Section III: Student Finance

Section III: Student Finance jeff Tue, 10/10/2017 - 15:40

Lakeview College of Nursing reserves the right to make appropriate revisions, amendments or corrections to policies and procedures at any time, with or without notice.

Tuition and Fees

Tuition and Fees jeff Tue, 10/10/2017 - 15:40

Nursing education is an investment in your future, resulting in higher earning potential and greater career choices. Lakeview College of Nursing actively works to keep costs down while maintaining high standards.

Tuition

$440 Per Credit Hour Regardless of Residence [Cost Range for 1-17 hrs. = $440 - $7,480]

Course Fees1,2

$65 Per Credit Hour* [Cost Range for 1-17 hrs. = $65 - $1,105]

Testing Fee3 $115 per course
Lab Equipment Fee for N201 and N210 $50 for each course [$100 total for both courses]
Graduation Fee $185

Proficiency Examination Fee

$100 for Each Test

Portfolio Fee

$100 per Credit Hour

Late Registration Fee $50
Late Payment Fee $50
Returned Check Fee $30
Lost of Misplaced Clinical ID Badge $25
Lost or Misplaced Key Fob $25


1Course Fees: Orientation, Technology, Simulation, Library, Student Activity Fee, Assessment, Health Record Maintenance, Student Malpractice Insurance, Facilities

2Please Note: (Charleston Students) LCN Charleston students are charged additional fees by Eastern Illinois University. Charleston students have access to several services offered by EIU (recreation center, computer labs, library, health services, union center, etc.) Charleston students must check their billing for fees through EIU's PAWS system. Students have access access to PAWS from: EIU’s home page: http://www.eiu.edu or the PAWS website: http://www.eiu.edu/paws . New students will need their EIU Net ID and Net Password in order to access PAWS. Following the Lakeview deadline to drop courses, Lakeview reimburses EIU $65 per credit hour (up to 12 credit hours per semester) for student fees reflected on EIU billing statement.  This reimbursement does not include any fees assessed by EIU for campus improvement, parking fees, library fees, etc.  A student will not be able to register for the next semester if they have an outstanding account with EIU.

3Testing Fee: ATI Nursing Education [Standardized Testing, Comprehensive Predictor, NCLEX-RN Live Review, Skills Modules, Video Case Studies, Drug Guide]

Student Insurance Fee (Charleston Students): 

All inquiries related to EIU Student Insurance should be directed to the Student Insurance Office at EIU by calling 217-581-5290. Rate is established by EIU and is subject to change.

Other Expenses

Semester I

$2,120

Includes: Books ($770)

Scrub Uniforms, White Coat, Shoes, Penlight, Watch with a second hand, Bandage scissors, Stethoscope, Blood Pressure Cuff with Sphygmomanometer ($350)

Electronic device ($1000) [Laptop - see required specs at https://www.lakeviewcol.edu/technology].

Semester II

$525

Includes: Books

Semester III

$75

Includes: Books

Semester IV

$540

Includes: Books ($190)

Nursing License Costs: Fingerprinting, NCLEX Exam, Illinois Nursing License  ($350)

Optional Expenses

Oto-Opthalmascope (approximately $275)

Offered during semester 4:
ACLS Certification (approximately $150, cost set by private vendor)
PALS Certification (approximately $150, cost set by private vendor)

 

Please Note:

Books, equipment, etc. may be purchased through the Follett Bookstore at Danville Area Community College - 217-443-8759, the Eastern Illinois University Union Bookstore - 217-581-5821, or another vendor.

Payment of Tuition and Fees

Payment of Tuition and Fees jeff Tue, 10/10/2017 - 15:40

Accounts are due and payable in full on or before the date specified on the semester invoice, in accordance with the academic calendar. Students Account Statements are mailed once and thereafter, students may log into their online student account (SONIS) to view their account statements. Students who do not pay in full, enroll in the tuition payment plan, and/or demonstrate approved financial aid coverage before the date specified will be dropped from all courses. Any funding sources received on the student's behalf, and processed by Lakeview College of Nursing, shall first be applied to any outstanding current balance of the direct cost of tuition, fees and books.

