Complete the Free Application for Federal Student Aid (FAFSA). It is an application used to determine eligibility for need based federal, state and Lawrence Tech institutional aid programs. Based on this application you may be eligible for grants, loans and federal work study.
FINANCIAL AID TIMELINE
August 1st: Apply for admission to Lawrence Technological University. Students can start to apply for admission for the upcoming academic year. Students who submit a full and complete application for admission by the posted deadlines will be considered for merit scholarships.
October 1st: 2021-2022 FAFSA opens up for current seniors in high school to fill out. Use Lawrence Technological University’s Federal School code (002279) in order to complete and submit your FAFSA.
- Create your FAFSA ID
- Go to FSAID.ED.GOV
- After completing this, repeat process for Parent FSA ID
- Log into FAFSA.ED.GOV to complete your 2021-2022 FAFSA
- LTU School Code: 002279
- Log in with your FSA ID
- State of Michigan Residents put LTU first for state aid
- State of MI number to change order of school of choice: 888-447-2687
Things you will need to complete the FAFSA
- Student FSA ID
- Parent FSA ID
- Parent 2019 Tax information
- Student 2019 Tax information
- Student and parent can use the DRT (Data Retrieval Tool) to transfer your federal income tax information directly from the IRS
IMPORTANT - Priority Deadline for filing is March 1st
Michigan Residents: Be sure LTU is listed as your first school of choice to be evaluated for Michigan Tuition Grant/Michigan Competitive Scholarship and *Tuition Incentive Program (Prequalified Criteria)
Terms parents and student should know include:
- Expected family contribution (EFC): The amount that the federal government estimates you are able to afford to contribute to educational expenses based on your FAFSA information. What you actually pay toward educational expenses may be more or less than this amount.
- Institutional aid: The Scholarships, grants and other financial aid programs provided by LTU. LTU allows (2) scholarships per our scholarship policy
- Verification: The process of making sure the information submitted on the FAFSA is correct. The federal government requires colleges to have certain students’ FAFSA information verified.
October 1st – December 31: Private Donor Scholarship application is open for CURRENT STUDENTS. Once you are a student at LTU, you can apply for the PDS scholarship in October of your freshman year. Click here to apply. A FAFSA for the upcoming school year will need to be on file in order to be considered. You can apply for the FAFSA here: https://studentaid.ed.gov/sa/fafsa
December 2020: Financial Aid Notifications will be sent out to admitted students if your FAFSA is complete and verified. If you are selected for verification, you will receive a hard copy letter in the mail from the Office of Financial aid. You may need to turn in additional documents.
March 1st: State of Michigan Funding deadline. Fill out your FAFSA before March 1st 2021 in order to be considered for the maximum amount of aid from the state. If you believe you are eligible for the Michigan Incentive Program, please contact the Office of Financial Aid.
June 1st: Private Donor Scholarships will be added to eligible student’s accounts who have received one. An email will go to your LTU email with instructions on who to write the Donor Letter of Appreciation. Please be on the lookout for this email if you receive a private donor scholarship
Lawrence Technological University school code is: 002279
Grants click here for additional information
Federal Loans click here for additional information
PLUS Loan parents can click her for additional PLUS loan information
Work Study click here for additional information
Depending on your financial need, you may borrow subsidized money for an amount up to the annual loan-borrowing limit. Students must demonstrate financial need to apply for a subsidized loan. If you are eligible for a subsidized loan, the government will pay the interest while you are in school, for the first six months after you leave school, and when you qualify to have your payments deferred. Unlike a subsidized loan, the student is responsible for the interest from the time the unsubsidized loan is disbursed until it is paid in full. You can choose to pay the interest or allow it to accumulate and be added to the principal amount of your loan.
After accepting the loan offered, a new borrower will need to complete Entrance Counseling and electronically sign a Master Promissory Note. Funds will then be delivered electronically to Lawrence Tech and disbursed to the student’s tuition account.
Returning borrowers who did not previously borrow from the Federal Direct Loan Program will also need to complete Entrance Counseling and sign a new Master Promissory Note with the Federal Direct Loan Program. Use the above link to begin the process.
Student and parent borrowers of federal loans have the right to cancel their loan disbursements within 14 days of the disbursement notice. Should you decide to cancel the disbursement of your Federal Direct Loan, you should contact the One Stop Center at Enrollmentservices@ltu.edu in writing within the specified time period. By canceling the disbursement, you will be responsible for any unpaid tuition and fees, as well as repayment of loan funds already paid to you.
Any excess funds will be refunded to student borrower from Business Services with in 14 days of a credit balance on their accounts
Additional Information about Student Loans
Lawrence Tech strongly encourages you to do your research before choosing a private loan lender to meet your needs. Please refer to the links below for additional information to help you choose your loan options wisely.
The above links are not hosted by, nor run by, Lawrence Tech.