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FINANCIAL AID AND SCHOLARSHIPS



General Information

 

 

The Office of Financial Aid at Our lady of the Lake College administers and coordinates student financial aid from federal, state, institutional and private sources. Resources are available to supplement what a student and/or the student's family is able to contribute to educational costs. The goal of the Office of Financial Aid is to attempt to meet the documented financial need, within funding limitations, for all students who have completed the required application processes. Our lady of the Lake College offers several scholarships and participates in Federal Title IV programs including grants, loans and student employment. Counseling is also available for new and returning students to assist them with understanding cost of attendance, financial aid opportunities, money management, and packaging procedures.

 

Students enrolled in a distributed learning program or course and wishes to receive financial aid and/or scholarships, must adhere to the same guidelines as those enrolled in traditional on-campus programs as presented in this Catalog.

 

Contact Information

 

The Office of Financial Aid is located on the first floor of the Student Services Building.

Address: Office of Financial Aid, 7525 Picardy Avenue, Baton Rouge, LA 70808
Telephone: (225) 768-1714, Toll Free (877) 242-3509
Fax: (225) 490-1632
Email: Financial.Aid@ololcollege.edu
Office Hours: Monday - Friday 8:00 a.m. - 5:00 p.m.*

* Hours vary in rare circumstances. Students driving from outside the Baton Rouge metro area to visit a financial aid counselor are encouraged to call in advance.

Institutional Scholarships

Only students who have been admitted to Our lady of the Lake College will be considered for the scholarships listed below.

Incoming Freshman Scholarships

Franciscan Scholarship: The Franciscan Scholarship is awarded to five outstanding entering freshmen who have demonstrated leadership skills, are among the top students in their class academically, and show promise of continuing such performance in college and beyond. Students meeting the following minimum criteria must submit a resume of high school activities and leadership experiences along with an essay to be considered. The minimum criteria for consideration are:

  • High school grade point average of 3.5 or higher

  • Composite ACT score of 24 or composite SAT score of 1110

  • Record of high school activities and leadership

The award is a scholarship package valued at the cost of full-tuition and fees less TOPS for a maximum of eight semesters.

Presidential Scholarship: The Presidential Scholarship is awarded to ten outstanding entering freshmen who are scholastic achievers, and show promise of continuing such performance in college and beyond. The minimum criteria for consideration are:

  • High school grade point average of 3.5 or higher

  • Composite ACT score of 23 or composite SAT score of 1070

The award is a scholarship package valued at the cost of half-tuition for a maximum of eight semesters.

Dean’s Scholarship: The Dean’s Scholarship is awarded to fifteen outstanding entering freshmen who are scholastic achievers. The minimum criteria for consideration are: 

  • High school grade point average of 3.25 or higher

  • Composite ACT score of 21 or composite SAT score of 990

The award is a scholarship package valued at $1,500 per semester for a maximum of eight semesters.

Catholic Advantage Scholarship: The Catholic Advantage Scholarship is awarded to five entering freshmen who graduated from a Catholic High School and meet the following criteria:

  • High school grade point average of 3.25 or higher

  • Composite ACT score of 22 or composite SAT score of 1030

The award is a scholarship package valued at the cost of half-tuition for a maximum of eight semesters.

Program Advantage Scholarship: The Program Advantage Scholarship is awarded to five entering freshmen who have declared Biology, Health Service Administration, Liberal Studies, or Surgical Technology as a major and meet the following criteria:

  • High school grade point average of 3.25 or higher

  • Composite ACT score of 22 or composite SAT score of 1030

The award is a scholarship package valued at the cost of half-tuition for a maximum of eight semesters.

Franciscan Assistance Award: The Franciscan Assistance Award has limited funding and, therefore, is awarded on a first-come, first-serve basis to students meeting the following criteria:

  • High school grade point average of 3.0 or higher

  • Candidates must complete a Free Application for Federal Student Aid (FAFSA) and demonstrate financial need

The Franciscan Assistance Award is $1,000 per fall/spring semester for a maximum of eight semesters.

