Financial Aid Overview
The purpose of financial aid is to assist students whose personal and family resources are insufficient to meet the total cost of education at Laguna College of Art + Design. Financial aid is available from one or more of the following sources: scholarships, grants, part-time employment, and loans. LCAD is also eligible to participate in the Department of Veterans Affairs Educational Assistance programs.
Eligibility for most forms of financial aid is based on demonstrated financial need. Financial need is the difference between the Cost of Education (a standard budget) and the Estimated Family Contribution (the amount the student, and if applicable, the student's spouse and/or parents can be expected to contribute). Cost of Education components include tuition and fees, an allowance for books and supplies, housing, food, transportation, and personal expenses.
Family contributions are based on the Federal Methodology analysis of the information provided on the Free Application for Federal Student Aid (FAFSA) and supplemental documents. Students who believe they will need financial assistance to attend LCAD and who meet the eligibility requirements are encouraged to apply for aid. Financial aid awards are made for one academic year and must be reapplied for each subsequent year.
To receive need-based financial aid from LCAD, the applicant must meet the following eligibility criteria:
- Be accepted for enrollment as a matriculating student.
- Be a U.S. citizen or eligible non-citizen.
- Maintain measurable satisfactory academic progress according to the standards and practices established by LCAD while enrolled.
- Not owe a refund on or be in default of any Title IV loan previously received for attendance at any postsecondary institution. Be in compliance with Selective Service regulations.
To be considered for any type of need-based aid at LCAD, complete the Free Application for Federal Student Aid (FAFSA) online at www.fafsa.ed.gov. If you cannot complete the application online, please contact the Financial Aid office. Processing time may vary depending on the type of application and the date of submission. Generally, the processor needs three to six weeks to process the application.Plotkin Memorial Foundation; Roger Armstrong Scholarship Fund; and the Robert and Jean Schrimmer Endowment Fund.
SATISFACTORY ACADEMIC PROGRESS
All degree-seeking students must make Satisfactory Academic Progress (SAP) toward earning a degree as stipulated in the charts below to receive financial aid at LCAD. The below requirements are composed of both federal policy and LCAD institutional policy. Financial aid includes federal grants, work and loan programs, state grant programs and all institutional scholarships.
QUALITATIVE EVALUATION 1: MINIMUM CUMULATIVE GPA
|Minimum cumulative GPA||2.0||2.0||2.75||3.0|
QUANTITATIVE EVALUATION 1: MINIMUM COMPLETION OF AT- TEMPTED UNITS PER ACADEMIC YEAR
|Minimum % of total units successfully completed each academic year (units earned divided by units attempted)||67%|
QUANTITATIVE EVALUATION 2: MAXIMUM TOTAL UNITS THAT CAN BE ATTEMPTED TO COMPLETE A PROGRAM
|Units needed to complete the program||79||122||30||60|
|Maximum total units that can be attempted to complete a program||118||183||45||90|
SAP is first calculated at the end of the spring semester following the student's first term of enrollment as a regular degree-seeking student and annually at the end of the spring semester thereafter. SAP is also calculated at the point when a continuing student applies for aid for the first time.
Both qualitative (cumulative GPA) AND quantitative (units attempted and earned) progress is measured regardless of enrollment status. These measurements apply to ALL hours attempted and recognized by LCAD for degree consideration from all institutions.
- Students meeting the standards above at the time of calculation will be considered in good SAP standing.
- Students who do not meet the requirements shown above will be put on SAP probation and are notified that they are not making satisfactory progress toward their degree and are given one academic year to become compliant. If, after the next academic year, the student is once again not making progress or has not graduated, his/her financial aid will be suspended.
- Rules are applied uniformly to all students for all periods of enrollment whether or not aid has been received previously.
- Students who are returning to the college after being on SAP suspension will have their record reviewed by the Financial Aid Office upon re-entry. A student must meet SAP requirements to get financial aid.
- Eligibility for financial aid is re-established after a student improves his/ her academic record to meet the minimum standards, or an appeal due to unusual and/or mitigating circumstances is approved.
