Philosophy

Recognizing the significant investment that students and families make when choosing a private college, LaGrange College offers a variety of assistance and payment options. We expect students and families to use a combination of scholarships, grants, loans, and work to meet college costs. These resources may come from family, college, community, and state or federal sources. Payment plans are available to distribute required payments over the course of an academic year or for longer terms using Federal loan programs. Students should apply for financial aid and scholarships as early as possible to maximize eligibility access to all available types of assistance.

Financial Aid Eligility Requirements

In general, to be eligible for financial assistance, the applicant must:

• be a U.S. citizen or eligible non-citizen;
• be enrolled or accepted for enrollment in an eligible degree or  certification program;
• have a high school diploma or a General Education Development (GED) certification, or have completed a high school education in a home school setting that is recognized as a home school or private school under state law;
• be making Satisfactory Academic Progress towards the completion of their degree program;
• not be in default on any federal educational loan or have made satisfactory arrangements to repay the loan;
• not owe a refund on a federal or state grant;
• not have borrowed in excess of federal loan limits;
• not have a drug conviction for an offense that occurred while receiving federal student aid (grants, loans, and work);
• be registered with Selective Service, if required.

Financial Aid Application Procedures

Applicants for financial aid must:

• complete and submit a Free Application for Federal Student Aid (FAFSA), available at http://www.fafsa.gov/ beginning October 1, annually by March 1; 
• submit all required documents for verification, if selected.

Verification

Verification is the process of evaluating the accuracy of financial information provided on the Free Application for Federal Student Aid.  The U.S. Department of Education randomly selects financial aid applications for verification.  The Financial Aid Office may select additional applications for verification if conflicting or incomplete information exists.  A financial aid award cannot be provided until the verification process is completed.

Students selected for verification will be asked to verify specific data information as determined by the Department of Education annually, the following data information must be verified currently: adjusted gross income, federal income tax paid, income earned from work, family size, number of family members in college, untaxed income, and child support paid.   Most students will be asked to complete a verification worksheet and provide an IRS tax transcript or complete IRS Data Retrieval through FAFSA on the Web.  IRS Data Retrieval allows financial aid applicant to import actual tax information from the IRS into their FAFSA, which satisfies verification requirements if the IRS data is not modified.  If discrepancies are found during verification, the Financial Aid Office will transmit the corrected information to the Central Processing System (CPS).  The results are usually received within 3-4 days.  Once the corrected financial aid information is received and provided all other eligibility requirements are met, an official financial aid award letter will be sent.

Determining Financial Need

Students seeking financial assistance must complete the federal need analysis form, the Free Application for Federal Student Aid (FAFSA). The FAFSA collects parental and student income and asset information needed to determine eligibility for financial aid. This information is used in a federal need-analysis formula to determine the Expected Family Contribution (EFC).   The Expected Family Contribution (EFC) is deducted from the Cost of Attendance at LaGrange College to determine whether a need for financial assistance exists. If the family’s EFC is less than the Cost of Attendance, then a financial need is established. The Office of Financial Aid attempts to meet the demonstrated financial need of applicants with federal, state, and institutional grants and scholarships, work programs, and student loans.

The Financial Aid Office is required under federal regulations to establish Cost of Attendance Budgets annually that reflects an estimate of the cost of attending their institution for an academic year which includes an estimate of the following expenses--tuition, fees, room, board, books, supplies, and living expenses. Although a cost of attendance budget must include these specific expenses, this does not mean that you will be billed for these expenses.  For most undergraduate students, LaGrange College will bill/invoice the student only for actual tuition and fees, required fees, a room and board charges only if the student resides in campus housing.     A student’s cost of attendance budget can be impacted by their major, classification, and housing plans.  Below are the average Cost of Attendance Budgets for undergraduate students residing on-campus, with parents, or off-campus for the 2018-2019 academic year:

	On-campus	With Parents	Off-campus Independent
Tuition and fees*	$32,000	$32,000	$32,000
Room and Board	$12,060	$7,000	$13,634
Books and Supplies	$1000	$1,000	$1,000
Student Loan Fees	$205	$205	$205
Transportation	$1,350	$1,350	$1,350
Personal	$1,500	$1,500	$1,500
Health Fees	$320	$320	$320
Commuter Meal Plan Fees	N/A	$200	$200
	$48,435	$43,575	$50,209

*The tuition rate above is applicable to a full-time course load of 12-16 credit hours for the fall and spring semesters.  Student pursuing nursing are assessed a higher tuition rate and are subject to lab fees.

