Section III: Student Finance
Section III: Student Finance jeffLakeview College of Nursing reserves the right to make appropriate revisions, amendments or corrections to policies and procedures at any time, with or without notice.
Tuition and Fees
Tuition and Fees jeffNursing education is a future investment, resulting in higher earning potential and greater career choices. Lakeview College of Nursing actively works to keep costs down while maintaining high standards.
Academic Year 2024-2025 Tuition | $510 Per Credit Hour [part-time or full-time] Regardless of Residence or enrollment status [Cost range for 1-17 hrs. = $510 - $8,670 per semester] |
Course Fees1 | $75 Per Credit Hour* [Cost Range for 1-17 hrs. = $75 - $1,275 per semester] |
Testing Fee2 | $190 per course |
Lab Equipment Fee for N311, N312 and N321 | $75 for each course |
Clinical Fee3 | $10 per clinical course |
Graduation Fee | $200 |
Proficiency Examination Fee | $100 per test |
Portfolio Fee | $100 per Credit Hour |
Audit Fee | $50 per Credit Hour |
Late Registration Fee | $50 |
Late Payment Fee | $50 |
Returned Check Fee | $30 |
Lost of Misplaced Clinical ID Badge | $25 |
Lost or Misplaced Key Fob | $25 |
Parking | Free |
1Course Fees: Orientation, Technology, Simulation, Library, Student Activity Fee, Assessment, Health Record Maintenance, Student Malpractice Insurance, Facilities
2Testing Fee: ATI Nursing Education [Standardized Testing, Comprehensive Predictor, NCLEX-RN Live Review, Skills Modules, Video Case Studies, Drug Guide]
3Clinical Fee: Clinical Placement
Student Insurance: Students need to carry their own health insurance coverage. Students will be financially responsible for any medical care. This includes but is not limited to needle-stick injuries, clinical injuries, emergency room, or any medical care at a clinical site.
Resources - For more information on some possible health care plans, view below:
- Health Insurance Marketplace - The U.S. government portal for the Affordable Care Act, providing information on major medical plans, qualifying for Medicaid/Medical, local resources, FAQs, and how to apply for a healthcare plan outside of open enrollment. https://www.healthcare.gov/
- Student Insurance Plans - http://www.ejsmith.com and https://www.insuranceforstudents.com
Please refer to Cost of Attendance.
Other Expenses | |
Semester I (Courses 311, 312, 313, 314) | $2027 |
Includes: Books ($963) Scrub Uniforms, White Coat, Shoes, Penlight, Watch with a second hand, Bandage scissors, Stethoscope, Blood Pressure Cuff with Sphygmomanometer ($350) Electronic device ($700) [Laptop - see required specs] | |
Semester 2 (Courses 321, 322, 323, 324) | $495 |
Includes: Books | |
Semester 3 (Courses 431, 432, 433, 434) | $305 |
Includes: Books | |
Semester 4 (Courses 441, 442, 443, 444) | $595 |
Includes: Books ($203) Nursing License Costs: (approximate costs) Travel to Clinical Sites (clinical sites are generally within a 70-mile one-way radius from the College) | |
Optional Expenses (approximate costs) | |
Oto-Opthalmascope $275
|
Please Note:
Books, equipment, etc. may be purchased at:
- Follett Bookstore at Danville Area Community College - 217-443-8759
- Other vendors, such as Amazon or Lippincott.
Uniforms: Students will need to purchase uniforms through Star Uniform https://www.star-uniform.com
Patches: Students will need to purchase a minimum of two patches, $5.00/each. One patch for the scrub-top - sewn on the upper left chest and one patch for the lab coat- sewn on the upper left sleeve. See pictures for proper placements. Patches are available at the College.
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Charleston Location Students
Charleston Students under former LCN/EIU agreement
Students enrolled at the Charleston location can take advantage of Eastern Illinois University Student Services. Students must sign up for the services by the fifth day of the semester. Please complete the form and return it as designated. EIU will create a PAWS account for the student.
