Financial Aid

Financial assistance at Lakeview College of Nursing is available in the form of scholarships, grants, and loans.  Additional information and counseling may be obtained from the Financial Aid Office located on the second floor, room 202, of the Danville Campus Building.  Office hours are 8 am to 4 pm Monday through Friday.

Using Financial Aid to Pay for Classes

Students whose financial aid paperwork has been received and processed by the Financial Aid Department will be notified of awarded gift aid and Federal Direct loan processing instructions via their LCN student email.  Students with a credit balance due to their processed financial aid will receive a book voucher via their LCN student email to be used at the Follett Bookstore at Danville Area Community College (Danville students) or the Eastern Illinois University Union Bookstore (Charleston students).  Voucher usage has a limited time frame noted on the form.

Financial aid is always subject to change without prior notice if changes occur in your enrollment status, class attendance, personal circumstances, or in Federal or State deadlines.  You are responsible for all college bills not covered by your financial aid.  All charges that you incur during a semester that are not covered by financial aid must be paid before you will be able to register for the next semester.  If you have questions related to paying college costs with your financial aid, please contact the financial aid office.

Important Notice/Deadlines

October 1st of Each year	Federal/State Application Opens
Mid-Term, Each Semester	Direct Loan Requests Due
June 1 (for Fall Semester)	Lakeview Scholarship Application Due
November 1 (for Spring Semester)	Lakeview Scholarship Application Due
March 1 (for Summer Semester)	Lakeview Scholarship Application Due

Federal Deadlines: The new award year application is available October 1 and will require income information from two years before the academic year for which aid is intended.

State Deadlines: The State of Illinois sets a deadline for the Monetary Award Program each award year. There is not a separate application for the MAP grant. The required information is entered on the FAFSA.

We encourage students to complete the Free Application for Federal Student Aid (FAFSA) as early as possible each award year.

Institutional Deadlines:

• Scholarships – The deadlines for LCN scholarships are June 1 for fall semester, November 1 for spring semester and March 1 for summer semester. [Note: One scholarship application is required to be on file for the duration of enrollment, however, completion of FAFSA is required for each award year.]
• Federal Direct Loan Processing – The last date you can request a Federal Direct loan for a semester is no later than the mid-term date of each semester.
• Verification Deadlines – The Student Aid file must be completed, verified as accurate (and corrected if applicable) no later than the last date of the semester for which student aid is to be applied.

How to Apply for Financial Aid

To be awarded Federal and/or Illinois State student financial aid to attend Lakeview, a student will need to be accepted and enrolled as a degree seeking student.

Step 1 - Complete the FAFSA

Complete the Federal student aid application called the Free Application for Federal Student Aid (FAFSA) via the Internet at https://studentaid.ed.gov/sa/fafsa.  Lakeview's school code is #010501.

Students admitted for the Spring semester must add Lakeview's school code to the Student Aid Report via the Internet. Please contact the LCN Financial Aid Office to discuss what awards may be available, and the amounts since eligibility for some programs can change from one College to another. It is crucial to cancel any pending aid at the school a student is transferring from so LCN can proceed with their aid.

The result of the FAFSA is the Student Aid Report (SAR). Students will have the opportunity to print and/or review their SAR via the Internet site. Lakeview receives an electronic version of this report. The SAR will be used to determine which programs students qualify for and how much aid students will receive. The LCN Financial Aid Office will let students know what additional documents are needed to submit to the office to complete the Verification Process (Step 2).

A student must be enrolled in the minimum number of hours required by the financial aid program.

Independent/Dependent Status

Applicants answers to certain questions will determine whether they are considered on the Free Application for Federal Student Aid (FAFSA) to be "dependent" (still part of a parent's family unit) or whether they are "independent" (have formed their own family unit). Students are classified according to family unit because federal student aid programs are based on the idea that students, and their parents or spouses (if applicable), have the primary responsibility for paying for their post-secondary education. To be considered "independent," at least one of the following must apply to the student:

• turns 24 before January 1 of the academic year for which aid is sought

• is a veteran of the U.S. Armed Forces

• is an orphan or ward of the court until age 18

• is married/has children (for whom they provide over 50% of support)

• meets and documents any other status questions on FAFSA as a "Yes"

Documentation may be requested from students who meet Independent Status due to answering "Yes" to one or more of the FAFSA questions.  If you have questions of any kind related to your eligibility for financial aid please telephone or e-mail the Financial Aid office.

Financial Need

Student aid will only be awarded based on LCN credit hours. When packaging awards no “concurrent” enrollment with another school will be considered. Most federal and state financial aid is awarded on the basis of demonstrated financial need. The formula used to determine who has need and who does not is:

• Student Budget - Expected Family Contribution = Financial Need.

Student Budget is the cost of attending college (tuition, fees, transportation, books, supplies, etc.).
Expected Family Contribution is taken from the student's Student Aid Report (SAR).
Financial Need is the maximum dollar amount of aid from the various sources for which the student is eligible.

You may not receive financial assistance up to the maximum dollar amount for which you may be eligible, and your total financial aid package may not meet your Cost of Attendance.

The various sources of aid have maximum award amounts and may be further affected by limitations in the availability of funds. Loans may be available if grant aid is insufficient. Please inquire at the financial aid office if you need additional funding.

Cost of Attendance for Financial Aid

The budget below represents an estimated cost to attend Lakeview College of Nursing for 2021-2022. It is based on two semesters/9-month school year and the premise that the student will be attending full-time. The two budgets represent one for the Independent student and the other for the Dependent student with parent(s).

The budget includes direct costs (tuition, fees, and estimated books) and in-direct costs (housing, travel, and miscellaneous). These costs vary by individual student and Do Not reflect what is due to the college that is stated on your student billing statement that you will be issued each semester.

	Dependent	Independent
Tuition & Fees*	$17,480	$17,480
Room & Board***	$2,925	$4,950
Books**	$1,830	$1,830
Travel	$1,888	$1,888
Miscellaneous	$1,984	$1,984
Totals	$26,107	$28,132

*Tuition Rate x 30 credit hours ($470) and Fee Rate x 30 credit hours ($70) and per course Testing Fee ($160)
**Average Books & Supplies cost comparison by program
***Average per area housing ($325- month Dependent, $550 month Independent)
Miscellaneous personal expenses at $220 per month
Travel - an average of 150 miles per 32 weeks

Step 2 - Verification

Lakeview College of Nursing’s Financial Aid Office performs verification on all students applying for financial aid and verifies all elements of the FAFSA data. You and your family will be requested to provide the documentation concerning the information required on the FAFSA. Your financial aid file will not be completed, and student financial aid (that you may qualify for) will not be awarded until all verification is complete. Any instances of conflicting, erroneous, or omitted information may require a correction to your FAFSA data. Once corrections are processed and returned, you will be updated to any changes in eligibility. It is important to reply to all requests for verification documentation. Verification must be completed and corrections made (if applicable) before the end of the semester for which you are applying for student aid funds or all "potential" funds will be canceled.

Note: The verification process is not related in any way to the due date of the student’s semester billing. In order to apply student aid funding towards direct educational costs, the verification process must be completed and determined accurate and student eligibility determined prior to the billing due date. It is the student’s responsibility to pay their bill by the billing due date to avoid being dropped from classes due to nonpayment.