Satisfactory Academic Progress Policy

Federal regulations require institutions of higher education to establish Satisfactory Academic Progress (SAP) standards for recipients of financial aid. The purpose of satisfactory academic progress standards is to measure a student’s progress toward the completion of his or her educational program. The Office of Financial Aid is responsible for ensuring that all students receiving federal, state, and institutional financial aid are meeting these standards by conducting an evaluation at the end of each semester.  The satisfactory academic progress standards established in this Policy apply to all financial aid programs including, but not limited to:

• Federal aid programs—Pell Grant, Federal Supplemental Educational Opportunity Grant (FSEOG), TEACH Grant, Federal Direct Loan, Federal Direct Parent Loan for Undergraduate Students (PLUS), Federal Work Study;
• State aid programs—HOPE Scholarship, Zell Miller Scholarship, and Georgia Tuition Equalization Grant (GTEG); and
• LaGrange College institutional aid—LaGrange College grants, academic scholarships, and LaGrange College Work Aid.

A satisfactory academic progress policy is comprised of a qualitative (grade-based) and quantitative (pace and time frame) standard. The qualitative standard assesses the quality of the academic work as measured by an overall grade point average. The quantitative standard establishes the pace at which the student must progress to ensure completion of the degree program within the allowable maximum timeframe. Financial aid recipients must meet all of these standards to be making satisfactory academic progress and to receive financial aid.

Qualitative Standard (Grade Point Average)

A student is expected to adhere to the Academic Standing and Probation grade point average (GPA) requirements outlined in this Undergraduate Bulletin in order to be considered in good academic standing and to qualify for financial aid. The cumulative grade point average is based on all courses taken at LaGrange College. LaGrange College defines good academic standing as follows:

• a student with fewer than 30 earned hours must maintain a minimum of a 1.75 cumulative GPA;
• a student with 30-59 earned hours must maintain a 1.90 cumulative GPA;
• a student with 60 or more earned hours must maintain a minimum cumulative GPA of 2.0.

The Vice President for Academic Affairs (VPAA) monitors the grade point average component of the SAP policy each semester. Any student whose cumulative GPA is below the established minimum standard may be placed on academic probation or academic suspension.

Quantitative Standard (Rate of Progress/PACE)

A student receiving financial aid is expected to progress through the degree program of study at a pace that ensures the completion within the maximum timeframe defined below. The rate of progress (pace) is computed by dividing the cumulative number of hours that the student has successfully completed (earned credits) by the cumulative number of hours that the student has attempted. A student is considered to be making measurable progress toward the completion of a degree program by maintaining an overall rate of progress of 67%. This standard applies to all financial aid recipients, regardless of full-time or part-time enrollment status.

Attempted hours are those credit hours for which the student is registered on or after the conclusion of late registration (drop/add). Earned hours are successfully completed courses in which grades of A+, A, A-, B+, B, B-, C+, C, C-, D+, D, or P are awarded, so long as credit is earned. Grades of F, Incomplete (I), Withdrawal (W), No credit (NC), Not Reported (NR), Audit (AU), or Audit Withdrawn (AW) do not count as successful completion of a course. In evaluating the rate of progress, please note the following:

Withdrawals, incompletes, and failed courses are considered attempted hours but not earned hours. If an incomplete course impacts a student’s satisfactory academic progress standing, then it is the student’s responsibility to notify the Office of Financial Aid when a final grade is reported.

Audited courses are not considered attempted or earned credit hours.

Transfer credits, including courses taken as a transient student, do not count in the calculation of LaGrange College GPA, but are included in the attempted hours, earned hours, and maximum time frame standards.

Repeated courses, for which a passing grade was previously awarded, are included in attempted hours and grade point average calculation but not in earned hours.

Example of Rate of Progress Calculation:

At the end of the Fall semester, Jonathan had attempted 30 semester hours and passed (earned) 21 credit hours. Jonathan’s rate of progress (pace) would be determined by dividing the 21 credit hours he has earned by the total hours attempted, which is 30. His rate of progress is 70% (21/30). Jonathan would be considered to be meeting the quantitative standard.