- Students are responsible for knowing the SAP eligibility criteria and their status at the end of each term. They may contact the Financial Aid Office if questions arise.
UNITS ATTEMPTED AND UNITS EARNED
- To successfully complete units in general education courses, the student must receive a grade of “D” or better, or “P” in a pass/fail course. To success- fully complete units in Art Studio courses, as well as English Composition and Critical Reasoning courses, the student must receive a grade of “C” or better. Grades “NP,” “I,” and “RD” do not count as successful completion of units until replaced by a passing grade.
- Courses transferred from other institutions will be counted toward the maximum total units attempted to complete degree requirements.
- If the student registers for a class but drops it by the Add/Drop Deadline, it does not count as units attempted. Any classes which are dropped after the Add/Drop Deadline but before the Withdrawal deadline will result in the grade of “W” and will count as units attempted and not completed. Grades of “W” do not affect the student's GPA.
- Repeated courses are counted as both units attempted and units completed for SAP purposes and the GPA will only reflect the highest grade.
- Remedial courses are not counted as units attempted or units completed, and they have no affect on GPA.
- Audited Courses are not counted as units attempted or units completed, and they have no affect on GPA. They are also not counted for enrollment purposes.
- If it becomes mathematically impossible for a student to complete his program before he reaches the maximum allowable number of units attempted, then he will be disqualified from receiving financial aid.
- Failed courses will count as units attempted and not as units earned.
CHANGES IN MAJOR
A change in your major does not extend eligibility for financial assistance.
All credit hours applicable to the current degree program attempted during Study Abroad terms will count as both units attempted and units earned.
STUDENTS SEEKING ADDITIONAL LCAD DEGREES IN DIFFERENT PROGRAMS AT THE SAME LEVEL
If a student has already earned a degree from LCAD and returns to earn another degree in a different major, the SAP requirements will be exactly the same as for any transfer student (units transferred in will count as units completed and units attempted).
Students with no enrollment history in a degree program at LCAD will enter on SAP good standing and will qualify for aid if otherwise eligible. All work accepted for transfer by LCAD will be included in the SAP calculation.
All returning students will re-enter at the SAP status earned at the end of their last LCAD enrollment. Students cannot reestablish eligibility simply by taking terms off from LCAD.
PROBATION AND SUSPENSION
All students who fail to maintain SAP will be placed on SAP probation for the following academic year. During this time, they will remain eligible for financial aid. If good SAP status is not achieved by the end of the academic year, they will be placed on SAP suspension and no financial aid will be awarded. The student must either achieve good SAP status or file a successful appeal to regain eligibility.
APPEALS AND REINSTATEMENT
- SAP Suspension may be appealed if unusual and/or mitigating circumstances affected academic progress. Such circumstances may include a severe illness or injury to the student or an immediate family member; the death of a student's relative; student activation for military service; or other circumstances as deemed appropriate for consideration by the Academic Standing Committee consisting of two Deans, the Registrar, and the Director of Financial Aid and Student Services.
- The student must submit an appeal on the official LCAD Appeal Form to the Financial Aid Office by July 1. Appeal forms are available on the LCAD web site or in the Financial Aid Office. The appeal must explain the special circumstances that led to the student not meeting SAP requirements. The Academic Standing Committee will review the appeal and the student will receive a response within two weeks from the date of submission.
- The Academic Standing Committee's decision result will be sent to the student by postal mail and by electronic mail.
- Students that have their appeal approved have one semester to meet SAP requirements or they will be suspended from financial aid. During their approved appeal semester, they will be eligible to receive financial aid.
- Appeal approvals will not result in retroactive funding.
- Academic Standing Committee decisions are final and cannot be appealed to another source.
- At the end of each semester, the Financial Aid Office will evaluate students who have been suspended from financial aid. Once a student again meets SAP requirements, their financial aid will be reinstated. The student will be eligible for Pell and SEOG for the payment period in which the student resumes SAP. The student will be eligible for federal loans for the entire period of enrollment in which the student resumes SAP.
