It is important to remember that the Financial Aid Office and the Student Accounts Department are two separate entities.
The Financial Aid Office assists students and their families seek out, acquire and make the best use of all resources available to help them finance the costs of attending LMU.
The Student Accounts Department is responsible for the financial administration of all student billing related to tuition, room, board, and fees.
COA versus Actual Costs
COA (Cost of Attendance): The total cost of attending a post-secondary institution for one year. The student's budget usually includes direct, billable costs such as, tuition, fees, food and, housing. It also includes indirect costs such as, books, supplies, transportation and personal expenses. Indirect costs usually will not show up on the billing statement. However, they are included to ensure students can use any potential financial aid to assist with these separate costs. Think of the Cost of Attendance as the most any particular student can receive in financial aid rather than a billing statement. Click here to view the Estimated Cost of Attendance.
Actual Costs: Based on current enrollment status, actual costs may vary for every student. Click here to view actual costs.
Billing versus Assistance to Pay Bill
Billing: All bills will display the total balance due and will not display your monthly payment amount as monthly payment plan amounts are subject to recalculation all throughout the entire month. To make a payment or enroll in a payment plan, please visit the Student Account Center.
Assistance to Pay Bill: The Financial Aid Office reviews each student’s eligibility for all types of aid to assist with the charges related to their account. Students are encouraged to apply for aid through the FAFSA each year to be considered for federal, state and institutional aid. In addition to any currently offered aid, parents can also consider the Parent PLUS loan if additional assistance is needed. Click here for more details.
Payment Plan versus Scholarships, Grants, Loans and Work Study
Payment Plan: To make a payment or enroll in a payment plan, please visit the Student Account Center. Please note, before a student can sign up for a payment plan they must be registered and have all financial aid accepted and finalized. Students who are covered in full by aid do not need to sign up for a payment plan. Students without financial aid or who are only covered partially in aid must make a payment arrangement for each semester by the set deadline. Click here to learn more.
Scholarships, Grants, Loans and Work Study: Scholarships require no repayment and are available as a result of the contributions made by many LMU benefactors who believe deeply in the value of an LMU education. Grants, like scholarships, are a great potential resource for offsetting the costs associated with attending LMU as they do not need to be repaid. Loans are another form of financial aid available and they differ from grants and scholarships primarily in that they must be repaid to a lender. To obtain Work Study, in most cases students must apply for financial aid by completing the Free Application for Federal Financial Aid (FAFSA) in order to receive an award to allow them to work on campus. This work award is considered a form of financial aid. Click here to learn more about these opportunities.