Financial Aid TV

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Financial aid programs are funded from federal, state, college, and private sources. Most students receive a combination of these forms known as a financial aid "package."



A grant is financial aid that does not require repayment. There are certain eligibility requirements for each program. Students must be meeting the Standards of Academic Progress to be eligible for federal grants. Students who have a bachelor's degree are not eligible for any of the grant programs listed.

Pell Grant

Awarded based on the results of the Free Application for Federal Student Aid (FAFSA).

Grant is dependent upon:

  • Your EFC (Expected Family Contribution – determined by the FAFSA);
  • Your Cost of Attendance;
  • Your enrollment status

You will be awarded the Pell Grant based on full-time enrollment. Should you choose to enroll in less credits, your Pell Grant will prorate based on the number of credits for which you are enrolled.

View the current Pell Chart (Under "Year Specific Forms/Worksheets)
Use this chart located to determine your Pell Grant eligibility. The amount listed is based on the number of credit hours in which you are enrolled each semester at the time of our lock date.
Supplemental Educational Opportunity Grant (SEOG)
  • Awarded to students with the greatest financial need;
  • You must be enrolled in at least six credits each term to receive SEOG.

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Loans are financial aid that require repayment. All applicants for loans are required to file a Free Application for Federal Student Aid (FAFSA). Loan eligibility cannot be determined until the information from the FAFSA is returned to our office by the federal processor, and has been reviewed. Students must meet the Standards of Academic Progress in order to receive loan funds.

As a loan recipient, there are some federal regulations of which you need to be aware. Once you have completed the steps for the loans, we can then request that the funds be sent to us so that we can apply them to your account. Federal regulations state that loan funds can be received only ten days prior to the start of classes each term. If you are in your first year of undergraduate study and you are a first-time loan borrower, there will be an automatic 30 day delay in the receipt of your funds. This means we cannot request the funds until 30 days after the start of your enrollment. This is also a federal regulation.

If your loan is for one term only, your loan will be posted to your account in two disbursements according to federal regulations. The first disbursement will be posted at the beginning of the semester as stated above and the second disbursement will be posted after the midpoint of the term.

Just as loan borrowers are required to complete Entrance Counseling, you must also complete Exit Counseling if you are graduating, leaving Lakeland to attend another school, leaving college altogether, or if at any point during the term you drop below six credits. Keep in mind that federal regulations require you to be in six credits in order to be a loan recipient.

Types of Loans

To be eligible, you must complete the FAFSA, meet the Standards of Academic Progress, and be enrolled in at least six credits.

  • Direct Subsidized Loan:
    This is a need-based loan for which the interest is paid by the government while the student is in school at least half-time.
  • Direct Unsubsidized Loan:
    There is no financial need requirement to be eligible for an unsubsidized loan. However, total financial aid, which includes the unsubsidized loan, cannot exceed the cost of education. Unlike the Direct Subsidized Loan, interest accrues while the student is attending school and can be paid monthly or capitalized (added to the principal) until the student leaves school.
How do I get a loan?

Students with eligibility for federal aid will be offered the Direct Subsidized and/or the Direct Unsubsidized Loan. You then have three options:

  • You can accept the loans for the amount offered;
  • You can accept the loans for a reduced amount that you specify;
  • You can decline the loans.
I have been offered a loan, now what?
  • Accept or reduce your loan offer.
    You can accept it for the dollar amount offered to you or you can accept it for a reduced amount by indicating the dollar amount your wish to receive. You can also choose to decline the entire amount of the loan.
  • Complete Entrance Counseling

    This is designed to provide you with your rights and responsibilities as a loan borrower. The option to accept your loan is available via myLakeland.

    Once you have accepted your loan, you can link to the Entrance Counseling site.

  • Complete the Direct Loan Master Promissory Note.

    This is the legal agreement between you and the Department of Education indicating that you understand this is a loan that must be repaid.

    Once you have completed Entrance Counseling, you can link to the Master Promissory site.

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Federal Work-Study

Federal Work-Study is a program which provides part-time employment while you are enrolled in school. It can help pay your educationally related expenses. You can earn $7.70 or $8.50 for co-op positions. You can work up to 25 hours per week during school and up to 40 hours per week during breaks.

Career Services has a listing of available positions. For more information contact Career Services.

If you are interested in the Federal Work-Study program, you can submit the Federal Work-Study Request form (PDF).


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Scholarships are funds provided to students by the college, the Lakeland Foundation or outside contributors based on criteria determined by the donor.

How do I apply?
  • For Lakeland Foundation Scholarships, complete the online application. The application and a listing of all available scholarships can be found at myLakeland in the Scholarship Center (myLakeland Login Required) which is located in Quick Tools.
  • For outside scholarships, apply directly.
    Scholarship announcements are regularly posted on the bulletin board outside the Financial Aid Office and on the portal announcement channel. Those applications are available in the Financial Aid Office.
Free Scholarship Search Engines:

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