Lake Superior State University
Lake Superior State University
 
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Financial Aid Office

Available Financial Aid

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Michigan Financial Aid - Pending Budget Approval
Other Aid Sources

Federal Financial Aid

Federal Pell Grant

All students filing the FAFSA are automatically reviewed for Pell Grant eligibility. Pell Grants provide assistance to which other forms of aid may be added.

Pell Grant amounts vary according to the year ($602-$5730 for 2014-15) and number of credits enrolled in each semester.

To be eligible for a Pell Grant, students must:

  1. Be determined to have financial need.
  2. Be undergraduates accepted for admission and enrolled in eligible programs and meet satisfactory academic progress standards.
  3. Be U.S. citizens or permanent residents or qualified Jay Treaty students.
  4. Not be in default on a Federal Direct Stafford or Perkins Loan, and not owe a refund for a Pell Grant or other federal aid.
  5. Not be disqualified due to prior drug offense convictions.

There is a limit to the total amount of Federal Pell Grant that a student may receive in their lifetime, which is the equivalent to 6 school years.

Although awards are made through the University, the U.S. Department of Education determines eligibility. The University Financial Aid Office uses a standard procedure established by the Department of Education to calculate the award.

To apply, complete the Free Application for Federal Student Aid (FAFSA). Forms are available at high schools, colleges and financial aid offices or online at www.fafsa.ed.gov.

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Federal Supplemental Educational Opportunity Grant (FSEOG) (Priority aid)

The Higher Education Act of 1965 created this program of financial assistance to help college students with the greatest financial need. Supplemental Educational Opportunity Grants may be used to meet all or part of student financial need (up to $1000 in any one year).

Financial need is the primary consideration in the selection of grant recipients. Priority is given to the neediest Pell Grant recipients. Recipients are selected from those applying for all forms of financial aid by using the FAFSA.

FSEOG is a priority fund that is distributed first to students who file their FAFSA by March 1st.
Recipients of this award must reapply each year and maintain the regular satisfactory academic progress standards to be considered for a renewal award.

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Federal Occupational Education Program (OCED)

The Perkins Grant Program provides OCED funding for students with demonstrated financial need, as determined by filing the Free Application for Federal Student Aid (FAFSA), and who are enrolled in certain Associate’s degree programs. Students who qualify for the Federal Pell Grant and have earned less than 72 credits will automatically be considered if enrolled in one of the following Associate’s degrees:

  • Criminal Justice - Corrections
  • Criminal Justice - Law Enforcement
  • Early Childhood Education
  • Fire Science
  • Health Care Provider
  • Manufacturing Engineering Technology
  • Natural Resource Technology
  • Small Business Administration
  • Substance Abuse Prevention and Treatment
  • Technical Accounting

This grant provides supplemental funding for qualified students and may be pro-rated for less than full-time attendance.

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Federal Work-Study (Priority aid)

If you have demonstrated financial need, you may be eligible for employment by Lake Superior State University under the federally supported Work-Study Program. You must file a FAFSA to be considered for this program and have financial need.

Students may work up to 19 hours weekly while attending classes at least half-time. During the summer or other vacation periods when you do not have classes, you may work full-time (40 hours per week) under this program.

The basic starting rate tends to be commensurate with the current minimum wage. Higher rates are paid for highly specialized work.

America Reads Program at Lake Superior State University is another work study opportunity for students. Students work as reading tutors in the local elementary schools and are paid through the Federal Work-Study Program. Interested students should request this unique employment experience when submitting their applications for employment.

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Campus Job Opportunity

If you are interested in working on campus, but do not qualify for work study, you may be employed under the Campus Job Opportunity Program. Students must be enrolled full-time, and may work up to 19 hours per week. During the summer and other vacation periods, students may work up to 40 hours per week.

Every effort is made to employ students in areas of study providing a “learn while you earn” situation. On-campus jobs include work in laboratories, libraries, maintenance, offices, switchboard, and food service areas. You can earn approximately $2,000 during the school year and up to $4,600 in the summer with an on-campus job.

