Financial Aid
Financial Aid Office
1801 College Drive N.
Devils Lake, ND 58301
701-662-1516
LRSC.FinancialAid@lrsc.edu
Office Hours
Monday - Friday
7:45 AM - 4:45 PM
Financial Aid
Financial aid helps cover college costs through grants, low-interest loans, and work-study programs from federal, state, or college sources.
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
Steps to Apply for Financial Aid
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. Need is the difference between college costs 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 Student Aid Index (SAI) beginning for 2024–2025.
The Student Aid Index (SAI) determines how much federal student aid a student may receive from the financial aid office. The SAI is calculated based on the information provided on the FAFSA® form. It is not a dollar amount of aid eligibility or the amount a family is expected to contribute. A negative SAI indicates a higher level of 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. You also do not awe money on a federal 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
To receive federal, state, or LRSC-sponsored aid, a student must work toward a degree or certificate in an eligible program. Enrollment must be at least half-time and active.
- 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.