Students also have the opportunity to waive or enroll in EIU Student Health Insurance. Access the EIU PAWS account at http://www.eiu.edu/paws or contact 217-581-6605 to make payment.
EIU Student Fees & Health Insurance
Student Fees - Charleston students who elect to enroll for EIU services will be charged a flat fee of $450.00 each semester for EIU services [recreation center, computer labs, library, health services, union center, campus improvement, etc.] Students must notify EIU of the election to receive services within five (5) calendar days of the start of each semester and make full payment of the account balance at that time.
Health Insurance Fee – all inquiries and deadlines related to EIU Student Insurance should be directed to the EIU Student Insurance Officer by calling 217-581-5290.
Payment of Tuition and Fees
Payment of Tuition and Fees jeffAccounts are due in full by the date specified on the semester invoice. Students can view account statements anytime through their online student account (SONIS). Failure to pay in full, enroll in the tuition payment plan, or demonstrate approved financial aid coverage by the specified date will result in course drops.
Payment Options:
- Self-Pay: Cash, check, debit, or credit card (online payment available)
- Financial Aid: Completed and verified financial aid file, scholarship awards, and confirmed Federal Direct Student/Parent Loans
Note: Current semester loan monies cannot be used for previous semesters - Private Loans: Approved private educational loans
- Lakeview Scholarship Awards: Confirmed awards from Lakeview College of Nursing
- Third-Party Payment Agreement: Employer tuition assistance, College Illinois, Veteran's Benefits*, Military Tuition Assistance (TA)**, WIA, Voc. Rehab, etc.
Payment Plan: Nelnet Business Solutions (NBS) tuition management plan
o Not a loan program; no debt, interest, or finance charges
o $25 non-refundable enrollment fee per semester
o Enroll at http://mycollegepaymentplan.com/lakeview [have a student ID and balance available]
o Missing payments may cause additional fees and eliminate future payment plan options.
o Contact the cashier at 217-709-0922 or studentaccounts@lcn.edu for questions.Note: Any funding received on the student's behalf will first be applied to outstanding tuition, fees, and book balances.
Financial Obligations
Students must clear all financial obligations:
1. Before registering for subsequent terms
2. Before graduation
Failure to clear financial obligations will result in:
• Inability to progress in the program
• Withholding of diploma
• Delay in sending the Certificate of Education form to the state for NCLEX examination eligibility
Veteran's Benefits - Chapter 31 and Chapter 33*
Students who have produced a certificate of eligibility by the first day of class for Chapter 31 Vocational Rehabilitation and Employment or Chapter 33 Post 9/11 GI Bill® benefits will not be dropped from courses, charged a late fee, prevented from enrolling, required to secure alternative or additional funding, or denied access to college resources.
Requirements for this provision, students may be required to:
- Produce the VA's Certificate of Eligibility by the first day of class
- Provide written request to be certified;
- Provide additional information needed to properly certify the enrollment as described in other institutional policies.
NOTE: GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs (VA). More information about education benefits offered by VA is available at the official U.S. government website at https://www.benefits.va.gov/gibill
Military Tuition Assistance**
The Tuition Assistance (TA) program pays the cost of tuition and some additional fees. Nearly all military service members are eligible for TA. However, each service branch determines eligibility criteria that often reduce access. Tuition Assistance covers up to 100% Tuition and Fees, not to exceed $250.00 per semester credit hour or $4,500.00 per fiscal year.
All Active Duty Service Members (including Guard and Reserve) must contact their Education Service Office (ESO) or Education Counselor from their branch of service before enrolling.
Please visit the branch of service for Tuition Assistance procedures and application.
Refunds
Refunds jeffGeneral Refund Policy:
• Requested through the Cashier and approved by the Business Office
• Issued as checks only
Students should be prepared to meet their school and living expenses before the issuance of refund checks, as emergency loans will not be available at any time. The College will process refunds according to established procedures, with specific guidelines for different types of funding and circumstances. It's important to note that the Department of Education Federal Refund Policy (Return of Title IV Funds) may take precedence for students whose costs are paid by student financial aid funding.
