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The following is a list of financial assistance funds, which may be listed on your award letter. Certain types of funding require follow-up on your part. It is important that you complete the follow-up procedures in a timely manner in order to receive the funding. Federal Pell Grant
The Pell Grant program provides awards to students who qualify on the basis of demonstrated need. Your eligibility is determined by the federal government when you complete the Free Application for Federal Student Aid (FAFSA). You will receive a “Student Aid Report” (SAR) from the federal government. If you did not indicate on your application that a report be sent to Lynn University, then you must update your FAFSA online promptly, so that we can determine the exact amount of your Pell Grant. Once you have completed the federal verification process, if required, the estimated amount shown on the award letter will become an actual amount or a revision will be made based on the information received in the verification process. Until we receive the electronic report from the government and have completed the federal verification process, your Pell Grant will remain estimated and will not be disbursed. This program requires 12 credit hour enrollment each term to receive the full amount estimated. Awards will be pro-rated for less than 12 credit hours. There is a limit to the total amount of Federal Pell Grants that a student may receive, which is the equivalent of 6 school years. Federal Supplemental Educational Opportunity Grant (FSEOG)
The FSEOG is a federal grant program. These need-based funds are awarded to the student by Lynn University. It is for a very high financial need student. Priority is given to Pell Grant recipients who have a zero SAI. Early filing of the FAFSA is imperative because of limited funding (March 1 priority deadline). TEACH Grant
The Teacher Education Assistance for College and Higher Education (TEACH) Grant program provides up to $4,000 per year to eligible students. Due to the Budget Control Act of 2011 (the sequester law), we are required to apply a percentage reduction to each TEACH disbursement. The current reduction amount is 6.2%. This grant is for students who intend to teach full-time in high-need subject areas for at least four years in an elementary or secondary school that serves students from low-income families. High-need subject areas are: bilingual education and English language acquisition, foreign language, mathematics, reading specialist, science, and special education. Failure to complete the teaching obligations, respond to requests for information, or properly document your teaching service will cause the TEACH Grant to be permanently converted to a Federal Direct Unsubsidized Loan with interest. Requirements
Florida Student Assistance Grant (FSAG) The Florida Student Assistance Grant is a need-based grant available to residents of Florida who are enrolled at Lynn University. These grants are awarded for one year but are renewable for up to a total of 8 semesters, or until receipt of the Bachelor’s degree, whichever comes first, within a period of not more than six consecutive years. Funds will be awarded after drop/add in the fall to students who have the highest unmet need. The amount of the grant ranges from $600 to $1,700 per year. This grant, in conjunction with other financial aid, shall not exceed the student’s financial need. Early filing of the FAFSA is required due to limited funding (March 1 priority deadline). Eligibility criteria are as follows:
Florida EffectiveAccess to Student Education (FL EASE) The Florida EASEGrant is a state entitlement program, which provides funds to Florida residents attending Lynn University regardless of financial need. The program is open to undergraduate students who have lived in Florida on a permanent basis for 12 months prior to the first day of classes for the academic term for which the award is made. Dependent students’ parents must fit this definition. For the purpose of residency, an independent applicant must not be eligible to be claimed as a tax exemption by any person other than a spouse, must be self-supporting for twelve (12) months prior to the first day of classes of the academic term for which assistance is requested, and have the intent, for purposes other than education, that Florida be their legal state of residence. These grants are not repaid. The student should complete the FL EASE application and return it directly to our office. The amount of the FL EASE is approximately $2,000 per academic year. A student must be enrolled in 12 credit hours each semester. You must successfully complete 24 credit hours each academic year and obtain a cumulative 2.0 G.P.A. each year in order to renew this grant.