Continuing Student Scholarships

Continuing students who meet minimum criteria are automatically considered for the scholarships listed below. The scholarships are limitedly funded and highly competitive, therefore students who meet the minimum criteria are not guaranteed to be awarded. Generally, the award process occurs during the summer semester and the award letters are mailed to recipients before the fall term. Actual awards and amounts may vary from year to year based on available funds.

Lettie Pate Whitehead Scholarship: The Lettie Pate Whitehead Scholarship was established to help fund the education of Christian women in specific states, Louisiana being one of them. The minimum criteria are as follows:
  • Candidates must be female
  • Candidates must be Christian
  • Candidates must be seeking a degree in nursing or allied health
  • 3.0 cumulative GPA
  • Demonstrate financial need as determined by the FAFSA

The award is up to $1,000 per semester for two semesters

UPS Scholarship:  The UPS Scholarship is awarded upon recommendation of the Office of Financial Aid. Criteria and award amounts vary each year, but generally students must have a competitive GPA to be considered.

Student Ambassador Scholarship: To apply for the Student Ambassador Scholarship, students must complete and submit the Student Ambassador Scholarship Application to the Office of Student Services. The Student Ambassador Scholarship is awarded to selected students.

Continuation of the award is dependent upon fulfilling specified requirements. The minimum criteria are as follows:

  • Enrolled as a full-time (12 hours) undergraduate student

  • Have a minimum overall GPA of 3.0 (and maintain throughout tenure)

  • Have completed one or more semesters at Franciscan Missionaries of Our Lady University

  • Be in good academic and disciplinary standing with the College

  • Possess leadership potential and be a positive representative of the College community

  • Available to serve at least 30 hours as a member for at least two consecutive semesters

  • Knowledgeable of College services and resources

  • Able to coordinate work, academic commitments, and Student Ambassador responsibilities

Note: Students who are enrolled in a clinical program may not serve as a Student Ambassador.

The Ambassador Scholarship is $300 per semester.

Free Application for Federal Student Aid

The Free Application for Federal Student Aid (FAFSA) is a need analysis form a student must complete in order to determine eligibility for federal, state, and some institutional aid. Specifically, it is the application for federal grants, loans, and student employment programs. The FAFSA collects income, asset, and household information about the student and their family (if applicable) to determine the student's Expected Family Contribution (EFC). The EFC is an estimate of the amount the student and/or the student's family can contribute to the student's education for an academic year. The EFC is used by OLOLC to determine the student's financial need, which is an indicator for the types of aid the student is eligible to receive.

Types of Aid Available and Determining Eligibility

Types of aid may be divided into two categories:

  • Gift Aid - scholarships and grants
  • Self-help Aid - student loans and work-study

Gift aid does not require repayment. Scholarships generally are awarded on the basis of academic achievement or for services rendered, while grants are typically awarded based on financial need.

Self-help aid is not "free money" like gift aid. It comes in the form of loans and employment. A loan is money that must be repaid with interest. Work-study provides students the opportunity to work and earn money to assist with educational expenses.

Some types of gift aid and self-help require a student to demonstrate financial need. Most federal programs are considered need-based aid. Financial need is determined by the College using the following formula:

Cost of Attendance - EFC - Resources = Financial Need


Cost of attendance is an estimate of how much it will cost a student to attend an educational institution for an academic year. It includes tuition and fees, room and board, books and supplies, transportation and personal expenses. With the exception of tuition and fees, all of the cost of attendance components are based on averages and are not student specific. Resources include scholarships, tuition waivers and other types of non-federal aid (usually gift aid). The cost of attendance figure does represent a figure you will owe the College. Tuition and fees are the only costs paid directly to the College.

Eligibility Requirements for Federal Aid Programs

Students must meet the following criteria in order to receive federal student aid:
 

  • Be admitted into a degree or certificate program at least one year in length
  • Demonstrate financial need (some loans do not require an applicant to demonstrate need)
  • Have a high school diploma, GED or standards established by Louisiana, which are in compliance with standards approved by the U.S. Department of Education
  • Be a U.S. citizen or eligible non-citizen
  • Have a valid Social Security Number (SSN)
  • Meet Satisfactory Academic Progress standards (see SAP Policy below)
  • Be registered with Selective Service, if applicable
  • Must not be in default of any federal student loans

Note: A conviction of drug distribution or possession may affect a student’s ineligiblity for federal student aid.

