Financial Aid

This applies to students receiving federal and state financial aid including loans and scholarships, and institutional and private aid who withdraw from 100% of their courses at the University.

• First, your account will be credited according to Lake Superior State University’s Refund Policy (on or prior to the 38-day withdrawal period). The summer semester refund policy is shortened.
• Then, your financial aid will be reduced in direct proportion to the length of time you remained enrolled, up to 60 percent of the semester.
• PLEASE NOTE: If you have received a payment for excess financial aid and you withdraw, you could owe the University and/or the federal government money.
• If there is still a credit on your account, the amount of the credit will then be applied to the remaining financial aid funds until the credit has been reduced to zero.
• Any remaining refund due you, after all funding sources have received the appropriate credit, will be refunded directly to you.

For example: If there are 101 days in the semester and you withdraw on the 45th day, your federal aid would be reduced to 45% (45/101). If your total cost to attend was $4,000 and it was paid with federal aid of $2,400 and a personal payment of $1,600, your federal aid would be reduced to $1,080. You could owe the University $1,320.

Your withdrawal from Lake Superior State University may cause the following changes affecting your student aid:

1. Your institutional aid will be reduced in proportion to your refund of tuition.
   For example, if you received an LSSU award of $1,000 for a semester and withdrew at the 50% refund point, your LSSU award would be reduced to $500 proportionately.
2. Your federal aid will be reduced according to the Federal Return of Title IV refund policy. Aid will be returned to the federal government on your behalf for the portion of time you are not attending classes in the semester.
   For example, if you took out a student loan for $5000 and attended 30% of the semester, 70% of the loan will be returned against your student loan. You will owe LSSU directly for any balance due on your student account once the loan is returned.
3. Your state or private aid will be returned to the source, based on the individual rules for each type of aid. If you have received an alternative loan, you are responsible for any amount that has already disbursed into your account. Further disbursements will be canceled when you withdraw.

Regional Center Consortium Students

The above policy is also applicable to the regional center students.

If you are dually enrolled for financial aid purposes (a consortium form has been completed for the semester), you must drop all of your classes at both schools to qualify for a 100% withdrawal refund. You must also begin attendance in all of your classes at LSSU and at your regional community college to qualify for the aid.

Attendance Policy for Federal Financial Aid Recipients

Regular class attendance is required for students receiving federal financial aid. If you are reported for non-attendance in any or all of your courses, your financial aid may be withdrawn.

If you fail to demonstrate attendance by earning credits for a semester while receiving federal aid, your aid may be returned and you may owe unearned funds back to the University.

If you receive all F grades for any semester, it may be assumed that you have attended only 50 percent of your classes and your federal financial aid will be reduced by 50 percent. You will also need to demonstrate attendance in your classes before future aid can be released. To demonstrate your attendance for the next semester that you otherwise qualify for federal aid, each instructor will need to sign a statement verifying your attendance in each class and return the signed form to the Financial Aid Office.

Click here for Proof of Attendance Form.

Leaving school: For information about leaving the University see Withdrawal. Non-attendance of classes or checking out of campus housing does not constitute withdrawal, nor does academic dismissal. Students who leave but do not withdraw are responsible for full tuition and fees and will receive failing grades on their transcript unless an official Withdrawal Request Form is filed with the Registrar’s Office.

Transcript fee: One official transcript is provided to all students, either before or after graduation. There is a $5 fee for each additional transcript.

Delinquent account: Students with delinquent accounts may be removed from class, have their diploma withheld, and/or have transcript requests denied.

Click here for more information on LSSU Withdrawal Policy.

Sample Return of Title IV Funds Calculation

All Title IV aid will be included in the calculations outlined below. The following steps will be followed when determining the amount of Title IV aid to be returned upon withdrawal:

1. Determine percentage of enrollment period completed by student. Divide the number of days attended by the number of days in the enrollment period. If the calculated percentage exceeds 60%, then the student has earned all Title IV aid for the enrollment period.
2. Calculate the amount of earned Title IV aid. Multiply the percentage of the enrollment period completed by the total Title IV aid disbursed (or could have been disbursed as defined by late disbursement rules).
3. Determine amount of unearned aid to be returned to Title IV aid program accounts. Subtract the amount of earned federal aid from the total amount of federal aid disbursed. The difference must be returned to the appropriate Title IV aid program(s).
4. Return of Title IV funds by institution and student:
   • LSSU will return all unearned Title IV aid.
   • The student will be responsible for any balance this return creates with LSSU.
5. Unearned Title IV Funds will be returned to federal programs in the following order:
   • Unsubsidized Federal Direct Loans
   • Subsidized Federal Direct Loans
   • Federal Perkins Loans
   • Federal Parent PLUS Loan
   • Federal Pell Grants
   • Federal Supplemental Educational Opportunity
   • Federal Teach Grants
   • Iraq and Afghanistan Grant

Example of Title IV return of funds calculation for a Title IV recipient who is considered to have withdrawn:

Title IV Return of Funds:
Institutional Charges: $5,000
Title IV Loans: $2,000
Title IV Grants: $1,000
Total Title IV Aid: $3,000

Student withdrew on 35th day of a 110 day enrollment period.
Percent Earned 35/110 = 32%
Percent Unearned 100% – 32% = 68%
Amount of Title IV aid unearned $3,000 x 68% = $2,040

LSSU is responsible for returning unearned Title IV aid ($2,040 from above) and will return aid as follows:

• Title IV Loans $2,000 (students remaining loan debt = 0)
• Title IV Grants $40

The student is responsible for paying any LSSU bill resulting from this return.
The example shown above does not reflect every student refund situation that may exist.

