/ Offices/ Financial Aid/Graduate Students/Understanding Your Award Guide

Understanding Your Award

This page contains important information for graduate students about your financial aid award, such as how we determined your eligibility for financial assistance, what steps you need to take to process the aid you have been offered, and how that aid will be disbursed to you. Answers to many of your financial aid questions can be found here.

Once we have reviewed the data provided on your FAFSA and any other required documentation, we will prepare your financial aid award. The financial aid award notification gives information about the source and amount of financial aid funds that a student is eligible to receive.

Next Steps Checklist
Determining Eligibility
Statement of Rights and Responsibilities
Verification
Revisions
Aid Renewal
Student Account Information
Terms and Conditions
Sources of Assistance
External Resources
Work Opportunities
Loan Programs
Glossary

1. Next Steps Checklist

Step	Deadline
Review this guide.	Before making your admissions deposit
Calculate your estimated refund or balance due after financial aid.	Before making your admissions deposit
Complete your verification (only if required).	As soon as possible, preferably by April 15, 2024
Pay your admissions deposit.	Varies; check with your program for the deposit deadline
Accept/decline federal student loans through Financial Aid Self-Service and complete required loan processing steps on StudentAid.gov. Note: the same deadlines apply if you borrow a private education loan. Start in Summer Session 1 Start in Summer Session 2 Start in Summer Session 3 or Fall	April 15, 2024 May 20, 2024 July 1, 2024
Set up a payment plan with Nelnet if you wish to pay your bill in monthly installments. Fall Spring	Early July, 2024 Early December, 2024
Report external scholarships.	As you are notified of them

Financial Aid Timeline

2. Determining Eligibility

Financial aid assists you with the cost of an education. You don’t have to be in a low-income category to qualify for financial aid. Some students receive aid based on special achievements, while others receive aid based on their demonstrated need. Need is the difference between what it costs to attend a college and what you and your family can afford to pay.

3. Statement of Rights and Responsibilities

This page includes what rights and responsibilities a financial aid recipient has.

4. Verification

Students may be asked to provide documentation to validate information provided on the aid application through a process called verification. Students who are selected must complete the verification process to confirm their eligibility for aid. Lewis & Clark may require verification to resolve discrepant information provided in the process of applying for aid or prior to consideration of special circumstances.

If selected, a list of the items required to complete verification will be emailed to you from Graduate Admissions (incoming students) or posted in Financial Aid Self-Service (continuing students).

5. Revisions

Should the information used to determine eligibility for financial aid change, the financial aid award may be revised. A revised award notification, which supersedes any previous award notification received by the student, will then be issued. Carefully review any revised award notification to determine if additional action is necessary to secure funding. Changes in awards are subject to availability of funding. Please note that financial aid revisions can occur any time new information is provided to the Office of Financial Aid, even after funds have been disbursed. The following events are examples of situations that should be promptly reported to the Office of Financial Aid, as they may result in a financial aid award revision:

change in enrollment status
receipt of additional assistance, including external resources
verification changes
student financial changes

6. Aid Renewal

Financial aid awards are year specific and students must reapply for assistance on an annual basis. For financial aid purposes, summer is the first semester of the new academic year at Lewis & Clark. Continuing students who wish to be considered for need-based financial aid and/or federal student loans must file a FAFSA with the U.S. Department of Education at FAFSA.gov. The FAFSA becomes available on October 1 and students are encouraged to complete the application process no later than February 15 for priority consideration.
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7. Student Account Information

Estimating Costs

Use the Budget Worksheet to estimate charges and financial aid credits, and it will calculate your estimated account balance in each semester. As you complete the worksheet please note that loan origination fees will be deducted from each loan disbursement. We encourage you to complete a Budget Worksheet annually after receiving your award letter to better understand the distribution of your aid and help you plan your finances for the year ahead.