All federal student aid programs have specific eligibility requirements that a student must meet in addition to those stated above. More information detailing specific criteria may be found in the Federal Programs section of this catalog.

 

Satisfactory Academic Progress (SAP) Policy

 

Federal regulations require that students maintain Satisfactory Academic Progress (SAP) in their course of study to continue receiving Federal Title IV Financial Aid. Failure to maintain SAP results in the cancellation of a student's Title IV financial aid, but does not prohibit the student from continuing enrollment with his/her own resources or nonfederal financial aid. SAP is defined as passing a required number of hours and achieving a required  cumulative grade point average (GPA) during a specified semester or academic year. The minimum progress standards will be reviewed once per academic year, usually at the end of the spring semester. Students enrolled in the Practical Nursing Program will be evaluated each term. All specified  semesters attended will be considered in making a satisfactory progress determination without regard to whether or not the student received aid in a given semester. The standards are consistent with institutional polices for students who are not receiving Title IV aid. The three components of the Our lady of the Lake College policy are described below:

Component 1: Qualitative Standard

Undergraduate Criteria– Each student must meet a 2.0 cumulative grade point average (GPA) to remain eligible for federal student aid.

Graduate Criteria– Each student must meet a 3.0 cumulative grade point average (GPA) to remain eligible for federal student aid.

Component 2: Pace Standard

Each student must successfully pass a minimum of 75% (rounded to the next highest number) of their cumulative credit hours attempted during the preceding semesters at the College (rounded to the next highest number). Withdrawals, incompletes, repeated and non-credit remedial course work will be counted toward the hours attempted.

Component 3: Maximum Time Frame

Undergraduate Criteria:

To establish a quantitative measure, a time frame is set for students to finish a program of study. For any program, regulations require that the maximum time frame may not exceed 150% of the published length of the program, measured in the required academic credit hours.

150% of the published length of the program measured in the required academic credit hours.

Graduate Criteria:

You must complete all requirements of the graduate program and complete your program within six calendar years.

Undergraduate Part-time Students: Student who enroll in less than 12 credit hours are considered part-time. Academic progress requirements apply to part-time enrolled students on a proportional basis.

Transfer Students: Transfer  credits, applicable only to the program of study, are calculated into the credits attempted and completed, but are not factored into the cumulative grade point average (GPA) when a student first transfers to Franciscan Missionaries of Our Lady University. If a transfer student is not meeting the minimum GPA requirement when progress is evaluated, transfer credits will be calculated into the cumulative GPA. GPA of transferred credits will continue to be used in the GPA calculation from that point.

SAP Appeal Process

A student who fails to establish good academic standing or  to maintain SAP standards becomes ineligible for federal aid. The student will be notified in writing of his/her ineligibility. A student may regain eligibility if s/he meets the minimum eligibility requirements. If the student has mitigating circumstances such as, death of a relative, illness or injury, or other special circumstances beyond their control that affected their ability to meet SAP standards, the student may appeal the loss of their eligibility. Sufficient documentation of such circumstances must be provided to the Office of Financial Aid with the appeal. Appeals will only be approved for mitigating circumstances such as illness, injury, death of an immediate family member, etc. Approved appeals will result in the student being placed on financial aid probation.

Note: Neither paying for nor sitting out for an enrollment period is sufficient to re-establish eligibility for Title IV aid.

Applying for Financial Aid

Step 1: Go to www.pin.ed.gov to apply for a Personal Identification Number (PIN). If you are required to include parent information on the Free Application for Federal Student Aid (FAFSA), your parent should also apply for a PIN. If you already have a PIN, proceed to step 2.

Step 2: Go to www.fafsa.ed.gov to complete the FAFSA. Be sure to list the OLOLC school code, 031062. The FAFSA is available January 1 of each year for the upcoming academic year. File as early as possible, because limitedly funded programs are awarded on a first-come, first serve basis.

Note to first-time freshmen: The FAFSA also serves as the application for Louisiana's Taylor Opportunity Program for Students (TOPS). To be considered for TOPS, high school graduates must complete the FAFSA by the state determined deadline of July 1.