Payment methods:

  • Cash, check, debit/credit card payment to the LCN cashier in person/mail/phone.
  • Established third-party payment agreement (such as College Illinois, Veterans Benefits, WIA, Vocational Rehab, etc.).
  • Utilization of the Nelnet Business Solutions (NBS), formerly FACTS, tuition payment plan (enrollment fee applies). To enroll in the NBS Payment Plan please fill out the form located on their website: http://mycollegepaymentplan.com/lakeview/ You will need the balance due and student ID number to complete the form. Please contact the cashier at 217-709-0922 or studentaccounts@lakeviewcol.edu if you have any questions. Students must maintain prompt monthly payments to be eligible for continued payments through NBS.
  • Confirmation of approved private educational loan from the Financial Aid Office.
  • Authorized financial aid (completed and verified file) and/or scholarship award at a level to fully cover tuition and fee costs. Please refer to the Financial Aid section for more information. Students must use financial aid for semester intended. (e.g. It is not possible for students to use current semester loan monies for a previous semester).

All fiscal obligations must be cleared prior to registration for a subsequent term and prior to graduation on both campuses. Failure to make restitution will result in your ability to progress, or holding of diploma, transcripts, and Certification of Education form sent to the State by the College which allows you to sit for the NCLEX examination.

Refunds

Refunds jeff Tue, 10/10/2017 - 15:40

All refunds will be requested through the Cashier and approved through the Business Office periodically throughout the semester All refunds will be issued in the form of a check. Students should come prepared to meet their school/living expenses prior to issuance of refund checks. Emergency loans will not be issued at any time.

All student accounts will be refunded in accordance with established College procedures:

  • 100% Refund - If the initiation and completion of the withdrawal is made through the Director of Enrollment/Registrar by Noon as follows:  by the end of the 2nd class week within a 15 week semester; by the end of the 1st week of class for summer session; and by the Monday following the 1st class meeting for weekend format courses. No refund will be given for withdrawals made after the deadlines stated above.
  • Military Benefits - Special Circumstances: A soldier ordered into service by the Government will need to speak with the Business Office.
  • Federal Aid in excess of your statement of accounts will be refunded to you once the funds are received from the federal government. Refund checks are generally available 30 days after the start of classes each semester.
  • Private Education funds are received electronically by the College and posted directly to the student’s LCN statement of account. In case of a credit balance, a refund check will be generated at that time.
  • Each semester, all credit balances will be refunded in a timely manner. No balances will be carried forward to another semester.
  • The exception to this policy is when the Department of Education Federal Refund Policy must be applied to those students whose costs are paid by student financial aid funding.

State and/or Accrediting Agency Refund Rule
The State of Illinois has not established a mandated refunding rule for private colleges.

The Higher Learning Commission as an accrediting agency has not established a refund rule.

Federal Refund Rule (Return of Title IV Funds)
The Department of Education mandates that unearned federal financial aid funds are returned to the specific program if a student withdraws from all coursework in a semester (Requirements of 34 CFR 668.22). The amount of the refund is determined by days of the semester that the student was in attendance versus the remaining days (after withdrawal) until the semester ends. Students are notified by mail of their debt to the Department of Education. This debt must be paid in a timely manner in order for the student to receive future financial aid. Contact the Financial Aid Office for more details regarding this policy.

Financial Aid

Financial Aid jeff Tue, 10/10/2017 - 15:40

Financial assistance at Lakeview College of Nursing is available in the form of scholarships, grants, and loans.  In-depth information and counseling may be obtained from the Financial Aid Office located on the second floor, room 202, of the Danville Campus Building.  Office hours are 8 am to 4 pm Monday through Friday.

