general policies
LCC is a non-profit organization that is supported by friends of LCC. Since more than 50% of the LCC tuition is already subsidized (mostly through donations), LCC reserves the right to first offer additional financial support to students from Eastern European and CIS countries as mandated by the LCC Board of Directors specified in the LCC Strategic Plan 2003-2008. Applicants will be awarded financial aid depending on availability of funds and other criteria as set by the LCC administration.
LCC provides aid to students who make satisfactory progress toward a degree and demonstrate financial need. Awards are made based on
availability of funds. LCC assists students primarily in covering tuition costs. The amount and type of aid students receive is
reviewed annually. However, adjustments may be made during the year if there are important changes in family resources or student
budgets.
- Each year students must reapply for financial aid by submitting a Financial Aid application. Details concerning application are
publicized by the Student Financial Services office. Aid may increase or decrease in individual cases depending on changes in a
family's financial circumstances. The most common reasons for award revisions are family financial problems such as loss of income
or emergency expenses, and a shortfall in student summer savings.
- The student and their family are expected to assume the primary responsibility for meeting educational expenses. The amount payable
is determined using the information the student is asked to submit in the Financial Aid application. This expected family
contribution is then subtracted from the total studying cost for the specific academic year, resulting in the student's demonstrated
financial need.
- The Student Financial Services office analyses the student's financial need and extends an offer of financial assistance. All
sources of available aid - scholarships, grants, government loans, and student employment - are considered in making this offer.
- Student can get financial grants only for four years at LCC or up to 8 semesters. If students study longer or take a second major, they must find their own financing opportunities.
procedural policies
- All financial aid is applied to a student's account over two semesters, fall and spring.
- Students must be enrolled in at least 16 credit hours per semester
to receive a financial award. If a student enrolls in less than 16 credit
hours in either semester, they will not receive the award for that semester.
- Financial aid cannot be applied to Summer Session courses.
- Students will receive only one financial grant. If a student qualifies for more than one, they will receive the one with the highest
monetary value, and the other grant(s) will go to the next student who qualifies.
- If a student receiving any financial aid is being placed on probation after the fall semester, their grant allocated for the
spring semester is withdrawn.
- If a student receiving any financial aid decides to take an academic leave, they lose the grant. The student may apply for
financial aid upon re-entry.