GRADUATE SCHOOL FINANCIAL AID

The decision to invest in a high quality graduate education may be one of the most important decisions you will make. Lewis & Clark College recognizes the challenge many students face in meeting the costs associated with a quality education. We are committed to working in partnership with students to develop financial options and strategies that will make a graduate degree from Lewis & Clark College an attainable goal.

Applying for Aid
Licensure Only and Special Students
Sample Aid Awards
Student Loans
Loan Forgiveness Provisions
Teacher Education Scholarships

APPLYING FOR AID

Incoming Master's and Doctoral Degree Students:

1. Apply for admission to the graduate program of your choice. Only students who are admitted to the College will be offered financial aid.
2. File the FAFSA on-line at http://www.fafsa. ed.gov by March 1 for priority aid consideration. Be sure to list Lewis & Clark College, Portland, Oregon as one of the schools to receive your FAFSA analysis. The Federal School Code for Lewis & Clark is 003197. If you are applying for aid for the 2007 spring semester, you must file the 2006/2007 FAFSA. If you are applying for aid in the summer of 2007, fall 2007 or spring 2008 semesters, you must file the 2007-2008 FAFSA (available January 1, 2007).
3. Students enrolled in an In-Service degree program will be asked to complete an academic plan (available on forms web page).

Continuing Master's and Doctoral Degree Students:

1. File your FAFSA on-line at http://www.fafsa. ed.gov by March 1 for priority aid consideration. For aid in the summer 2007, fall 2007 and/or spring 2008 semesters, you must file the 2007/2008 FAFSA. The Federal School Code for Lewis & Clark College is 003197.
2. Complete and submit the College Aid Application.
3. If your FAFSA is selected for verification, you must submit the requested documents before a financial aid award can be prepared for you.
4. Students enrolled in an In-Service degree program will be asked to complete an academic plan (available on forms web page).

IMPORTANT: If you miss the priority deadline of March 1, you can still apply for financial assistance. Complete the application materials as soon as possible. Late applications will be reviewed in the order they were received and offered aid based on funding availability.

Licensure Only and Special Students:

1. Apply for admission to the program of your choice. Only students admitted to the College will be offered financial aid.
2. Complete an academic plan (available on the forms web page).
3. Continuing students need to complete and submit College Aid Application.
4. Please note that Licensure only and Special Students are not eligible to borrow federal student loans and may borrow only certain private student loans.

After the forms are filed

Once you are admitted to the College and we receive your FAFSA information, we will review your application for financial aid. If we request additional information from you at this time, please provide it as soon as possible so that we may continue evaluating your aid application.

Take a look at some sample financial aid awards.

After we have prepared your financial aid award, it will be mailed out to you. You will be asked to review the Financial Aid Guide that accompanies the Award Notification, and follow the steps outlined to request your student loans.

Once you have paid your enrollment deposit and have requested your student loans, we can process your Federal student loan request. Note that the Financial Aid Guide will instruct you to apply for your private student loan on-line with the selected lender. Before federal student loan funds may be disbursed, first-time borrowers at Lewis & Clark will need to complete a Master Promissory Note with your lender and an on-line Entrance Interview.

STUDENT LOAN PROGRAMS

NOTE: Federal student loans are available only to students enrolled in a Master's Degree program. Students enrolled as licensure only or special students may borrow only certain private student loans.

Federal Perkins Loan

Federal Perkins loans are awarded to students who demonstrate exceptional financial need and have already exhausted their Federal Stafford Loan eligibility for the academic year. Federal Perkins loans carry a 5% fixed interest rate. Repayment begins nine months after the student graduates or drops below half-time attendance and continues up to 10 years. Students who are awarded a Federal Perkins loan will be required to complete a promissory note before loan funds can be disbursed.

Federal Stafford Loan

Federal Stafford Loans are part of the Federal Family Educational Loan Program (FFELP) and are available to students regardless of demonstrated financial need. Loans in this program carry a fixed interest rate at 6.8%.Subsidized loans, awarded to students who demonstrate financial need, do not accrue interest during the periods of at least half-time enrollment. Unsubsidized loans accrue interest beginning at the time the loan is disbursed. Interest may be paid during periods of enrollment or may be capitalized and added to the principal amount of the loan when the loan enters repayment.

Repayment begins six months after a student graduates or drops below the half-time enrollment and continues for 10 years. Extended repayment options are available. The maximum Federal Stafford Loan for an academic year is $18,500, a maximum of $8,500 of which may be subsidized. Loan processing fees of 3% are usually deducted from loan proceeds prior to disbursement.

Student Loan Cancellation Programs for Teachers

Private Alternative Education Loans

Private alternative loans can be used to cover educational expenses not already covered by the Federal Loans or any other source of aid. Approval is based on individual creditworthiness. Students who do not meet a bank's credit qualifications may need to apply with a credit-worthy co-signer. Interest rates, grace periods, repayment options and fees are determined by the lender and vary considerably from lender to lender. Please refer to the Private Loan Comparison Chart for Degree students or the Private Loan Comparison Chart for Licensure only and Special students on the private loan web page for information on our recommended Private loans.

Because these loans are approved by lenders based on your credit history, we strongly encourage you to review your credit report prior to applying. The following companies can provide you with a copy of your credit report for a fee:

OTHER AID PROGRAMS

Federal Work-Study

Degree-seeking graduate students who demonstrate sufficient financial need may request Federal Work-Study funding. If awarded Federal Work-Study, they may apply for open positions on or off campus posted through the Student Financial Services Office. Pay rates for FWS jobs vary from $7.80 to $8.00 per hour. Please note, however, that most graduate students find that these jobs do not fit well with their course of study and some graduate departments discourage students from pursing FWS positions. For this reason, we may require you to get approval from your department before offering you Federal Work-Study funding.

Teacher Education Scholarships

There are several scholarship options available to students enrolled in the Pre-Service MAT program. Click here for further information.

External Scholarships

We encourage students to pursue external scholarships to help pay for their graduate education. While most external funding comes from employers, many students locate scholarships by doing free, web-based scholarship searches.

Click here for more information on searching for external scholarships.

Satisfactory Academic Progress Policy (pdf)

Students are required to maintain Satisfactory Academic Progress and remain in good academic standing to be eligible for financial aid. Satisfactory Academic Progress has three components:

• Student must complete the required number of credits each academic year (summer through spring).
• Complete their program within the prescribed number of semesters.
• Maintain a minimum cumulative GPA of 2.0.

Failure to maintain Satisfactory Academic Progress will result in the suspension on your financial aid eligibility.

WITHDRAWAL POLICY

Students who completely withdraw from all classes after the start of the semester, may be eligible for a recalculation of College charges in accordance with the applicable College refund policy. Students must initiate an official withdrawal by contacting the Graduate Registrar's Office. A calculation will be done to determine how much federal aid you are eligible to keep to apply toward your College charges. Students who are considering a withdrawal from the College are strongly encouraged to meet with a counselor in the Student Financial Services Office to discuss the financial aid implications.