Financial Aid

/Financial Aid
Financial Aid 2012-05-28T13:40:30+00:00

If students wish to apply for all types of Financial Aid administered by the Office of Financial Aid, they must:

  • Complete the Free Application for Federal Student Aid (FAFSA) which is available on-line at www.fafsa.ed.gov. This on-line application must be submitted each year. The processing deadline is November 1 each year. List Lincoln College as the first college choice. Lincoln College’s school code is 001709.
  • Students who have previously applied for Financial Aid are considered to be Continuing Students and must have their Financial Aid application processed by November 1 each year in order to be considered for an Illinois State Monetary Award.
  • Students should forward the completed FAFSA and a copy of their and their parents’ pre­vious year’s tax returns to the Office of Financial Aid as soon after October 1 as possible. The FAFSA will be submitted electronically with results returning in three to five working days. However, if students mail the FAFSA to the federal processor, they will receive a Student Aid Report in the mail within four to six weeks.

Determination of Financial Aid

Federal and State Aid is based on need and is determined as follows:

Cost of Education (College Budget) – Parent/Student Contribution (EFC) = Student’s Unmet Need

Unmet need can be met with grants, scholarships, loans, and employment, if funds are available. The Parent/Student Contribution can be met with unsubsidized Federal Family Education Loans and/or Parent Loans.

 Student Aid Report (SAR)

  1. No scholarships or grants will be awarded until the financial aid office receives notifica­tion of a processed Student Aid Report (SAR).
  2. All financial aid (including Lincoln College scholarships, Illinois State Monetary Award, Federal Pell Grant, Federal Direct Loans, and Federal Work-Study) is determined from the Student Aid Report.
  3. Once Lincoln College receives notification that the Financial Aid application has been processed (and all other requested documents have been received), students will be sent a Final Financial Aid Award Letter showing the financial aid they are eligible to receive.

Credit/Refund Policy

Students who officially withdraw or are dismissed from the College shall be entitled to a credit/refund of net tuition, room, board, and mandatory fees. Net tuition is defined as gross tuition less Lincoln College scholarship aid. An administrative charge of $25 will be applied to the credit/refund calculations.

The following Fall and Spring semester credit/refund rates apply to students who officially withdraw or are dismissed from the College.

Official Withdrawal/Dismissal Occurs Credit/Refund Rate
Prior to first day of classes 100%
During first week of classes 90%
During second week of classes 85%
During third week of classes 80%
During fourth week of classes 70%
During fifth week of classes 65%
During sixth week of classes 60%
During seventh week of classes 55%
During eighth week of classes 50%
During ninth week of classes 40%
During tenth week of classes No credit/refund

Credit/refund rates for students enrolled in summer terms are similar to those listed above but apply to the number of days enrolled rather than the number of weeks.

Reduction in Hours

Student aid eligibility is based on the number of credit hours enrolled on census day. Students who change from full- to part-time status or part-time students who reduce the number of credit hours carried may receive a reduction of net tuition according to the following schedule:

  1. If the reduction is on or before the census day, all net tuition not applicable to the new part-time status is reduced.
  2. If the reduction is after the census day but no later than the end of the fifth week of classes, twenty-five percent of the difference in net tuition charge only is reduced.

Return of Title IV Funds

Students receiving Title IV funds earn aid based on the period of time the students remain enrolled. During the first 60% of the semester, a student will receive only the amounts of Title IV funds that have been earned in direct proportion to the length of time the student remains enrolled. A student who remains enrolled beyond the 60% point earns all aid for the semester. Earned financial aid is based on the percentage of days that the student remained enrolled versus the total number of days in the entire semester. The Financial Aid Office must determine the amount of unearned Title IV aid and return those funds to the appropriate federal programs. The student is then responsible for returning the unearned aid received, if any, to the College.

Federally Legislated Consumer Information is available upon request through the Office of the Vice President for Enrollment Management and Student Services.