It is recommended that students on academic probation do not continue or seek employment until probationary status has been corrected.

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Bureau of Indian Affairs Scholarship Grant

Members or those eligible for membership in a federally recognized tribe showing need, may apply for Bureau of Indian Affairs Scholarship Grants by contacting their tribal education office for an application. It is possible to receive up to full university expenses per year in scholarship grants if financial need is demonstrated.

All applicants must complete a Free Application for Federal Student Aid (FAFSA).

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Bureau of Indian Affairs Vocational Training Assistance

Native students enrolled in certificate or associate degree programs are eligible for assistance to pay for tuition, books and living expenses. You must be a member or eligible for membership in a federally recognized tribe.

Awards are based on financial need. Applicants must complete a Free Application for Federal Student Aid (FAFSA). Applications may be obtained by contacting the Tribal Education Office.

 

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Federal Perkins Loan (Priority aid)

The Federal Carl Perkins Loan program is for students enrolled at least half time in an eligible program who need a loan to meet educational expenses.
Students may borrow up to $5,500 for each year of undergraduate study. The lifetime loan limit for undergraduates is $27,500. The amount awarded by the University is generally less due to limited funds.
Repayment begins nine months after students graduate or drop below half-time enrollment. There is a 10-year pay back period, at five percent interest on the unpaid balance of the loan principal.
The amount of the repayment depends on the size of the debt and ability to pay. In most cases, students must pay at least $40 a month. Any agreement for a lesser amount must be attributable to extraordinary circumstances such as prolonged unemployment.
Default: If a student defaults on a Perkins Loan and the school is unable to collect, the federal government will take action to recover the loan. In cases of bankruptcy, total or permanent disability or death, loan obligations are canceled.

Deferment of repayment is available if:

  1. You are enrolled and attending as at least a half-time student at an institution of higher education
  2. For any period not to exceed three (3) years you :
    • are unable to find full-time employment.
    • are experiencing economic hardship.
    • are active in certain military service.

CANCELLATION
Loans may be canceled for performing qualifying (full-time) services in areas such as:

  1. Teaching
  2. Early Intervention Services
  3. Law Enforcement or Corrections Officer
  4. Nurse or Medical Technician
  5. Child or Family Service Agency
  6. Attorneys Employed in a Defender Organization
  7. Firefighters
  8. Tribal College or University Faculty
  9. Librarian
  10. Speech-Language Pathologist
  11. Service in an Early Childhood Education Program
  12. Certain Military Services
  13. Volunteer Services

Loans may be discharged due to death, total and permanent disability, bankruptcy, and school closure.

For further information, print and review the Perkins Master Promissory Note, Statement of  Rights & Responsibility, and the entrance interview questionnaire by clicking here.

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Federal Nursing Loan

The Nursing Education Loan Program provides loans of up to $5,000 a year for students working towards a degree in the nursing program. Eligibility requirements include, but are not limited to; United States citizenship, enrollment of at least half time and demonstrated financial need.

ATTN:  Nursing Students
Apply for repayment assistance with the Department of Health and Human Services by clicking here.

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Federal Direct Subsidized and Unsubsidized Student Loans

Qualified applicants must be a United States citizen or eligible alien. Students may borrow up to $5,500 the first year of undergraduate study, $6,500 as a sophomore and $7,500 as a junior or senior. The lifetime maximum amount is $31,000 for dependent students and $57,500 for independent undergraduate students.

The student loan program is administered through the Financial Aid Office under the Direct Loan Program. Under federal law, a 1.073% loan origination fee is charged to each loan disbursement. Loans are disbursed in two equal disbursements (one-half in the fall semester; one-half in the spring semester).

Subsidized loans are eligible for federal interest benefits. For subsidized loans, the federal government does not charge interest while attending school at least half-time, during the six-month grace period, and during deferments (postponements of repayments). Financial need must be shown to receive this type of loan.

