Financial Aid Office
Available Financial Aid
Federal Financial Aid
All students filing the FAFSA are automatically reviewed for Pell Grant eligibility. Pell Grants amounts vary according to the year and the number of credits taken each semester. The maximum amount that you may qualify for the 2012-2013 academic year is $5,550 if your EFC is zero. To qualify, your Expected Family Contribution (EFC) as determined by the FAFSA must be less than $5,274. Although awards are made through the University, the U.S. Department of Education determines your eligibility when you file the FAFSA. Pell Grants do not have to be repaid.
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-$5,550 for 2012-13).
To be eligible for a Pell Grant,
- be determined to have financial
- be undergraduates accepted
for admission and enrolled in eligible programs and meet satisfactory progress standards.
- be U.S. citizens or permanent residents or qualified Jay Treaty
- not be in default on a Direct Stafford or Perkins Loan, and not owe a refund for a Pell
Grant or other federal aid.
- not be disqualified due to prior
drug offense convictions.
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.gov.
Supplemental Educational Opportunity Grant (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
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 progress
standards to be considered for a
Work Study (Priority aid)
College Work-Study is a job for undergraduate students with financial need, allowing them to earn money to help pay educational expenses. The federal and state governments provide limited funds for the program.
The average Work-Study award is $1,500 per academic year or $750 per semester. A student should work approximately 6 hours per week to earn this amount over the two-semester academic year.
Your Work-Study pay rate will be at least the current state minimum wage, but may be higher, depending on the type of work you do and the skills required. You will be paid by the hour, every other week.
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
more than 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.
Applicants for all work study jobs view and submit job applications through the automated work study employment system. More information and instructions are provided to eligible students at the time of aid determination.
Bureau of Indian Affairs Scholarship Grant
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. The average award is $800 per year. All applicants
must complete a Free Application
for Federal Student Aid
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.
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
Students may borrow up to $1,000
for each year of undergraduate
study. The maximum debt 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
Deferment of payment is available if:
1. you are enrolled and attending
as at least a half time student
at an institution of higher
2. for any period not to exceed
three (3) years, you are
A. unable to find full-time employment.
B. experiencing economic hardship.
C. active in certain military service.
Cancellation: Loans may be cancelled for:
- certain types of teaching,
- full-time qualified provider of early intervention services for the disabled,
- full-time nurse or medical technician,
- full-time law enforcement or corrections officer, firefighter
- death or disability of the student,
- full-time staff of Head Start Educational Program,
- full-time provider of services to high-risk children at a child or family service agency.
- certain military service
- public defender
- certain speech pathologists
- certain librarians
- faculty member at a tribal college or university
- volunteer service
the Perkins Master Promissory Note, Statement of Rights & Responsibility, and the entrance interview form by clicking here.
Federal Nursing Loan
The Nursing Education Loan
Program provides loans of up
to $5000 a year for bachelor’s
degree or completion nursing
programs. Eligibility requirements
include United States citizenship,
enrollment of at least half time and
demonstrated financial need.
Attn: Nursing Students
Apply for payment assistance annually, with the Department of Health and Human Services by clicking here.
Federal Direct Subsidized and Unsubsidized Student Loans
Qualified applicants must be a
United States citizen or eligible
alien. Students must attend at least 1/2 time and be fully admitted into a degree-seeking program. 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. The student loan program is administered through the Financial
Aid Office under the Direct Loan
Program. Students must file the FAFSA to be considered for these loans.
These loans fall into two separate categories: need-based (subsidized loan), and non-need-based (unsubsidized loan). The federal
government does not charge interest on subsidized (need-based) loans while the student is attending school at least half
time, during the six-month grace
period, and during deferments
(postponements of repayments).
Financial need must be demonstrated (via the FAFSA) to
receive this type of loan.
For students without financial need, the unsubsidized loan is available. The
federal government does charge interest on these loans as soon as the funds are disbursed. Therefore interest accrues while attending school, during the grace period, and during deferment.
A loan fee is charged
on both types of loan , under federal law.
The loans are disbursed in two equal
disbursements (one-half in the fall
semester; one-half in the spring
Once enrolled at Lake Superior State University, students must meet the
satisfactory progress standards to be
eligible for additional loans.
Repayment begins six months after
graduation or the date the student
attends school less than half time. Interest rates are set each July 1, for
the following academic year.
All students may be eligible for Federal aid. LSSU recommends that students borrow their maximum eligibility in Federal loans before applying for alternative loans (private education loans) because Federal loans generally have better terms, conditions and borrower benefits than alternative loans. File a FAFSA annually, at www.fafsa.gov to apply for federal financial aid including federal loans.
