Free Application for Federal Student Aid (FAFSA)
In order to receive Federal Student Aid, you are required to complete and submit a Free Application for Federal Student Aid (FAFSA) to Lincoln Memorial University. The FAFSA can be completed at studentaid.gov. To complete the FAFSA, you must create a FSA ID. The FAFSA is available starting on October 1st of each year, and would need to be completed for each academic year of enrollment. To submit the FAFSA to LMU, use our federal school code, 003502. When completing the FAFSA, you will need to have your federal income tax return and W2 forms (if applicable) available. Dependent students are required to report their parent(s) information on the FAFSA. The parent would need to create a FSA ID and their federal income tax and W2 information would be used in addition to the student's.
After submitting your FAFSA, it takes the U.S. Department of Education 3-5 days to process it. Once your FAFSA is processed, they will send you a copy of your Student Aid Report (SAR), which is a summary of your FAFSA. You should review your SAR for accuracy. If anything is incorrect, you can log back into your FAFSA and make corrections. Once your FAFSA is processed, the U.S. Department of Education will send it to the colleges you listed. Once LMU receives your FAFSA, you will be able to track it through the Financial Aid section of "Webadvisor For Students" in your MyLMU account.
Sometimes we are required to collect additional information or documents from students before we can process financial aid. The U.S. Department of Education randomly selects students for a review process called verification. If you are selected for verification, it will indicate this on your MyLMU account. You will also receive an email from the Office of Student Financial Services notifying you of what documentation you need to submit. The U.S. Department of Education may require documents for reasons other than verification. Students may be flagged for numerous reasons including, but not limited to, citizenship status, loan default, and selective service status. If you are flagged, you will be notified through MyLMU and will also receive an email notifying you about the required documents you need to submit. It is important that you respond to all requests from the Office of Student Financial Services in a timely manner to avoid delays in the processing of your financial aid.
Awards and Disbursement
Once your financial aid is processed by LMU, you will receive an email to your LMU email account with instructions on how to view your financial aid award package through MyLMU. New students will also have a letter mailed to their home address. Through MyLMU, you will be able to accept/decline each award. If you wish to borrow less than the amount awarded, you will need to submit a Loan Request Form to the Office of Student Financial Services. Once you have accepted your financial aid, follow the instructions on the Award Completion webpage to finalize your awards.
The awards are calculated based on the information contained on your FAFSA. If information
regarding your housing or enrollment status changes, the financial aid award package
may change. Also, if any other aid or scholarships are awarded to you from outside
sources, your award package may change.
Financial aid awards are typically made on an annual basis. The annual award is divided into equal disbursements. Aid will be disbursed to student accounts after the drop/add period and bookstore charge periods have ended. If after applying the financial aid awards to the student’s account, a credit balance is created, the student may be eligible to receive a refund. All academic awards must be applied toward tuition, books, fees, room and board expenses. All other financial aid including federal, state, outside scholarships and institutional grants will be credited to the student's account first, with the academic award picking up the balance of the student's institutional aid eligibility. No refunds will be made on institutional funds.
Refunds are mailed out to the address on file unless direct deposit is set up. To set up direct deposit, log into MyLMU, select "Webadvisor for Students," select "Financial Information," and then select "Banking Information."
Professional Judgment Appeal (PJ)
If you have an unusual situation or circumstance that has occured since you completed your FAFSA, you may file for a Professional Judgment Appeal (PJ). The PJ allows financial aid administrators to review and make adjustments to data elements on your FAFSA that would impact your Expected Family Contribution (EFC). Professional judgments are approved on a case-by-case basis and require adequate documentation.