STUDY ABROAD POLICY
Students may use their aid to study abroad for a maximum of one year. Students who study abroad are not eligible to receive any institutional funds (LCAD Institutional Grant, LCAD Grant, and any other funds awarded by the LCAD Scholarship Committee) during their time abroad. Here is a summary of additional study abroad policies.
- A 30-unit residency must be completed at LCAD before going abroad.
- Mandatory senior year in residence at LCAD.
- No institutional grant will be awarded during residency abroad.
- Student may use their federal and state aid while abroad.
- Student must complete the Study Abroad Expense Budget Form in the Financial Aid Office to get their aid approved.
- Student must have their classes to be taken abroad approved by the appropriate program chair before going abroad.
Financial Aid Information
- Freshmen - 0–27 units completed
- Sophmore - 28–60 units completed
- Junior - 61–93 units completed
- Senior - 94–122 units completed
ANNUAL LOAN LIMITS
Direct Stafford Subsidized Loans
- Freshmen - $3,500
- Sophmore - $4,500
- Junior/Senior - $5,500
DIRECT UNSUBSIDIZED STAFFORD LOAN
(Less Any Direct Stafford Subsidized Loans Awarded)
- Freshmen - $5,500
- Sophmore - $6,500
- Junior/Senior - $7,500
ADDITIONAL UNSUBSIDIZED FUNDING
(For Independent Students and Students whose parents are denied a PLUS loan)
- Freshmen/Sophmore - $4,000
- Junior/Senior - $5,000
DIRECT LOAN PROGRAM (DL)
The Direct Stafford Loan Program consists of low-interest subsidized and unsubsidized loans funded by the federal government. Loans are available to undergraduate, graduate, and professional students who are U.S. citizens or permanent residents. Loan repayment begins six months after graduation or dropping below half-time enrollment.
DIRECT SUBSIDIZED STAFFORD LOANS FOR UNDERGRADUATE STUDENTS
This is a long-term, low-interest federal loan. Subsidized means the interest is paid by the Federal Government while the student is in school at least half time or during the grace period. This is a need-based loan as determined by the FAFSA information. This loan must be repaid. The maximum aggregate loan amount allowed is $23,000 for undergraduate studies. The yearly maximum amount of this loan is based upon your class standing. Please see the Financial Aid Chart for a breakdown of class standing and yearly loan amounts.
DIRECT UNSUBSIDIZED STAFFORD LOANS FOR UNDERGRADUATE STUDENTS
This is a long-term, low-interest federal loan. Unsubsidized means the student is responsible for the interest on the loan instead of the Federal Government. Interest payments can be capitalized, which means they will be deferred with the principal while the student is in school. This interest amount will be added to the principal balance. This is a non-need-based loan as determined by the FAFSA information.
This loan must be repaid. The maximum aggregate loan amount allowed is $31,000 for dependent students and $57,500 for independent students for undergraduate studies (less any Stafford/Direct subsidized borrowing). The yearly maximum amount of this loan is based upon your class standing and your dependency status. Please see the Financial Aid Chart for a breakdown of class standing and yearly loan amounts.
DIRECT PARENT LOAN FOR UNDERGRADUATE STUDENTS (PLUS)
The PLUS loan program is available to parents of dependent students and has a fixed rate of 7.9%. These serve as a supplemental source of money to parents on behalf of their dependent son or daughter. Plus loans, unlike the Federal Stafford Loan program, are subject to credit approval by a lender and repayment begins within 60 days of full disbursement, although deferments are available if the student is currently enrolled at least half-time. If the parent's credit is denied the student may be eligible for additional Direct Unsubsidized Stafford loans. There are no aggregate loan limits. This loan is in the parent's name.
LCAD GRANTS AND SCHOLARSHIPS
LCAD grants and scholarships are provided through the generosity of alumni gifts, LCAD resources, and community support: Disneyland Resort; the Ebell Club of Laguna Beach; Edison International; Festival of Arts Foundation; Harry and Grace Steele Foundation; Laguna Canyon Artists; Michael L. Miller Memorial Scholarship Fund; Pacific Art Foundation; Pacific Life Foundation; Peter and Marsha Plotkin Memorial Foundation; Roger Armstrong Scholarship Fund; and the Robert and Jean Schrimmer Endowment Fund.
