Cash Disbursements
When a student officially or unofficially withdraws from school and has received a cash disbursement for educational expenses that exceeds non-institutional costs of education up to that time, the student owes the excess amount to the Title IV program(s) that helped meet the student’s educational costs. Lindenwood University will follow the same procedures used in the refund policy to determine which Title IV program(s) will receive the student-owed repayment. The university will notify, bill, and collect the amount owed the Title IV program(s) from the student.
Institutional Scholarships and Grants
Lindenwood University offers a 50% scholarship to all persons 60 years of age 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 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 to institutional granted scholarships/grants to student accounts in the following order: tuition, fees, books, room, and 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 payments toward 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 %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%. 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.