Florida Bright Futures Scholarship Bright Futures eligible students will receive a fixed cost per credit hour award
Full-time students must complete 12 credits each semester for renewal the next year. All students who drop a class after the standard drop/add period or withdraw from a class during the semester will have to pay back the dollar credit given for that course in order to be renewed for the following year. A student who drops or withdraws from a class must successfully complete a number of credits that is equal to the amount for which they were funded. Bright Futures recipients who do not meet the new credit hour renewal requirements will have the opportunity to restore their award in a subsequent academic year. This applies to students who were funded and did not meet the minimum credit hour renewal requirements at the end of the academic year and thereafter. Students must be enrolled at least half-time to qualify for Bright Futures. A student cannot receive funding for more than 45 credits in one academic year. Other State Grants These grants are need-based and amounts vary from state to state. Check with your state agency about application procedures and deadlines. All state awards will remain estimated and will not be disbursed until official notification is received from the state agency.
Outside Scholarships In addition to financial aid funds awarded by or administered through the Office of Financial Aid, you may have knowledge of an outside scholarship you will be receiving. You must notify the FA office of all outside scholarships, as they may affect your financial assistance package. Funds should be mailed directly to the Office of Financial Aid. It is your responsibility to apply for or renew any outside scholarships. You may check the reference section in your local library or the Internet for publications and directories on outside scholarships that are available in your areas. Lynn University also posts a “Scholarship Newsletter” on myLynn on outside scholarships available. |
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Lynn University Institutional Loan
This loan program is awarded on the basis of financial need as determined by the Office of Financial Aid. The funds for this program are limited. The loan represents money borrowed by the student and must be repaid with interest after leaving school. The current interest rate is 5%. The student must sign an electronic promissory note for this loan and it must be returned to the Office of Financial Aid prior to registration. Early filing of the FAFSA is required due to limited funding (March 1 priority deadline).
Federal Direct Subsidized Loan The Federal Direct Subsidized Loan is awarded based on financial need. The federal government pays the interest on subsidized loans while a student is attending at least half-time. If the Subsidized loan has been recommended as part of your financial aid award, there are a number of steps that need to be taken to apply for the loan. You must accept the loan on your Workday portal. You must also complete the Master Promissory Note and Entrance Counseling at www.studentaid.gov. In order for the anticipated amount of your loan to be credited to your tuition account, please complete all the required loan documents prior to August 1st, which is the fall semester payment due date. Missing or incomplete loan documents will delay disbursement of your loan funds and you will be responsible to pay for the difference on your tuition bill. If you choose not to accept the Federal Direct Subsidized Loan, decline the loan on your Workday portal. New borrowers on or after July1, 2013, may receive Federal Direct Subsidized Loans for an aggregate of 150 percent of the student’s educational program. Once the student has reached the 150% limit, the student may borrow additional funds through the Federal Direct Unsubsidized Loan program. Direct Loans are subject to an origination fee that changes each year on October 1st. The fee reduces the amount of funds that are credited to your account.
Federal Direct Unsubsidized Student Loan This loan program is identical to the Federal Direct Subsidized Loan program requirements, except that the loan is not based on financial need and the federal government will not pay the interest. Students may wish to make the interest payments while in school or defer interest payments until graduation. Deferred interest will accrue and will be capitalized (become principal) upon graduation. Dependent undergraduate students are eligible for up to $2,000 per year. For independent students, the maximum eligibility is $6,000 for first and second year students, and $7,000 for third or fourth year students. Dependent students may be eligible for additional Stafford Unsubsidized Loan funds if their parent is denied for the Federal Direct PLUS loan. Direct Loans are subject to an origination fee that changes each year on October 1st. The fee reduces the amount of funds that are credited to your account. You may complete the loan entrance counseling and the Master Promissory Note online at www.studentaid.gov To accept the loan login to your Workday at Lynn and select Finances. Under Financial Aid Box-select Accept/Decline Awards and select the appropriate Award Year. Student Loan Ombudsman The FSA Student Loan Ombudsman Group is available to help federal student loan borrowers who need assistance with a loan dispute. The Loan Ombudsman Group should only be contacted when the borrower has already attempted to resolve their loan dispute with their financial aid office or loan servicer. The easiest way to contact the Loan Ombudsman Group is via on-line assistance at https://studentaid.gov/feedback-ombudsman/disputes/prepare or by phone 877-557-2575 or by mail at: US Department of Education Office of Federal Aid, P.O. Box 1854 Monticello, KY 46233. Entrance Loan Counseling For a first-time loan borrower, loan entrance counseling is required prior to receiving the first disbursement of a Federal Direct Loan. Prior to orientation, you may do the entrance counseling online at www.studentaid.gov. Entrance counseling is required prior to a loan application being certified by Lynn University. Students must be registered for at least 6 credits each term to maintain loan eligibility.