Using Financial Aid to Pay for Classes

Students whose financial aid paperwork has been received and processed by the Financial Aid Department will be notified of awarded gift aid and Federal Direct loan processing instructions via their LCN student email.  Students with a credit balance due to their processed financial aid will receive a book voucher via their LCN student email to be used at the Follett Bookstore at Danville Area Community College (Danville students) or the Eastern Illinois University Union Bookstore (Charleston students).  Voucher usage has a limited time frame noted on the form.

Financial aid is always subject to change without prior notice if changes occur in your enrollment status, class attendance, personal circumstances, or in Federal or State deadlines.  You are responsible for all college bills not covered by your financial aid.  All charges that you incur during a semester that are not covered by financial aid must be paid before you will be able to register for the next semester.  If you have questions of any kind relating to paying your college costs with your financial aid, please contact our office for a prompt response.

See also https://www.lakeviewcol.edu/catalog-2017-2018/section-iii-student-finance/payment-tuition-and-fees

Important Notice/Deadlines

Federal Deadline: We encourage you to complete the Free Application for Federal Student Aid (FAFSA) as early as possible each award year. The new Award Year application is available October 1.

State deadlines: The State of Illinois sets a deadline for the Monetary Award Program each award year. We encourage all students to complete the FAFSA as early as possible each award year.

Institutional Deadlines:

  • Scholarships – The deadlines for LCN scholarships are June 1 for fall semester, November 1 for spring semester and March 1 for summer semester.
  • Stafford Loan Processing – The last date you can request a Stafford loan for a semester is no later than the mid-term date of each semester.
  • Verification Deadlines – The Student Aid file must be completed, verified as accurate (and corrected if applicable) no later than the last date of the semester for which student aid is to be applied.

How to Apply for Financial Aid

To be awarded Federal and/or Illinois State student financial aid to attend Lakeview, you will need to be accepted and enrolled as a degree seeking student at LCN, have a completed and verified Student Aid Report and meet any other criteria designated by the student aid program(s).

Complete the Federal student aid application called the Free Application for Federal Student Aid (FAFSA) via the Internet at www.fafsa.ed.gov.  Lakeview's school code is #010501.

Students admitted for the Spring semester must add Lakeview's school code to the Student Aid Report via the Internet. You should contact the LCN Financial Aid Office to discuss what awards may be available and the amounts since eligibility for some programs can change from one college to another. It is very important to cancel any pending aid at the school you are transferring from so LCN can proceed with your aid.

The result of the FAFSA is the Student Aid Report (SAR). You will have the opportunity to print and/or review your SAR via the Internet site. We receive an electronic version of this report. The SAR will be used to determine which programs you qualify for and how much aid you will receive. The LCN financial aid office will let you know what additional documents you may need to submit to the office to complete the verification process.

If you are male and required to be registered for Selective Service, you must be registered with Selective Service to receive student financial aid. If you wish to register electronically visit the Selective Service website at www.sss.gov.

A student must be enrolled in the minimum number of hours required by the financial aid program.

Financial Need

Student aid will only be awarded based on LCN credit hours. When packaging awards no “concurrent” enrollment with another school will be considered. Most federal and state financial aid is awarded on the basis of demonstrated financial need. The formula used to determine who has need and who does not is:

  • Student Budget - Expected Family Contribution = Financial Need

  • Student Budget is the cost of attending college (tuition, fees, transportation, books, supplies, etc.). Expected Family Contribution is taken from the student's Student Aid Report (SAR).

  • Financial Need is the maximum dollar amount of aid from the various sources for which the student is eligible.

You will not necessarily receive financial assistance up to the maximum dollar amount for which you may be eligible and your total aid "package" may not meet your Cost of Attendance.

The various sources of aid have maximum award amounts and may be further affected by limitations in the availability of funds. Loans may be available if grant aid is insufficient. Please inquire at the financial aid office if you need additional funding.