Step 3: After submitting your FAFSA, a copy is provided electronically to the OLOLC Financial Aid Office (FAO). If you have been selected by the Central Processing System (CPS) for a process called verification, you will be required to submit additional documentation to the FAO. All students will be required to submit the OLOLC Financial Aid Application. The FAO will notify you, via email, of the documentation you are required to provide.

Step 4: Your financial aid eligibility is determined after the FAO has received your FAFSA and all required documents, provided you are:

  • Admitted to OLOLC and/or program;
  • Seeking a degree or certificate program at least one year in length;
  • Meeting SAP policy requirements; and
  • Meeting all other federal eligibility requirements.

Step 5: The FAO will send you an award letter detailing the awards you are eligible to receive.

Step 6: Accept or decline any financial aid offers.

Step 7:If you are a first time Direct Stafford Loan borrower and/or new to OLOLC, you must complete:

  • A Direct Stafford Entrance Loan Counseling session. A link to the online session is available at StudentLoans.gov.

  • A Master Promissory Note (MPN). You may complete a MPN by visiting StudentLoans.gov.

  • Parent and Graduate Direct PLUS Loan borrowers must complete a credit pre-approval and MPN (if you have not already completed a Direct PLUS MPN). You may access the PLUS application at StudentLoans.gov.

Verification

Students may be selected by Central Processing System (CPS) for a process called verification. If a student is selected, OLOLC is required to obtain documentation from the student verifying the accuracy of the information reported on the FAFSA. Verification must be completed before the student is offered a federal aid award.

If a student's FAFSA is selected for verification and the student is eligible for a Federal Pell Grant, verification must be completed by the earlier of 60 days from the last day of enrollment or August 30 in order to receive Federal Pell Grant proceeds. A valid Expected Family Contribution (FAFSA processed and accepted) must be received within this time limit.

Financial Aid Packaging
Federal aid packages may consist of a combination of grants, loans, and student employment. Financial aid recipients must reapply each year to be considered for aid the following year. Timely submission of the FAFSA and all information requested is required to receive the largest award possible. Total financial aid awards, including scholarships, federal aid, and other resources may not exceed the cost of attendance. Our lady of the Lake College reserves the right to reduce or rescind award packages to remain in compliance with federal, state, and/or institutional rules and regulations.


Federal Aid Programs

 

Our lady of the Lake College participates in the following Title IV programs:
 

  • Federal Pell Grant
  • Federal Supplemental Educational Opportunity Grant
  • Federal Work-Study
  • Federal Direct Stafford Loans (Subsidized and Unsubsidized)
  • Federal Direct Grad PLUS Loan
  • Federal Direct Parent PLUS Loan

Federal Pell Grant: The Federal Pell Grant is awarded, based on exceptional financial need, to undergraduate students seeking their first baccalaureate degree. Grants are not required to be repaid. Award amounts range from $555 to $5,550 per academic year, depending on the student’s EFC and number of enrolled hours.

Federal Supplemental Educational Opportunity Grant (SEOG): SEOG is awarded to Federal Pell Grant eligible undergraduate students enrolled at least half-time who demonstrate exceptional financial need. Grant awards range between $200 and $2,000.

 Federal Work-study (FWS): FWS provides part-time jobs on campus or in a community service agency. To be eligible for FWS, a student must demonstrate financial need. Students earn an hourly wage and are paid bi-weekly. A student may not earn more than the total award and may not work more than 20 hours per week during periods of enrollment.

Federal Direct Stafford Student Loans: Under the Federal Direct Stafford Loan Program, students enrolled at least half-time may borrow funds from the U.S. Department of Education. Although the FAFSA must be completed, students who do not qualify for a subsidized loan on the basis of need may receive an unsubsidized loan. The amount a student is eligible to receive depends upon the student's classification and dependency status. The subsidized loan is awarded on the basis of financial need and the student will not be charged interest before beginning repayment or during authorized periods of deferment. The federal government "subsidizes" the interest during these periods. An unsubsidized loan does not require a student to demonstrate financial need. Unsubsidized loans accrue interest from the time the loan is disbursed until they are paid in full. Students are required to begin repayment of principal and interest on Stafford Loans six months after they graduate, resign, or cease to be enrolled at least half-time. All students are required to complete an entrance and exit loan interview relative to their repayment obligations. Additional loan information may be secured from the OLOLC Office of Financial Aid.

