The 2024-2025 FAFSA is now available.

Access application here.

Learn what's new.
 

8 Easy Steps to Apply for Financial Aid

1. File the Free Application for Federal Student Aid (FAFSA)
School Code: 002991

www.studentaid.gov

A student and parent can take steps to make the process easier. Complete your Federal Tax returns before completing the FAFSA. Use the IRS Data Retrieval Tool. This tool allows students and parents to access the IRS tax return information needed to complete the Free Application for Federal Students. This information is generally available 2-3 weeks after taxes have been filed electronically.

October 1st -- To be considered for federal financial aid (grants, loans, or work-study), students can complete the FAFSA. The FAFSA becomes available on October 1st for the next school year.

Early Spring -- Priority funding for Supplemental Grant, Perkins Loan, Work-Study, and the North Dakota State Incentive grant.

2 Weeks -- Allow at least 2 weeks for processing the electronic FAFSA.

2. Complete the Lake Region State College Application for Admission

Students must be accepted for admission as regular students seeking a degree in an eligible program to be eligible for federal financial aid. Students must apply for and be admitted to Lake Region State College before financial aid can be disbursed.

3. Check your FAFSA Submission Summary for Accuracy

After your 2024–25 FAFSA form is submitted and processed, you’ll receive an email with instructions on how to access an online copy of your FAFSA Submission Summary—an electronic or paper document that summarizes the information you reported on your FAFSA form. It includes your estimated eligibility for a Federal Pell Grant and federal student loans, your Student Aid Index (SAI), and whether you’ve been selected for verification. The FAFSA Submission Summary replaces the Student Aid Report for the 2024–25 award year.

4. Verification

If selected for verification, the Financial Aid Office at Lake Region State College will request documentation to satisfy verification requirements such as:

• Copy of your IRS tax return transcript:

  • Order online

  • Go to your local IRS office

• Click here for Verification worksheets found under Forms < Financial Aid Forms

  • Independent Verification Worksheet

  • Dependent Verification Worksheet

  • Many students assume that because they are not living with their parents, are responsible for their own expenses, and are not claimed on their parent's income tax returns then they should qualify for financial aid programs as independent students. The Federal Government has established guidelines that determine which students are considered independent for financial aid purposes and which are not. We recommend that you read this document to see who qualifies.

• You should read Lake Region State College's Verification Policy found under Financial Aid Policies.

5. Financial Aid Offer Notice

First-year freshman will receive a paper offer notice from LRSC detailing the amounts and types of financial aid the college is offering. Offers will be made on a rolling basis as Financial Aid Applications are received throughout the year. (Due to the delays of the FAFSA, offer notices will be sent in late June). 

• You can accept your offer using Campus Connection

  • In Student Center under Finances click on Accept/Decline Awards

• You can complete, sign, and return the offer notice to the LRSC Financial Aid office or

• Read more information -- Offer Notice Supplement 2024-2025

6. Master Promissory Note

Students accepting a Federal Direct Loan for the first time must complete a Master Promissory Note. 

7. Loan Counseling

If you are receiving a Federal Direct Loan for the 1st time, you MUST complete Loan Entrance Counseling before the 1st disbursement. Complete Loan Counseling here. 

8. Financial Aid Disbursement

Financial Aid is disbursed during Tuition and Fee Payment which usually occurs during the 3rd week of class.  Check the academic calendar for specific dates. Financial aid disbursement is based on the student’s enrollment status as of the 10th calendar day of each semester. Students must be registered in all classes, in all sessions, and in terms for the semester before that date so financial aid eligibility can be accurately calculated. Students who register for classes after their financial aid has been disbursed are responsible for paying the tuition for that class. Credits dropped after financial aid has been disbursed but before the class begins will result in a recalculation in financial aid. The student may owe money back to the financial aid programs.

Most Financial Aid (grants, loans, scholarships, etc.) directly credits against the amount the student owes for direct costs such as tuition, fees, on-campus housing and food, books, etc. Financial aid that exceeds the balance is “excess aid” and is disbursed to the student at the Business Office after direct costs are paid. Direct Loan funds received from the Department of Education or funds received from an alternative loan, via Electronic Funds Transfer, are credited directly to your college account. The student may deposit their excess financial aid directly into their bank account by completing the direct deposit form on Campus Connection.

Questions

Merissa Lourens
Financial Aid Associate
701-662-1516
Merissa.b.Lourens@lrsc.edu

Kelsey Walters
Financial Aid Director
701-662-1517
Kelsey.Walters@lrsc.edu