Exit Loan Counseling
When a student graduates, withdraws, drops below 6 credits a semester, or transfers to another university, the student must complete exit loan counseling with the Office of Financial Aid or online at www.studentaid.gov. This is mandated by federal regulations and students who do not complete exit counseling may have records, grades, and/or cap and gown held until this process is completed. Students must conduct the exit loan counseling within 30 days from the last day they attended their classes or no earlier than 6 weeks prior to the end of the term he/she will complete. Exit loan counseling will require you to complete forms that will give you information about the repayment of your loan, amount of debt, estimated monthly payment, and deferment options. Your rights and your responsibilities as a borrower will be reviewed again with you. Exit counseling can be completed online at www.studentaid.gov. Loan Eligibility Requirements Total Credit Hours Completed (includes transfer hours accepted)
Federal Direct Parent PLUS Loans for Undergraduate Students (PLUS) The Federal Direct ParentPLUS Loan is a program sponsored by the federal government. Parents can borrow up to the cost of attendance less any financial aid eligibility per year for each dependent student. Repayment generally begins 60 days after the 2nd disbursement. In case of a student withdrawal prior to the spring semester, the spring disbursement will be cancelled. If a parent is denied a Parent PLUS loan, the student may be eligible to apply for an additional Federal Direct Unsubsidized loan for either $4,000 or $5,000 depending on the student’s grade level. Direct Loans are subject to an origination fee that changes each year on October 1st. The fee reduces the amount of funds that are credited to your account. Approval of the loan is based on credit criteria as determined by the Department of Education. A parent cannot have an adverse credit history (a credit check will be done). Adverse credit conditions include but are not limited to:
The parent must be a US citizen or an eligible non-citizen in order to apply. Some parents will be required to complete PLUS Credit Counseling prior to the first disbursement of the loan if they are approved for the loan with a cosigner. The PLUS Counseling can be completed at www.studentaid.gov. A parent can apply for the loan online at www.studentaid.gov. Private loans
You may choose to apply for a private loan in addition to a Federal Direct Loan. These loans are based on credit and may require a co-signer or a co-borrower. Interest rates are variable. Information on alternative loan options is available online at www.credible.com/lynn . All private loan lenders will require you to complete and return an Application & Solicitation Disclosure prior to disbursing your funds to the university. The Disclosure contains specific details about your loan, including your interest rate & fees, examples of loan costs once you enter repayment, federal loan alternatives and repayment deferral options. Most private loan lenders have the capability for you to do this online on their portal. | ||||||||||||||||||||||||
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Federal Work-Study Federal Work Study is a form of need-based federal financial aid. A student must complete a Free Application for Federal Student Aid (FAFSA) to be eligible. Students must have a 2.0 gpa and be in good standing with the student conduct office. If a student is awarded Federal Work Study, the student must do the following:
completed on line or in the Employee Services Office. Jobs are available in almost every department on campus. Students usually work 8-12 hours per week. The pay rate is $13.00 per hour for all positions. Off Campus Community Service positions pay $15.00 per hour. All student employees are paid bi-weekly by direct deposit for hours worked. EARNINGS ARE NOT CREDITED TO THE STUDENT’S ACCOUNT. Student employment earnings are to be used to assist students in meeting theirresponsibilities for payment of educational costs including the student’s tuition bill, books, supplies and personal expenses.Funds from a Federal Work-Study award cannot be used as payment for expenses at registration since the funds have notyet been earned. All first time student employees at Lynn University must comply with the Immigration Control and Reform Act of 1986 by presenting documents which establish your identity and work authorization, as specified by the Immigration and Naturalization Service. The student will need to present items to Employee Services to confirm identity which can include items such as a picture Driver’s License, Social Security card, passport, etc. Community Service Federal Work Study Students can elect to apply for off-campus jobs in a community service position. Jobs available include elementary reading tutors in local schools. The pay rate is $15 per hour and having your own transportation is required. |