 Federal Direct Stafford Loan Limits:  

*Practical Nursing Special Loan Limit

Dependent Certificate Program Students Subsidized  Additional Unsubsidized
First Year (29 or fewer earned credit hours)  $3,500  $2,000
Second Year (30 - or more earned credit hours)  $4,500  $2,000
 
     
Independent Certificate Program Students or Dependent Students Whose Parents Cannot Borrow a PLUS Loan Subsidized  Additional Unsubsidized  
First Year (29 or fewer earned credit hours)  $3,500  $6,000
Second Year (30 - or more earned credit hours)  $4,500  $6,000

*Undergraduate Direct Stafford Loan Limits

Dependent Students

Subsidized

 Additional unsubsidized

First Year (29 or fewer earned credit hours)

 $3,500

 $2,000

Second Year (30 - 59 earned credit hours)

 $4,500

 $2,000

Third Year & Beyond (60 or more earned credit hours)

 $5,500

 $2,000

 

 

 

 Independent Undergraduate Students and Dependent Students Whose Parents Cannot Borrow a PLUS Loan

Subsidized

 Additional unsubsidized  

First Year (29 or fewer earned credit hours)

 $3,500

 $6,000

Second Year (30 - 59 earned credit hours)

 $4,500

 $6,000

Third Year & Beyond (60 or more earned credit hours)

 $5,500

 $7,000

 

 

 

 Graduate and Professional Students

Subsidized

 Additional unsubsidized  

 

 N/A

$20,500

Aggregate Limits for Federal Direct Subsidized and Unsubsidized Stafford Loans:

Undergraduate Dependent Students: $31,000 (no more than $23,000 of which can be subsidized)
Undergraduate Independent Students
:
$57,500 (no more than $23,000 of which can be subsidized)
Graduate and Professional Students
:
$138,500 (no more than $65,500 of which can be subsidized)

Grad Direct PLUS Loans: Graduate or professional students participating in the Direct PLUS Loan Program are eligible to borrow up to their cost of attendance less other awarded financial aid. The terms and conditions applicable to Direct Parent PLUS Loans also apply to Graduate/Professional PLUS Loans. These requirements include 1) a determination that the applicant does not have an adverse credit history, 2) repayment beginning on the date of the last disbursement of the loan, and 3) a fixed interest rate of 7.9%. Applicants for the Grad Direct PLUS Loans are required to complete the Free Application for Federal Student Aid (FAFSA). Applicants must have applied for their annual loan maximum eligibility under the federal subsidized and unsubsidized Direct Stafford Loan Program, before applying for a Graduate/Professional PLUS Loan.

Federal Direct Parent PLUS Loans: The Federal Parent PLUS Loan enables parents with a good credit history to borrow to help pay the educational expenses for a dependent undergraduate student enrolled at least half-time. The maximum amount that may be borrowed is equal to the cost of education less any estimated financial aid. Parents will pay an origination fee of 4% of the loan principal. This amount will be deducted proportionately from each disbursement. Parent loan proceeds are sent to the school made co-payable to OLOLC and the parent. Upon receipt of the funds, the College will retain any tuition and fees due and refund any remaining funds to the parent. Repayment begins 60 days after the final disbursement. There is no grace period for this loan.
 

State Aid Programs

 

Louisiana Go Grant: The Louisiana Go Grant is a need-based financial aid program aimed at making college more affordable for students from moderate to low-income families. Louisiana resident students who are eligible for and receive the Federal Pell Grant may be eligible for a Go Grant. The grant helps cover the difference between the actual cost of attending a public or private college in Louisiana and the amount of a student’s Pell Grant award.


Louisiana
’s Taylor Opportunity Program for Students (TOPS): TOPS provides Louisiana high school graduates a merit-based scholarship to apply to tuition costs at most colleges and universities in Louisiana. Students are required to meet deadlines and requirements made by the Louisiana Office of Student Financial Assistance (LOSFA) in order to receive the award. A summary of the criteria for eligibility and retention of a TOPS scholarship is available on LOSFA Web site at http://www.losfa.state.la.us/. TOPS funding at OLOLC will be the weighted average tuition at comparable public schools.