For students without financial need, the Direct Loan Program offers Direct Unsubsidized Loans. The federal government charges interest on these loans while attending school, in the grace period, and in deferment.

Once enrolled at Lake Superior State University, students must meet the satisfactory progress standards to be eligible for additional loans. Students must file a Free Application for Federal Student Aid (FAFSA) each year to qualify for a student loan.

Repayment begins six months after graduation or the date the student attends school less than half-time. Interest rates are set each June for the following academic year.

Click here for sample disclosure statements and borrower rights: dlplain, dlrights, subunsubds

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Federal Direct PLUS Loan (Parent)

Parents may borrow up to the difference between the cost of education and other financial aid for which the student is eligible. The interest rate is adjusted annually for new loans; the 2014-15 fixed interest rate is 7.21%.

Students must meet the satisfactory progress standards to be eligible and must file a Free Application for Federal Student Aid (FAFSA) each year to obtain a Federal Direct PLUS loan.
A loan origination fee of 4.292% is deducted from each of two disbursements made in a school year. Repayment begins within 60 days of disbursements, or may be deferred until six months after student graduates or drops below half time. Interest rates are set each June for the following academic year.

Sample disclosure statements and borrower rights: plusds, plusplain, plusrights

Click here for more information on Parent PLUS loans.

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Federal TEACH Loan Forgiveness Program

The TEACH Grant is a Loan Forgiveness Program for students who plan to become teachers in certain fields and for teachers who are seeking a graduate degree.

Qualified students may borrow up to $4,000 per year if full time, prorated for part time students.
Maximum of $16,000 for undergraduate student.
Maximum of $8,000 for Masters with lifetime limit of $24,000.

Award becomes an unsubsidized federal student loan with interest accruing from initial point of disbursement if the student does not meet forgiveness criteria within eight years.

Qualifications:

  1. Student must be admitted into an approved major- see list on website @ www.lssu.edu/finaid/teachlist.php.
  2. Student must have scored above 75th percentile on admissions test or Graduate Records Exam (GRE). Submit a copy of your original ACT results clearly showing your score above the 75th percentile.
  3. Student who did not meet the test criteria must have a cumulative GPA of 3.25 or higher.
  4. If qualified by GPA, must meet that minimum each semester.
  5. Student must complete Entrance Counseling, Interim and Exit Counseling.
  6. Student must complete Agreement to Serve each year.

Criteria for forgiveness of loan for students:

  1. Must complete four years of teaching within eight years of finishing program.
  2. Must perform teach service as a highly-qualified teacher.
  3. Must teach in a high-need subject area for at least four years at a school serving low-income students.
  4. Must be a full-time teacher with majority of time spent teaching one of the high need subjects:
    • Bilingual Education and English Language Acquisition
    • Foreign Language
    • Mathematics
    • Reading Specialist
    • Science
    • Special Education
    • Other teacher shortage areas documented as high need by Federal, State or local education agency and listed in Department of Education Annual Teacher Shortage Area Nationwide at the time the student begins teaching.

For more information on how to receive the TEACH grant, click here.

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Michigan Financial Aid

Michigan Tuition Incentive Program (TIP)

The Tuition Incentive Program (TIP) encourages eligible students to complete high school by providing tuition assistance for the first two years of college and beyond. To meet the financial eligibility requirement, a student must have (or have had) Medicaid coverage for 24 months within a 36-consecutive-month period as identified by the Michigan Department of Human Services (DHS), and have applied to use the TIP program before high school graduation or GED completion.

TIP provides assistance in two phases:

Phase I covers tuition and mandatory fee charges for eligible students enrolled in a credit-based Associate degree or Certificate program at a participating Michigan community college, public university, degree-granting independent college, federal tribally-controlled college, or Focus: HOPE.

Phase II provides a maximum of $2,000 total tuition assistance for credits earned in a four-year program at an in-state, degree-granting college or university.

For more information on the TIP program, go to www.michigan.gov/mistudentaid/ or contact the Michigan Office of Scholarships and Grants at osg@michigan.gov or 1-888-447-2687 BEFORE YOU GRADUATE HIGH SCHOOL if you think you may be eligible.

