...Important information for new borrowers...
Financial assistance in the form of grants, loans, and/or campus employment is available to qualified students. Information regarding programs, policies, rules, regulations, consumer information and eligibility criteria can be obtained from Lamar Institute of Technology, Office of Student Financial Aid, P.O. Box 10043, Beaumont, TX 77710.
Students wishing to apply for grants, loans and/or work-study programs must file the Free Application for Federal Student Aid (FAFSA) with the Department of Education. This is the first step in the application process - providing a federally determined degree of financial need for each student. FAFSA results are required for any student seeking financial assistance at LIT.
Students are encouraged to submit the FAFSA online. Applying via the Internet can greatly reduce response time for initial results and may simplify the renewal process in subsequent years. The Internet address for FAFSA On the Web is www.fafsa.gov.
Students submitting the FAFSA online will receive email notification of tentative eligibility from the Central Processing System. The school will receive an electronic version of this report for each student selecting Lamar Institute of Technology as a preferred school. The federal school code for LIT is 036273.
A FAFSA worksheet is available to assist students with their online FAFSA. Worksheets can be obtained from the Office of Student Financial Aid, Lamar Institute of Technology, P.O. Box 10043, Beaumont, TX 77710.
Receipt of electronic FAFSA results will initiate campus based processing of individual student applications for financial assistance. Students are required to establish an official LIT email account for access to important information and notifications. They will be directed to monitor their Self Service Banner Account (Financial Aid Tab) for information related to student status, outstanding requirements and award notifications.
FINANCIAL AID SUPPLEMENT – Required for all FAFSA applicants at LIT. Collects general information related to enrollment plans, potential outside resources, previous college attendance. Provides valuable information related to student rights and responsibilities with regard to admission, enrollment, satisfactory academic progress, etc.
VERIFICATION DOCUMENTS – Required for all students selected for this federal quality assurance protocol. Requires submission of a verification worksheet along with hardcopy documentation of all household income sources from the specified base year.
The Pell Grant, designed for undergraduate students is the foundation source for all other need-based assistance programs. A student’s Pell Grant award is directly related to the family’s ability to contribute toward his/her education. The “Expected Family Contribution” is a direct result of the Free Application for Federal Student Aid (FAFSA). No other need-based assistance (grants, loans, work-study) can be awarded until the student’s eligibility for the Pell Grant is determined.
The Federal Supplemental Educational Opportunity Grant (FSEOG) is another federal grant intended for undergraduate students with exceptional levels of financial need, as determined by the FAFSA. Those students with the lowest “Expected Family Contribution”, who also qualify for Pell Grants, will receive priority in the awarding process.
The Texas Public Education Grant (TPEG) is based on state provided funding sources and is available to students attending at least half-time on the LIT campus. Texas residents meeting the April 1 Priority Deadline will be given priority in the awarding process. Students with exceptional need as determined by the FAFSA may be awarded one of these grants.
The TEXAS Grant is a state appropriated fund designed for Texas residents. Recent high school graduates who have completed all parts of the “Recommended” or “Distinguished” high school curriculum may be eligible for these funds. These students must show financial need through the FAFSA and must be enrolled at least three-quarter time. An official transcript with the state seal indicating the type of curriculum completed must be submitted for a student to be considered for TEXAS Grant funds.
The Texas Educational Opportunity Grant may be available to Texas residents enrolled at least half-time in an associate’s degree or certificate program on the LIT campus with no eligibility for the original TEXAS grant.
Students interested in qualifying for federal Student Loan Programs may do so after eligibility levels have been determined through submission of the FAFSA. Students may be required to submit a Loan Request Form to the Financial Aid Office to indicate interest in a Student Loan. These long-term loans, with repayment scheduled after graduation, may be obtained under the William D. Ford Direct Loan Program, with Subsidized and/or Unsubsidized Loans available.
First-time borrowers at LIT are required to complete an online Entrance Counseling session. All required paperwork should already be completed for determination of eligibility for other types of aid. Loan Request Forms will be accepted ONLY for those students who have successfully completed preliminary paperwork and passed the Entrance Counseling requirement. Federal guidelines require a mandatory 30 day delay on initial disbursement of any loan funds for first-time borrowers.
Employment opportunities under the Federal and/or State Work-Study Program allow students to secure part-time jobs to help defray the educational costs incurred during a student’s college career. Positions are available on campus, and through some federally approved not-for-profit agencies. The work-study program allows students to work around their class schedules and gain valuable on the job experience.
