Financial Aid for Returning Students
The College is committed to providing comparable levels of need-based financial aid as long as you complete financial aid applications by the deadline, continue to demonstrate a similar level of “financial need,” and maintain satisfactory academic progress.
Renew your aid for 2013-2014 in three steps:
Step 1: Complete the FAFSA
(Free Application for Federal Student Aid)
Review our FAFSA Recommendations
Step 2: Pay the $20 Financial Aid Fee (three options)
- Pay in person (Office of Financial Aid or Business Office)
Send cash/check/money order…
- Payable to Lake Forest College
- In the memo section, write “financial aid fee for (name, ID#)”
- Mail to the Office of Business Affairs
Optional: Complete Special Circumstance Forms
- Complete only if a situation applies to your family
- Should meet or exceed any minimum amount which may be shown
- Please submit by March 1; forms will be accepted after this date
- Educational Expense - $2000; tuition for parent or younger sibling
- Educational Loan in Repayment - for a parent repaying certain loans
- Healthcare Expense - $3000; for expenses paid in 2012 or 2013
- Income Change, parent - a significant change in 2013 vs. 2012
- Income Change, student- a significant change in 2013 vs. 2012
- Second Household - for a family living in two homes in different cities
- Unusual Expenses; $2000 - expenses for daycare, funeral, legal, etc.
Satisfactory Academic Progress
Continued eligibility for financial aid is dependent upon maintaining “Satisfactory Academic Progress” (SAP). At the end of every semester you must achieve and maintain a cumulative grade point average (GPA) of a least 2.00 and must complete at least 67% of all classes attempted.
If you do not meet SAP standards you will be placed on “financial aid warning” for one semester, but will continue to receive financial aid. If you do not meet these standards after the semester of warning status, you will be placed on “financial aid suspension” and will not be eligible to receive financial aid until you meet SAP standards.
If extenuating circumstances have kept you from making satisfactory progress, you may appeal your “Financial Aid Suspension.” The appeal must include an academic plan (approved by the advisor) on how you plan to meet this standard within a reasonable time-frame. If you appeal and are granted an extension of the aid, you will be placed on Financial Aid Probation, on a semester-by-semester basis. The appeal form is available from the Office of Financial Aid.
More, detailed information about this policy can be found here.
If you have been notified of “financial aid suspension” complete this Satisfactory Academic Progress Appeal Form.