Maximum Time Frame

By federal regulation, a student is expected to complete the degree program within 150% of the credit hours required to complete the degree program. For example, an undergraduate student pursuing a Chemistry degree, which has a total of 120 semester hours, as published in the Undergraduate Bulletin, could receive financial aid for no more than 180 semester hours. Frequent withdrawals from courses or school, changes of major, failed or repeated courses, or taking courses that are not related to the degree program could jeopardize financial aid eligibility. All attempted hours at LaGrange College and transfer credits accepted into the degree program will count toward the maximum time frame. A student’s eligibility for financial aid will terminate at the time the student has completed the required coursework in the degree program or when it is determined that the student has exceeded the 150% maximum time frame, or it is determined that it is mathematically impossible for the student to complete the degree program within the maximum timeframe.

The following are considered when evaluating the time frame standard:

• A student pursuing two (2) bachelors’ degree programs at the same time must adhere to the 150% time frame. The maximum attempted hours allowable for financial aid will be based on the degree that requires the most hours.
• Students returning to school to pursue another undergraduate degree are allowed an additional 60 semester hours to complete the degree. All other standards established in the satisfactory academic progress policy apply to subsequent undergraduate degrees. If the second degree will require more than 60 hours to complete, then the student must submit documentation from his or her advisor outlining the courses needed to complete the degree.
• A transfer student’s compliance with the time frame component of the satisfactory academic progress policy will be based on the sum of the attempted hours at LaGrange College plus the credit hours accepted on transfer from previous institutions toward the student’s degree program. For example, if a transfer student has 70 credit hours acceptable towards their degree program, then the student may receive financial assistance for up to 110 additional credit hours.

Satisfactory Academic Progress Evaluation

After final grades are reported for the semester, the academic history from all periods of enrollment, regardless of full-time or part-time enrollment status, will be reviewed to determine if the student is maintaining the standards established in the Satisfactory Academic Progress Policy. This includes all courses attempted, regardless of whether financial aid was received. Transfer grade point averages are not considered in either of the standards; however, accepted transfer credit hours will be included in attempted hours, earned hours, and the maximum time frame. Once evaluated, the student will be placed into one of the following Satisfactory Academic Progress statuses and notified, if applicable:

Good Standing—status assigned to a student who is in full compliance with the satisfactory academic progress standards. The student will not be notified.

Financial Aid Warning—status assigned to a student who is deficient in the grade point average and/or rate of progress standards of the satisfactory academic progress policy. A student on financial aid warning is eligible for financial aid for one (1) additional semester. The Office of Financial Aid will notify the student of his or her status and the area(s) of deficiency that must be resolved by the end of the next semester.

Financial Aid Suspension—status assigned to a student who remains deficient in grade point average and/or rate of progress standards after being placed on financial aid warning or has exceeded the 150% time frame for complete his or her degree program. A student placed on academic suspension by the Vice President for Academic Affairs (VPAA) is also placed on financial aid suspension, regardless of actual satisfactory academic progress status. A student on financial aid suspension will be notified of his or her ineligibility for future financial aid and the appeal process (See ―Appeal Procedures below.)

Financial Aid Probation—status assigned to a student who has failed to make satisfactory academic progress and who has appealed and had eligibility for financial aid reinstated. A student placed on financial aid probation is eligible for financial aid and has one (1) semester to comply with the satisfactory academic progress standards or meet the requirements of an academic plan developed by the student and VPAA.

Appeal Procedures

A financial aid recipient who is placed on financial suspension loses eligibility for financial aid. The student can appeal to the Financial Aid Appeals Committee for reinstatement of financial aid eligibility, provided that there is a mitigating circumstance that affected the student’s academic performance. Mitigating circumstances are those events that are beyond the student’s control, such as serious injury, illness or mental health condition involving the student or an immediate family member, death of an immediate family member, and other extenuating circumstances. An Appeals Form must be submitted to the Director of Financial Aid with a written statement detailing the mitigating circumstance, documentation of circumstance (i.e., letter from physician or health care provider detailing the onset and the duration of the illness, statement from a law enforcement agency or social services agency, etc.), and an explanation of the manner by which the deficiency was or will be resolved and of how that deficiency will not interfere with future terms of enrollment. Appeals without supporting documentation will not be considered. Appeals must be submitted within two (2) weeks of notification of ineligibility for financial aid.

