General Eligibility for Financial Aid
Federal Verification
Maintaining Satisfactory Academic Progress
Leave of Absence and Withdrawals
LMU Non-Discrimination Policy
General Eligibility for Financial Aid
To receive financial aid administered through the Financial Aid Office, you must:
1. Be admitted to a degree seeking program at Loyola Marymount University. Students working towards a second Bachelor’s degree are only eligible for the Federal Subsidized and Unsubsidized Stafford loan programs.
2. Decide if you would like to apply for financial aid at LMU or from your other institution if you are attending another college, university, vocational or other school. Federal rules permit students to receive financial aid from only one school at a time.
3. Be a citizen, permanent resident of the United States or other eligible non-citizen as detailed in the Free Application for Federal Student Aid (FAFSA) instructions for federal state and university funded financial aid programs. Limited scholarships and assistantships are available for international students.
4. Maintain satisfactory academic progress (SAP) according to SAP policy for financial aid recipients.
5. Be in compliance with Selective Service Registration to receive federal funded student aid.
6. Have received a high school diploma or a General Education Development (GED) certificate, or you must pass an independently administered test approved by the U.S. Department of Education, or meet other state standards approved by the U.S. Department of Education. All freshmen are required to submit a final transcript verifying receipt of high school degree. Transfer students must self-certify that they have received a high school degree on the Free Application for Federal Student Aid (FAFSA).
7. Be enrolled full-time for most forms of university funded financial aid.
8. Be enrolled at least half-time for federal and stated funded financial aid programs. Students who enroll less than half-time are generally only eligible for the Federal Pell Grant.
9. Not owe a refund to any federal grant or loan or be in default on any federal loan.
10. Be enrolled for coursework at LMU although certain financial aid is available for study abroad.
For more information on academic requirements, review the current Undergraduate Bulletin.
Federal Verification
Verification is LMU’s process of checking the accuracy of the information submitted on your Free Application for Federal Student Aid (FAFSA). During the verification process, the LMU Financial Aid Office is required to collect copies of certain documents used to complete the student’s FAFSA. Such documents may include a completed Federal Verification Worksheet, signed copies of the student’s and parents’ most recent federal tax returns, and copies of all W-2 forms.
If the information submitted conflicts with the information reported on the FAFSA, LMU is obligated to make corrections to the student’s FAFSA before financial aid eligibility can be accurately determined and funds awarded.
LMU and all schools that award and disburse federal Title IV funds are required to adhere to this verification process. Some students may be selected for verification.
Most financial aid applications are randomly selected for verification by the U.S. Department of Education’s Federal Processor. However, there are several other possibilities for being selected for verification:
- The submitted FAFSA application had incomplete data.
- The data on the FAFSA application appears to have contradicting data.
- The FAFSA application has estimated information.
- If there is an asterisk next to the EFC figure on the Student Aid Report (SAR), then the student’s SAR has been selected for verification.
What needs to be done when a student is selected for verification?
If selected for verification, the LMU Financial Aid Office will inform the student of the documents needed for submission. These documents will consist of:
- A Federal Verification Worksheet (dependent or independent)
- Signed copy of student’s federal tax forms including all schedules and W-2 forms
- Signed copy parents' federal tax forms including all schedules and W-2 forms (dependent students only)
- Additional documentation may be required in certain verification cases such as proof of citizenship, proof of registration with Selective Service, and copies of Social Security benefit statements.
- Submit all of these documents within thirty calendar days of the request date or by the last day of the current academic term, whichever comes first.
NOTE: Financial aid funds cannot be disbursed until all of requested documents are received and the accuracy of the student’s information has been checked. If the student refuses to submit the required documentation, they will not be eligible to receive any forms of federal financial aid, and most forms of school-based aid such as an LMU Grant.
What happens if there are discrepancies between the data on the FASFA and my verification documents?
After all required documents are turned in, the Financial Aid Office will compare them with the Student Aid Report. If any discrepancies are uncovered during verification, the financial aid office may require additional information to clear up the discrepancies. However, such discrepancies may be significant enough to cause the financial aid package to be different from the initial package received from the school.
If adjustments to the financial aid award package are required, the LMU Financial Aid Office will notify the student electronically.
Review of documents submitted for verification usually takes two to three weeks, but it can take longer during the peak season. Because verification must be completed in advance of disbursing any money from any financial aid program, it is vital to send complete and correct information as quickly as possible. Above all else, don't be upset because if selected for verification. This is a process that is required by the federal government. The Financial Aid Office may even discover errors in the report that could actually increase your eligibility for more aid.
