There are eligibility requirements that must be met before a student can apply for financial aid and maintain their eligibility for financial aid.
- Have a High School Diploma, GED, academic transcripts or acceptable home schooling documentation
- Be enrolled in an eligible program
- Complete all required documents/paperwork
- Provide supporting documentation where required
- Maintain a 2.0 GPA
- Maintain a 95% attendance rate
Any student convicted of possessing or selling illegal drugs while receiving financial aid may become ineligible for aid depending on the type and number of convictions.
The school uses the Department of Education formula to determine loan eligibility:
Cost of Attendance – Expected Family Contribution
= Need
The Expected Family Contribution is determined through the Federal Needs Analysis System using an assessment of the potential student/spouse/parent’s income and assets.
The Cost of Attendance is determined by each individual institution. A standard budget is developed using averages costs for a student during their enrollment. Actual costs will vary between students depending on their particular situations. To access LWT’s Cost of Attendance, visit our net calculator at net calculator page.
Once the award is determined the financial aid officer will put together an “award package” for the student.
Financial Aid Verification
Any individual applying for financial aid may be randomly selected by the Department of Education for a review process called Verification. LWT reserves the right to also select a student for Verification to solve any conflicting information. The school will notify the potential student via email or mail, of the verification documents required and the time allowed to complete and return the documents to the school. Once all the required documents are received the Financial Aid Administrator will review and compare the information to the information reported on the FAFSA. If corrections are necessary the Financial Aid Administrator will use the FAA Access on the Web to make the needed corrections. Once the Verification process is completed the Financial Aid Administrator will determine the amount of assistance available to the student.
Professional Judgement
The Higher Education Amendment of 1986 gives the Financial Aid Administrator the authority to make adjustments to the potential student budgets based on the Financial Aid Administrator’s own “professional judgement”. The potential student must submit documentation to the Financial Aid Administrator that will show the potential student’s extenuating circumstances. These documents will include an explanation of the reason(s) for the changes and present the adjustments made to the individual potential student’s need analysis. Examples of some documentations could include statements from the potential student, parents, accountant, banks, and social agencies. All verifications must be completed before professional judgement will be considered. A letter or email will be sent explaining the results of the professional judgement and any changes to aid package.
The Professional Judgement authority is a case by case basis. It is not a means to increase eligibility “across the board”.
Dependency Overrides
Dependency overrides are on a case by case basis. If any potential student is in a situation where dependency override is needed the potential student will need to submit in writing and provide documentation to prove why he or she believes dependency override is needed. The Financial Aid Administrator will inform the student in writing if the dependency override is approved.