NOTE: Students are automatically considered for Board of Trustees Scholarships upon completing application to LSSU by March 1st for the following fall semester.
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 email@example.com 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, the Perkins Loan and Federal Work Study. Title IV School Code for LSSU is 002293.
Scholarship recipients are usually selected based on competitive examinations, scholastic records and/or financial need. The American College Test (ACT) serves as the University’s primary test for scholarship applicants. Test results must be on file by March 1.
Scholarship requirements: Incoming freshmen must have a minimum GPA of 3.3 and ACT of 21 to automatically qualify 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 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.
New federal regulations require a change in Financial Aid Satisfactory Academic Policy (see Final Regulations published October 29, 2010 – 34CFR 668.16 & 668.34). Beginning July 1, 2011, progress will be evaluated under these rules.
Financial aid regulations require that a student must make satisfactory academic progress to remain eligible for financial aid. Financial aid programs affected by this policy include the Federal Pell Grant, Federal Perkins Loan, 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 –
- GPA Requirements – minimum 2.00 cumulative GPA
- Completion Rate - must earn 67% of all credits attempted
- Time Limit – must complete degree within 150% timeframe
In addition, there are some types of aid with more stringent requirements, such as scholarship renewal requirements.
1. GPA Requirements – 2.00
Students must maintain a minimum cumulative grade point average (GPA) of 2.00 each semester to remain in good standing.
2. Completion Rate – 67%
Students must earn 67% of the total number credits attempted to maintain eligibility for aid. Your total LSSU earned credits are divided by your cumulative LSSU attempted credits to determine your completion rate. To maintain eligibility for aid, you must earn at least 67% of the total number of LSSU credits attempted. Progress will be measured each semester. For a single semester, the minimum number of credits needed to reach 67% are shown below:
Attempted Credits Must Earn 67% Attempted Credits Must Earn 67%
21 14 12 8
20 14 11 8
19 13 10 7
18 12 9 6
17 12 8 6
16 11 7 5
15 10 6 4
14 10 5 4
13 9 1-4 all
Each semester the total number of 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 total consortium credits each semester (credits at both LSSU & the community college) to maintain good standing at LSSU.
3. Time Frame – 150% of Length of Program
A student must complete the highest degree they are seeking within 150% of the published length of their program. For example, students working on a Baccalaureate program of 124 credits may receive aid for 186 attempted credits, including transfer attempted credits:
Certificate Within 48 attempted credit hours
LPN Certificate Within 69 attempted credit hours
Pre-Nursing BSN Within 84 attempted credit hours
Associate Within 93 attempted credit hours
Bachelor Within 186 attempted credit hours
Master’s Within 54 attempted graduate hours
Every effort will be made to notify students at least one semester in advance, if approaching these limits. Due to the timing of transfer credits, potential graduation and major changes, a warning semester is not guaranteed. Students should appeal as early as possible to assure sufficient aid eligibility to complete their degree plans.
If a student does not meet the Financial Aid Satisfactory Academic Standards at the end of each semester, the student may be given one warning semester to correct GPA or credits earned deficiencies while receiving aid. If a student fails to meet the standard for a second consecutive semester enrolled, their 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. Students appealing at the end of their “Warning Semester” MUST follow the new appeal process.
Financial Aid Suspension
No aid will be granted once a student’s eligibility is suspended, including but not limited to the Federal Direct Loan, Perkins Student Loan, Federal Direct PLUS Loan, Federal Work Study, Federal Supplemental Educational Opportunity Grant, Federal Pell Grant, Michigan Competitive Scholarship, and Institutional Scholarships and Grants and some Rebates and Waivers.
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.
Students who leave LSSU and then successfully complete 24 credits at a community college within one year after being suspended, will be allowed one probationary semester upon readmission. Successful students must supply a transcript to the Financial Aid Office with their written request for reinstatement.
Right to Appeal – The directions and required forms for the appeal process are available online at http://www.lssu.edu/finaid/pdfs/appealprocess.pdf.
General Scholarship Renewal Requirements
For students offered an LSSU renewable scholarship, the following criteria must be met when reviewed each spring:
- You must earn a minimum of 24 credits each academic year while receiving a scholarship, unless otherwise noted in your award, and the minimum cumulative GPA as required by the award. (See requirement chart for details.)
- You must maintain enrollment each semester (fall & spring) as a continuous full time student. Enrollment for summer semester is not included.
- If you withdraw or leave LSSU for any reason, your scholarship automatically terminates. If you plan to leave for a study abroad program, internship or health reasons, you may request to have your scholarship reinstated by appealing to the Financial Aid Committee.
- To receive the room and board component of any scholarship, you must be in the on-campus room and board program for the semester. If you leave on-campus housing, the room and board award will be terminated. If you return to campus housing (you must be on the room and board plan for the full semester), you can request reinstatement of the room and board component prior to the beginning of the semester you return.
- Most scholarships offered to freshmen are renewable for up to four years.
- Changing majors does not affect the Board of Trustee’s Scholarships, but may affect departmental awards that require enrollment in certain majors.
- Scholarships are not reinstated on appeal, except for students who have left school for reasons stated in #3.
- The scholarship renewal policy is separate from the University’s Academic Standards and Satisfactory Progress Standards for the retention of other forms of financial aid.
- If you do not meet renewal requirements when your eligibility is reviewed each year but raise your GPA or credits earned to the minimum requirements prior to the start of the following fall semester, you must notify the Financial Aid Office in writing that your student record has been updated with new information warranting a review.
Requirements for 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 a qualifying five-year program, scholarships are generally not available to students with more than four years of higher education or eight semesters of study.