Tuition and Financial Aid

Financial assistance at Lakeview College of Nursing is available through scholarships, grants, and loans. Additional information and counseling may be obtained from the Financial Aid Office on the second floor, room 202, of the Danville 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 aid received 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 for use at the Follett Bookstore at Danville Area Community College. 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 a student's enrollment status, class attendance, personal circumstances, or federal or State deadlines.  The student is responsible for all college bills not covered by their financial aid - direct any questions to the Financial Aid Office.

Important Notice/Deadlines

2023-2024
October 1st of Each year	Federal/State Application Opens
2024-2025
January 1st	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 the fall semester, November 1 for the spring semester, and March 1 for the summer semester. [Note: One scholarship application must be on file for enrollment duration; however, completing FAFSA is required for each award year.] Scholarship applications and information may be found at https://lcn.edu/scholarships.
• Federal Direct Loan Processing – The priority date to 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 and verified as accurate (and corrected if applicable) no later than the last day of the semester for which student aid will be applied.

How to Apply for Financial Aid

To receive federal and/or Illinois State student financial aid to attend Lakeview, a student must 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) online 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 online. Please contact the LCN Financial Aid Office to discuss what aid 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 determine which programs students qualify for and how much aid students will receive. The LCN Financial Aid Office will inform students 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.

Students can request Professional Judgment based on special or unusual circumstances. A special circumstance may include job loss, divorce, death, medical, etc. An unusual circumstance may include human trafficking, parental abandonment, etc. Results from the FAFSA must be on file, and that information must be verified before a special or unusual circumstance can be evaluated. Students will receive results from the Financial Aid Office by ten business days of receipt of the entirety of the file. Please contact the Financial Aid Office to proceed with the request.

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 the family unit because Federal student aid programs are based on the idea that students and their parents or spouses (if applicable) are primarily responsible 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 of 18

• are married/have 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. Direct any questions about financial aid eligibility to the Financial Aid Office.

Financial Need

Student aid will only be offered based on LCN credit hours. No "concurrent" enrollment with another school will be considered when packaging aid. Most federal and state financial aid is processed based on demonstrated financial need. The formula used to determine who has a 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.

Financial assistance is available for up to the maximum dollar amount for eligibility, and the total financial aid package may not meet the Cost of Attendance.

The various sources of aid have maximum amounts and may be further affected by the limited availability of funds. Loans may be available if grant aid is insufficient. Please inquire at the Financial Aid Office for additional funding.

Cost of Attendance for Financial Aid

The budget below represents an estimated cost to attend Lakeview College of Nursing for 2022-2023. 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 indirect costs (housing, travel, and miscellaneous). These costs vary by the individual student and Do Not reflect what is due to the College. Students should check their billing statements for semester costs.

Junior Level (Semesters 1-2)	DEP	IND
Tuition & Fees	19375	19375
Living Expenses:  Housing                                Food	2025 3360	6075 10080
Books, Course Materials, Supplies & Equipment	3149	3149
Transportation	3120	3120
Miscellaneous Personal Expenses	1980	1980
Federal Student Loan Fees	79	132
Federal PLUS Loan Fees	1082	-----------
TOTALS	34170	43911

 

 

Senior Level (Semesters 3-4)	DEP	IND
Tuition & Fees	18265	18265
Living Expenses:  Housing                                Food	2025 3360	6075 10080
Books, Course Materials, Supplies & Equipment	507	507
Transportation	3120	3120
Miscellaneous Personal Expenses	1980	1980
Federal Student Loan Fees	79	132
Federal PLUS Loan Fees	947	-----------
Graduation Fee	200	200
Professional Licensure	367	367
TOTALS	30850	40726

 

The 9-month COA provided is for full-time enrollment and will be adjusted for less-than-full-time enrollment or single-term enrollment. The budget includes direct costs and indirect costs. These costs can vary by the individual student and do not reflect what is due to the College. Students should check their billing statements for semester costs.

Tuition/fees include per credit rate of $500 tuition, $75 fees; testing fees of $190 per course (8); $10 fee per clinical (10).
The Junior level includes 3 clinicals, and the Senior level includes 7 clinicals.
Housing per month ($225 dependent, $675 independent).
Food per month ($373.33 dependent, $1,120 independent).
Transportation is based on 150 miles per 32 weeks.
Miscellaneous Expenses ($220 per month).

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. To complete the verification, the FAFSA will be reviewed, and the student and their family (if applicable) may be requested to provide the documentation concerning the information reported on the FAFSA. The student and their family (if applicable) will also submit the completed and signed Information Verification Worksheet. The student and their family will be requested to provide the documentation concerning the information required on the FAFSA. The financial aid file will not be completed, and student-eligible financial aid will not be processed until all verification is complete. Any conflicting, erroneous, or omitted information may require correcting FAFSA data. Once corrections are processed and returned, students will be updated on 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 that aid is being applied to, 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 accurately, and student eligibility must be determined prior to the billing due date.

Adjustments to charges and Financial Aid may occur when a student withdrawals or ceases to attend. This change is based on the withdrawal and last day of attendance. Please refer to the refund schedules published in the current academic calendar. Failure to attend class without officially withdrawing may void financial aid, leaving the student responsible for all charges. To officially withdraw, a student must submit a completed withdrawal form to the Director of Enrollment/Registrar. It is in the best interest to speak to the Financial Aid Office prior to withdrawal. NOTE: No loan refund check can be released if it is determined that a student has ceased attendance.

The withdrawal refund policy for student financial aid funds will comply with regulations for the Return of Funds of Title IV aid (Requirements of 34 CFR 668.22). The Department of Education mandates that unearned federal financial aid funds are returned to the specific program if a student withdraws from all coursework in a semester. The refund amount is determined by the days of the semester the student was in attendance versus the remaining days (after withdrawal) until the semester ends.

Any unearned Title IV aid must be returned to the Federal Government within 45 days of the withdrawal determination date. Students are notified by mail of their debt to the Department of Education. This debt must be paid on time for the student to receive future financial aid.

Funds returned to the Federal Government are used to reduce the outstanding balances in individual federal programs. Financial aid returned by the student and/or a parent or the College must be allocated in the following order*:

1. Federal Unsubsidized Direct Loan
2. Federal Subsidized Direct Loan
3. Federal Direct Parent Loan (PLUS)
4. Federal Pell Grant

*Federal programs the College does not participate in are not included in the distribution.

Contact the Financial Aid Office for more details regarding this policy.

State and/or Accrediting Agency Refund Rule
The State of Illinois has not established a mandated refunding rule for private colleges.
The Higher Learning Commission, as an accrediting agency, has not established a refund rule.

Please see the Satisfactory Academic Progression Policy for information on how academic progression can affect financial aid benefits. Lakeview College of Nursing has one SAP policy that applies to all students.