The Director of Financial Aid will convene the Financial Aid Appeals Committee to review the request for reinstatement of financial aid eligibility. The Director of Financial Aid will notify the student in writing at the student’s home address or campus e-mail account of the decision of the Committee and of any conditions associated with reinstatement within two (2) weeks of receiving the appeal. The decision of the Financial Aid Appeals Committee is final. A student whose appeal is approved will receive financial aid on financial aid probation‖ status for one (1) additional semester and his or her academic performance will be reviewed at the end of that next semester for continued financial aid eligibility.

Reestablishing Financial Aid Eligibility

A student who is unsuccessful in appealing for reinstatement of his or her financial aid, or a student who does not have a mitigating circumstance that warrants an appeal, can regain eligibility only by complying with the satisfactory academic progress policy. The student is encouraged to take advantage of counseling, tutoring, and study skills resources available through PACE, the college’s Counseling Center, and the Writing and Tutoring Center.

It should be noted that taking courses at the student’s expense, sitting out a semester, or taking courses at another institution does not automatically restore a student’s eligibility for financial aid. If the student has resolved the satisfactory academic progress deficiencies that resulted in the termination of financial aid eligibility, then the student should contact the Office of Financial Aid and request a satisfactory academic progress review.

Student Financial Aid Policies

Students seeking financial aid must submit a Free Application for Federal Student Aid (FAFSA) annually. The application is available at https://www.fafsa.gov/ beginning October 1.

LaGrange College awards aid to eligible students on a first-come, first-served basis. In awarding, first priority is given to students pursuing their first undergraduate degree. Transient, non-degree seeking, and unclassified students are not eligible for financial assistance.

All financial aid applications and documentation for verification must be submitted before an official financial aid award letter is mailed.

In constructing a financial aid award, funding is awarded in this order: grants and scholarships, student loans, and student employment.

External sources of financial aid available to a financial aid recipient must be considered in the awarding of federal, state, and LaGrange College need-based financial aid programs. LaGrange College reserves the right to cancel or reduce financial aid awards in the event that these resources result in financial aid in excess of financial need.

Financial aid awards are made assuming full-time enrollment. Most LaGrange College and state financial aid programs require full-time enrollment; however, financial assistance is available to students who enroll half-time.

A student’s enrollment status will be based on the credit hours for which the student is registered at the conclusion of late registration. All financial aid awards will be calculated using final registration information. If it is later determined that attendance in all or some courses cannot be documented, the financial aid awards will be adjusted. The student will be responsible for repaying any ineligible funds received.

Financial aid awards will be disbursed on the first day of classes, provided that all required documents and eligibility requirements are met.

Sources of Financial Aid

There are a variety of financial aid resources available to assist students with funding their college education. These resources are in the form of scholarships, grants, loans, or student employment and are made possible by funding from federal, state, and institutional sources. Although financial need is a primary factor in financial aid eligibility, there are financial aid programs available to students who do not demonstrate financial need. These programs may be awarded based on residency, merit, academic excellence, talent, and other criteria.

LaGrange College Academic Scholarships

LaGrange College recognizes the academic excellence of outstanding entering new first-year and transfer students by awarding scholarships ranging from $4,000 to full tuition, room, and board. These merit scholarships are made possible by generous gifts and endowments of alumni and supporters of LaGrange College. All entering new first-year students are evaluated for academic scholarships during the admission process. The top new first-year student applicants who are accepted for admission by January 15 are invited to compete for a Presidential Scholarship. Scholarships are awarded at the following levels:

The Presidential Learning and Living Scholarship is a competitive four-year, renewable academic scholarship awarded to incoming first-year students on the basis of academic achievement in high school, SAT or ACT test scores, and participation in the Presidential Scholar Competition. Recipients of this prestigious award receive full tuition, mandatory fees, room, and board. Presidential Scholarships of Georgia residents eligible for the HOPE Scholarship or Zell Miller Scholarship and Georgia Tuition Equalization Grant will be reduced by the value of these state programs. If a student is selected to receive a Presidential Scholarship, then it will supersede all other LaGrange College scholarship and aid. This scholarship is renewable with a LaGrange College GPA of 3.25 or higher.