Billing

Lewis & Clark student account activity is made accessible through the Student Account Center. The Student Account Center enables you to retrieve an electronic statement (E-Bill), view live account information, make a payment, select your refund preference, and enroll in the monthly payment plan option.

Disbursing Financial Aid

Financial aid will be applied to student accounts and used to address charges incurred, such as tuition and fees. Financial aid funds cannot be applied until the appropriate paperwork has been completed and the funds are received. Loan funds are disbursed evenly among the semesters of enrollment each academic year. Students receiving scholarships should refer to their scholarship notification letter for details about how the scholarship will be disbursed. Note: Your tuition charges will vary from semester to semester depending on your course load. Plan ahead for this and budget carefully.

Credit Balance Refunds

Aid applied to a student account which exceeds the amount a student has been charged may be refunded to the student. Refunds will be processed after the first day of classes in each term and only when a credit balance actually exists on a student account. Refunds must be used to cover education-related expenses, such as off-campus living expenses, transportation, and/or books and supplies.

8. Terms and Conditions

Refer to the Financial Aid Policies webpage for details on the following policies:

withdrawal policy
release of records and information
disbursement of aid
revisions
satisfactory academic progress policy
transfer credit
unsatisfactory completion of a course
taxability of grants and scholarships
student’s right to know

Scholarships

The graduate school is committed to recruiting and retaining a diverse student body that incorporates multiple perspectives, cultures, learning styles, and ways of knowing. We offer scholarships to further this goal and assist qualifying students, both prospective and continuing, who need financial support to pursue their graduate education. Scholarships are awarded by individual departments. Full tuition scholarships are not available.

Federal TEACH Grant

The Federal TEACH Grant provides up to $4,000 per year for students intending to teach in high-need fields (math, science, bilingual education, English language acquisition, special education, reading specialist) at low-income schools. Upon accepting a Federal TEACH Grant, students incur a service obligation to teach full-time for four years in a high-need field at a low-income school within eight years of completing their program.

Graduate Assistantships

Lewis & Clark offers graduate assistant positions every year to provide students the opportunity to combine theory and practice.

Tuition Waiver Program

The Tuition Waiver Program is a benefit of employment extended to eligible Lewis & Clark employees, their dependents, and their spouses. Application for this benefit is made through Human Resources.

10. External Resources

External resources are funds awarded by an organization other than Lewis & Clark and include scholarships awarded by religious, civic, or other organizations; state and federally funded scholarships or grants not listed in this guide; or tuition benefits received from an employer. Students must notify the Office of Financial Aid of any external resource(s) they will receive in a given academic year regardless of the amount. Notification can be made by submitting a copy of the scholarship letter or using the Report/View Outside Awards section of Financial Aid Self-Service.

Inform donors to send scholarship payments directly to the Office of Financial Aid. It is institutional policy to divide scholarship funds equally between the semesters of enrollment. Scholarship donors may request a different distribution of the student’s funds by providing written instructions to the Office of Financial Aid with the scholarship payment. In most cases, receipt of external funding will result in a dollar-for-dollar decrease in the student’s Federal Direct Graduate PLUS Loan or private loan eligibility. However, in some cases it may be necessary to reduce the amount of a need-based Federal Work-Study award.

11. Work Opportunities

Most graduate students find their busy schedules incompatible with working part-time on campus. However, interested students may contact the Office of Financial Aid for information on eligibility for Federal Work-Study. The Federal Work-Study (FWS) program provides employment opportunities for students who demonstrate financial need.

12. Loan Programs

Many of our students access educational loans in combination with other aid sources and financing strategies to make a Lewis & Clark education possible. These loan programs allow students to borrow against their future earning potential, which research indicates improves with educational attainment.

Important Info on Federal Direct Loans

All first-time borrowers will be required to complete a Federal Direct Loan Master Promissory Note and Entrance Counseling to receive Federal Direct Loan funding. These steps can be completed at StudentAid.gov.

13. Glossary

Frequently used financial aid terms and definitions.