Refund Schedule:
1. 100% Refund:
• 16-week semester: By the end of 2nd class week
• 10-week or Summer Sessions: By the end of first class week
• 5-week class: By the end of the first class week
• Weekend Format Classes: By Monday following 1st class meeting
• All withdrawals must be processed through the Director of Enrollment/Registrar by Noon
2. No refunds after stated deadlines
Special Cases:
• Federal Aid refunds: Available approximately 30 days after the semester starts
• Private Education funds: Refunded if credit balance occurs after posting to account
• Military Tuition Assistance: See separate TA Refund Policy Schedule
Additional Notes:
• All credit balances are refunded each semester; no carryover to the next semester.
• Federal Refund Policy (Return of Title IV Funds) may apply to students using financial aid.
State and Accrediting Agency Policies:
• State of Illinois: No mandated refund rule for private colleges.
• Higher Learning Commission: No established refund rule.
Federal Refund Rule (Return of Title IV Funds)
The Department of Education mandates the return of unearned federal financial aid funds to the specific program if a student withdraws from all coursework in a semester, as per the requirements of 34 CFR 668.22. The refund amount is calculated based on the number of days the student attended classes versus the remaining days in the semester after withdrawal. Students who have completed 60% or more of the semester are not required to return funds. The College notifies students by mail of any debt owed to the Department of Education. Timely payment of this debt is crucial for future financial aid eligibility. Students should contact the Financial Aid Office for more detailed information about this policy.
Military Benefits - Special Circumstances
Soldiers ordered into active duty service by the Government are advised to speak directly with the Business Office regarding their situation. The College recognizes that active duty orders may require special consideration and handling of a student's academic and financial circumstances.
Military Tuition Assistance (TA) Refund Policy Schedule
16-week Course:
• Weeks 1-2: 100% return
• Weeks 3-4: 75% return
• Weeks 5-8: 50% return
• Weeks 9-10: 40% return (60% of course completed)
• Weeks 11-16: 0% return
10-week Course:
• Week 1: 100% return
• Weeks 2-3: 75% return
• Weeks 4-5: 50% return
• Week 6: 40% return (60% of course completed)
• Weeks 7-10: 0% return
Financial Aid
Financial Aid jeffFinancial assistance at Lakeview College of Nursing is available through scholarships, grants, and loans. For additional information and counseling, visit the Financial Aid Office on the second floor, room 202. 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 will be notified via their LCN student email about aid received and Federal Direct loan processing instructions. Students with a credit balance due to their financial aid will receive a book voucher for use at the Follett Bookstore at Danville Area Community College, with usage limited to the timeframe noted on the form.
Important considerations:
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.
Federal Deadlines: The FAFSA generally opens on October 1 each year. The tax information from the prior-prior year (2022) will be utilized to complete the 24/25 FAFSA.
State Deadlines: The State of Illinois sets a deadline for each award year for the Monetary Award Program (MAP). There is no separate application for the MAP grant; the required information is entered on the FAFSA.
We strongly encourage students to complete the Free Application for Federal Student Aid (FAFSA) as early as possible each award year.
Institutional Deadlines:
Lakeview College of Nursing has established the following deadlines:
• Scholarships:
o Fall semester: June 1
o Spring semester: November 1
o Summer semester: March 1
Note: One scholarship application covers the entire enrollment duration, but FAFSA must be completed annually. For scholarship applications and information, visit https://lcn.edu/scholarships.|
Federal Direct Loan Processing:
o Priority date: No later than the mid-term date of each semester
• Verification Deadlines:
o The student aid file must be completed, verified as accurate, and corrected (if applicable) by the last day of the semester on which 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.gov/h/apply-for-aid/fafsa. Lakeview's school code is #010501.
A student must be enrolled in the minimum number of hours required by the financial aid program.
The FAFSA application and process changed beginning with the 2024/2025 award year. Current information on FAFSA can be found at www.studentaid.gov.
The result of the FAFSA is the FAFSA Submission Summary (FSS). Students can print and/or review their FAFSA Submission Summary (FSS) by signing in at www.studentaid.gov. Lakeview receives an electronic version of the FAFSA called the Institutional Student Information Record (ISIR). The ISIR 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).
