Financial Aid

Important News & Information

Financial Aid Funding Options

Students have three options to receive their financial aid awards. The funding options are:

  • ACH Transfer (Direct Deposit). Funds can be transferred directly to your existing bank account. Funds will be available within 3-5 business days from the date funds are scheduled for disbursement. Timeframe may vary depending on individual banking institution policy.
  • Money Network Enabled CollegeCash Card. Funds are available the same day school disburses the funding.
  • Paper Check. A paper check will be mailed to the address on file with the Admissions and Records Office. Funds are generally available within 7-10 business days from the date funds are scheduled for disbursement.

To get information on the 3rd Party Disbursement Services, please click the following link:

CollegeCash

You may also click New FA Funding Options FAQs  to access our Frequently Asked Questions handout for more information.

Changes to the Board of Governors Fee Waiver (BOGFW) Program

Beginning with the Fall 2016 semester, there will be minimum academic progress standards that must be met for continued eligibility for the Board of Governors Fee Waiver Program (BOGFW). Please note that these standards are different and separate from federal student aid Satisfactory Academic Progress (SAP). The academic and progress standards for the BOGFW are:

Academic standards: Cumulative GPA of 2.0 or higher.

Progress standards: Cumulative satisfactory completion of more than 50% of all coursework attempted.

Students who do not meet the standards listed above for two consecutive primary semesters (fall and spring) will lose eligibility for the BOGFW. If you become ineligible for the BOGFW, you will be notified within 30 days after the end of the Spring 2016 semester. The college will send a communication to those students who failed to meet the standards for two consecutive primary semesters and will include instructions on how to appeal loss of the BOGFW. Please note that this appeal is separate from any appeal for federal student aid, and the approval of one appeal will not mean the automatic approval of the other.

If you need more information, please contact the Financial Aid Office or go to BOGFW Program Changes

"For a quick review of important information on the BOG Fee Waiver eligibility requirements, click here BOG FEE WAIVER Eligibility Requirements to view a video."

2017-2018 Board of Governors Fee Waiver is now available online and printable. Visit Applications & Forms for the waiver.

Important changes for 2017-18 FAFSA

Starting October 2016, important changes are coming to the financial aid application process for students applying for the 2017-2018 academic year.  These changes include:

    • Submit a FAFSA Earlier: Students will be able to submit applications as early as October 1, 2016, three months earlier than in previous application cycles when the application was made available January 1st.
    • Use Earlier Income Information: Students will report income from an earlier tax year.  On the 2017-2018 FAFSA, students and parents will report 2015 tax information, not 2016 tax information.

 

LMC Financial Aid Office Goes Green!!!!


Go Green!!!!Paperless communications are a great way to stay organized while helping the environment. Instead of receiving paper communications through the mail, we'll email you when we have any correspondence for students. It's safer, more secure and it helps our planet!!! Please be sure to check your InSite email frequently, so that you don't miss any important documents and deadlines. Students are responsible for meeting all deadlines.