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Lake Superior State University

Financial Aid

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Overview

Financial Aid Mission Statement

The mission of the Financial Aid Office is to provide accurate and timely financial aid information to students to meet their educational expenses.

Our goal is to offer all students a balanced financial aid package that is competitive and attractive, and best utilizes the resources available.

We strive to assist and educate our students by providing the best service possible so that they can focus on their educational experience.

Financial Aid Office

The LSSU Financial Aid Office staff is available to assist students with the financial aid process. Our experienced staff is available during office hours to respond to financial aid questions and requests. No appointments are necessary. Students are assisted in the office on a walk-in basis or may call (906) 635-2678 to speak with a financial aid representative.  The Financial Aid Office email address is finaid@lssu.edu and website is http://www.lssu.edu/finaid.  The Financial Aid Office is located in the Fletcher Center for Student Services on the campus of Lake Superior State University.

Financial Aid Offer

Financial aid is any money used for students' educational expenses and includes grants, scholarships, loans and student employment.  An offer of financial aid in the form of a university scholarship is made when a qualified student is initially admitted to LSSU.  Other offers of aid follow the admission and receipt of federal applications or athletic tenders.  LSSU participates in federal, state and province aid programs and provides a generous institutional scholarship and grant program. An “Official Offer of Award” letter from the Financial Aid Office is sent after all documents needed to complete a student award are received and reviewed.

Applying for Federal Financial Aid

To apply for most types of aid, students must complete a Free Application for Federal Student Aid (FAFSA). This application must be renewed each academic year for a student to continue receiving financial aid. The priority filing date for the FAFSA is March 1, and students who have completed a FAFSA by this date will be considered first for priority financial aid. Priority aid includes certain federal and state grants, and Federal Work Study.  Title IV School Code for LSSU is 002293.

Scholarship Selection

NOTE:
Students are automatically considered for Board of Trustees Scholarships upon completing application to LSSU by May 1st for the following fall semester.

Scholarship recipients are usually selected based on competitive examinations, scholastic records and/or financial need. The American College Test (ACT) and the College Board SAT test serve as the University’s primary tests for scholarship consideration.  Test results must be on file by May 1.

Scholarship Requirements

Board of Trustees' Scholarships are determined by earned GPA and ACT/SAT score.  A minimum GPA of 3.00 and ACT of 19 is required for automatic review for a scholarship. The recipient of any award must be a full-time student carrying 12 academic hours or more each semester.

Satisfactory Academic Progress (SAP) Requirements for the Retention of Financial Aid at Lake Superior State University

If you are receiving any form of financial aid, you must meet these satisfactory academic progress requirements to retain your aid each semester.

Financial aid regulations require that a student must make satisfactory progress to remain eligible for financial aid. Financial aid programs affected by this policy include Federal Pell Grant, Federal Work-Study, Federal Supplemental Educational Opportunity Grant, Federal Direct Loans, Federal PLUS Loans, State of Michigan and Institutional Scholarships, Grants, Loan and Work Programs, and some Rebates and Tuition Waivers.

The minimum requirements for all types of financial aid include three standard measures:

  1. Minimum GPA Standard: Students must maintain a minimum cumulative grade point average (GPA) of 2.0 each semester to remain in good standing.

  2. Credits Earned Standard: Each student’s progress in total LSSU credits attempted and earned will be reviewed every semester. Students must earn 67% of the total number of LSSU credits attempted to maintain eligibility for aid.

    Each semester the total number of LSSU credits attempted and earned will be evaluated, including
    remedial coursework. All prior LSSU credits will be used to determine if the student has earned at least 67% of their total credits attempted. For example, if a student attempts 16 credits for fall and 16 credits for spring semester, the student must earn 22 credits to meet the 67% completion requirement. (16 + 16 = 32 x 67% = 21.44 credits or 22.)

    NOTE: Transfer credits that have been evaluated and accepted for credit at LSSU will be added to both the credits attempted and earned cumulative totals, however, transfer students must also earn 67% of their LSSU credits each semester to maintain good standing.  Consortium students must earn 67% of the combined total credits each semester (credits at both LSSU & the community college) to maintain good standing at LSSU.

  3. Maximum Time Frame — 150% of Length of Program: A student must complete the highest degree being sought within 150% of the published length of his/her program. For example, students working on a baccalaureate program of 124 credits may receive aid for 186 attempted credits, including transfer attempted credits:

Degree Average Credits Needed Maximum Time Frame
Paramedic Certificate 40 Within 60 attempted credits
LPN Certificate 47 Within 70 attempted credits
Pre-Nursing BSN 56 Within 84 attempted credits
Associate 62 Within 93 attempted credits
Bachelor 124 Within 186 attempted credits
Teaching Certificate 136 Within 204 attempted credits
Master's 36 Within 54 attempted credits


One WARNING SEMESTER

If a student does not meet the Financial Aid Satisfactory Academic Progress (SAP) at the end of each semester, the student will be given one warning semester. Students may receive aid during the warning semester. If a student fails to meet the standard for the second consecutive semester enrolled, the financial aid will be suspended. During the WARNING SEMESTER, it is highly recommended that students plan ahead and work with an advisor to correct deficiencies.

