Financial Assistance
Financial aid is available to all qualified students. Financial need may be met through a combination of state, federal, and institutional aid. Institutional awards and grants are offered in the areas of academics, leadership, athletics, and the fine arts.
The financial aid program provides assistance to students with financial need who would otherwise be unable to receive an undergraduate education. Financial need is calculated as the difference between the cost of attendance and the expected family contribution from the student and student’s parent(s). The primary responsibility for paying the student’s education expenses rests with the student’s family, and the university expects both to make a realistic contribution to meet these costs; financial aid is a supplement for those students and families who cannot afford the entire cost of a university education.
Financial aid is provided in the form of an award, grant, or loan and/or work funds that will help meet this need. What the student is expected to pay is determined by a standard analysis of the financial statement the student and his/her family must file. Lindenwood University uses the Free Application for Federal Student Aid (FAFSA) to determine eligibility for all Title IV and institutional assistance. Upon completion of all documentation necessary to establish eligibility, financial assistance will be posted to students’ accounts at least once each term.
To be considered for financial assistance, a student applying for need-based aid must complete a FAFSA (Free Application for Federal Student Aid) online at www.fafsa.ed.gov. The LU school code is 002480. (Students should be sure to press “print,” which submits the application). Students should then FAX submission results to the attention of their admissions counselors at (636) 949-4989. If students have any questions about their SAR (Student Aid Report), they are encouraged to call 1-800-433-3243. Lindenwood does not require students to fill out supplementary fee-based forms to determine eligibility for institutional financial aid.
All students wishing to receive Title IV aid must submit a valid set of Student Aid Reports or a valid ISIR (Institutional Student Information Record), which results from the processing of the FAFSA, and must complete any required verification.
Institutional Scholarships and Grants
Lindenwood University offers a 50 percent scholarship to all persons age 60 and over. The university also offers partial institutional grants for employees of selected companies, municipalities, and school systems. These grants may only be applied toward courses taken for credit and do not apply to courses that are audited. Classes taken at the Doctoral level are only eligible to receive the educator grant. Any other funding may first replace the Lindenwood University funding. It is the responsibility of the student to inform the admissions counselor of any scholarship opportunities for which the student may be eligible.
The purpose of the Lindenwood University grant program is to make it possible for the student to earn a degree when it would otherwise be financially prohibitive to do so. In short, a Lindenwood grant (institutional partnership, merit- and need-based gift aid) is intended to fill a funding gap and enable a student with need to pursue further education. The gap is the difference between the total cost of tuition and the sum of all personal and outside funding available to the student. The Lindenwood grant is based on an academic partnership memorandum and merit- and need-based financial aid, after all personal and outside underwriting sources are accessed. When the student becomes eligible for additional outside support, that revenue reduces the student’s “funding gap,” and the Lindenwood grant is reduced by the amount of the additional funds, per the policy above. The intent is for Lindenwood and the student to share equitably in covering the cost of the student’s education.
Taxability of Scholarships and Grants Disclosure
Lindenwood University currently applies institution granted scholarships/grants to student accounts in the following order: 1.) tuition, 2.) fees, 3.) books, 4.) room, and 5.) board. If a student receives scholarships during the calendar year that exceed the cost of tuition, fees, books, supplies, and equipment, the amount that exceeds those costs should be reported by the student as taxable income. The university is required to send information to students and the Internal Revenue Service (IRS) about the student’s tuition charges, grants, and scholarships on Form 1098T. Students are responsible for using this information as well as their own records to complete their tax returns.
Non-U.S. citizens and non-permanent resident aliens may be subject to U.S. taxation. The university uses the GLACIER Online Nonresident Alien Tax Compliance System to gather required information about international students in order to facilitate the tax-withholding determination. Any portion of institution granted scholarships/grants that exceed the cost of tuition, fees, books, supplies, and equipment may be subject to a taxation rate of up to 14 percent for students who have an F, M, J, or Q visa, while all other visa types may be subject to a taxation rate of up to 30 percent. Non-U.S. citizens and non-permanent resident aliens may contact the non-resident employee compliance specialist at (636) 219-1273 to discuss questions about GLACIER or taxation.