VI.C. Financial Aid
VI.C.1. Financial Aid
VI.C.1.01 - Purpose
The purpose of financial aid is to remove financial barriers that prevent access to educational opportunities. LSCS participates in programs that provide aid through grants, scholarships, work-study, and loans. Financial aid policies are intended to provide guidelines and procedures for the financial aid offices to ensure conformity in the collection of information, issuing awards, and administering programs on a System-wide basis, while efficiently utilizing the resources of LSCS.
This policy is intended to assure that LSCS remains in compliance with Federal and State Regulations.
VI.C.1.02 - Application
Students applying for any type of financial aid, other than scholarships, must first complete a Free Application for Federal Student Aid (FAFSA) form. The information submitted in the application may be subject to verification.
Students applying for scholarships must submit a scholarship application by the published deadline. Eligibility criteria for scholarships are determined by the scholarship donors.
VI.C.1.03 - Disbursement of Funds
Awards other than work-study will be credited to the student's account and used to pay tuition, fees, and books. Any unencumbered balances will be refunded to the student. LSCS work-study funds will be distributed through the payroll system.
VI.C.1.04 - Repayment of Title IV Funds
Students receiving Title IV funds, who withdraw from their course(s) prior to the 60% point of completion, will be required to return the unearned portion of the Title IV funds (See B.3.05, above).
VI.C.1.05 - Satisfactory Academic Progress
Students who fail to make satisfactory academic progress as defined by the signed Satisfactory Progress Policy will be placed on financial aid probation or suspension.
Students who are on financial aid probation will be notified in writing by the financial aid office that their aid will be suspended unless they make the required progress.
Students who are placed on financial aid suspension will be notified in writing that their financial aid has been terminated, and that they have a right to appeal the suspension. On appeal, the student will have the burden of proving that the situation was caused by extenuating circumstances.
A student who does not appeal a financial aid suspension or whose appeal has been denied may be required to complete a minimum of six semester hours approved by the LSCS Financial Aid Director and to meet satisfactory academic progress standards in order to be considered for reinstatement of financial aid.
VI.C.1.06 - Financial Aid Suspension - Appeal Process
A student who has been placed on financial aid suspension and desires to appeal the suspension shall complete and submit the Satisfactory Academic Progress Appeal Form to the LSCS Financial Aid Director, or designee. Supporting documentation may be required.
The Financial Aid Director, or designee, shall review each appeal, and determine on a case-by-case basis if the student's circumstances warrant a waiver of suspension and may:
- allow the student to receive aid and remain on probation;
- allow the student to receive aid under specified conditions; or
- deny the appeal (usually rendered when there are continual violations or when the maximum time frame has been reached).
The Financial Aid Director shall provide the student a written response to the appeal, state the decision, and inform the student of further appeal rights. A student desiring to appeal the decision of the LSCS Financial Aid Director may do so by providing a written request to the LSCS Financial Aid Appeal Committee within five (5) business days of receiving the Financial Aid Director's written response. The committee is appointed by the LEO and composed of at least one LSCS staff member, faculty member, and administrator that do not work with the financial aid matters. The Appeal Committee shall provide the student at least three (3) business days notice prior to the hearing and a written decision within five (5) business days of the hearing. The decision of the Appeal Committee shall be final.
VI.C.1.07 - Fraud - Title IV Funds
Any person who knowingly and willfully embezzles, misapplies, steals, or who obtains funds by intentional misrepresentation, false statement or forgery, or who fails to refund any funds, assets or property provided or issued under Title IV shall be considered to have committed an act of fraud and is subject to penalties and/or fines as outlined in applicable federal guidelines.
If a student is suspected of committing fraud with respect to Title IV funds, an investigation will be conducted, and additional documentation may be requested and/or collected. Financial aid will be withheld from the student pending the outcome of the investigation.
Upon a finding of fraud with respect to Title IV funds, the student will be referred to the LSCS Chief Student Services Officer for disciplinary action, and the student's financial aid will be revoked. The LSCS's Vice President for Administrative Services and the LSCS Director of Financial Aid shall be notified and be provided copies of the investigative report, along with supporting documentation.
The LSCS Director of Financial Aid shall refer the matter to the U.S. Department of Education by forwarding to that agency a copy of the investigative report along with supporting documentation. LSCS administrators shall determine if the case should be referred to the U.S. Attorney General, and in that event, the LSCS's General Counsel shall be responsible for making such referral.
LSCS Policy Manual Section adopted by the Board of Trustees on December 1, 2011