Your education is one of the most important investments you will ever make. Our goal is to provide a comprehensive system of financial services and help you become an informed borrower and student.
To determine your eligibility for financial aid, you must first complete the Free Application for Federal Student Aid (FAFSA). By completing the FAFSA, you will be applying for all Federal- and State-based financial aid programs at Lincoln Memorial University. You should submit the FAFSA no earlier than October 1, but no later than April 1 for priority consideration.
Lincoln Memorial University’s FAFSA code is: 003502.
Within four weeks after your FAFSA is submitted, the U.S. Department of Education will send a Student Aid Report (SAR). Once you have accepted an offer of admission, LMU can then “package your award” to determine how much you are eligible to receive. Awards are calculated based on the information contained on your FAFSA. If your information or enrollment status changes, your financial aid award package may change. Also, if any other aid or scholarships are awarded to you from outside sources, your award package may change. We cannot access your account until your acceptance has been received by the law school’s Office of Admissions.
Once packaged, you will receive an email notification with instructions on how to view and accept your financial aid awards through “MyLMU.” MyLMU is an online portal to access your student account. Once logged in, your account information will be accessible through WebAdvisor. Email notifications will be sent to your LMU email account when awards are processed or revisions are made.
In order to accept William D. Ford Federal Direct Subsidized/Unsubsidized Loans at Lincoln Memorial University, you must be enrolled a minimum of six (6) credit hours for any given semester. In addition, you must complete both Entrance Counseling and a Master Promissory Note (MPN) through the U.S. Department of Education’s website.
Effective in the 2012-2013 academic year, subsidized loans are no longer available for students enrolled in any graduate or professional program. While students can still borrow the same annual amount, $20,500, the Federal Direct Unsubsidized Loan is the only option for graduate or professional program students.
Federal Direct Unsubsidized Loans are available to students who do not qualify for a subsidized loan or for students who qualify for less than the annual loan limit. The U.S. Department of Education does not pay the interest on an unsubsidized loan. You, the borrower, are responsible for all interest during the life of the loan.
Federal Direct Graduate PLUS Loans are low interest unsubsidized loans available to assist graduate students admitted and enrolled in graduate programs who have exhausted their Federal Direct Loan eligibility. To be eligible for a Federal Direct Graduate PLUS Loan, the borrower should have no adverse credit history. The first payment is due within 60 days of your anticipated final disbursement for the award year; however, deferred or reduced payment options may be available.
If you wish to reduce the loan amount that has been offered to you in your financial aid award package, you will need to complete a Loan Request Form and submit it to the Office of Financial Aid.
If you have an unusual financial situation that has occurred since you filed your Free Application for Federal Student Aid (FAFSA), please complete the appropriate Professional Judgment Appeal form and return it to the Financial Aid Office as soon as possible.
Withdrawal Policy & Title IV Repayment Policy
Students who withdraw, or who cease to attend prior to the 60% point of the term shall be subject to the Federal Return to Title IV policy. This policy, as established by the Federal Government, applies to federal funds only. Institutional funds are subject to the institution’s credit/refund schedule for that term.
Official withdrawals shall be processed thru the Return to Title IV Funds worksheet located on the FAA Access website. This worksheet calculates the percentage of aid earned based on the withdrawal date. If the calculation determines that funds must be returned, the school will initiate that process. The amount of funds returned for the student from their tuition and institutional charges is an obligation the student will owe the university. Counseling will be done with the student regarding any funds that are pending disbursement or returned to the government.
Students who did not officially withdraw and have earned all F’s or Incompletes are considered to be Unofficial Withdrawals. These students must prove class attendance beyond the 60% point of the term. If this proof is not available, their aid earned will be calculated thru the Return to Title IV Funds worksheet located on the FAA Access website. This calculation will be done at the 50% point of the term as directed by federal requirements. The amount of funds returned for the student from their tuition and institutional charges is an obligation the student will owe the university. Counseling will be done with the student regarding any funds that are pending disbursement or returned to the government.
To inquire about or apply for summer aid, please contact the Financial Aid Office.