Admitted Spring Students
Note: Students admitted for the Spring semester must add Lakeview's school code to the FASFA 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 financial aid.
Professional Judgment
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 consist of 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 within 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:
- Age 24 or older before January 1 of the academic year
- A veteran of the U.S. Armed Forces
- Orphan or ward of the court until age 18
- Married or have children (providing over 50% support)
- Meeting and documenting any other FAFSA status questions as "Yes."
Documentation may be required for Independent Status claims. Contact the Financial Aid Office with eligibility questions.
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:
- Cost of Attendance (COA) – Student Aid Index (SAI) –
Other Financial Assistance (OFA) = Need
Cost of Attendance, or student budget, is the cost of attending college (tuition & fees, living expenses, transportation, books, course materials, supplies, equipment, miscellaneous personal expenses, loan fees, graduation fees, and licensure fees).
The Student Aid Index (SAI) is the result from the student's FAFSA Submission Summary (FSS).
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 surpass 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 2024-2025 estimated cost of attendance is based on:
• Full-time enrollment
• Two semesters (9-month school year)
• Separate budgets for Independent and Dependent students
Budget components:
1. Direct costs:
o Tuition and fees
o Estimated books, course materials, supplies, and equipment
2. Indirect costs:
o Living expenses
o Transportation
o Miscellaneous expenses
Important considerations:
• Costs vary by individual student
• Budget does not reflect actual amount due to the College
• Students should refer to billing statements for semester costs
Junior Level (Semesters 1-2) | DEP | IND |
Tuition & Fees | 19685 | 19685 |
Living Expenses: Housing Food | 2025 3360 | 6075 10080 |
Books, Course Materials, Supplies & Equipment | 3279 | 3279 |
Transportation | 3120 | 3120 |
Miscellaneous Personal Expenses | 1980 | 1980 |
Federal Student Loan Fees | 79 | 132 |
Federal PLUS Loan Fees | 1100 | ----------- |
TOTALS | 34628 | 44351 |
Senior Level (Semesters 3-4) | DEP | IND |
Tuition & Fees | 18555 | 18555 |
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 | 959 | ----------- |
Graduation Fee | 200 | 200 |
Professional Licensure | 364 | 364 |
TOTALS | 31149 | 41013 |
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 $510 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 verifies all financial aid applications and required FAFSA data elements. The process involves:
• Reviewing the FAFSA
• Requesting additional documentation from students and families (if applicable)
• Using FA-DDX to import certain Federal Tax Information (FTI)
• Submitting a completed and signed Information Verification Worksheet
Key points:
• Financial aid will not be processed until verification is complete
• Conflicting, erroneous, or omitted information may require FAFSA corrections
• Students will be updated on any eligibility changes after corrections
• Verification must be completed before the end of the aid-applied semester
Important note: Verification is separate from semester billing due dates. To apply aid towards direct educational costs, verification must be completed and eligibility determined prior to the billing due date.
Step 3 – Acceptance of Aid
The process for accepting financial aid varies depending on the type of aid offered:
• Automatic Application:
o Federal Pell Grant
o State Grant/MAP (Monetary Award Program)
Once eligibility requirements are met, these grants will be automatically applied to eligible students' accounts.
• Manual Acceptance Required:
o Federal Student Loans
For Federal Student Loans, students must complete an additional application process:
1. Review loan offer
2. Decide on loan amount (up to the maximum offered)
3. Complete the Federal Direct Loan application process
Important note: Even if you're eligible for grants, always carefully review your financial aid package. Contact the Financial Aid Office if you have any questions about accepting or declining any part of your aid offer.
Grants
Grants jeffFederal Pell Grant
The Pell Grant is available to eligible students at LCN. To apply, students must complete the FAFSA application for financial aid. The resulting Student Aid Index (SAI) will determine eligibility for all financial aid programs, including the Pell Grant. This aid can be used to pay tuition, fees, books, and supplies up to the amount available each semester. If the student has funds after costs are met, then refunds are generally available 30 days after starting classes each semester.
