Frequently Asked Questions

Q: When should I re-apply for financial aid for the next academic year?

A: Students should re-apply for financial aid for the next academic school year (2008-2009) after January 1, 2008 or after completing your 2007 tax return. The priority deadline for the 2008-2009 school year is April 15, 2008.

Q: I have a negative balance on my account; I thought I had financial aid?

A: When the amount of financial aid awarded to you exceeds the charges on your account, a credit balance is created. The negative balance is the amount owed to you in the form of a balance check which is disbursed by the Financial Services (Business) Office. All checks are mailed to the student’s address.
*NOTE: Please make sure our Admissions Office has your current address.

Q: When will I receive my balance check from my financial aid?

A: For students who are awarded before or during the registration process, no balance checks will be issued by the Financial Services (Business) Office until approximately (3) three weeks after the add/drop period is over. For those students who are awarded after the registration period is over, balance checks are usually issued by the Financial Services (Business) Office within (2) two weeks.

Q: I received a bill, but I have submitted a loan application. What do I do?

A: Student loans are also considered financial aid so if the amount awarded exceeds your total charges then a courtesy hold will be placed on your classes until the loan funds are received by the school.

Q: If I have been awarded a loan, when will I receive my loan funds?

A: First time borrowers in the first year of study will receive their first disbursement thirty (30) days after the term begins, if processed and approved by the lender. All other borrowers will receive the first disbursement approximately 3 weeks after the add/drop period is over, if processed and approved by the lender.

Q:  I got two MPNs (Master Promissory Notes) in the mail from two different places. Which one do I send in?

A: You can send in either one. The lender has to receive a signed MPN from you before they will release the funds to the school.

Q: I didn’t file a tax return and I have no income. What do I put on the FAFSA application?

A: If you have no income and someone is paying your bills for you, then you must list the amount of money being paid on your behalf under worksheet B of the FAFSA application. If you do not list any source of income or you have unusually low income, you will be required to fill out a Low Income form.

Q. I have been awarded Bright Futures, how do I get my information to the school?

A. Students should contact the FL Department of Education at 1-888-827-2004 or go to the website at   www.floridastudentfinancialaid.org to select the institution you will be attending. In addition, you should contact the Office of Financial Assistance.

Q. What are the eligibility criteria for Bright Futures?

A: The basic eligibility requirements for Bright Futures are that you must be a Florida resident and a U.S. Citizen or  eligible non-citizen (as determined by Lake-Sumter Community College), must be degree seeking, register for at least 6 credit hours per term, and have all High School and college transcripts submitted to LSCC.

Q. How do I qualify for Work-Study?

A: To be eligible for the Work Study program you must first apply for financial aid using the FAFSA application. Eligibility criteria include; must have verifiable need, have a minimum cumulative GPA of 2.0, and be enrolled in a minimum of 6 credit/load hours.