Federal Financial Aid
This program provides work opportunity for needy students. Eligibility is dependent upon the extent of financial need, as determined by an analysis of the FAFSA. If a student is awarded work-study funds as part of the financial aid package, that student may seek employment on campus. Ordinarily a student will work 10 hours per week while attending school. Wages are $8 per hour.
The federal government guarantees loans up to $20,500 for eligible graduate students per academic year, and an aggregate limit of $138,500.
Students must file the FAFSA to determine eligibility for a Stafford Loan. New borrowers can complete a Master Promissory Note and Loan Counseling online at studentloans.gov. Lindenwood will receive electronic notification once the application is complete.
This loan provides for a maximum $20,500 a year and $138,500 aggregate for graduate students. Unsubsidized Stafford Loans are not need based and interest accruing on the loan is not subsidized (or paid) by the federal government while the student is in school. Students must therefore pay the interest payments while in school or allow the interest to capitalize. Interest rates for federally guaranteed student loans are set annually. Please consult the Department of Education website for the current interest rate https://studentaid.ed.gov/types/loans/interest-rates .
Pursuant to section 479A(c) of the Higher Education Act, Lindenwood University reserves the right to refuse to certify a loan application or to reduce the amount of the loan in individual cases where the institution determines that the portion of the student’s costs covered by the loan could more appropriately be met directly by the student. In addition, requested loan amounts will be reviewed to ensure compliance with educational purpose regulations.
Student loans are funds borrowed by students to pay educational expenses. Student loans must be repaid, as outlined in University literature. A sample loan repayment schedule may be obtained by contacting the Financial Aid Office.
Student loan entrance and exit interviews are required for the Federal Stafford Loan Program (required by 34 CFR 685.304). The terms and conditions under which borrowers under the Direct Loan Program may defer payments of their loan principal and interest are reviewed during the exit interview. Additional information regarding deferment of loan repayment may be obtained by contacting the student loan guarantor or the Financial Aid Office.
Assistance may be available for students with disabilities. Students should contact their regional office of Vocational Rehabilitation in regard to benefits.
Veterans who believe they may be eligible for benefits can receive information and applications through the V.A. coordinator at the University. Educational assistance is also provided to widows or children of veterans who died in service or as a result of service related injuries. Spouses and children of disabled veterans are also eligible for assistance.
It is the responsibility of the students to notify the V.A. coordinator of any changes in their class schedules. The Registrar’s Office promptly reports to the Veterans Administration when notified that a veteran is making unsatisfactory progress or has withdrawn from a class or from studies.
Because of requirements imposed by the Veterans’ Administration, and as a condition of being certified to receive benefits from the V.A., the student receiving such benefits acknowledges the following policies, which may differ from those required of other students at Lindenwood:
- The University will notify the V.A. of all terminations, interruptions, or changes in semester-hour load within 30 days. This may change the benefits available to the student.
- The student accepts the responsibility of notifying the Registrar, the V.A. coordinator at the University, and his/ her advisor immediately in case of withdrawal from any course.
- The student accepts the responsibility of notifying his/ her instructors of any expected absence from class. A student may be withdrawn by the University for excessive absence.
- The Veterans Administration will be informed that progress is no longer satisfactory with the accumulation of 12 or more hours of F grades.
Students receiving benefits through the Veterans’ Administration must comply with the University’s general policies regarding withdrawal, attendance, and satisfactory progress.