Questions regarding the return of Title IV Funds Policy should be addressed to the Financial Aid Office at .

The University reserves the right to amend the Title IV Return of Funds Policy at any time in order to comply with federal regulations.

The census date marks the end of 100% add/drop enrollment period when enrollment is frozen or locked for federal, state, and institutional purposes. It’s really important to register for all of your courses by the census date because classes added or dropped after this date won’t change your federal, state, or institutional aid eligibility. If you add classes after the census date, your aid will not be adjusted to reflect additional classes.

2021-22 Census Dates

• Fall 2021:  Monday, August 30, 2021
• Spring 2022: Tuesday, January 25, 2022
• Summer 2022: Monday, May 16, 2022

Financial aid affected by the census date rules includes (but is not limited to) University Grants and Scholarships, Federal Pell Grant, Federal Supplemental Education Opportunity Grant (SEOG), Teach Grant and Michigan Tuition Incentive Program, Michigan Competitive Scholarship.

Fall and spring and summer financial aid for undergraduates is based on full-time enrollment of 12 or more credits for scholarships and university grants.  For part-time students, many other forms of aid are prorated.  Federal Student Loans require 6 or more credits each semester.  Aid is awarded based on full-time attendance and adjusted to actual enrollment on the Census Date each semester.

Full-time Enrollment = 12 or more credits per semester
3/4 Time Enrollment = 9, 10 or 11 credits per semester
1/2 Time Enrollment = 6, 7 or 8 credits per semester

If you decide to drop all of your classes, you must complete each step to officially withdraw from the University.

1. Pick up a Withdrawal Form at the Registrar’s Office located in the Fletcher Center for Student Services.
2. Gather the required signatures. Note: if you have received federal loans as financial aid, you will be required to complete an Exit Counseling at the Financial Aid Office. You may also be required to speak with a financial aid officer. You will need to provide the complete addresses and phone numbers of three people (living at different addresses), as references for the exit counseling process.  Federal aid recipients, see the Return To Title IV Policy for more information.
3. Deliver the completed form to the Registrar’s Office and clear any outstanding charges or holds that may prevent your return at a later date or prevent the release of your academic records. Your withdrawal date will be determined by the date the completed form is submitted to the Registrar’s Office. Any refunds will be calculated as of that date.

All withdrawals should be done in person. If you are unable to complete the process in person, the Registrar is the only University authority that can authorize the process of your withdrawal over the phone. Please contact the Registrar at 906-635-2682.

After your completed Withdrawal Form is accepted, your University charges will be reduced according to the withdrawal and refund policy. If you have not received any form of financial aid and there is a credit balance on your account, you will be sent a refund check. If you have received aid, your aid may have to be returned to the appropriate source. You may owe money!

There are NO refunds for partial drops after the 6th school day of the fall or spring semester or the 4th school day of summer semester.

If a student begins to attend class, receives federal Title IV aid, but then ceases to attend class without providing official notification to the University or if they earn 0 credit hours in a semester, the Federal Government considers this an “unofficial withdrawal.” For Title IV purposes, the withdrawal date for students who unofficially withdraw is considered to be the midpoint of the semester unless a documented last date of attendance can be determined. However, if the University determines that a student did not provide official notice of the intent to withdraw due to illness, accident, grievous personal loss or other circumstances beyond the student’s control, the University may use a date that is related to that circumstance. The refund rules for Title IV aid recipients who withdraw are then followed to determine the unearned portion of Title IV aid that must be returned to the appropriate aid program(s).

If a student is enrolled in a standard, term-based program offered in modules and ceases attendance at any point prior to completing the payment period or period of enrollment, unless the school obtains written confirmation from the student at the time of the withdrawal that he or she will attend a module that begins later in the same payment period or period of enrollment, the student is considered a modular withdrawal for Title IV purposes. If written confirmation of future attendance is received from the student but the student does not return as scheduled, the student is considered to have withdrawn from the payment period or period of enrollment and the student’s withdrawal date and the total number of calendar days in the payment period or period of enrollment would be the withdrawal date and total number of calendar days that would have applied if the student had not provided written confirmation of future attendance.

When a student is considered to have withdrawn, as described above, during an enrollment period in which they have begun attendance and received federal Title IV financial aid, Lake Superior State University is required to determine the amount of earned and unearned Title IV aid. A student is only eligible to retain the percentage of Title IV aid disbursed that is equal to the percentage of the enrollment period that was completed by the student. The unearned Title IV aid must then be returned to the appropriate federal aid program(s) within 45 days of the determination that the student withdrew. If more than 60% of the enrollment period has been completed by the student, no Title IV aid needs to be returned.

The Financial Aid Office will notify students if additional federal funds can be disbursed. This is called a post-withdrawal disbursement. Federal grants will automatically be applied towards the students account within 45 days of determining that the student withdrew. Federal Direct Loans must be accepted within 14 days of the notice; otherwise loan funds will be cancelled. Students who are serving active duty or qualifying National Guard Service, or reside or work in a declared disaster area may have additional time to respond. Please contact the Registrar’s Office at LSSU, VA Certifying Official. If the Federal Direct Loan post-withdrawal disbursement offer is accepted by the deadline, LSSU will make the disbursement within 180 days of determining that the student withdrew.

Important Links for Students Withdrawing with Federal Loans

• Exit Counseling (online process)
• NSLDS National Student Loan Data System (to view your loan history)