1. Financial Aid FAQ’s

2. How do I apply for financial aid (including grants, work study, and HOPE)?
To apply for most types of financial aid (Pell Grant, HOPE, Private/State Student Loans, Scholarships, Work-study, etc.) complete the Free Application for Federal Student Aid (FAFSA) at
Some students may choose to complete the GSFAPP available at but this method limits students to state aid only.

3. When to Apply?
Students should apply for Financial Aid each year. The FAFSA application is valid from July 1st through June 30 of each academic year.
Fall term is the beginning of the academic/financial aid year.
Priority dates are available on the LTC website
Spring – November 7, 2016
Summer – March 27, 2017

4. What if I apply for financial aid past the Priority Deadline?
You may become ineligible for some forms of aid.
If you apply for financial aid past the priority date deadline, your application will be processed in the order that it was received. Because of processing times, you are not guaranteed to have aid posted to your account before the payment deadline. If this occurs, please be prepared to pay your fees prior to the payment deadline and await reimbursement, if eligible.

5. What is the processing time for financial aid documents?
Once the financial aid office has received the necessary documents, processing time varies from days depending on whether the application is chosen for verification, type of aid requested, and program of study.

6. What does being selected for verification mean?
The U.S. Department of Education randomly selects 33% of FAFSA's for verification. This means the Financial Aid Office must request certain documents to verify the accuracy of the information listed on the FAFSA. You will not be eligible for aid until this process is complete.
Timely submission of requested documents generally results in faster processing times.

7. My FAFSA was selected for verification
My FAFSA was selected for verification. What documents do I need to complete the verification process?
Students are notified by the Department of Education in their Student Aid Report (SAR) if they are chosen for verification. The Financial Aid Office will also contact the student to request specific documents, such as, tax transcripts and verification worksheets. Other documentation may be required depending on the information listed on the FAFSA.
Most requested documents are available in the Financial Aid section of the school website and on your BannerWeb account.

8. What is a SAR?
The SAR is your Student Aid Report issued by Federal Student Aid. It is a copy of the report issued to the schools listed on your FAFSA.
Comments listed on the SAR indicate whether the application is chosen for verification and if items need to be addressed before financial aid eligibility can be determined.

9. Changes
Effective this year, students began submitting/renewing their FAFSA in October using prior, prior year information instead of waiting until January to use prior year information.

10. What is the IRS retrieval tool and how do I use it?
A quick and easy way to complete your FAFSA, the IRS Retrieval Tool will allow students and parents to securely transfer their income and tax information directly from the IRS and input it into the FAFSA. As you complete your FAFSA online, you will be asked a series of questions regarding your tax filing status. If you are eligible to use the IRS Data Retrieval Tool, you will enter your PIN and click Link to IRS. Your FAFSA information will be saved and you'll be linked to the IRS website. On the IRS website simply enter the required information to validate your identity. Your tax return information will be displayed and you will be given the option to transfer your tax information into your FAFSA. Once the transfer has been completed you will be taken back to FAFSA on the Web to finalize your FAFSA.
Be advised using this tool may lower a student's chances of being selected for verification.

11. How do I know what I have been awarded?
At LTC, there are two options to view what financial aid you have been awarded. Log into your BannerWeb account, choose the link Student Services, then choose Financial Aid, then choose Account Summary by Term, and finally click on the term that you want to view the aid for, and the aid will show under Authorized Financial Aid. You can also go to the “Pay Online” link on the website and it will show the aid listed there as well.

12. What is Federal Funding?
Federal Funding includes Pell Grant, Supplemental Educational Opportunity Grants (SEOG), and Work Study.
Available for Diploma and Degree seeking students and a small selection of certificate programs
Funds are need based
Federal student loans – subsidized and unsubsidized
LTC does not participate in Federal Student Loan Program

13. Federal Student Loans Never borrow more than you need
Student is responsible for repayment, not the parent
Know your lender and keep vital information updated
Subsidized – can borrow up to unmet need
USDOE pays interest while student is attending school under specified circumstances
Unsubsidized – can borrow up to cost of attendance
Student is responsible for paying interest while attending school
Nonpayment of interest results in interest accruing and being added to the principal

14. What is Work Study and how do I apply?
Federal Work Study is need based aid. Students do not have to be Pell eligible but must have an unmet need
Unmet need is calculated for every student who completes a FAFSA.
Job postings are sent through student and posted in the Financial Aid section of the LTC website.
Applications should be submitted to the Financial Aid office where eligibility will be determined and applications will be forward to the appropriate supervisors.
Students will be contacted by interested supervisors for interviews.

15. What is State Funding? State Funding includes the following:
HOPE Scholarship
HOPE Grant
Zell Scholarship
Zell Grant
Strategic Industries Workforce Development Grant (SIWDG)
SAL/SALT Loan

16. What’s the difference between the State Grant and State Scholarship?
Grants are available for TCC’s and diplomas
Students may receive up to 63 hours
Scholarship is available for associate degrees
Students may receive up to 127 hours for combined grant/scholarship
Students must maintain a 3.0 HOPE GPA at every tier (30 hr checkpoint)

17. What’s the difference between HOPE and Zell?
Both Zell Grant and Zell Scholarship requires students to maintain a minimum 3.5 HOPE GPA at various checkpoints
Grant – each term
Scholarship – each tier (every 30 hours)
Student must have graduated high school as a Zell Scholar
Regulations are available at

18. Will withdrawing from a course or courses affect my Financial Aid?
Students are encouraged to check with your financial aid advisor prior to withdrawing from classes.
Withdrawals during the drop/add period may change financial aid award amounts.
Withdrawals after the drop/add period will affect completion rate.
Students are required to maintain a 66.6% completion rate in order to continuing receiving financial aid.
Separate policy from academic probation
Review Satisfactory Progress for Financial Aid in the Student Catalog.

19. Student Responsibility
Get comfortable with BannerWeb
Important information regarding registration, fee payment and most importantly your financial aid status
You can check if you have requirements needed by the financial aid office before your financial aid can be disbursed
You can also check your academic and financial aid standing
You can view what you have been awarded and when your financial aid will be disbursed
Student account
Main channel of communication with students
Monitor this account regularly for important notifications from the College. Notifications can include information such as student account balance, registration dates, Financial Aid deadlines and payment information, etc.

20. Other Opportunities?
If you are not eligible for State or Federal funding or your financial aid does not cover all of your tuition, fees and books:
SAL – Student Access Loan - USG schools
SALT – Student Access Loan-Technical – TCSG schools
Can be discharged if student graduates from program of study for which the SAL was received with a Postsecondary Cumulative GPA of 3.5 and submits the appropriate documentation to GSFC
Private Loan – information is located on our website:
click on Financial Aid, Types of Aid Available, and then Private Loans for information
LTC does not participate in the Federal Student Loan programs
Payment plan – information regarding the Nelnet payment plan is on LTC website
Foundation Office – LTC Scholarships

21. Additional Questions?