VI.C.1. Financial Aid
VI.C.1.01 Policy
Financial aid removes financial barriers preventing access to educational opportunities. The College participates in programs providing aid through grants, scholarships, work-study, and loans. Financial aid policies provide uniform, efficient guidelines for the College’s financial aid offices in getting information, giving awards, and governing programs. This policy supplements the College’s compliance with federal and state statutes and regulations.
VI.C.1.02 Standards
(a) Financial Aid Application. Students applying for financial aid, other than scholarships, must first complete a Free Application for Federal Student Aid (FAFSA) form. The information submitted in the application may be verified. Scholarship applicants must submit scholarship applications by published deadlines. Scholarship donors determine scholarship eligibility criteria.
(b) Disbursement of Financial Aid Funds. Financial aid awards other than work-study awards are credited to the student’s account and pay tuition, fees, and books. Any balances are refunded to the student. The College’s work-study funds are distributed through its payroll system.
(c) Repayment of Title IV Funds. Students receiving Title IV funds, who withdraw from a course before the 60 percent point of completion, must return the unearned portion of the Title IV funds.
(d) Financial Aid Probation and Suspension. Students must meet certain academic progress standards to remain eligible for the College’s financial aid programs. Students who do not make satisfactory academic progress will be placed on financial aid warning, probation, or suspension.
VI.C.1.03 Appealing a Financial Aid Suspension
A student placed on financial aid suspension who wants to appeal the suspension shall complete and submit an appeal form to the appropriate College official.
The College must provide the student with a written decision regarding the student’s appeal and provide any remaining appeals remaining available.
VI.C.1.04 Title IV Fraud
Any person who embezzles, misapplies, steals, or obtains funds by intentional misrepresentation, false statement, or forgery, commits fraud. A person who does not refund any owed funds, assets, or property received under Title IV commits theft and conversion. A person committing fraud can be penalized and fined under federal law. A person committing theft and conversion can be penalized, fined, and sued under Texas law.
The College shall refer Title IV fraud to the U.S. Department of Education by forwarding the investigative report to the agency and supporting documents. College administrators shall determine whether to refer the case to the U.S. Attorney General. The College’s General Counsel shall be responsible for making any such referral.
LSCS Policy Manual Section VI adopted by the Board of Trustees on March 3, 2016