Financial Aid FAQ

What do I need to do now that I’ve received a financial aid award?

The financial aid award notification simply informs a student of the assistance being offered. Some forms of assistance do require students to take additional steps to accept or secure the funding. If the award notification indicates that verification is required, students must submit the required documents before any further processing of financial aid will occur. Information about the steps for securing aid can be found on the Securing Financial Aid Offered site. It is important that all steps for securing aid be completed no later than August 1.

What is verification?

Verification is a process that allows financial aid staff to validate that the information provided on an aid application is accurate and confirm a student’s eligibility for need-based aid. At Lewis & Clark, aid application information for all entering students is verified while verification for continuing students is typically limited to only those selected for verification by the federal processor. Financial aid awards for entering students will be processed without the receipt of verification documents but will be considered estimated until the verification process is complete. Continuing students who are selected for verification by the federal processor are required to submit verification documents before an award will be processed. More information about verification can be found in the Verification section of this web site.

I received a larger scholarship and/or grant from another school. Can Lewis & Clark increase the amount of my scholarship and/or grant aid?

The amount of Lewis & Clark grant or scholarship listed on the financial aid award notification is the maximum amount that can be offered based on the information provided in your application and the availability of funding from the College. The College does not change or negotiate awards based on comparisons with other colleges. Family emergencies such as involuntary job loss, significant unanticipated medical expenses or the loss of a parent may necessitate review of the financial aid award through the appeal process. Due to the extraordinary demand for assistance, appeals are considered only when significant and unexpected circumstances are documented by the family.

My family has special financial circumstances that weren’t reflected on the aid application but will affect my family’s ability to pay for college. How do I communicate these special circumstances to Student Financial Services?

If any information submitted on a financial aid application needs further explanation, please review the information on the Responding to Changes section of the web site. Typically, a written explanation of the situation and/or income tax returns will need to be sent directly to Student Financial Services. Keep in mind that, due to limited institutional and federal resources, an adjustment to financial information does not always result in additional financial aid. In general, adjustment consideration is made only in extraordinary circumstances such as the involuntary loss of employment, significant unanticipated medical expenses, loss of a parent, or divorce/separation of parents after application filing. We do not consider circumstances such as voluntary job separation or retirement, private school tuition for siblings or personal consumer debt.

Are there any other resources I can access to help pay for my education?

If a student or parent is in need of additional funds to address educational costs, there are a number of options to consider.

Lewis & Clark offers a monthly payment plan through Tuition Management Systems (TMS). Please visit the Student Accounts web site for more information.

The Federal Parent Loan for Undergraduate Students (PLUS) is an option that a number of families utilize to address the educational costs not covered by other resources. The Federal PLUS Loan allows credit-worthy parents of undergraduate students to borrow the difference between the cost of attendance and the financial assistance that the student will receive. Please see the Federal PLUS Loan page for more information on this program.

Another option to consider is a private education loan. Private loans are credit-qualified loans can be used to cover educational expenses not already covered by federal student loans or any other source of aid. Refer to the Private Loans page for additional information on this program.

Scholarship support from external resources is another option for addressing the cost of higher education. Students may research, identify and apply for support of this nature. Click here for guidance on this topic.

How does Lewis & Clark determine my family’s financial need and expected financial contribution to my education?

Lewis & Clark uses a need analysis formula known as Institutional Methodology, developed by the College Scholarship Service (CSS) of the College Board, to measure the ability of a family to meet the costs associated with enrollment at Lewis & Clark and determine eligibility for College aid programs. In determining the EFC, consideration is given to data provided on the PROFILE such as family financial information, including income and asset strength, as well as family size and the number of siblings enrolled as undergraduate students. Eligibility for federal student aid such as federal grant, loan and work-study programs is determined using the EFC calculated by applying the Federal Methodology need analysis formula to information provided on the Free Application for Federal Student Aid (FAFSA). It is important to note that the EFC used for determining federal aid eligibility can vary significantly from the EFC used to determine eligibility for College resources because of the different need analysis formulas and varied information gathered on the PROFILE and FAFSA.

Note: Completion of the PROFILE for consideration of College need-based aid is a requirement of students entering the College in fall 2008 or beyond.

Do you meet the full demonstrated need of each student?

While the College endeavors to offer financial assistance to meet the full demonstrated need of students, limited resources do not always allow this to happen. In instances where we are unable to fully meet a student’s demonstrated need, families may need to pay more than the calculated EFC in order to address the costs associated with enrollment at Lewis & Clark.

If I’m awarded a scholarship from my community, where does this fit in the process? Do I need to tell you about this award?

As part of the process of finalizing eligibility for financial aid, students must inform Student Financial Services about assistance that will be received from sources other than Lewis & Clark College. This type of assistance is commonly referred to as external resources and the treatment of such funding in determining eligibility for financial aid at Lewis & Clark is addressed on the Grants & Scholarships page under External Resources.

How will my financial aid be applied to my charges each semester? Can I use financial aid to purchase books?

Financial aid is applied directly to the student account with the Student Accounts Office to address charges incurred, such as tuition and fees, and room and board (if you reside on-campus). Financial aid cannot be applied to the student account until all of the required action steps to secure the aid have been completed and the funds have actually been received at the College.

Aid applied to a student account that exceeds the amount of charges incurred will create a credit balance that may be refunded to the student. Refunds are processed after the first day of classes in each semester and only when a credit actually exists on a student account. With this in mind, it is important to arrive at the College each semester with sufficient funding to purchase books or address initial expenses associated with living off-campus.

Review the Estimating College Costs worksheet to determine the resources needed to address educational costs for the year.