The priority deadline for financial assistance at LIT is April 1st each year. Applications for financial assistance should be submitted online and processed by the Central Processing System by April 1 for the following academic year. Processing will be done on a first-come-first served basis according to receipt of FAFSA results and individual student response to outstanding requirements. Notification of awards for eligible students will be viewable in the Self Service Banner Module. For students not meeting the priority deadline - processing will continue and awards will be made as long as funds are available. The most desirable types of aid, however, are normally expended early. Students should make every effort to meet the April 1 deadline.
Summer is considered to be a “cross-over period” as related to the federal fiscal year and will be treated as a ‘trailer’ to the preceding academic year (Fall/Spring). Current student status must be confirmed therefore students seeking financial assistance during the summer semesters must meet the following criteria:
- Current Year FAFSA in place and all required paperwork completed
- Upcoming Year FAFSA completed and processed prior to April 1st
- Pre-register for a minimum of six (6) semester hours over the entire summer
- Preregister by posted deadline for summer enrollment for a specific year.
The Institute holds a contract for educating veterans under the Vocational Rehabilitation Law, known as Public Law Number 16, and is an approved institution of higher education for veterans under Public Law Number 346 and Public Law Number 550. The vocational training has been especially prepared for those who wish to establish themselves in business and industry in the Sabine-Neches area. Veterans who are interested in continuing their education should secure approval from the Office of Veterans’ Affairs, Wimberly Student Affairs Building. Advice on program and training opportunities, academic assistance and advising is available from this office or by writing to Box 10017, LU Station, Beaumont, TX 77710.
Students seeking financial assistance for educational purposes must meet and maintain the satisfactory academic progress (SAP) standards as established by federal regulations and institutional policy for eligibility at Lamar Institute of Technology. Such progress will be measured at the beginning of each semester for which a student is applying for assistance. Evaluation will be based on cumulative academic performance to determine if a student is eligible to receive Title IV Student Financial Aid.
To comply with the satisfactory academic progress standards and remain academically eligible for assistance, a student must be meeting established criteria:
- Be a regularly enrolled student in an approved degree or certificate program. Some certificate programs may not be approved for Title IV Funding. Students uncertain about declared majors should contact the LIT Student Financial Aid Office.
- Enroll in courses that are required for their declared degree or certificate program. Financial aid will not be approved for courses taken outside the approved program of study.
- A student may receive financial assistance for courses that must be retaken as a result of receiving less than a passing grade. A student may not receive financial assistance for coursework previously completed successfully, but repeated at the student’s discretion for the purpose increasing his/her grade point average.
- Transfer credits that are accepted toward a student’s declared program of study will be counted toward both attempted and completed hours.
- PACE – the rate at which a student is progressing toward declared program of study. This has formerly been referred to as “completion rate” and is calculated using the following formula:
PACE = total number of hours successfully completed
total number of hours attempted over career
Students with a calculated PACE of less than 75% are considered to be “off-pace” with regard to completing the declared program of study and are no longer eligible for financial assistance.
NOTE: You DO NOT earn credit hours for the following grades: U, Q, F, NG, or I.
- MAXIMUM TIMEFRAME – for an undergraduate program, cannot exceed 150% of the published length of the declared program of study (degree or certificate). To determine if a student has exceeded the maximum timeframe allowed for receiving financial aid for the declared program of study the following formula is used:
MAX = Credit Hours Required for declared Program X 1.50
Attempted Hours must be ≤ MAX for declared program
A student’s academic history will be considered when determining maximum timeframe for eligibility for financial assistance.SAP Status “W” (warning) is assigned for students whose attempted hours are approaching 130% of declared program. Students reaching the 150% Maximum Timeframe are no longer eligible for financial assistance.
- GRADE POINT AVERAGE – represents the average of all grades for a particular semester(s) and when calculated cumulatively for all grades from all semesters based on coursed completed up to a given academic term. GPA is calculated using the following formula:
GPA = total number of grade points earned
total number of semester credit hours attempted
Students with a calculated GPA of less than 2.0 are not considered to be maintaining satisfactory progress and are no longer eligible for financial assistance.
Failure to achieve satisfactory academic progress based on any of the previously defined criteria will result in Financial Aid Suspension and a loss of eligibility for all types of assistance.
A student who does not meet one or all of the established standards for satisfactory academic progress will be placed on Financial Aid Suspension. This “Suspension” is separate from overall academic standing and in no way prevents subsequent enrollment by a student at LIT. A student on Financial Aid Suspension is not eligible for any type of financial assistance until such time as his/her cumulative statistics meet or exceed previously defined criteria (PACE, MAX, GPA), or until specific terms and conditions of any Financial Aid Probation agreement are satisfied.
