Disbursement of Aid
How you will receive aid
Some financial aid awards are posted to student accounts not more than 10 days prior to the start of each semester.
Refunds of excess financial aid
When financial aid and other payments exceed your charges you are entitled to a refund. Student Accounting will refund excess financial aid to student, parent or other payment source within 14 days of a credit balance. A check will be mailed to the current mailing address on file or the student borrower can elect a direct deposit.
Cancellation of loan
Federal Stafford loan, Federal PLUS loan and Federal Perkins loan borrowers have the right to cancel their loan disbursements within 14 days of the disbursement notice. Should you decide to cancel the disbursement of your federal loan, you should contact the One Stop Center at Enrollmentservices@ltu.edu in writing within the specified time period. By canceling the disbursement, you will be responsible for any unpaid tuition and fees, as well as repayment of loan funds already paid to you.
Enrollment Status - aid eligibility
All initial awards are based on full-time status. Grant awards will be pro-rated down for enrollment of less than full-time and student loan eligibility will be reevaluated and may change due to changes in enrollment status. You must be enrolled in an eligible degree program and most funds require at least half-time (Undergrad >= 6 credit hours, Grad >= 3 credit hours) enrollment status. Your award(s) are subject to change due to changes in enrollment status and/or funding levels at any time.
Adjustments to charges
Within certain time limits, tuition adjustments may be made to the students’ financial account. Be aware that there are times when students receive no tuition credit/refund for dropped courses. See the Tuition and Fees section of the Catalog or online at TUITION AND FEES. It is the student’s responsibility to know these dates and adhere to them.
Always check with the One Stop Center for advice on the impact any change will/or could have on your financial aid
Withdrawal from Lawrence Tech
You may be billed for a portion or all of your charges if you withdraw from the university. The bill calculated as a result of withdrawal will depend on the effective date of withdraws, the percentage and amount of institutional refund and/or the last date of class attendance.
If a student receiving Title IV funds completely withdraws from classes through 60% of the term, the university is required to determine how much of the financial aid was earned up to the time of withdrawal. The University and/or the student must return unearned Title IV funds to the federal government. This situation could result in the student owing aid funds to the University, the government or both.
Always check with the One Stop Center prior to withdrawal for advice on the impact it will/or could have on your financial aid.