Click here for sample disclosure statements and borrower rights: dlplain, dlrights, subunsubds
Federal Direct Parent PLUS Loan
Parent PLUS borrowers have the option of beginning repayment on the PLUS loan either 60 days after the loan is fully disbursed or not until six months after the dependent student on whose behalf the parent borrowed, ceases to be enrolled at least a half time basis. Accruing interest can either be paid by the parent borrower monthly or quarterly, or be capitalized at repayment.
Parent borrowers can call their loan servicer to request an in-school deferment for their dependent child, or select this during the on-line application process. Parents can often download a Parent PLUS deferment form from their servicer's website and submit it. Parents are informed who their servicer is by correspondence from the servicer when the loan is initially made. The deferment option is only for PLUS loans that are first disbursed on or after July 1, 2008. Parents should wait until the first half of the loan is disbursed in September to make this call or submit the downloaded form.
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 2011-12 and the 2012-13 fixed interest rate
Students must meet the satisfactory
progress standards to be eligible and
must file a Free Application for Federal
Student Aid each year to obtain
a Federal Direct PLUS loan.
An origination fee is deducted from
each of two disbursements made in
a school year.
Interest rates are set each July 1 for
the following academic year.
All students may be eligible for Federal aid. LSSU recommends that students borrow their maximum eligibility in Federal loans before applying for alternative loans (private education loans) because Federal loans generally have better terms, conditions and borrower benefits than alternative loans. File a FAFSA at www.fafsa.gov to apply for federal financial aid including federal loans.
Click here for sample disclosure statements and borrower rights: plusds, plusplain, plusrights
Michigan Financial Aid
Tuition Incentive Program
The TIP Program pays tuition and
fees for students of lower-income
families. Eligible students must be
Michigan residents; be graduates
from high school or have obtained
a GED after May 1, 1988 but before
reaching age 20; be accepted for
admission into an associate’s
degree program; and accept TIP by
submitting certification while in
high school. Acceptance must be
filed before high school graduation.
For more information visit the TIP web site at http://www.michigan.gov/
Michigan Competitive Scholarship
These State scholarships range from
$100 to $1,300 at Lake Superior State
University. Applicants must:
- have been continuous residents
of Michigan for a 12-month period before July 1 of the award year.
- be a Michigan high school graduate.
- attain qualifying American College Test (ACT) sum score of 90 or higher.
- file FAFSA by March 1st and demonstrate financial need.
Good academic standing with at
least a 2.00 grade point average
and meeting satisfactory progress
requirements is required to renew
a scholarship. High school seniors
must take the ACT by December of
their senior year.
For more information visit the Michigan Competitive web site at
- 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 will begin 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).
- Eligible children 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.
- Student must be enrolled at least ½ time in a program of study leading to a degree or certificate.
- Student must be an undergraduate.
- Student must be a Michigan resident.
- Student must demonstrate financial need.
For more detailed information and application forms, contact the Office of Scholarships and Grants at: osg@Michigan.gov or call toll-free 1-888-4-GRANTS (1-888-447-2687).
Institutional (LSSU) Aid
- Michigan Incoming Freshman
- Ontario Incoming Freshman
- Transfer Students
- Out of State and Foreign Incoming Freshman
- Current Students
- Departmental Scholarships
- Additional Scholarships
Learn more about our scholarships by clicking here
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.
Recipients must be Michigan residents
and enrolled full time in Lake
Superior State University classes.
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, will be 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 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.)
Member of a Federally recognized Tribe (certified by Tribal Enrollment Dept.)
Resident of Michigan for 12 consecutive months (certified by LSSU)
Michigan Indian Tuition Waiver Application
Michigan Indian Tuition Waiver Frequently Asked Questions
Other Aid Sources
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 7.9% 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.
Canada Student Loans (OSAP)
Canadian students who need
financial help to earn a degree at Lake Superior
State University may apply for
aid through the Ontario Student
To qualify for a loan, the student
- be a Canadian citizen or have
landed immigrant status;
- be a resident of a province that participates in the plan;
- have attained a satisfactory scholastic standard;
- be enrolled, or qualified to
enroll in a post-secondary course of studies;
- be taking at least 60 percent
course load (eight credits);
- complete an application for OSAP at osap.gov.on.ca;
- 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 and more information are available online
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.
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's nothing to repay if the student doesn’t 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.
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
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
Michigan Educational Trust
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.