Office of Financial Aid

Steps to Applying for Financial Aid

Step 1: Apply for Financial Aid

Go to www.fafsa.gov. Insert LCC’s school code: 001355. For help, contact our EOC office. When you complete your financial aid application, you should have certain records on hand. You’ll need to refer to:
• Your tax return
• Your parents’ tax return (if you apply as a dependent student).
• Your spouse’s tax return (if you are married and your spouse filed a separate return).
The 2013 U.S. Income Tax Return is the most important record you will need, since you must use specific numbers from specific lines on the tax return to fill out your application.
Aid from most of the federal student aid programs – except for Unsubsidized and PLUS loans – is awarded on the basis of need. The primary responsibility for meeting college costs rests with the family and the student. The amount of financial aid that you will be eligible to receive is based upon your financial need as determined by a federally approved processor. Financial need is the difference between the cost of attending the college of your choice and the resources available to the student. Resources include: parents’ contribution, earnings from employment, spouse’s income, vocational rehabilitation, welfare, etc. The Financial Aid Officer will take the cost of education at LCC and subtract the amount you and your family are expected to pay toward that cost (Expected Family Contribution [EFC]). If there’s anything left over, you’re considered to have financial need.
Students who feel they may need additional resources to fund their educational costs are encouraged to apply for financial assistance. The financial aid staff will make every effort to utilize state, federal, and private resources effectively to meet a student’s documented need. Student financial aid is awarded after the student has been accepted for enrollment and has completed the financial aid application process. It is strongly recommended that a student applying for the upcoming Fall semester apply and complete all paperwork by April 1.

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Step 2: Verification Forms

Some students applying for financial aid are required to submit certain documents for verification. The financial aid office verifies applications selected for verification by the U.S. Department of Education and others that have questionable information. Documents needing to be submitted to the financial aid office include (but is not limited to) the following: tax transcript, parents’ tax transcript, spouse’s tax transcript, W-2 forms, and other forms as requested. LCC can no longer accept copies of federal tax return forms in the verification process but is required to request tax transcripts. Tax transcripts can be obtained from the IRS at www.irs.gov or by calling 800.908.9946. Missing Information Letters will be sent by email to students requesting documentation of items listed on their Student Aid Report (SAR). Only download and complete the verification forms if you have been requested to do so by the LCC Financial Aid Office.

Step 3: Grants and Scholarships

All grants and most scholarships awarded at LCC require students to complete the FAFSA.

Federal Pell Grant

Federal Pell Grant, unlike a loan, does not normally have to be paid back. It is the Federal Government’s largest student aid program and is the starting point for most students seeking financial assistance. Pell amounts are prorated to enrollment: 3-5 credit hours at ¼-time, 6-8 credit hours at ½-time, 9-11 credit hours at ¾-time, and 12+ credit hours at full-time. A Student must enroll in a minimum of 3 credit hours each term to receive a Federal Pell Grant. The grant can be awarded retroactively to students throughout the year provided the student is still enrolled. Students who have received a BS/BA degree are not eligible. Students who enroll at LCC and also at another site within the same term are eligible to receive a Pell award for enrollment at only one site.

Federal Supplemental Educational Opportunity Grant (FSEOG)

This grant ranges from $100 to $4,000 per academic year and is available to students with exceptional financial need who are eligible to receive a Federal Pell Grant. Students must be enrolled in minimum of 6 credit hours to be eligible for this grant.

Colorado Student Grant (CSG)

This grant is available to students who are Colorado residents and demonstrate a financial need according to the FAFSA. Students must be enrolled in minimum of 6 credit hours to be eligible for this grant. CSG amounts are prorated to enrollment: 1-5 credit hours not eligible, 6-8 credit hours at 50%, 9-11 credit hours at 75%, and 12+ credit hours at 100%.

Scholarships

Scholarships are awarded on a yearly basis to those students who meet scholarship criteria and have a completed the scholarship application by the scholarship’s deadline date. Scholarships are reviewed each semester and will be terminated if a student’s does not meet the required satisfactory academic progress requirements or individual scholarship criteria. Most scholarships are for fall and spring semester. Some scholarships may be renewed for a second year. Find more information at http://www.lamarcc.edu/admission/paying-for-college/scholarships/.

Step 4: Student Loans

All students may request a student loan to help cover their educational expenses. A current FAFSA, Social Security Number and FAFSA PIN are required.

New Borrowers

1. REQUIRED www.studentloans.gov – Complete Master Promissory Note
2. REQUIRED www.studentloans.gov – Complete Entrance Counseling
3. REQUIRED Complete the loan application form: Direct Loan Application
4.REQUIRED Attend an Entrance Counseling Session in-person presented by the LCC Financial Aid Office
5. RECOMMENDED www.EducationCents.Org – Complete all ten courses on personal finance.

Continuing Borrowers

1. REQUIRED Complete the loan application form: Direct Loan Application
2. RECOMMENDED www.studentloans.gov – Complete Financial Awareness Counseling.

Borrowers Leaving LCC

1. REQUIRED www.studentloans.gov – Complete Exit Counseling.

Parent Borrowers

1. REQUIRED www.studentloans.gov – Complete PLUS Loan Master Promissory Note
2. REQUIRED Complete the PLUS loan application form: Direct PLUS Loan Application.

Additional Loan Information

ATTN: Students with Loans

ECMC_LogoLamar Community College has partnered with ECMC Solutions to assist you with managing your student loan repayment.  This service is of no cost to you; just an added benefit LCC is providing to you to ensure a successful repayment of your loans.  Through this service, you will be contacted by ECMC.  If requested, it is important that you respond to these calls, letters, e-mails, and texts as soon as possible.  ECMC Solutions is not a collection agency—representatives help you by providing information and counseling on the options available to bring your account current. Call 877.331.3262 or visit www.ecmcsolutions.com/resources for more information.

*New* Time Limit on Subsidized Student Loans

PDF of Student Loan

Step 5: Work Study

Students awarded a work study position on campus earn Colorado minimum wage to perform duties in campus departments and some off-campus sites. LCC has fund allotments for State and Federal Work Study. Prior to beginning work, students must be cleared to work by the Financial Aid Office and all paperwork must be completed for payroll. The documents needed are I-9 forms, copies of original driver’s license and social security card, withholding information, etc. The Business Office will direct students in the completion of the work-study packet. Visit http://www.lamarcc.edu/admission/paying-for-college/work-study/ to begin the Work Study application process.