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Standards of Satisfactory Academic Progress for Financial Aid – Day, Online and Graduate Divisions Financial aid is awarded contingent upon the recipient maintaining satisfactory academic standing and progress (SAP) toward a degree. Students on federal financial aid (Title IV) will be evaluated annually, both qualitatively and quantitatively, at the end of the spring semester for Day Division students and at the end of the Spring II term for Online and Graduate Division students. To assess the quality of a student’s work, Lynn University uses the Fixed Standard which indicates that all students must meet their degree GPA requirement at the end of Spring/Spring II. Associate’s/bachelor’s students must have a cumulative grade point average of 2.0, master’s degree students must have a cumulative grade point average of 3.0 and doctoral students must have a cumulative grade point average of 3.25. For the quantitative measure, a student must complete his/her degree within a specific time frame, as shown below. Students receiving Title IV funding must complete their degrees within a maximum time frame as shown below. The maximum timeframe is 150% of the published length of the program, measured in credit hours: Associate Degree (60 credits hours required) Maximum timeframe: 90 credit hours Bachelor Degree (120 credit hours required) Maximum timeframe: 180 credit hours Master’s Degree (36 credit hours required) Maximum timeframe: 54 credit hours Ed.D. (51 credit hours required) Maximum timeframe: 76.5 credit hours Each Title IV recipient must meet a specific measurement of academic progress within the specified time frame as follows: Associate Degree/Bachelor Degree Full-time: 20 credits (annually) Part-time: 10 credits (annually) Master’s Degree Full-time: 24 credits (annually) Part-time: 12 credits (annually) Ed.D. Full-time: 12 credits (annually) Part-time: 6 credits (annually) A course that receives a grade of “W” for a course withdrawal or a grade of an “I” for an incomplete or a falling grade of a “F” or an “NP” for Not Pass will be evaluated as a non-completed course. These non-completed courses will jeopardize the student’s ability to be able to meet the Standard of Satisfactory Academic Progress for Financial Aid. In order to improve their knowledge of a subject and cumulative grade point average, students may elect to repeat a course in which they have earned a less than satisfactory grade, especially a “D” or an “F.” The higher grade will be the grade that contributes toward the cumulative grade point average. Lynn University does allow repetition of a course in a student’s enrollment status for a term as long as student has never passed the course. Students can retake a passed course once to improve the initial grade and receive Title IV funds. In situations where the course needed to be repeated is no longer available or offered, a similar course may be substituted with the approval of the dean of the college. A course in which a grade of “F” was earned at Lynn University can be repeated only at Lynn University. The repeated course is only counted once in the SAP calculation. Transfer courses that are completed at another approved university or program while the student is receiving Title IV aid from Lynn University will be counted towards the student’s completion rate. Transfer courses that were completed at another school prior to the student being enrolled as a matriculating student at Lynn University, and that apply to the student’s current degree program, will be counted towards their overall completion rate. Although credits transfer in from other institutions, grades do not. Transfer courses are listed on the transcript with a grade of T, CP or CC. A student’s Lynn grade point average is based solely on courses completed at Lynn University. A student requesting academic forgiveness at Lynn University due to a change in their major, specialization or minor is allowed to discount up to two courses in the abandoned program, but they are not eligible to change their federal status for meeting the Standards of Satisfactory Academic Progress for financial aid. Therefore, eligibility for federal student aid must include all courses attempted and taken in evaluating the student’s satisfactory academic progress for financial aid eligibility. Courses taken during any of the summer terms are treated as a trailer to the current academic year and those courses are counted towards a students’ cumulative GPA and degree progression during the SAP review process. Therefore, SAP review will be evaluated at the end of the summer term If a