Financial Aid Terms & Conditions

It is very important that you read this page carefully. It contains information about your financial aid award. You are responsible for understanding the terms and conditions stipulated in this document.

All awards, unless noted otherwise, are based on full-time, full-year enrollment.

Disbursement of Awards. Disbursement of scholarship, grant, and loan funds are usually divided equally among the three terms. (This does not include Federal Work-Study and Campus Employment awards.) Grant and loan funds awarded by private donors are not applied to your account until the money is received by Lawrence.

Other Awards. If you receive monetary awards from sources other than Lawrence University, you must notify the Office of Financial Aid with the details of the outside award. Your financial aid package will be adjusted to reflect the outside award per Lawrence University policy. The self-help (loan and work-study award) portion of your package will be reduced for the first $1,000 in outside awards; if you receive more than $1,000 in outside awards, the amount over $1,000 will be used to replace equal shares of self-help and Lawrence University grant funds. In most cases the total amount of gift aid will be increased due to the addition of the outside award. Your Lawrence University merit scholarship will not be reduced due to outside awards.

Reconsideration of Award. We will reconsider aid awards only if you present new information that was not available at the time you submitted your aid application. It should be understood that any possible increase in aid must be related to the availability of Lawrence resources. Lawrence does not "negotiate" financial aid awards. A student must first accept all available aid offered to them before being considered for additional aid.

Renewal of Lawrence Scholarships. If you receive an Academic or Music Scholarship from Lawrence, your scholarship will renew each year (up to fours years for B.A. and B.Mus. students and five years for double-degree) as long as you maintain a cumulative grade point average of a 3.0 or better. Review of your cumulative grade point average will be conducted after the completion of Winter Term each year. If your cumulative grade point is below a 3.0 after the completion of Winter Term, your scholarship will be rescinded for the upcoming academic year. If your scholarship is rescinded, you are still eligible to receive need-based financial aid.

Need-based financial aid is based on the premise that the student and the student's parent(s) have primary responsibility for financing a college education. When available resources are not sufficient to cover these costs, a variety of financial aid programs are made available to bridge the existing gap. For most students, this is accomplished through a combination of scholarship, grant, loan and work.

You have the responsibility to:

You have the right to:

Federal Pell Grant. A federal grant based on financial need.

Federal Supplemental Educational Opportunity Grant (SEOG). A federal grant program for students with exceptional need. Pell Grant recipients with the lowest expected family contribution will be considered first for this grant.

Wisconsin Tuition Grant. A need-based grant program administered by the State of Wisconsin Higher Educational Aids Board (HEAB) for Wisconsin residents.

Lawrence University Grant. An institutionally-funded grant awarded to students based on financial need.

Federal Work-Study (FWS). A federal program whose funds are administered by Lawrence’s Office of Financial Aid, allowing students to secure jobs on campus. Any dollar amounts for FWS that appear in Lawrence aid awards reflect the maximum amount students can earn on campus during an academic year.  Employment wages are paid bi-weekly directly to students based upon the hours they worked during that period; they are not credited directly to student bills.

Campus Employment. Employment opportunity funded by Lawrence.  Dollar amounts that appear in Lawrence aid awards reflect the maximum amount students can earn on campus during an academic year.  Employment wages are paid bi-weekly directly to students based upon the hours they worked during that period; they are not credited directly to student bills.

Federal Direct Stafford Loan. A low interest federal student loan program whose lender is the U.S. Department of Education. A fee of up to 0.5% of the loan is deducted proportionately from each loan disbursement and retained by the government to help reduce the cost of the loans.

Subsidized Stafford Loans are awarded to students with demonstrated financial need at a fixed interest rate of 4.5%. Payment and interest are deferred until six months after you graduate, withdraw, or fall below half-time enrollment.

Unsubsidized Stafford Loans are non-need based loans at a fixed interest rate of 6.8%. Interest is charged during all periods, including in-school and during grace and deferment periods; however repayment of principal and interest is deferred until six months after you graduate, withdraw, or fall below half-time enrollment.

Federal Perkins Loan. Is a low-interest (5%) federal loan program. Funds from this program, when available, are loaned to students with exceptional financial need.  Payment and interest are deferred until nine months after a student graduates, withdraws, or falls below half-time enrollment. Because of the limited funding available in the Perkins Loan Program, Lawrence University requires a student to accept their maximum Stafford Loan before accepting a Perkins Loan.

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