The Presidential Learning Scholarship is a competitive four-year, renewable academic scholarship awarded to incoming first-year students on the basis of academic achievement in high school, SAT or ACT test scores, and participation in the Presidential Scholar Competition. Recipients of this prestigious award receive full tuition. Presidential Scholarships of Georgia residents eligible for the HOPE Scholarship or Zell Miller Scholarship and Georgia Tuition Equalization Grant will be reduced by the value of these state programs. If a student is selected to receive a Presidential Scholarship, then it will supersede all other LaGrange College scholarship and aid. This scholarship is renewable with a LaGrange College GPA of 3.25 or higher.

The Fellows Scholarship is a four-year, renewable, $16,000 academic scholarship awarded to entering first-year students who have a minimum SAT (combined Critical Reading and Math) score of 1200 or higher (or a minimum ACT composite score of 27 or higher) and a 3.81 recalculated high school GPA or higher in the college preparatory courses taken in English, foreign languages, social studies, mathematics, and laboratory sciences. Fellows Scholarship recipients may be eligible to compete for a Presidential or Dean’s Scholarship. If a student is selected to receive one of the awards, then the scholarship will replace any previous scholarship award. This scholarship is renewable with a LaGrange College GPA of 2.5 or higher.

The Founders Scholarship is a four-year, renewable, $15,000 academic scholarship awarded to entering first-year students who have a minimum SAT (combined Critical Reading and Math) score of 1100 or higher (or a minimum ACT composite score of 24 or higher) and a 3.7 recalculated high school GPA or higher in the college preparatory courses taken in English, foreign languages, social studies, mathematics, and laboratory sciences. This scholarship is renewable with a LaGrange College GPA of 2.5 or higher.

The Tower Scholarship is a four-year renewable, $14,000 academic scholarship awarded to entering first-year students who have a minimum SAT (combined Critical Reading and Math) score of 1050 or higher (or ACT composite score of 23 or higher) and a 3.5 or higher recalculated high school GPA or higher in the college preparatory courses taken in English, foreign languages, social studies, mathematics, and laboratory sciences.  This scholarship is renewable with a LaGrange College GPA of 2.5 or higher.

The Hilltop Scholarship is a four-year, $13,000 renewable academic scholarship awarded to entering first-year students who have a minimum SAT (combined Critical Reading and Math) score of 1000 or higher (or a minimum ACT composite score of 21 or higher) and a cumulative college preparatory high school GPA of 3.2 or higher. This scholarship is renewable with a LaGrange College GPA of 2.0 or higher.

The Gateway Scholarship is a four-year, $10,000 renewable academic scholarship awarded to entering first-year students.  Eligibility is determined by a combination of grade point average and test scores.  Typically, recipients of the Gateway Scholarship demonstrate above average academic achievement in college preparatory coursework during their high school career.  This scholarship is renewable with a LaGrange College GPA of 2.0 or higher.

A Transfer Scholarship is awarded to students transferring to LaGrange College from a college or university with a minimum of 30 semester hours and a minimum grade point average of 2.5 or higher. Scholarship awards range from $9,000 to $13,000. This scholarship is renewable with a LaGrange College GPA of 2.0 or higher.

Fine and Performing Arts Awards

LaGrange College's Theatre Arts, Music, and Art and Design programs, through the generous support of alumni and supporters of LaGrange College’s Fine Arts programs, award the exceptional talents of prospective and current students with departmental awards. These awards are competitive and are awarded based on academic promise, audition, portfolio, and departmental interviews. For a listing of these awards, please visit the Financial Aid section of our website.

General Grants and Scholarships

A Federal Pell Grant is awarded to undergraduate students pursuing a first bachelor’s degree. The student’s Expected Family Contribution (EFC) as determined by the results of the FAFSA, Cost of Attendance, and enrollment status determine the Pell award. Students enrolling less than full-time may qualify for a prorated amount of Pell Grant support based on their enrollment status and EFC.

A Federal Supplemental Educational Opportunity Grant is awarded to undergraduate students with exceptional financial need. Priority is given to students eligible for Federal Pell Grants.