LCAD participates in three federally funded grant programs: the Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (FSEOG), and Academic Competitiveness Grant (ACG) programs. A grant is gift aid that does not have to be repaid as long as the student continues to meet all of the eligibility requirements.
CALIFORNIA STATE GRANTS
LCAD is eligible to participate in the Cal Grant A and Cal Grant B programs that are funded by the state of California and administrated by the California Student Aid Commission. All financial aid applicants who are California residents and U.S. citizens or eligible non-citizens are encouraged to apply for one of the Cal Grant programs. The annual deadline to apply for these grants is March 2. In order to apply for a Cal Grant you must complete the FAFSA by March 2 and send in a GPA verification to the California Student Aid Commission (CSAC) by March 2. LCAD will send GPA verifications for current LCAD students who request the verifications. Verifications will be sent to CSAC electronically. If a student has not completed 24 units at LCAD, they must request that their GPA verification be sent by their previous institution.
Federal Work-Study (FWS) is funded by the federal government, with some matching LCAD funds. Employment is limited to on-campus jobs, except for certain community-service jobs. FWS enables you to earn part of your financial aid award through part-time employment on campus. To participate, you must be eligible for and be awarded a FWS award as part of the financial aid package. In order to be awarded FWS, you must attend the FWS student meeting at the beginning of each semester.
Alternative loans, or private loans, help bridge the gap between federal and state aid awarded to the student and the actual cost of education. Private loans are offered by private lenders and there are no federal forms to complete. Eligibility for private student loans often depends on your credit score. These loans are in the student's name, although most students re- quire co-signers in order to meet the credit criteria for most lenders. LCAD will work with any lender that the student chooses.
LCAD INSTITUTIONAL GRANTS
The LCAD Institutional Grant is offered to all students applying for ad- mission to LCAD. Students must present a portfolio that represents their best work to be judged by an admissions scholarship committee as part of the application process. Recipients receive from $500 to $22,600 annually towards tuition costs for the duration of their four-year BFA program, provided they stay in good academic standing (maintain Satisfactory Academic Progress and a minimum term GPA of 2.0), have no incompletes on academic record, and enroll in at least 9 units each semester.
OTHER SCHOLARSHIPS AND GRANTS
The Office of Financial Aid and Student Services creates an Outside Sources of Financial Aid document. This document contains information regarding private scholarships, search engines, and other information to help you in your search for funding your education. The document is available on the LCAD website, as well as from the Office of Financial Aid and Student Services. Ultimately, the best resource for finding additional private scholar- ships and grants is the Internet. You are encouraged, whenever possible, to utilize this resource and to seek out private scholarships and grants is the Internet. You are encouraged, whenever possible, to utilize this resource and to seek out private scholarships and grants. If you have any further questions regarding financial aid or the financial aid process, please con- tact our Financial Aid office at 949.376.6000, or via email at email@example.com.
The Office of Financial Aid and Student Services creates an “Outside Sources of Financial Aid” document. This document contains information regarding private scholarships, search engines, and other information to help you in your search for funding your education. The document is available from the Office of Financial Aid and Student Services. Ultimately, the best resource for finding additional private scholarships and grants is the Internet. You are encouraged, whenever possible, to utilize this resource and to seek out private scholarships and grants on the Internet. If you have any further questions regarding financial aid or the financial aid process, please contact our Financial Aid office at 949.376.6000, or via email at firstname.lastname@example.org.
DIRECT UNSUBSIDIZED STAFFORD LOANS FOR GRADUATE STUDENTS
This is a long-term, low-interest federal loan. Unsubsidized means you are responsible for the interest on the loan instead of the Federal Government. Interest payments can be capitalized, which means they will be deferred with the principal while you are in school. This interest amount will be added to the principal balance. This is a non-need-based loan as determined by the FAFSA information. This loan must be repaid. The maximum aggregate loan amount is $138,500 for undergraduate and graduate studies combined (less any Stafford/Direct subsidized borrowing). The maximum amount that can be borrowed per academic year is $20,500 (less any Stafford/Direct subsidized borrowing) determined by the FAFSA information. This loan must be repaid. The maximum aggregate loan amount is $138,500 for undergraduate and graduate studies combined (less any Stafford/Direct subsidized borrowing). The maximum amount that can be borrowed per academic year is $20,500 (less any Stafford/Direct subsidized borrowing).