“Lincoln College does not discriminate on the basis of race, color, creed, religion, na­tional origin, handicap, age, sex, sexual orientation or status in any group protected by federal, state or local law in admission to and participation in its educational pro­grams, College activities and services, or its employment practices. The College does not tolerate sexual harassment by or of its students or employees. It is the College’s intent to comply with all equal opportunity regulations including, but not limited to, Title IX of the 1972 Educational Amendments and Section 504 of the Rehabilitation Act of 1973. Inquiries may be directed to Office of the President, Lincoln College, 300 Keokuk Street, Lincoln, Illinois 62656. Telephone: (217) 732-3155, ext. 200.

Satisfactory Academic Progress (SAP) Policy

Federal regulations require that institutions monitor the academic progress of recipients of federal and state aid. Schools are required to withhold funds from students who do not make satisfac­tory and measurable progress toward their educational goal. Lincoln College students receiving Title IV (Pell Grant, SEOG Grant, Federal College Work-Study and all federal loans) and state funds (MAP Grant) must meet the satisfactory progress guidelines listed below. Students who do not meet ALL of the following standards will lose their financial aid eligibility. Satisfactory Academic Progress (SAP) will be measured at the end of each Spring semester. Students who fail to meet the minimum progress requirements will be placed on financial aid suspension.

A. Minimum Grade Point Average (GPA) for classes taken at Lincoln College – A student is determined to be making SAP when the student meets the minimum cumulative grade point average for their cumulative hours attempted:

Cumulative Hours Attempted Minimum Cumulative Grade Point Average
01-16 1.70
17-32 1.85
33-48 1.95
49+ 2.00

B. Minimum Hours Earned – A student must earn a minimum number of credit hours each year in order to graduate within a specified time frame. Withdrawing from Lincoln College or repeatedly dropping courses may affect student ability to maintain academic progress and could jeopardize financial aid eligibility. Students are required to pass at least 67% of all credit hours attempted (including transfer, withdrawal, incompletes, failed, and repeated hours).

C. Maximum Time Frame – Students are allowed a maximum of 150% of a program’s length in order to complete a degree. For example, a student enrolled in the Associate of Arts (AA) degree program may attempt a maximum of 91 credit hours (60 X 150% = 90) towards the degree’s 60 credit hour requirement. Included in the number of credit hours attempted are: transfer hours (accepted from another institution), withdrawals, incompletes, repeated courses, and grades of “F”.

SAP Appeal Procedure

Download visual instructions.

A student whose financial aid eligibility has been suspended may appeal through the e-verification site. The process has changed from previous years in which the student will not be required to submit paper documents to the Director of Financial Aid. The financial aid SAP appeal is separate from the Appeal for Academic Suspension, if the student is in violation of both two separate appeals will need to be completed. As a reminder the two decisions are not connected, a student can be approved for Academic Standing and be denied for SAP or vice versa.

In order to complete SAP appeals please follow the steps below:

Step 1:

Determine the semesters you need to discuss in your appeal, which are the semesters in which you failed to meet minimum academic standards. We call these your “semester(s) in question.” In order to identify the semesters in question, we recommend that you contact the Financial Aid Office, or a member of the Professional Advising Staff here at Lincoln College.

Step 2:

Determine whether you have mitigating circumstance(s) (unforeseen situations or events beyond your control that directly impacted your academic performance) for each semester in question. If the above mentioned scenarios do not apply to you we offer another alternative. We require you the student to take and pass with C’s or higher six credits of transferrable hours into your current program at Lincoln College. These courses must be taken at an outside intuition. It is the students’ responsibility to check with their advisor and or registrar if the courses they plan to take will transfer into our program here at Lincoln College.

Note: In most cases, you cannot use the same mitigating circumstance over multiple semesters. The expectation is that when unforeseen circumstances arise, you will take action to resolve them before returning for another semester.

Step 3:

Gather valid documentation, which supports your mitigating circumstance(s). When you appeal online, you will need to upload documentation relevant to each semester in question. Please review our mitigating circumstances guide to see examples of documentation, which must come from an objective third-party on official letterhead.

Step 4:

Appeal online by logging into the e-verification site if you do not have an account you will need to click create an account prior to getting started.

Note: If we do not have a FAFSA on file for the year in which you are trying to obtain Financial Aid for the system will not allow you to create an account.

Step 5:

Monitor your Lincoln College student e-mail account, and your postal mail for communications in regard to your SAP appeal status. In addition be on the lookout for additional communication from the Office of Professional Advising regarding some important next steps.