Financial Aid

Financial Aid Office

1801 College Drive N.
Devils Lake, ND 58301

Office Hours
Monday - Friday
7:45 AM - 4:45 PM

Financial aid helps cover college costs through grants, low-interest loans, and work-study programs from the federal government, state programs, or the college.

Lake Region State College is a Title IV institution, allowing students to access federal loans, grants, and work-study. Title IV schools must be state-authorized to offer postsecondary degrees. Many private loan and refinancing companies also require enrollment at a Title IV institution.

LRSC Title IV code: 002991

Financial Aid Facts

How does financial aid work?

You don’t necessarily have to be in a low-income category to qualify for financial aid. Some students receive aid based on special achievements while others receive aid based on financial need. The need is the difference between what it costs to attend college and what a student and family are expected to contribute.

Educational cost - Student Aid Index = Eligibility for need-based financial aid

Student Aid Index (SAI)

The FAFSA Simplification Act replaced the Expected Family Contribution (EFC) with the SAI for 2024-2025. The Student Aid Index (SAI) is an eligibility index number that the financial aid office uses to determine how much federal student aid you will receive. This number results from the information that you provide on your FAFSA® form. This number is not a dollar amount of aid eligibility or what your family is expected to provide. A negative SAI indicates the student has a higher financial need.

General Eligibility Requirements

To receive federal, state, or LRSC-sponsored aid, a student must be pursuing a degree or certificate in an eligible program. Federal regulations restrict awarding aid for repeated classes, and most federal aid requires at least half-time enrollment. Other eligibility requirements include:

Demonstrate financial need for most programs
Have a high school diploma or a General Education Development (GED) certificate
Have a valid Social Security Number
Certify that you are not in default on a federal student loan and do not owe money on a federal student grant
Certify that you will use federal student aid only for educational purposes

Citizenship

To receive federal and/or state financial aid, a student must be a U.S. citizen, permanent resident, or eligible non-citizen or non-resident, as determined by federal and state regulations.

Enrollment

In order to receive federal, state, or LRSC-sponsored aid, a student must be working towards a degree or certificate in an eligible program, with at least half-time active enrollment.

Full-time: 12 credits or more
Three-quarters time: 9-11 credits
Half-time: 6-8 credits
Less than half-time: 1-5 credits

Satisfactory Progress

A student must maintain satisfactory progress with LRSC to be eligible for financial aid.

For more information about student aid, go to www.studentaid.gov.