Applying for Financial Aid

Basic Federal Financial Aid Eligibility:

As a first-time or continuing student, general eligibility requirements for Federal Student Aid, as determined by the Department of Education, state you must:

• Demonstrate financial need (for most programs)
• Be a U.S. citizen or an eligible noncitizen
• Have a valid Social Security number (except for students from the Republic of the Marshall Islands, Federated States of Micronesia, or the Republic of Palau)
• Your registration status with Selective Service no longer affects your eligibility to receive federal student aid. For general information about registering, call Selective Service toll-free at 1-888-655-1825 or visit sss.gov)
• Be enrolled or accepted for enrollment as a regular student in an eligible degree program
• Be enrolled at least halftime to be eligible for Direct Loan Program funds
• Maintain satisfactory academic progress
• Sign the certification statement on the Free Application for Federal Student Aid (FAFSA) stating that:
  1. You are not in default on a federal student loan and do not owe money on a federal student grant and
  2. You will use federal student aid only for educational purposes and related expenses
• Show you are qualified to obtain a college education by:
  1. Having a high school diploma or a recognized equivalent such as a General Educational Development (GED) certificate
  2. Completing a high school education in a homeschool setting approved under state law

Federal regulations require that students only receive federal financial aid (Federal Pell Grant, Federal Supplemental Educational Grant, Federal Direct Loans) for courses that count towards their degree/certificate. Students must be enrolled in a financial aid eligible degree or certificate program and taking classes included in that program.

Important FAFSA Dates:

• The 2024-2025 FAFSA is available for filing on or after October 1, 2022.
• The deadline for filing the 2024-2025 FAFSA is midnight, CT, June 30, 2024.
• 2024-2025 FAFSA will award eligible financial aid July 1, 2024, to June 30, 2025.
• For the 2024-2025 FAFSA, please use tax records from 2022 if applicable.

Before you begin:

You will need to Create a New FSA ID if one does not exist.  Each student and one parent (for Dependent students) will need to have an active FSA ID to complete and sign the FAFSA.

You may also need the following information on hand when completing the FAFSA:

• Lakewood University’s Federal School Code: 042939
• Your Social Security number and your driver’s license (if applicable)
• W2 forms and other records of money earned (some 1099 forms)
• Your (and/or your parents’) Federal Income Tax Return
• Any untaxed income records including payments to tax-deferred pension and savings plans, tax-exempt interest, and child support received for the calendar year
• Records of any grants, scholarships, and/or fellowship aid that was included in your or your parents’ adjusted gross income (AGI)
• Any current bank statements
• Any current business and investment mortgage information, business and farm records, stock, bonds, and other investment records
• Documentation that you are a permanent resident or other eligible noncitizens if applicable

Completing the Free Application for Federal Student Aid (FAFSA):

Visit www.fafsa.ed.gov  to complete the Free Application for Federal Student Aid.  This application should be completed each year.  See the FAFSA website to confirm the tax year you should be using to complete the application. For helpful tips on completing the FAFSA please visit www.studentaid.gov.

You can also watch this short video:

Helpful Resource:

After your FAFSA is Submitted