Types of Financial Aid
Scholarships and grants are types of financial aid that do not need to be repaid.
New students entering the traditional program in 2016-2017 may view the guide to the right for information relating to the opportunities available to them at their time of enrollment.
For returning students, the cumulative GPA after the fall term is always used when determining continuing scholarship eligibility for the next academic year. Renewability of scholarships and the required GPA's for scholarship renewability are determined by the year you entered Lakeland College.
Education award for community service with AmeriCorps.
A federal grant for eligible students that is need-based and does not need to be repaid.
A federal grant is for students with exceptional financial need. Awards are based on amount allocated to the college each year by the Department of Education.
More info about the Federal Direct Student Loan Program
This federal loan program offers a competitive fixed interest rate. A student must be enrolled in six or more credits per term to be eligible for federal loans. Loans are borrowed from the U.S. Department of Education through the Federal Direct Loan Program. There are two types of student federal direct loans:
- Subsidized Loans – Need-based; interest is paid by the government while the student is in school. This loan program offers a fixed interest rate of 3.76% for loans disbursed after July 1, 2016 and before July 1, 2017.
- Unsubsidized Loans – Not need-based; interest begins accruing immediately and is payable from the date of first disbursement or may be capitalized. This loan program offers a fixed interest rate of 3.76% for loans disbursed after July 1, 2016 and before July 1, 2017.
The government charges a loan origination fee of 1.068% (effective 10/1/2016) on Direct Subsidized Loans & Direct Unsubsidized Loans. This fee is withheld from the amount borrowed before disbursing to the school. First-time borrowers are required by the Department of Education to sign a master promissory note and complete entrance counseling. Both of these requirements may be completed online at studentloans.gov
The federal Perkins loan is a federally funded, low-interest loan program. Lakeland College selects high-need recipients. As of October, 2015, the Department of Education has ceased funding new students to the program.
More info about the Federal Direct Parent PLUS Loan
The federal parent PLUS loan provides loans to parent of dependent students attending post-secondary schools. All loan funds received under this program must be used to pay for the cost of attending a post-secondary school.
Parents may apply for instant approval and complete the federal direct PLUS master promissory note online at studentloans.gov. Specific instructions are available by clicking here. If you do not have online access, please contact the financial aid office. Please be aware that the credit check/loan approval is only valid for 180 days.
The financial aid office will be notified electronically of the credit decision. If the application is approved, the financial aid office will certify the PLUS loan. If a parent is denied a PLUS loan, the student’s financial aid package will be reviewed to determine if there is additional federal direct unsubsidized loan eligibility. A revised financial aid award will be completed.
The government charges a loan origination fee of 4.272% (as of 10/1/2015) on the Direct PLUS (parent) Loans. This fee is withheld from the amount borrowed before disbursing to the school. The Direct PLUS loan is not need-based; interest begins accruing immediately and is payable from the date of first disbursement or may be capitalized. This loan program offers a fixed interest rate of 6.31% for loans disbursed after July 1, 2016 and before July 1, 2017.
A work-study program awarded to high-need recipients. Students work on campus for a maximum of ten hours per week.
State of Wisconsin
For students who have the highest high school GPA of their graduating class.
(DVR) training grant offers funding to individuals with disabilities.
May be offered to Wisconsin residents who have severe, profound hearing or visual impairment and who have completed the Hearing & Visually Handicapped Student Grant Application.
May be offered to Wisconsin resident of Native American descent who have completed the Indian Student Assistance Grant Application.
A candidate for this grant may be nominated by the Office of Financial Aid if he/she qualifies as a minority student.
The TIP grant designed to assist low-income, disadvantaged freshmen students. Students may apply for this grant at the nearest Wisconsin Educational Opportunity Program office. More information.
For students who signed the Wisconsin Covenant pledge, have fulfilled the requirements of the pledge and whose EFC (Expected Family Contribution) calculated by the Free Application for Federal Student Aid (FAFSA) is within the measure as determined by the Wisconsin Covenant Foundation.
For students who signed the Wisconsin Covenant pledge and have fulfilled the requirements of the pledge.
May be offered to Wisconsin residents who attend Wisconsin private colleges such as Lakeland College. Funds for this program are limited. Students are strongly advised to meet the March 15th FAFSA priority filing date.
Other Types of Financial Aid
More info about Alternative Loans
Students are recommended to exhaust all federal loan options before applying for an alternative loan. If additional funding is needed, alternative loans are a source of non-federal educational loans available through a variety of national lending institutions. Minimum and maximum amounts to borrow vary by program, but all require a satisfactory credit history for approval. These loans have their own application processes, which are available online.
Click on the link above for more information. Please contact Sue Bialk, Manager of Student Accounts at 920-565-1032 ext. 2378 or Karen Fischer, Assistant Director of Financial Aid at 920-565-1032 ext. 2376 if you have any questions.
More info about Outside Scholarships
Outside scholarships are scholarship opportunities that a student researches and applies for independently. Click to view some national scholarship search engines. Additional outside scholarship opportunities that are shared with Lakeland College are accessible on the financial aid page at my.lakeland.edu.