student takes courses that count towards their current program during a period of enrollment in which the student did not receive federal student aid, those courses still count in the student’s progress towards degree evaluation. In summary, all students must meet both criteria; the grade point average requirement and degree time frame completion, in order to continue to receive financial assistance. In essence, at least 67% of the cumulative courses attempted must be completed with a 2.0 or above cumulative grade point average for the associate/ bachelor’s program, 3.0 or above cumulative grade point average for the master’s program and 3.25 or above cumulative grade point average for the doctoral program. A student who does not meet one or both of the criteria will lose their eligibility for federal student aid for the upcoming academic year (fall & spring), however, the student may appeal these standards if there has been undue hardship (i.e., medical, death, divorce or other special circumstances). |
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Lynn-Approved Semester and Year-Long Program Students participating on a Lynn Approved semester or year-long program will be billed directly by Lynn University. Student will be charged Lynn fees including tuition, room and board (when applicable) for the academic year or semester. Lynn University will handle payments to program providers on behalf of the students. Lynn University will cover tuition and mandatory academic fees, room and board (when applicable), medical insurance and any other mandatory fees. Student is responsible for any refundable fees, airfare, books, required visas and personal expenses. Student will be billed directly by Lynn University Student Accounts as if they were attending the semester or academic year on Lynn University’s campus.
Student receiving financial aid may use some of their aid to offset the cost of the program. Student must make an appointment with their financial aid counselor to review their financial aid package and discuss how it will be applied to the Lynn-Approved Program. There is a limit on how much institutional scholarship is allowed to be applied towards the student abroad costs. |
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Financial aid awards are not automatically renewable. Financial aid must be applied for each year. You may continue to receive financial assistance if you show continued evidence of financial need, scholastic achievement, and personal responsibility. Students who wish to continue financial assistance must apply each year online through www.studentaid.gov. The new FAFSA application opens on October 1st. A new application must be submitted each academic year by March 1st for priority awarding. The specific amounts awarded to you in each aid category can usually be expected to change each year. Changes may occur for many reasons including increases or decreases in your family’s ability to contribute, aid received from outside sources, the family assuming more responsibility of the student’s education, or increased demand for financial aid funds. |
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Return of Title IV Funds Policy (R2T4) Title IV funds affected by this policy include: Federal Pell Grant, Federal Supplemental Educational Opportunity Grant, Federal Direct Subsidized Loan, Federal Direct Unsubsidized Loan, Federal Direct PLUS Loan, Federal Direct Graduate Plus Loan and TEACH Grant. Title IV funds are awarded to a student under the assumption the student will attend school for the entire period for which the assistance is awarded. When a student withdraws or stops attending all of his or her classes for a two week period, the student may no longer be eligible for the full amount of Title IV funds that the student was originally scheduled to receive. The university is required to calculate a “Return to Title IV Refund Calculation” (R2T4) if the student has stopped attending or withdrawn prior to completion of 60 percent of the term. If Title IV financial aid has been used to pay for all or any portion of these charges, financial aid program funds will be reimbursed to the appropriate agency in accordance with a formula required by federal regulations. Unearned Title IV funds will be returned to the Title IV Programs based on the number of days not attended. A student is eligible for a post-withdrawal disbursement if the R2T4 calculation shows that the student was eligible for aid that the school was unable to disburse prior to their withdrawal. To be eligible for a post-withdrawal disbursement, the university must have received a valid FAFSA with an official SAI prior to the student’s withdraw date. The university must notify the student that they are eligible for a post-withdrawal disbursement within 30 days from the date of determination that the student withdrew. The disbursement must be completed within 180 days of the withdraw date. Title IV grant funds must be disbursed before Title IV loan funds. Title IV grant funds have to be disbursed no later than 45 days after the date the student withdrew. The university can disburse Title IV grant funds without the student’s permission for current charges but written authorization from the student is required if the post-withdrawal disbursement is for non-current charges or if the funds to be disbursed are Title IV loans. When a return of unearned Title IV funds is required, the university must return the lesser of:
The order of refunds will be:
The university is required to return unearned Title IV funds within 45 days of the date the university determined the student withdrew. R2T4 requirements are separate from Lynn University’s refund policy. Therefore, this policy may result in a financial obligation that is payable to the university at the time of a student’s withdrawal or when the school determines the student has stopped attending classes. Example: Student received a Direct Subsidized Loan for $1,732, a Direct Unsubsidized Loan for $990 and a Direct Parent PLUS for $18,152 during the fall semester. Student attended almost four weeks into the semester and then withdrew from all of their classes for personal reasons. Based on the student’s last day of attendance, the R2T4 calculation determines that the student attended for 26 days and earned 26.5 percent of their federal student aid for the payment period. The student is eligible for $5,532 of the aid that was disbursed (26.5% x $20,874) and the school is required to return the difference of $15,342: $1,732 Direct Subsidized Loan, $990 Direct Unsubsidized Loan and $12,620 Direct Parent PLUS Loan. The student will owe this amount to the university as charges would not be adjusted after 25 days into the semester, per the schools refund policy. Withdrawal Refund Policy Withdrawal from the university is a formal procedure that requires submission of a Request for Withdrawal form available in the Student Success Office. If the student received or was eligible for federal student aid, an R2T4 calculation is required if the student did not complete at least 60 percent of the period of enrollment. For official withdrawals, the university will use the date the student submitted the completed Request for Withdrawal as the date the student withdrew. If a student stops attending all of their registered courses for a period of two weeks, and we are not able to confirm that the students intends on resuming their courses in the foreseeable future, an R2T4 calculation will be done to determine if a student earned all of the federal student aid that they received or were eligible for during the period of enrollment. The student If a student stops attending all of their registered courses for a period of two weeks, and we are not able to confirm that the is considered to be an unofficial withdrawal from the university and federal student aid may need to be refunded in accordance with federal regulations. The student will not be officially withdrawn from their courses. For unofficial withdrawals, the university will use the student’s last date of attendance as an academically related activity as the withdrawal date. All students withdrawing must report to the Office of Financial Aid for an exit loan interview. If a student withdraws anytime during a semester, ALL Lynn University grants and scholarship funds will be pro-rated based on the amount of weeks they actually attended the University. This policy may result in a student having a financial obligation to the University which is payable at the time of a student’s withdrawal.
Calculation of Refundable Amounts for Day Program The table below is based on accounts paid in FULL.
Room Charges Prior to Aug. 1, 2024 for Fall 2024 100 % Prior to Dec. 1, 2024 for Spring 2025 100 % Prior to May. 1, 2025 for Summer 2025 100 % After the above dates NO REFUND Refund The refund amount will be reduced by any financial aid that is cancelled due to the withdrawal. Refund checks will be mailed to the permanent home address on file within four to six weeks of the withdrawal date. Any remaining balance due after the refund adjustment is the obligation of the parent/student. |
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E-Mail: financialaid@lynn.edu
Financial aid is not denied or artificially restricted for any student based on race, color, gender, disability, religion, national and ethnic origin, or age. All students are treated equally in determining the amount of financial aid for which they qualify and the amount and types to be awarded based on available resources.
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