Awards are subject to legislative changes.

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Michigan Competitive Scholarship

These State scholarships range from $100 to $1,300 at Lake Superior State University. Applicants must:

  1. Have been a continuous resident of Michigan for a 12-month period before July 1 of the award year.
  2. Be a Michigan high school graduate.
  3. Attain qualifying American College Test (ACT) sum score of 90 or higher.
  4. File FAFSA by March 1st and demonstrate financial need.

In order to renew the scholarship each year, students must be in good academic standing with at least a 2.0 GPA and must meet Satisfactory Academic Progress requirements. High school seniors must take the ACT by December of their senior year.

For more information visit the Michigan Competitive web site at: https://treas-secure.state.mi.us/osg/welcome.asp.

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Police Officer's and Fire Fighter's Survivors Tuition Program

P.A. 195 of 1996 established this program to provide a waiver at state public institutions of higher education for children and surviving spouses of Michigan police officers and fire fighters killed in the line of duty. The Office of Scholarships and Grants began administering this program on behalf of eligible students beginning with the 2010-11 academic year. (The program was formerly administered by the Michigan Commission on Law Enforcement Standards - MCOLES).

To be eligible, students must:

  • be the natural or adopted child of the deceased and must be under the age of 21 at the time of the police officer's or fire fighter's death
  • be enrolled at least ½ time in a program of study leading to a degree or certificate
  • be an undergraduate
  • be a Michigan resident
  • demonstrate financial need

For more detailed information and application forms, click here, or contact the Office of Scholarships and Grants at: osg@Michigan.gov or call toll-free 1-888-4-GRANTS (1-888-447-2687).

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Fostering Futures Scholarship

There is a new scholarship opportunity for youth who have experienced foster care in the state of Michigan. This scholarship offers foster youth funds for tuition, fees, room/board, books, and supplies/equipment required for enrollment.

  • Student must have been in Michigan foster care on or after their 13th birthday.
  • There is no upper age limit.
  • Student must be attending a Michigan public or private 4-year college/university or a community college.
  • Funding can be used only for the following: Tuition, fees, room/board, books, and supplies/equipment required for enrollment.
  • This funding can be used along with ETV.

There is no maximum amount, but must be for a specific unmet need for the following: Tuition, fees, room, board, books, supplies and
equipment required for enrollment.

Submit the application and send with a copy of your financial aid award letter, tuition bill, most recent transcript or grade report, and
documentation supporting any off-campus expense requested to:

Michigan Education Trust
PO Box 30198
Lansing, MI 48909
Fax: (517) 373-6967

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Vocational Rehabilitation

The Michigan Jobs Commission Rehabilitation Services provides services and financial assistance to persons with any disability that has interfered with, or may interfere with, the individual’s job performance. Students must apply for financial aid and have need.

Further information may be obtained by contacting your nearest Michigan Rehabilitation Services Office of Michigan Jobs Commission.

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Institutional (LSSU) Aid

LSSU Scholarships

  • Michigan Incoming Freshman
  • Ontario Incoming Freshman
  • Transfer Students
  • Out of State and Foreign Incoming Freshman
  • Current Students
  • Departmental Scholarships
  • Philip Hart Scholarship
  • Additional Scholarships

Learn more about our scholarships by clicking here

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The Lake Superior State Board of Trustees’ Grant Program (Priority aid)

This program provides assistance to incoming and currently enrolled students based on financial need. The grant is considered a form of “priority aid”, requiring the on-time filing of the FAFSA each year by March 1st and on-time admission to the university. Recipients must be Michigan residents and enrolled full time in Lake Superior State University classes.