A Georgia Tuition Equalization Grant is a State of Georgia non-need-based grant awarded to Georgia residents attending a private college or university as a full-time student. The annual amount is contingent upon funding by the Georgia Legislature.

The HOPE Scholarship is a State of Georgia merit-based, lottery-funded scholarship awarded to Georgia residents who graduate from an eligible high school with a minimum of a 3.0 cumulative grade point average in the college preparatory core-curriculum subjects or a 3.2 minimum grade point average in the career/technology core-curriculum subjects. Effective Fall 2011, HOPE Scholarship awards will be set annually based on lottery revenues and prior year expenditures. The anticipated HOPE Scholarship award for students attending a private college or university is $2089 per semester if full-time, and $1044 per semester if enrolled half-time. HOPE Scholars must maintain a 3.0 grade point average for continued eligibility. HOPE Scholars will be evaluated at increments of 30, 60, and 90 attempted hours and at the end of each Spring semester.

The Zell Miller Scholarship is a State of Georgia merit-based, lottery-funded HOPE Scholarship awarded to Georgia residents who graduate from an eligible high school in 2007 or later as the class Valedictorian or Salutatorian; or who graduated with a minimum of a 3.70 cumulative grade point average in the college preparatory core-curriculum subjects and earned a minimum score of 1200 (combined Critical Reading and Math) on a single administration of the SAT or a composite score of 26 on a single administration of the ACT on a test administered before the time of high school graduation. Students eligible for the Zell Miller Scholarship will receive the higher level HOPE Scholarship award of $2308 per semester if full-time, and $1154 per semester if enrolled half-time for students attending a private college or university. Zell Miller scholars must maintain a 3.30 grade point average for continued eligibility. If a Zell Miller Scholar falls below the required grade point average, then the student remains eligible for the HOPE Scholarship, provided the student has a 3.0 grade point average. Zell Miller Scholars will be evaluated at the same increments as other HOPE scholars: 30, 60, and 90 attempted hours and at the end of each Spring semester.

LaGrange College Grants offer a variety of need-based institutional grants made possible by the generosity of alumni, foundations, and individuals. These grants are available to undergraduate degree-seeking students enrolled full time. Recipients must be in good academic standing. A list of LaGrange College grants and their eligibility requirements are available on our website.

The Teacher Education Assistance for College and Higher Education (TEACH) Grant Program provides grant assistance to full-time undergraduate and graduate students who intend to teach in a public or private elementary or secondary school that serves students from low-income families in a designated high-need field. In exchange for the TEACH Grant award, the recipient agrees to serve as a full-time teacher for four (4) academic years within in eight (8) calendar years of completing the program for which the TEACH Grant was received. For more information on this program, contact the Office of Financial Aid or the LaGrange College Department of Education.

Loans

The Federal William D. Ford Direct Loan is a low-interest, repayable loan available to undergraduate and graduate degree-seeking students made through the U.S. Department of Education, the lender. The Federal Direct Loan Program consists of a subsidized and an unsubsidized loan.

Subsidized loans are awarded on the basis of financial need, with the federal government paying interest on the loan while enrolled in school at least half-time, and has a fixed interest rate to be set on July 1, 2017 for loans disbursed between 07/01/2017 and 06/30/18. An unsubsidized loan is available to students regardless of financial need. However, interest accrues from the time the loan is disbursed until it is paid in full. Unsubsidized loans have a fixed interest rate to be set on July 1, 2017 for loans disbursed between 07/01/2017 and 06/30/2018. The borrower has the option to pay the accruing interest or to allow the interest to accrue and capitalize. Federal Direct Loans are subject to an origination fee of 1.073% that will be deducted from the loan amount.

The annual subsidized/unsubsidized Direct Loan limit for a dependent undergraduate is $5,500 for first-year students, $6,500 for sophomores, and $7,500 for juniors or seniors. The annual loan limits for an independent undergraduate is $9,500 for first-year students, $10,500 for sophomores and $12,500 for juniors and seniors. Federal Direct Loans are delivered to the borrower in two (2) separate disbursements, one at the beginning of the enrollment and the second at the middle of the loan period.