Illinois Student Assistance Commission (ISAC)
A resident of Illinois (who is a US citizen or permanent resident of the United States) enrolled in an eligible program at LCN, who demonstrates financial need as determined by the Illinois Student Assistance Commission may receive a grant called the Monetary Award Program (MAP). There is not a separate State application. A student must indicate Illinois residency only when the FAFSA is completed to be considered for the State award. A dependent student's parent(s) must be an Illinois resident whose information was required on the Federal Student Aid Application (FAFSA). The State sets deadlines for each award year that a student must meet to be considered for the MAP award. It is recommended that students apply early each award year. The announced awards (estimated or actual) can be reduced or canceled at any time during the award year. The MAP grant is applied to tuition and mandatory fees and is non-refundable to the student.
Loans
Loans jeffFederal Loan Programs
To be eligible to apply for any of the Title IV student loans, students must:
- Apply for financial aid using the FAFSA.
- Have a completed, verified as accurate, student aid file on record.
- Complete loan counseling and other special requirements.
- Be enrolled in at least half-time enrollment status.
- Be enrolled in only coursework relevant to the program of study.
- Meet Direct Loan Program Regulations per 34 CFR part 668.
- Meet School priority dates.
Federal Direct Loan Program (subsidized and unsubsidized)
- Repayment begins six months after the student graduates, withdraws from the school, or drops below half-time enrollment.
- Loan disbursements are deposited in electronic funds to the student's LCN account, and refunds are released no earlier than thirty days after the beginning of the semester.
- Students may request up to $7,500.00 at the Junior or Senior Level each award year (max subsidized amount in the figure is $5500.00).
- Independent students may be eligible for additional unsubsidized loans for a maximum eligibility of $12,500
- Please note: Some students may qualify for the following loan processing standards based on their program completion plan and will be contacted by Financial Aid Office with their Federal loan eligibility.
- Students who graduate mid-year (December) and are enrolled in 6 or more credit hours for the remaining summer and fall semesters can qualify to process aid based on the borrower-based award year (BBAY). This allows the student to maximize Federal loan/grant eligibility.
- Students who graduate mid-year (December) and are not enrolled in any preceding summer semester courses will require Federal loan proration for Federal loans processed in the Fall since the final enrollment period is shorter than the academic year in length.
Federal Parent Loan for Undergraduate Students (PLUS)
Parents may borrow for their dependent undergraduate students. Parents would be eligible to borrow up to the cost of education minus any financial aid.
Loan Interest Rates
To view current interest rates and other loan information, go to StudentAid.gov
Applying for Federal Direct Loans
Once the student file has been verified, loan processing instructions will be forwarded to the student’s LCN email account. The application process is conducted via the Internet. The student must log in at specific sites (noted below) and use the Federal Student ID, which must be used when completing the application for Federal Student Aid (the FAFSA) each award year.
To apply, complete these steps:
- Complete entrance counseling at Studentaid.gov. All first-time borrowers are required to complete this step.
- Complete the Electronic Master Promissory Note (EMPN) at Studentaid.gov.
- Return the loan request responses from the previous email to the FA Office.
- Meet the school priority processing date for the semester regarding loan processing.
If the parent is applying for the Parent Loan for Undergraduate Students (PLUS), the student must:
- Complete the PLUS Application request process at Studentaid.gov.
- Complete the PLUS Electronic Master Promissory Note at Studentaid.gov.
- Contact the Financial Aid Office with the requested loan amount.
34 CFR Section 668.202 (e)(1) of the Federal Direct Loan (DL) Program provides that a school may refuse to certify a Direct or PLUS loan application or may reduce the borrower's determination of the need for the loan if the reason for that action is documented and provided to the student in writing provided the determination is made on a case-by-case basis. All previous borrowing of student loans and total debt will be reviewed before certification of future loans.