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Michigan Indian Tuition Waiver

Students meeting the criteria may be eligible for a full waiver of tuition while working on their program at LSSU. Beginning summer of 2010, the Michigan Indian Tuition Waiver, previously administered by the Inter-Tribal Council of Michigan, is now administered by the Michigan Department of Civil Rights (MDCR), as directed by the Michigan Indian Tuition Waiver law, Public Act 174 of 1976. Students seeking the waiver must submit a certified application and supporting documentation to MDCR prior to receiving the waiver. MDCR will review the application and provide information concerning the waiver to LSSU. Students must also request the waiver each semester prior to the "census date" and must have all required documentation on file.

Students must meet the following criteria to be eligible for the MITW:

  • 1/4 blood quantum (certified by Tribal Enrollment Dept.)
    and
  • Member of a Federally recognized Tribe (certified by Tribal Enrollment Dept.)
    and
  • Resident of Michigan for 12 consecutive months (certified by LSSU)

To apply for the use of the Michigan Indian Tuition Waiver (MITW) at LSSU:

1. Complete the MITW application and submit it to your Tribal Enrollment Office.
2. Be prepared to submit proof of Michigan residency for 12 months prior to the start of the semester.
3. Complete your LSSU request for MITW each semester before the census date (the last day to add/drop classes at a 100% refund).
4. Check your My.LSSU: Anchor Access account regularly for updates and required documents.

Michigan Indian Tuition Waiver (MITW) Application

MITW Frequently Asked Questions

MDCR - Michigan Indian Tuition Waiver

MDCR - Michigan Department of Civil Rights

LSSU Request to use MITW

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Other Aid Sources

Alternative Loans

Alternative loans are not Federal loans. All students may be eligible for Federal aid. Federal loans with fixed interest rates of 6.8% or less are available to students and families at all income levels. LSSU recommends that students borrow their maximum eligibility in Federal loans before applying for alternative loans because Federal loans generally have better terms, conditions and borrower benefits than alternative loans. The maximum annual limit for Federal loans is: $5500 Freshman, $6500 Sophomore, $7500 Junior/Senior dependent students. Independent students may be eligible for an additional $4000 or $5000. File a FAFSA at www.fafsa.gov  to apply for federal financial aid including federal loans. 

Another Federal loan option is the Parent PLUS loan for dependent students. This loan is available to parents at 7.21% fixed interest. The PLUS loan limit is the cost of attendance less other financial aid.

Alternative loans provide additional monetary assistance to students who have been awarded their maximum eligibility in federal and/or institutional aid, but require additional funding. Some students will automatically be offered an alternative loan on their Official Offer of Award or the loans can be requested through some of the following web sites or at the Financial Aid Office.

In the spring of each year, several lenders are asked to respond to a Request for Information and submit detailed information for our evaluation.  The details are summarized on the attached chart for your review. These lenders were used by LSSU students since August 2008. Students are free to select the lender of their choice for alternative loans. Selected lenders do not have to be one of those included on the comparison chart. LSSU will process loan applications from any lender in a timely manner. Students must inform the financial aid office of all loans taken for educational purposes.    

Following is a listing of lenders who have loaned to LSSU students in the past, but the loans are no longer available: Key Bank, Citibank, Mi-Loan, College Loan Corporation, Campus Door, TERI, NellieMae, and Nelnet. The following lenders currently lend to LSSU students, but not as commonly as those listed on the chart: Pentagon Federal Credit Union, Citizens, and the Alaska Family Education Loan from the Alaska Commission on Post Secondary Education.

When applying for an alternative loan, a Self-Certification Form will be required. These forms can be found on most lenders web sites as well as our web site. To complete the form, you will need to know your cost of attendance and your estimated financial aid. To obtain these figures, use our Loan/Cost Estimator Tool or Anchor Access, Financial Aid Tab.

Loan Processing Deadlines:

Due to the processing time, loan requests can not be honored during the last two weeks of the semester. Please submit any requests for alternative or Federal direct loans to the LSSU Financial Aid Office before the last two weeks of the semester.

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Canada Student Loan (OSAP)

Canadian students who need financial help to earn a degree at Lake Superior State University may apply for aid through the Ontario Student Assistance Program (OSAP).

