Financial Aid Timeline for New Students

ANY TIME OF YEAR

  • Contact the Office of Financial Aid Office at 440.375.7100 or finaid@lec.edu to request information or to answer any financial aid questions you might have.

IN THE FALL

  • Obtain a FSA ID from the U.S. Department of Education at  https://fsaid.ed.gov.  You will use your FSA ID to access and sign your FAFSA (Free Application for Federal Student Aid) application.  Have your parents obtain their own FSA ID, too. 

BEGINNING OCTOBER 1 - APPLY for FAFSA

  • The FAFSA (www.fafsa.ed.gov) for the 2017-2018 academic year is scheduled to be available in October 2016. The FAFSA is the application for federal and state aid.  This FAFSA application will use 2015 income information.  Lake Erie College federal school code is 003066. After completing your FAFSA, you will receive a Student Aid Report.  You can access this report on the FAFSA website using your FSA ID.  Be sure to review this report for notification of errors you may have made on your application. 

BEGINNING DECEMBER 15

  • You will receive an award letter and package of information from the Office of Financial Aid either by mail or email (online) once you are accepted to Lake Erie College and we have received your processed FAFSA. The award letter will contain the financial aid awards for which you are eligible based upon your FAFSA information.
  • If you receive self-help aid, you will be required to complete additional steps. Self-help aid includes loans and college work study. Detailed instructions will be included with your package.
     
  • Determine your out-of-pocket expenses. Your admission counselor will assist you with this.
     
  • Investigate payment options:
    • Time-payment plan (Enroll in April for a 12-month plan or June for a 10-month plan. Contact the Bursar's Office for details: bursar@lec.edu
    • Parent Loan for Undergraduate Student (PLUS)
    • Private educational loans: Signature Loan

BEGINNING MAY 1

  • We ask that you accept or decline your financial aid award by May 1 by signing your award letter (or responding accordingly to the online award letter) and returning it to the Office of Financial Aid.

IN JUNE & JULY

  • Complete your Federal Direct Loan Master Promissory Note online. You will also need to complete a Loan Entrance Interview as part of that process.

BEGINNING AUGUST 1

  • Account balances are due by August 1 for the Fall semester.