Repayment of a Federal Direct Loan begins six (6) months after the borrower graduates, withdraws, or ceases enrollment as at least a half-time student. Although the standard repayment period for a Federal Direct Loan is ten (10) years, the Department of Education offers several repayment plans designed to make repayment affordable.

A Federal Direct Parent Loan for Undergraduate Students (PLUS) is available to the parents of a dependent student to defray remaining educational expenses after all other financial aid resources are exhausted. Eligible applicants may borrow up to the cost of attendance less other financial aid. The interest rate is a fixed rate of to be set on July 1, 2017 for loans disbursed between 07/01/2017 and 06/30/18, and interest accrues from the time of disbursement until the loan is paid in full. Unlike the Federal Direct Loan program, PLUS borrowers must be credit-worthy in order to qualify for this loan, and repayment begins within 60 days of the loan disbursement. Federal Direct PLUS Loans are subject to an origination fee of 4.292%, which will be deducted from the loan amount before disbursement.

Student Employment

There are part-time job opportunities available to eligible students through the Federal Work-Study Program and LaGrange College’s Work Aid Program. Jobs are available on campus and off-campus in community service activities. Funding in these programs is limited. Students interested in student employment must complete the FAFSA. The average student assignment is 8 to 10 hours per week. Student employment awards are made on a first-come, first-served basis until funds are depleted.

Federal Work-Study, a federally-funded student employment program, provides employment opportunities for undergraduate and graduate students with financial need to defray educational expenses through employment in on-campus departments or off-campus community service activities.

LaGrange College Work Aid Program, an institutionally funded student employment program , provides students with opportunities to earn additional money for school through employment in on-campus departments or off-campus community service activities. Although this is a non-need-based program, first priority will go to students who demonstrate financial need.

Disbursement of Financial Aid

All financial aid funds are credited directly to the student’s account.  The funds are applied towards current tuition, fees, room, board, and other charges as authorized by the student.  Financial aid funds are for educational expenses and those students who fail to enroll or attend classes are not eligible for their financial aid award.  Disbursements will only be made to students who have submitted all required documents for disbursement, are registered and have begun attendance in all classes, are meeting Satisfactory Academic Progress standards, and are enrolled for the appropriate number of credit hours to establish eligibility for individual financial aid programs.  Financial aid disbursements are based on the recipient’s enrollment status at the conclusion of late registration.

Repeated Coursework

Federal regulations now limit the number of times a student may repeat a course that was previously passed and receive financial aid to cover the cost of the class.  Effective July 1, 2011, a previously passed course may be repeated only once and be counted in a student’s enrollment status, full-time, part-time, for financial aid.  Once a course is successfully passed for the second time, the course will not count in a student’s enrollment status and aid will not be awarded for the course.  A course that was previously failed and repeated is not limited by financial aid coverage.

Disbursement of Excess Financial Aid

Students with residual financial aid funds after tuition, fees, room, board, and other authorized charges are paid will receive a refund of the remaining credit balance within 14 days of the first day of classes or 14 days from the date the credit occurs (if after final registration).  All refunds must be retrieved from the Business Office and requires a picture ID before disbursement. If the student wishes to leave the credit balance on their account for subsequent terms, he/she must sign an authorization form with the Business Office.

Student Financial Aid and Federal Tax Implications

Students receiving scholarships and grants that exceed their tuition, fees, books and supplies should be aware that these funds are taxable under federal and state tax law. It is important that students maintain records of their grants and scholarships and documentation of educational expenses for reporting purposes.

Federal tax law allows for only qualified scholarships and grants to be excluded from income. Qualified scholarships are any amount of grant and scholarship received that is used for tuition, fees, books, supplies, and equipment required for course instruction. Scholarships and grants that are specifically designated for educational expenses other than those described under qualified scholarships (room, board, transportation, or living expenses) are taxable.

For information, please read IRS Publication 970, Tax Benefits for Education, for more details on reporting requirements or consult a tax professional.

Suspected Fraud

Institutions are required to report cases of suspected fraud to the Office of the Inspector General of the Department of Education, or, if more appropriate, to the state or local law enforcement agency having jurisdiction to investigate these allegations. Fraud may exist if the institution believes the applicant misreported or altered information in order to increase their financial aid eligibility or fraudulently obtained federal funds.