If your family is like most, you will draw upon a combination of savings, assets, and current income to finance your education. We understand, however, that for many people these resources are not enough to cover the entire cost of a Lawrence education. Our need-based financial aid program can assist in making a Lawrence education affordable. The Financial Aid Checklist includes all the steps you need to complete for us to conduct a need analysis and determine your eligibility for financial aid.
How Your Financial Need is Determined
We use data from the Free Application for Federal Student Aid (FAFSA), the CSS PROFILE, and federal tax returns to determine the ability of your family to contribute toward your college expenses. Lawrence University also expects that students will contribute at least $2,000 per year from earnings during summer and/or winter break.
Types of Financial Aid
A financial aid package includes various types of financial assistance. These types of aid are drawn from Lawrence funds, federal and state government funds, and private funding sources.
Merit-based scholarships are based on your application for admission. If you receive a merit-based scholarship and are eligible for need-based aid, your scholarship (or scholarships) will help meet your need.
Lawrence University Grant
Grants are based on demonstrated financial need. The dollar amount varies depending on your individual household circumstances. New students are required to submit the CSS PROFILE and the FAFSA. You must also complete the FAFSA on an annual basis to be considered for a Lawrence University grant in future years. This annual review will gather up-to-date information about your household. Grants are not automatically renewed at the same dollar level each year, but will remain consistent with your demonstrated financial need.
These grants are based on demonstrated financial need as determined by a calculation established by the federal government. Completion of the FAFSA is required on an annual basis in order to be eligible for a federal grant. Federal grants for students include the Federal Pell Grant and the Federal Supplemental Educational Opportunity Grant (SEOG). The Pell Grant and SEOG are based strictly on federal EFC (as determined by the FAFSA).
If you are a Wisconsin resident, you may be eligible for a Wisconsin Tuition Grant, which provides up to $2,900 if you enroll at Lawrence. To be considered for this grant, you must complete the FAFSA each year by April 1st. Vermont, Rhode Island, Pennsylvania, and the District of Columbia also provide grant money to residents to attend out-of-state colleges. You should contact your state agency to determine eligibility for these awards.
Federal Stafford Loan & Federal Perkins Loan
These loan options allow you to use your future earning potential to offset some of your present educational costs. In the case of need-based loans (Subsidized Stafford Loan & Perkins Loan), the government pays the interest on the loan while you are in school. Eligibility for federally sponsored loan programs requires that you and your parent(s) complete and submit the FAFSA. Click here for more information.
Federal PLUS Loan & Private Student Loans
These two additional loan options allow families to cover all or a portion of their remaining balance. In the case of the PLUS Loan, the loan is in the parent's name. To be approved for a PLUS Loan, a parent must not have "adverse credit history." For a private student loan, the student is the borrower; however, most students need a co-signer in order to be approved for a private student loan. Click here for more information.
Federal Work-Study and Campus Employment
A wide array of on-campus positions are available on an annual basis. You will be paid directly every two weeks for the number of hours of work you complete. You may use these earnings to pay any outstanding balance on your account or for other incidental educational and personal expenses.