Sections of this page:
- Using Financial Aid to Pay for Classes
- Important Notice/Deadlines
- How to Apply for Financial Aid
- Financial Need
- Independent/Dependent Status
- Financial Aid and Withdrawals
- Federal Refund Rule (Return of Title IV Funds)
- Student Academic Progression (SAP) 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 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 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 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 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.
|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.
- 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 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, 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 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) 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 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.
Applicant's 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
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.
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.
|Tuition & Fees*||$17,930||$17,930|
|Room & Board***||$3,150||$5,400|
*Tuition Rate x 30 credit hours ($480) and Fee Rate x 30 credit hours ($75) and per course Testing Fee ($160)
**Average Books & Supplies cost comparison by program
***Average per area housing ($350- month Dependent, $600 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. 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.
Financial Aid and Withdrawals
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.
Federal Refund Rule (Return of Title IV Funds)
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*:
- 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
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.