Repayment of Federal loans
LCN students who process Federal Loans and drop below half-time enrollment, withdraw from the program, or graduate, will receive personalized exit information from the Financial Aid Office regarding their Federal loans. More information on repaying Federal student loans can be found at https://studentaid.gov/manage-loans/repayment
Federal Student Loan Ombudsman
The Ombudsman Group is dedicated to helping resolve disputes related to Direct Loans, Federal Family Education Loan (FFEL) Program loans, Perkins Loans, and grant programs. If a borrower has completed the steps to resolve a loan dispute and is unsatisfied, the borrower may need to contact the Federal Student Aid (FSA) Ombudsman Group of the U.S. Department of Education (ED). The Ombudsman Group is a neutral, informal, and confidential resource to help resolve disputes about federal student loans. Contact the Ombudsmen Group as a last resort. Make every effort to resolve student loan problems before contacting the Ombudsman Group.
U. S. Department of Education
FSA Ombudsman Group
PO Box 1843
Monticello, KY 42633
Phone: 877-433-3243
Fax: 606-396-4821
You can also submit a claim online at:
https://studentaid.gov/
Alternative Loans
Alternative loans, commonly called "private loans," are offered by various financial institutions to cover the costs of college tuition, which are not covered by other financial aid resources. The private lender will run a credit check on the potential borrower. Also, it is common to be required to have a co-signer for the loan. Interest rates are variable by the borrower and based on many factors that the lender deems relevant.
Alternative loans are intended for:
- students whose financial aid does not cover the total Cost of Attendance is considered in need) or,
- students who may not be enrolled in a financial aid eligible program or,
- students who may not be eligible for financial aid for other reasons.
Depending on individual circumstances, a parent may also be able to borrow alternative loans to help pay for a child's college expenses.
Many companies offer alternative loans. As a wise consumer, shop around and investigate what lender offers the best loan to meet educational needs.
Students may choose any lender. When considering a lender, look at the interest rates, repayment period, "reward" options, the quality of their customer service, and the amount eligible to borrow within specific time frames. These considerations will determine the best loan to meet educational needs.
Lakeview College of Nursing does not sponsor or endorse any lender. We do have a "historical" listing of lenders that current and/or previous students have used. Visit FASTChoice at http://choice.fastproducts.org/FastChoice/home/1050100 to view additional private loan entrance information and compare products offered by lenders on the historical list. As a consumer, research options and use the best judgment to choose a lender. We strongly suggest that students contact us to discuss the Federal Direct loan program and what advantages concerning interest rates, repayment options, and other consumer information may make it a better choice for borrowing funds for educational expenses. A parent of an undergraduate student also has the option of borrowing on the student's behalf for education expenses called the Federal PLUS program; this program may also have advantages for the consumer compared to an alternative loan. Each of these Federal loan programs requires that the Free Application for Federal Student Aid (FAFSA) be completed and verified to be accurate before the loan can be certified and processed. Students can also research this information on their own at the Department of Education's Web page, https://studentaid.gov/understand-aid/types/loans/federal-vs-private.
For all loan questions, please call the Financial Aid Office at 217.709.0928.
Financial Aid and Withdrawals
Financial Aid and Withdrawals jeffStudents who withdraw or cease to attend may experience adjustments to their charges and financial aid. These adjustments are based on the withdrawal date or last day of attendance. Please note:
• Refer to the current academic calendar for refund schedules.
• Failure to officially withdraw while ceasing attendance may void financial aid, leaving the student responsible for all charges.
• Submit a completed withdrawal form to the Director of Enrollment/Registrar to officially withdraw.
• It is advisable to speak with the Financial Aid Office before withdrawing.
• Loan refund checks cannot be released if a student has ceased attendance.
Federal Refund Rule (Return of Title IV Funds)
Federal Refund Rule (Return of Title IV Funds) jeffThe 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. A student who completes at least 60% of the semester is not required to have Title IV funds returned.
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 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*:
- Federal Unsubsidized Direct Loan
- Federal Subsidized Direct Loan
- Federal Direct Parent Loan (PLUS)
- 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.
Student Academic Progression (SAP) and Financial Aid
Student Academic Progression (SAP) and Financial Aid jeffPlease 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.