Louisiana’s Taylor Opportunity Program for Students Tech (TOPS-Tech): The TOPS-Tech Award is a merit-based scholarship program for Louisiana residents pursuing skill, occupational or technical training at eligible colleges and universities offering a vocational or technical education certificates or diplomas, or nonacademic undergraduate degrees. Students are required to meet deadlines or requirements made by the Louisiana Office of Student Financial Assistance (LOSFA) in order to receive these awards. A summary of the criteria for eligibility and retention of a TOPS-Tech scholarship is available on LOSFA Web site at http://www.losfa.state.la.us/. TOPS scholarship funding at OLOLC will be the weighted average tuition at comparable public technical and vocational schools.

Vocational Rehabilitation (VR) Benefits: VR helps persons with disabilities obtain skills and other resources needed to obtain a job, maintain it, and develop a lifetime career. Students are encouraged to apply if they have a disability which causes them difficulty in preparing for, finding, or sustaining employment. Applications for services are accepted at the time an individual with a disability reaches or nears the minimum age of legal employability. To be eligible for vocational rehabilitation services, the individual must:

  • Have a physical or mental disability which, for the individual, constitutes or results in a substantial impediment to employment; and
  • Be able to benefit from the vocational rehabilitation services in terms of employment; and
  • Require vocational rehabilitation services to prepare for, enter, engage in, or retain gainful employment.

Applications for VR Benefits must be made directly with the Baton Rouge Vocational Rehabilitation Office at (225) 295-8900.

Workforce Investment Act (WIA)

WIA of 1998 created an integrated "one-stop" system of workforce investment and education services for adults, dislocated workers, and youth.

WIA benefits will be determined based on a student's financial status and degree program. WIA pays after Federal Pell Grants, FSEOG, and TOPS awards. Federal Stafford Loans are not taken into consideration. WIA will pay tuition, fees, and books up to the maximum program allowance. Funds are disbursed by the Louisiana Department of Labor to the Bursar’s Office.

In order to qualify, a student must complete the following process:

  • Make an appointment with his/her local workforce board to meet with a counselor, complete an application, and take any required tests.
  • Pick up a packet from the Bursar prior to the appointment. Please give at least four hours notice so the packet will be ready when you arrive.
  • Collect documents needed by the workforce board.
  • Meet with a representative from the workforce board.


For additional information, please contact:

Louisiana Department of Labor
LDOL Scorecard Unit
1001 North 23rd St.
Baton Rouge, LA 70804 -9094
Office: 225-219-7760
Fax: 225-219-7759
http://www.laworks.net/ 
 

Return of Title IV Funds

 

Students who need to withdraw from the College must do so officially. An official Withdrawal Form must be completed by the student and authorized officials, and presented to the Office of the Registrar. Failure to adhere to this procedure will result in the letter grade "F" for the semester and possible financial obligations to the College.

Federal regulations require schools participating in Title IV programs to use specific refund policies when a student who receives Title IV aid ceases enrollment. When an official withdrawal occurs, federal aid awards (except Federal Work-study) may be prorated as follows: the number of calendar days completed during the semester divided by the number of days in the semester. An adjustment will not be made for a student that withdraws after 60% of the semester has passed.

The amount of Title IV Funds to return to the applicable federal programs will be determined by using the date that the student initiates an official withdrawal, the last date of academic related activity, or the mid-point (unofficial withdrawal) to calculate the percentage of the enrollment period for which the student did not complete. Schedule breaks of five or more consecutive days are excluded. Our lady of the Lake College will remit the percentage of unearned Title IV Funds that were disbursed or could have been disbursed to the federal programs. The funds will be returned no more than 45 days from the official withdrawal date or, if there is no official withdrawal date, no more than 45 days from the date of determination. Our lady of the Lake College will return the lesser of the total unearned aid or an amount equal to the institutional charges multiplied by the percentage of unearned aid. The student will be responsible for repaying any remaining unearned portion that was disbursed. Students who did not receive all earned funds may request a post-withdrawal disbursement.