To qualify for a loan, the student must:

  1. be a Canadian citizen or have landed immigrant status;
  2. be a resident of a province that participates in the plan;
  3. have attained a satisfactory scholastic standard;
  4. be enrolled or qualified to enroll in a post-secondary course of studies;
  5. be taking at least 60 percent course load (eight credits);
  6. complete an application for OSAP at www.osap.gov.on.ca;
  7. bring Program Information Form to the LSSU Registrar’s Office to be completed and mailed by LSSU.

The loans are interest free for full-time students and until six months after graduation or termination of full-time studies. After the interest-free period has expired, students are responsible for the repayment of principal and the interest on the outstanding balance at a loan rate in effect when repayment begins.

Application forms are available on-line at www.osap.gov.on.ca.

OSAP FAQ's

Application forms are also available from Student Awards Branch, Ministry of Education and Training, P.O. Box 189 Red River Road, 4th Floor, Thunder Bay, Ontario P7B 6G9. Telephone 1-800-645-3013.

Click here for more information on OSAP.

 

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International Student Loans

The program is a way for Canadian students to supplement the money they receive from the Canadian government through the Canada Student Loan Program.

Features and Benefits:

· Flexible limits. Undergraduate students may be approved for a line of credit starting with a limit of $5,000 and $10,000 for postgraduate students. Students pursuing a professional degree can apply for professional designation loans, with limits between $40,000 to $150,000, based on the professional degree program.

· Lower interest rate. Competitive interest rates.

· No annual fee. There is no annual service fee or cost to set up the line of credit. Plus, there is nothing to repay if the student does not use the credit line.

· Easy to repay. As long as student is in school full-time or part–time, they only have to pay the interest owing each month on the line of credit. After graduating, they have up to 12 months before they start repaying the principal they've borrowed on a fixed payment schedule.

· Use credit again and again. The credit line is different than other student loans. It's a revolving line of credit, which means that instead of taking all the money up-front, a student arranges to have an amount of money available each year. This is the student’s credit limit. Once a student applies, they never have to apply again. They can borrow all or any amount of the line of credit, at any time up to their approved credit limit—and they can keep using the line of credit up to their credit limit as long as they pay down the balance and their account is in good standing.

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Veterans and Active Duty Educational Benefits

Lake Superior State University’s VA Certifying Official acts as a liaison between the Department of Veteran Affairs and eligible students. Student eligibility for veterans educational benefits is determined by the United States Department of Veterans Affairs. Students who believe they are eligible for veterans educational benefits are encouraged to contact the U.S.  Department of Veterans Affairs and the Michigan Department of Military and Veterans Affairs for educational assistance programs.  Additional information is available at LSSU’s Veterans Benefits web site at www.lssu.edu/registrar/va.  A Veterans Educational Benefits recipient must be admitted into a degree program or as a guest student. The student is required to provide the University’s VA Certifying Official with a degree audit form from their department. All transfer credit is evaluated and recorded as “credit for previous training”. Classes may not be repeated if passing grades were received. Each semester the student must provide a completed certification form of scheduled classes within their declared major to the University’s VA Certifying Official. The student must also notify the University’s VA Certifying Official of any change to their scheduled classes, academic program, or withdrawal from the University. These activities along with attendance are monitored and reported to the U.S. Department of Veterans Affairs.  Standards of Progress requirements for recipients of Veterans educational benefits follow the University’s “Academic Probation and Dismissal Policy” as stated. If a student fails to meet these standards, the University’s VA Certifying Official must notify the U.S. Department of Veterans Affairs and the student’s benefits will be terminated for unsatisfactory progress.

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Michigan Educational Trust (MET)

MET allows parents, grandparents, businesses, and others to pre-purchase undergraduate tuition for a child residing in Michigan at any Michigan public university or college, including 28 public community colleges.  Under the contract, MET will guarantee payment of tuition and mandatory fees without further charge. MET guarantees in-state tuition at public four-year colleges and universities in Michigan or in-district tuition at public community colleges in Michigan.

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