Veteran's Education Benefits
Veteran's Education Benefits jeffAs the certifying official, there are important steps that the student and LCN must follow to ensure that benefits are received on time and students are not overpaid and required to repay to the Department of Veteran Affairs. These steps are as follows:
- Applying or renewing benefits, all correspondence with the Federal Agency is with the student/the veteran. LCN is not sent copies of approvals or certificates of eligibility. Please submit all eligibility correspondence to financial aid.
- Refer to this website concerning education benefits: https://www.va.gov/education
- Each semester the student must:
- Complete and return the LCN Veteran's Enrollment Certification Form to the Financial Aid office. The blank form will be emailed to the student before starting each semester.
If a student withdraws, drops, or changes credit hours after initial enrollment, contact the LCN Financial Aid office immediately so that we can contact the Deptartment of Veterans Affairs to notify them of the change in hours. This change can result in an overpayment of entitled benefits if this is not done. Depending upon Chapter benefits, the school may be required to return funds on the student’s behalf, and the student becomes responsible for paying the school. Please visit https://va.gov/manage-va-debt/ to manage debt.
If you have any questions regarding the amount of entitled benefits, remaining months of benefits, or other inquiries, please call the Dept. of Veterans Affairs Regional Office at 1-888-442-4551. The school does not have access to this information.
If Chapter enrollment is required, the student will self-certify college enrollment monthly via the Web Automated Verification of Enrollment (WAVE) https://www.gibill.va.gov/wave/index.do.
COMPARE THE PROGRAMS
If a student is eligible for another benefit program and the Post-9/11 GI Bill® (Chapter 33), review the side-by-side comparison of benefits under each program. https://benefits.va.gov/GIBILL/comparison_chart.asp.
While each individual's situation is different, this may help determine which programs provides the most benefit whether you want to apply for the Post-9/11 GI Bill® or another benefit program. Remember, giving up another program to receive the Post-9/11 GI Bill®, is an irrevocable choice - this means that once a decision is made to select the Post-9/11 GI Bill®, it cannot be switched back to the previous program. At this time, a college must be selected for enrollment. https://www.benefits.va.gov/gibill/school_decision.asp
NOTE: GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs (VA). More information about education benefits offered by VA is available at the official U.S. government website at https://www.benefits.va.gov/gibill
CONTACT INFORMATION
LCN Veteran's Certifying Official
Tammy Garza 217-709-0928 tgarza@lcn.edu
LCN Director of Financial Aid & Veteran's Education Benefits
Janet Ingargiola 217-709-0930 jingarg@lcn.edu
For the Online Brochure of Federal Benefits for Veterans, Dependents and Survivors 2021 Edition: https://www.va.gov/opa/publications/benefits_book.asp
THE VETERAN'S ADMINISTRATION - PHONE NUMBERS
- Dept. of Veteran Affairs Regional Office 1-888-442-4551
- Monthly Enrollment Certification 1-877-823-2378
- General Information other VA Benefits 1-800-827-1000
- POW/MIA Certification 217-782-3564 or 217-782-6641
- Call Center: The Department of Veterans Affairs Education Call Center is open for telephone calls Monday through Friday during normal business hours from 7:00 am to 8:00 pm Central Standard Time 1-800-827-1000
AT THE STATE OF ILLINOIS
Veteran's Illinois Contact https://www.va.gov/directory/guide/state.asp?State=IL&dnum=ALL
WEB PAGES FOR VETERANS AND/OR THEIR SPOUSE/DEPENDENTS
- https://www.va.gov/WelcomeVA_Guide_print_version_final.pdf (Welcome Guide)
- https://www.ebenefits.va.gov/ebenefits/homepage (VA/DoD Benefits and Services)
- https://www.gibill.va.gov/wave/index.do (WAVE)
- https://www.benefits.va.gov/GIBILL/DEA.asp (Dependent’s Education Assistance Program Chapter 35)
- https://maketheconnection.net/ (Information, resources, and solutions affecting health and well-being)
- https://nrd.gov/ (National Resource Directory)
- https://www.va.gov/careers-employment/vocational-rehabilitation/ (Veteran Readiness and Employment Chapter 31)