Five Steps to Financial Aid at Lamar University

Financial aid is not disbursed until you have been admitted into a degree-seeking program and all required documents have been received by the Lamar University Financial Aid Office.

STEP 1

Complete and submit the Free Application for Federal Student Aid (FAFSA) by applying online at www.fafsa.ed.gov. You will have to complete the FAFSA every year using the most recent income tax information. You need to complete a new FAFSA the first year and a renewal FAFSA in subsequent years.

You and one of your parents can speed up the process by obtaining a PIN to be able to sign the application on the Internet and never submit paperwork to the U.S. Dept of Education. A PIN can be obtained at www.pin.ed.gov.

Make sure that Lamar University receives the information by listing Lamar University when you complete the FAFSA. Our school code is 003581. You will receive an acknowledgement from the U.S. Dept of Education upon receipt.

STEP 2

Once your electronic FAFSA information has been received by Lamar University and you have been fully admitted, the Financial Aid Office will request additional documentation before you are awarded. You can log into your online student account and view what documents the Financial Aid Office is requesting. Directions for logging into your online account can be found here.

Many times we will request a signed copy of your and your parents’ tax returns from the tax year requested on the FAFSA, a copy of all corresponding W-2’s, a verification worksheet (available on LU’s Financial Aid website), and documentation of additional untaxed income such as child support, IRA/Keogh deductions, workers compensation, and interest on tax-free bonds.

STEP 3

Once we have received all of the requested paperwork, reviewed it, and verified it, you will be awarded the grants and loans for which you are eligible. During this process we will also re-evaluate your academic progress. If you are not meeting Lamar University’s Satisfactory Academic Progress Standards, then your aid will be put on hold. You will have an opportunity to appeal, if you are not meeting the Satisfactory Academic Progress Standards, by submitting an appeal letter to the Financial Aid Office. Make sure that all necessary documentation is submitted and you fully explain why academic standards were not met.

STEP 4

Once financial aid has been awarded you will need to accept the grants and loans online and follow the additional instructions for student loans to ensure the funds arrive as soon as possible. Students must completely follow all instructions to receive all of their financial aid. Once students accept their loans, students will need to complete an additional step by completing entrance counseling and a master promissory note at www.studentloans.gov.

Parents wishing to request a PLUS loan need to complete the PLUS application at www.studentloans.gov by logging in with parent information. Once we receive a request for the PLUS loan and all required documentation is complete, the parent will have to complete a Plus Loan Worksheet telling us whether the refund, if any as a result of the PLUS loan, should be given to the parent or the student.

Graduate students requesting a Graduate PLUS loan must submit the appropriate loan worksheet. Federal Perkins Loan Awards must be accepted in person in the Financial Aid Office. View instructions for completing the Parent PLUS Loan here.

STEP 5

Provided you have registered during the priority registration time frame, registered for the number of hours stated on your FASFA, and all your processing is complete, money will be disbursed to your account up to three days before classes begin. Any residual money (refund) will be disbursed to you through the Cardinal One Card. Note: Prior to Lamar University releasing your funds, we will check the number of class hours in which you are enrolled, satisfactory academic progress, default status, and if you have completed the entrance counseling requirement.

TO CHECK THE PROGRESS OF YOUR STUDENT LOANS/GRANTS ONLINE:

1. Go to Self Service Banner.
2. Look under the “Financial Aid” tab. Under this title you will see various links that provide a large amount of information concerning your financial aid account.

TO DOWNLOAD STUDENT FINANCIAL AID FORMS

1. Go to the Financial Aid Website at www.lamar.edu/financialaid
2. Click on “Forms”.

Lamar University is committed to helping students attain their educational goals and expand their opportunities. Financial aid is monetary assistance to help with costs associated with attendance at Lamar University. The three main types of financial aid are Grants/Scholarships, Work-Study, and Educational Loans.

THINGS TO REMEMBER

• The priority date for submitting all documents required for financial aid awards is March 31.

• Satisfactory Academic Progress must be maintained in order to continue to receive financial aid.

• Lamar University will not automatically award or process any loans for individuals who have defaulted on their student loans. Students submitting documentation that the defaulted loan has been repaid or satisfactory repayment arrangements have been made, may be considered for grant and work study. The letter (from the respective guaranty agency) must also state that the student is now eligible for further financial aid.
• Recent federal regulations require Lamar University Office of Student Financial Aid to track repeated undergraduate coursework.  Beginning 2011-2012 academic year undergraduate students’ financial aid enrollment status will be evaluated using the following guidelines.  Any reduction in financial aid enrollment status may affect financial aid federal and state fund award amounts.
  
  Repeat Coursework Guidelines
  • There is no limit on the number of times a student can receive aid for a course that the student has only earned an F or U.v  If a student earns a D or higher in a course, the student may only receive financial aid for the course one more time even if the degree plan requires a “C” or higher.
  • Course repetitions required by a degree plan are exempt.
  • These tracking requirements do not apply to graduate students.
  • Any reduction in enrollment status under these guidelines affects financial aid award amounts.  The student’s official enrollment status with the University for reporting, insurance, and student loan deferment purposes will include repeated courses.

• Students who withdraw before 60% of the semester is over will owe Lamar University and/or the U.S. Department of Education a percentage of the financial aid funds that have been applied to their student account. If a student stops attending classes (and does not properly follow Lamar University’s withdrawal procedure) and ends the semester with grades of Qs or Fs, may owe a percentage of the financial aid funds that were applied to the account back to Lamar University and/or the U.S. Department of Education. If the calculation of the withdrawal results in a credit on the student account, the funds to be returned to the Stafford Loan lender. If the student has not incurred any Stafford Loan debt, any residual credit will be refunded to the student through the standard institutional refund procedures using the Cardinal One Option they selected.  An example calculation is in the Financial Aid Handbook.
  
  Spring 2012 60% Dates

• Part of Term	Beginning Date		Ending Date	60 % Date
  1	1/18/2012	-	5/16/20	4/2/2012
  2	1/18/2012	-	3/9/2012	2/20/2012
  3	3/19/2012	-	5/16/2012	4/23/2012
  AP1	1/18/2012	-	2/22/2012	2/8/2012
  AP2	2/27/2012	-	4/2/2012	3/22/2012
  AP3	4/9/2012	-	5/14/2012	4/30/2012

          *Academic Partnership 60% dates will fluctuate based on the duration of the modules a student is enrolled.