DIRECT GRADUATE PLUS LOAN
A federal PLUS loan that has a fixed interest rate of 7.9% is available for graduate students. The borrower may request an amount up to the cost of education minus other financial aid. Repayment begins within 60 days of full disbursement, although in-school deferments are available. The student must have no adverse credit history. There are no aggregate limits.
DIRECT SUBSIDIZED STAFFORD LOANS FOR POST-BACCALAUREATE STUDENTS
This is a long-term, low-interest federal loan. Subsidized means the interest is paid by the Federal Government while the student is in school at least half time or during the grace period. This is a need-based loan as determined by the FAFSA information. This loan must be repaid. The maximum aggregate loan amount allowed is $23,000 and takes into account loans taken out for undergraduate studies. The maximum amount that can be borrowed per academic year is $5,500.
DIRECT UNSUBSIDIZED STAFFORD LOANS FOR POST-BACCALAUREATE STUDENTS
This is a long-term, low-interest federal loan. Unsubsidized means the student is responsible for the interest on the loan instead of the Federal Government. Interest payments can be capitalized, which means they will be deferred with the principal while the student is in school. This interest amount will be added to the principal balance. This is a non-need-based loan as determined by the FAFSA information. This loan must be repaid. The maximum aggregate loan amount allowed is $31,000 for dependent students and $57,500 for independent students for undergraduate studies (less any Direct Subsidized borrowing) and takes into account loans taken out for undergraduate studies. The maximum amount that can be borrowed per academic year is $7,500 for dependent students and $12,500 for independent students (less any Stafford/Direct subsidized borrowing).
DEPARTMENT OF VETERAN AFFAIRS (DVA) EDUCATIONAL ASSISTANCE
Most degree programs offered at LCAD are approved by the California State Approving Agency for Veterans Education. However students should verify that their program is eligible by contacting the Financial Aid Office.
These benefits are available to veterans, to children of certain deceased or disabled veterans, and sometimes to the spouse of a veteran. Application for benefits may be made through any DVA regional office or through the Financial Aid office. If a student's cumulative GPA drops below 2.0 for two consecutive semesters, the student will be disqualified from the program at LCAD, the Department of Veteran Affairs will be notified, and all benefits will cease. Students are limited to two independent-study courses, which can count toward their program objective. During the student's first two semesters, LCAD will conduct an evaluation of previous education and training, grant appropriate credit, shorten the veteran's or eligible person's duration of the course proportionately, and notify the DVA and student accordingly.
LCAD is proud to be participating in the Yellow Ribbon Program.
The Yellow Ribbon GI Education Enhancement Program (Yellow Ribbon Program) is a provision of the Post-9/11 Veterans Educational Assistance Act of 2008. This program allows institutions of higher learning (degree granting institutions) in the United States to voluntarily enter into an agreement with VA to fund tuition expenses that exceed the highest public in-state undergraduate tuition rate. The institution can contribute up to 50% of those expenses and VA will match the same amount as the institution.
Who is Eligible for the Yellow Ribbon Program?
Only Veterans entitled to the maximum benefit rate of 100%, as determined by the service requirements, or their designated transferees may receive Yellow Ribbon benefits from Pacific and the VA. Active duty Service members and their spouses are not eligible for this program.
The general eligibility requirements for the Yellow Ribbon Program include:
- You served an aggregate period of 36 months in active duty after Sept. 10, 2001
- You were honorably discharged from active duty for a service-connected disability and you served 30 continuous days after Sept. 10, 2001
- You are a dependent eligible for Transfer of Entitlement under the Post-9/11 GI Bill® based on the service eligibility criteria listed above
We encourage all Veterans to review the eligibility criteria directly from the VA's Yellow Ribbon Program website.
Financial Aid Facts
Low income Verification