Financial Aid: General Information

The primary purpose of the student financial aid program at Lake-Sumter Community College is to provide financial assistance to academically qualified students who could not further their education without financial aid. Parents and students are expected to make the maximum possible contribution to meet the student's educational expenses.

The Student Financial Aid Program provides assistance in the forms of scholarships, grants, loans, and employment.

Students should have a complete file in the Office of Financial Assistance by April 15th each year for priority consideration for the following academic year. Complete information on all aid programs is available in the Office of Financial Assistance.

• A separate application is required if you are applying for a Federal Subsidized/Unsubsidized Stafford Loan. Loan packets are available in the Office of Financial Assistance.
• You will receive an award letter in the mail once your file is processed by the Office of Financial Assistance. This will let you know the types of aid for which you are eligible at that time.
• Please notify the Office of Financial Assistance if you are expecting the Florida Bright Futures Scholarship.
• Follow up on your application. You are responsible for following up on your financial aid application. Do not wait until school begins.
• If you are awarded financial aid, it is your responsibility to drop your courses if you decide not to attend your classes.

Eligibility Requirements

To receive aid from the major financial aid programs at LSCC, students must meet the following requirements:

1. Demonstrate financial need in accordance with the Federal financial needs analysis formula.
2. Have a high school diploma or a GED.
3. Be enrolled or accepted for enrollment as a regular student working toward a degree in an eligible program.
4. Be a US citizen or eligible non-citizen.
5. Be enrolled at least half-time (6-8 credit hours) for most programs.
6. Have signed certification statements of "Educational Purpose/Refunds and Defaults" on FAFSA.
7. Have a valid social security number.
8. Register with the Selective Service, if required.
9. Make satisfactory academic progress.

Financial Aid Deadlines

A FAFSA (Free Application for Federal Student Aid) must be completed for each academic year and one FAFSA serves throughout that entire academic year (Fall through Summer). The FAFSA becomes available each January for the following academic year, and you should apply as early as possible because many financial aid programs have limited funding that will go only to early applicants. For best results, apply each year by April 15th.

File Completion Dates

Files are processed in order by the date the items are received. To have your financial aid processed in time for your registration fees to be paid by financial aid by the fee payment deadline, you must complete ALL STEPS in the application process by the Financial Aid File Completion Date:

Fall Term — June 1, 2009
Spring Term — November 9, 2009
Summer Term — April 12, 2010

Late Applicants

If you miss the Financial Aid Priority Deadline for the term in which you wish to enroll, you still are strongly encouraged to apply for financial aid. Your application will be accepted and processed; however, it may not be processed in time for you to use your financial aid to pay for your fees and books. If this is the case, you will need to make other arrangements to pay your fees and purchase your books; then if you qualify for financial aid, a balance check will be issued to you later in the term. You can seek help with paying your fees through the Tuition and Installment Plan (TIP).

Transient and Transfer Students

Transient Students:

Students who are registered as transient at Lake-Sumter Community College (LSCC) are not eligible to receive financial assistance; however, students can receive assistance at their home institution. You should check with the Financial Aid Office at your home institution to find out the procedure for receiving aid for classes you are taking at LSCC. Classes registered in at LSCC should be paid by the student by the posted fee payment deadline for that term.

LSCC students who are taking classes at another institution as a transient student for credit toward their degree at LSCC should follow the following procedure to receive financial assistance for the transient coursework.

1. Get prior permission to take transient coursework by filling out the Transient Student Form on the www.facts.org website. Please allow a minimum of 48 hours for approval from LSCC.
2. Register and pay for coursework at the transient institution.
3. Turn in approved Transient Form, paid receipt, and class schedule to the Office of Financial Assistance at the Leesburg campus.
4. The Office of Financial Assistance will send a consortium agreement to the transient institution and once received back by LSCC, the student’s aid will be adjusted.
5. At the end of the term in which a student is taking transient coursework, LSCC must receive an official transcript in order to award aid for the next term of enrollment.

Please note:  No consortium agreements will be processed until after the Lake-Sumter Community College add/drop period is over each term.

Transfer Students:

For students who are transferring to LSCC, academic transcripts must be received and evaluated before any financial aid can be awarded. If a student’s completion ratio or GPA is below the standards of academic progress for financial aid at LSCC, they will receive financial aid on a probationary status. In addition, if a student transfers in more than 90 credit hours, eligibility for financial aid will be suspended; however, students do have the option to appeal.