Maintaining Satisfactory Academic Progress
Satisfactory Academic Progress (SAP) must be maintained by all LMU undergraduate students receiving financial aid. Undergraduate students must maintain a minimum grade point average (2.0) and complete a minimum number of units each term. Academic scholarship recipients are required to maintain the minimum grade point average stated in their academic scholarship award letter.
Satisfactory Academic Progress (SAP) and Financial Aid Probation
Financial Aid probation is separate and distinct from the University’s definition of academic probation. Financial aid recipients must complete a minimum number of semester hours in their undergraduate program each academic year (Fall semester, Spring semester and Summer sessions) and maintain a 2.0 (C) cumulative and semester grade point average.
Grades of F, NC, AU, and W do not count towards maintaining financial aid eligibility. Grades of I or IP temporarily will not be counted until the final grade is posted.
Semester hours for repeat coursework do not count towards the minimum semester hours required for Satisfactory Academic Progress (SAP).
Students who withdraw from all coursework or take a leave of absence and later enroll in a subsequent term retain the SAP status held during their last term of enrollment.
Students must complete their degree within 150% of the published credit hours required to graduate. For example, an undergraduate student in a program requiring 120 units to complete must meet all graduation requirements by 180 units.
Students failing to meet these requirements are placed on financial aid probation. Students placed on financial aid probation may continue to receive financial aid for which they are eligible for up to two (2) consecutive semesters, if not academically disqualified during this period.
If a student does not complete the required semester hours and/or raise his/her cumulative and/or semester grade point average, she or he is denied further financial aid and must appeal to be considered. Financial Aid Satisfactory Academic Progress (SAP) appeals are reviewed in consultation with the student’s dean or program director.
Leave of Absence and Withdrawals
Once a student decides to take a leave of absence or withdraw, they are required to notify the Registrar’s Office. The withdrawal date will be determined as the earliest date that LMU is aware of when the student stopped attending all classes. If at all possible, students are advised to determine how tuition and other charges will be adjusted prior to withdrawal or taking a leave of absence as well as how financial aid awards will be adjusted.
Adjustment to Charges
Tuition
A percentage tuition charges are refunded based on the date of the leave or withdrawal. Loyola Marymount University’s refund policy is published on the Controller’s Office Website on the Student Accounts page along with the percentage of tuition that will be refunded by date for each term.
LMU Housing
Housing charges are prorated upon leave of absence or withdrawal depending on when the student leaves student's housing. Contact Housing at 310-338-2963 to determine how your housing charges will be adjusted.
Meal Plans and Fees
Meal plans and fees charged are non-refundable.
Adjustment to Financial Aid Awards
Federal Funds
Financial aid programs created by the federal government are called ‘‘Title IV Funds’’ and include the Pell grant, Supplemental (SEOG) grant, Academic Competitiveness Grant, National SMART Grant, TEACH Grant, Perkins Loan, Stafford Loan, and Parent (PLUS) Loan.
Title IV funds are awarded with the understanding that the student will attend school for the entire period for which the assistance was offered. However, should a student need to take a leave of absence or withdraw*, they may no longer be eligible for the full amount of Title IV funds awarded in the Award Letter.
Federal law requires that the Financial Aid Office determine at what point Title IV funds will cease to be made available once the student's enrollment has ended, and any unearned funds will be returned to the federal financial aid program. There is no relationship between this process and how LMU determines what will be charged when the student takes a leave of absence or withdraw.
The federal government provides financial aid offices with a schedule that is used to determine how much of Title IV funds a student has earned if deciding to take a leave of absence or withdraw.
The federal government requires that refunds be returned in the following order:
1. Unsubsidized Federal Stafford Loans
2. Subsidized Federal Stafford Loans
3. Perkins Loans
4. Federal Parent (PLUS) Loans
5. Federal Pell Grants
6. Academic Competitiveness Grant
7. National SMART Grant
8. Federal Supplemental Educational Opportunity Grants (SEOG).
9. TEACH Grant.
LMU, State, and Private Funds
We determine how much LMU-funded financial aid a student has earned in accordance with Loyola Marymount University's refund policy as published on the Controller's Office website on the Student Accounts page.
Cal Grants
Cal Grant policies state that if a student is charged tuition that meets or exceeds the Cal Grant award, the cal grant does not need to be adjusted based on a withdrawal of leave of absence. However, cal grant recipients may want to rescind their Cal Grant and notify the California Student Aid Commission of their leave or withdrawal in order to preserve their eligibility for a future term. In this case, the student would be responsible for covering the tuition balance on their student account.