 If funds are released to a student because of a credit balance on the student's account and the student later withdraws, then he/she may be required to repay some of the federal aid released.

Order of Return:

  1. Unsubsidized Direct Loan
  2. Subsidized Direct Loan
  3. Direct PLUS Loan (Graduate)
  4. Direct PLUS Loan (Parent)
  5. Federal Pell Grant
  6. Federal SEOG
  7. Other Title IV Grant Funds

Unofficial Withdrawal Policy for Federal Student Aid Purposes Only
A student who stops attending class or leaves the College without following the official procedures for withdrawal from a course or resignation from the College is subject to receiving a grade of “F" posted on his/her academic record for each course in question and/or denial of permission to reenter the College.

When a student receives all F’s, U’s, I’s, WU’s, or a combination of these grades for a semester, he or she may be defined as “unofficially withdrawn" for Title IV purposes.

At the end of each term, students who have been identified as unofficially withdrawn will be notified in writing. The student will have 10 business days to document the last date of attendance, if applicable.

If the last date of attendance cannot be determined, the student is assumed to have attended 50% of the enrollment period and the Return of Title IV calculation will be based on this length of attendance. Unofficially withdrawn students will be billed for resulting institutional charges and repayments of Federal Student Aid (FSA).

Terms of Awards

 

Terms and conditions of all awards are expressed in award letters and/or on the Our lady of the Lake College website. All financial aid awards are contingent upon the student being enrolled at the College. Our lady of the Lake College reserves the right to reduce or rescind award packages to remain in compliance with federal, state, and/or institutional rules and regulations. Questions regarding award terms and conditions should be directed to the Office of Financial Aid.

 

Use of Financial Aid Funds in Payment of Fees

 

Most financial aid (scholarships, loans and grants) is disbursed at the beginning of each semester. The OLOLC Bursar applies financial aid as a direct credit to a student's account.

If a student's financial aid is reduced or eliminated due to ineligibility determined after registration, the student will be responsible for paying the financial obligation.


Credit Balances

 

All debts must be satisfied with OLOLC prior to disbursement of a refund. All refunds payable to a student or parent will be processed through the student's account. Funds that exceed tuition, fees and other authorized charges will be refunded to the student or parent in accordance with Title IV federal regulations.

Aid Disbursement Schedule

Fund Type  Date of Disbursement*
Federal Stafford and PLUS Loans First week of classes
Institutional Scholarships First week of classes
Federal Pell Grant and SEOG After the 14th class day
TOPS and Go Grants Mid-semester

Priority Dates

To ensure timely processing and consideration for programs with limited funding, a student should submit their FAFSA by the dates listed below.

March 1

 

Fall Semester/Academic Year

October 15

 

Spring Semester

March 1

 

Summer Semester

Statement of Rights

Students may review their financial aid records at any time. Financial aid records are protected in accordance with the Family Education Rights and Privacy Act (FERPA) of 1974, as amended.

Students also have the following rights:

  • Request the amendment of your records to ensure they are not inaccurate, misleading or otherwise in violation of your privacy or other rights.
  • Consent to disclose personally identifiable information contained in your records, except to the extent that FERPA authorizes disclosure without consent.
  • File with the U.S. Department of Education a complaint alleging failure by the College to comply with requirements of FERPA.
  • Obtain a copy of the FERPA policy from the Office of the Registrar.
  • Appeal any financial aid award, if special circumstances warrant review.
  • You may contact personnel in the Office of Financial Aid (225) 768-1714 with any questions.

Note: The information contained in this section is subject to change, without notice, in order to comply with federal, state, or institutional requirements.

Other Information: 

Employment Projections: Information regarding employment projections may be reviewed in the Office of Planning and Institutional Effectiveness.

Campus Security and Crime Statistics: Information regarding campus security policies and campus crime statistics is available in the Office of Campus Health and Safety. 

Completion and Graduation Rate: Information regarding completion and graduation rates is available in the Office of Planning and Institutional Effectiveness.

Drug and Alcohol Abuse Prevention:  Information concerning prevention of drug and alcohol abuse is available in the Office of Campus Health and Safety.