APPEALING THE LOSS OF FINANCIAL AID ELIGIBILITY:
A student who has been placed on Financial Aid Suspension based on failure to meet one or all of the established standards may file a Letter of Appeal for any of the following reasons:
- The death of a relative
- An injury of illness of the student, or
- Other special circumstances.
To determine if he/she qualifies to present “special circumstances” as the basis of appeal, a student must determine that mitigating circumstances existed which were so significant in nature as to have caused an entire semester(s) of academic performance to fall below acceptable standards. Any such circumstances must be supported by separate written documentation. Acceptable forms of documentation required to accompany a Letter of Appeal include: death certificates, court documents, affidavits, physician statements. Financial Aid personnel can not be responsible for deciphering and/or interpreting large volumes of random medical records, bills, insurance statements, depositions or irrelevant paperwork.
All appeals and supporting documents must be submitted to the LIT Student Financial Aid office within ten business days of the most recent denial notice.
Student appeals will be considered by reviewing overall academic performance, previous appeal status, and any mitigating circumstances. Failure to present sufficient special circumstances or to provide written documentation to support the basis for an appeal will result in denial of the request.
If a Letter of Appeal is approved, the student will be placed on Financial Aid Probation. The terms of Financial Aid Probation will involve an Academic Plan designed assist the student in his/her efforts to achieve appropriate academic standing ; allowing the student to maintain some or all of the previously awarded financial assistance while demonstrating that he/she can satisfy a set specific performance related criteria . The student will be required to acknowledge the conditions of their probation, and must agree to abide by all conditions prior to disbursement of any assistance.
Academic progress decisions are made at the school level and cannot be appealed to the Department of Education. Deadline for submitting financial aid appeals are set on a semester basis and letters and or supplemental documentation will not be accepted after the established dates. Appeal deadlines are listed in the catalog each year.
Students desiring to submit a Letter of Appeal should do so within ten (10) business days of their most recent denial. A Letter of Appeal and all supporting documentation should be addressed to the Financial Aid Appeal Committee; Lamar Institute of Technology; P.O. Box 10043; Beaumont, Texas 77710. Decisions regarding student eligibility will be made by the Financial Aid Appeal Committee based on information provided by the student. All decisions made by the Appeal Committee are final.
The Department of Education has changed its policy for students who withdraw from school before the semester has been completed.
Students withdrawing during the first 60% of the semester will owe grant and/or loan funds to the government and/or Lamar Institute of Technology.
According to federal regulations (34 CFR668.22):
Any student receiving federal funding, who withdraws prior to completing 60% of the term, must return the unearned portions of any aid disbursed. The applicable refund(s) will be calculated by the school and returned to the proper source within 30 days of the withdrawal, and according to the following sequence:
- Loans (Unsubsidized, then Subsidized)
- Federal Grants (PELL, then SEOG)
- State Assistance
- Student (if any credit has been calculated)
THERE IS NO EXCEPTION TO THIS RULE AND YOU CANNOT APPEAL THIS DECISION TO LAMAR INSTITUTE OF TECHNOLOGY
Students owing refunds must clear balances to all agencies in order to enroll for future semesters, receive transcripts and/or qualify for any type of financial assistance.
Students withdrawing after the first 60% of the semester at LIT will be responsible for 100% of their tuition and fees.
POLICY REGARDING REFERRALS OF SUSPECTED FRAUD OF CRIMINAL MISCONDUCT
In the event that an applicant is suspected of participating in fraud or other criminal misconduct in connection with application for Title IV, H.E.A. program assistance, the information will be referred to the appropriate college, state and or federal authorities. These authorities may include, but are not limited to College Discipline Officer, College Police, Municipal Police and the Office of the Inspector General of the U.S. Department of Education.
A wide variety of scholarships are offered, each year, to students at Lamar Institute of Technology. Scholarships are funds that cover all or a portion of the student’s educational expenses. There are two types of scholarships awarded through The Institute: those administered solely by LIT, and those administered by The Institute at the request of donors, who determine criteria and select recipients themselves. A complete listing of available scholarship funds may be found on our website at www.lit.edu.
Funds administered by the scholarship committee are awarded on the basis of academic achievement, programs of study, or special skills demonstrated by students. Consideration is given to extra-curricular activities such as leadership positions, career accomplishments, or honors and awards received. Departmental scholarships may also be available based on a student’s chosen field of study.
Students applying for scholarships administered by Lamar Institute of Technology should apply to on our website at www.lit.edu. An academic transcript must be submitted with the scholarship application if a student wishes to be considered for award in the upcoming academic year.