Financial Aid Suspension

No aid will be granted once a student’s eligibility is suspended, including but not limited to federal, state and institutional aid.

Right to Appeal

A student whose aid is suspended may request reinstatement through the Financial Aid Appeals Committee.  The student must effectively demonstrate that the failure to meet satisfactry Academic Progress (SAP) was due to an unusual or extenuating circumstance, and explain what has changed.  The directions and required forms for the appeal process are available online.

Financial Aid Self-Reinstatement

Once financial aid is suspended, both the cumulative GPA and credit hour completion standards must be met in subsequent semesters of at least six credits before reinstatement of aid is possible. Students who successfully complete a minimum of six credits at LSSU while not receiving financial aid must contact the Financial Aid Office to request a review for reinstatement.

If completion of “I” grades or other record changes warrant a reinstatement, a copy of the transcript must be submitted to the Financial Aid Office with a written request for a review.

Repeat Policy for Financial Aid Recipients

Students may use financial aid to repeat coursework that has been previously failed. Students may also use financial aid one time when repeating coursework to improve an earned letter grade of D- or higher.

For example, a student taking a course for the first time who received an F grade could have financial aid to repeat the course. If the student received a D grade for the repeated course, the student could have financial aid one more time to repeat the course to raise the grade. Students advised to retake passed courses more than once to improve their GPA may do so at their own expense, provided the repeats are allowed by the department.

NOTE: Satisfactory Academic Progress Policy is in compliance with the Department of Education Final Regulations published Oct. 29, 2010 - 34CFR 668.16(e), 668.32(f) & 668.34.

LSSU Scholarship Renewal Requirements

If your scholarship was offered to you as a “renewable” award, it is important that you have met the criteria listed below each spring when your eligibility is reviewed for the next year.

  • Board of Trustees Freshman merit scholarship:  2.75 LSSU cumulative GPA
  • Full-Tuition Scholarships: 3.00 LSSU cumulative GPA
  • Full-time enrollment each semester; must earn 24 LSSU credits each academic year.
  • Awarded up to 8 consecutive semesters or until 1st Bachelors Degree is earned, whichever is first.
    Students in their teaching internship semester may be eligible to receive a 9th semester renewal.
  • Awarded for Fall and Spring semesters only, not available for use in summer semesters.
  • To receive the on-campus component of any scholarship, you must be in the on-campus housing program for the semester. If you leave on-campus housing, the room and board award will be terminated.

    NOTE: Scholarships and other institutional funds provided as grants or scholarships or stipends for campus R&B students, will not exceed the basic rate cost of housing and board.  This includes RA Grant, LSSU Supplemental Grant, the LSSU Housing Grant and all room and board components of Board of Trustees scholarships.

  • Students at LSSU Regional Centers and meet consortium agreement requirements, if enrolled at least half-time (6+ credits) at LSSU, may use a semester of eligibility at a prorated amount.
  • Must meet Satisfactory Academic Progress policy requirements.

Transfer Scholarships

Formula to determine the maximum number of semesters of eligibility:

  • Senior (88+ credits) = Two semesters of eligibility
  • Junior (56-87 credits) = Four semesters of eligibility
  • Freshman/Sophomore (12-55 credits) = Six semesters of eligibility

Length is based on number of ATTEMPTED credits prior to LSSU

NOTE: Some types of financial aid awards, such as an employee rebate, the Native American Tuition Waiver, or the Tuition Incentive Program, could affect your eligibility for an LSSU scholarship. Please contact the Financial Aid Office for further details.

Frequently Asked Questions

  • Full tuition scholarships are limited to 12-17 credits per semester for the academic year and do NOT include any special course fees, program fees, media fees, etc.

  • Full tuition scholarships can not be combined with tuition waivers, such as Michigan Indian Tuition Waiver or Employee Rebates.

  • Recipients of donor-funded scholarships are encouraged to write thank you letters to the donors and may be invited to special donor events.

  • Departmental scholarship recipients must notify the Financial Aid Office if changing their major course of study to determine the affect on their award!

New Scholarships for Current Students

Renewable scholarships are based on your grade level and number of credits transferred or earned at the time of your award.  For example, if you are offered a renewable scholarship as a sophomore, you will generally be eligible for two additional years of scholarship.  If an ending date is not stated in your offer of scholarship, please contact the Financial Aid Office if you have questions about the renewal features of your award.  Except for students in their fifth year of the teaching program, scholarships are generally not available to students with more than four years of higher education or eight semesters of study or more than 124 attempted credits.





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