Verification

Lakeview College of Nursing’s Financial Aid Office performs verification on all students applying for financial aid and verifies all elements of the FAFSA data. You and your family will be requested to provide the documentation concerning the information required on the FAFSA. Your financial aid file will not be completed and student financial aid (that you may qualify for) will not be awarded until all verification is complete. Any instances of conflicting, erroneous or omitted information may require a correction to your FAFSA data. Once corrections are processed and returned you will be updated to any changes in eligibility. It is important that you reply to all requests for verification documentation. Verification must be completed and corrections made (if applicable) before the end of the semester for which you are applying for student aid funds or all "potential" funds will be canceled.

Note: The verification process is not related in any way to the due date of the student’s semester billing. In order to apply student aid funding towards direct educational costs the verification process must be completed and determined accurate and student eligibility determined prior to the billing due date. It is the student’s responsibility to pay their bill by the billing due date to avoid being dropped from classes due to nonpayment.

Independent/Dependent Status

Applicants answers to certain questions will determine whether they are considered on the Free Application for Federal Student Aid (FAFSA) to be "dependent" (still part of a parent's family unit) or whether they are "independent" (have formed their own family unit). Students are classified according to family unit because federal student aid programs are based on the idea that students, and their parents or spouses (if applicable), have the primary responsibility for paying for their post-secondary education. To be considered "independent," at least one of the following must apply to the student:

  • turns 24 before January 1 of the academic year for which aid is sought

  • is a veteran of the U.S. Armed Forces

  • is an orphan or ward of the court until age 18

  • is married/has children (for whom they provide over 50% of support)

  • meets and documents any other status questions on FAFSA as a "Yes"

For students who meet Independent Status due to answering "Yes" to one or more of the FAFSA questions documentation may be requested.  If you have questions of any kind relating to your eligibility for financial aid please telephone or e-mail our office for a prompt response.

Grants

Grants jeff Tue, 10/10/2017 - 15:40

Federal Pell Grant

The Pell Grant is available to eligible students at LCN. To apply you must complete the FAFSA application for financial aid. The resulting expected family contribution (EFC) will be used to determine your eligibility for all financial aid programs, including the Pell grant. This award can be used to pay tuition, fees, books and supplies, up to the amount available each semester. If the student has funds after costs are met, then refunds are generally available 30 days after the start of classes each semester.

Illinois Student Assistance Commission (ISAC)

A resident of Illinois (who is a US citizen or permanent resident of the United States), enrolled in an eligible program at LCN, and demonstrating financial need as determined by the Illinois Student Assistance Commission, may receive a grant, called the Monetary Award Program (MAP). There is no separate State application, a student need only indicate Illinois residency, to be considered for State award when the FAFSA is completed. A dependent student's parent(s), whose information was required on the Federal Student Aid Application (FAFSA), must be an Illinois resident. The State sets deadlines each award year that a student must meet to be considered for the MAP award. Apply early each award year. Announced awards (estimated or actual) can be reduced or canceled at anytime during the award year.

Loans

Loans jeff Tue, 10/10/2017 - 15:40

Federal Loan Programs

To be eligible to apply for any of the Title IV student loans you must:

  • Apply for financial aid using the FAFSA.

  • Have a completed, verified as accurate, student aid file on record.

  • Complete loan counseling and other special requirements.

  • Be enrolled in at least half-time enrollment status.

  • Be enrolled in only coursework relevant to your program of study.

  • Meet DL Program Regulations per 34 CFR part 668.

  • Meet School processing deadlines

Federal Direct Stafford Loan Program (subsidized and unsubsidized)

  • Repayment begins six months after the student graduates, leaves school or drops below half-time enrollment.

  • Loan disbursements are deposited in the form of electronic funds to the student's LCN account and are released no earlier than thirty days after the beginning of the semester.

  • Students may request up to $7,500.00 at the Junior or Senior Level each award year (max subsidized amount in figure is $5500.00).

  • Independent students may be eligible for additional unsubsidized loans for a maximum eligibility of $12,500

  • Please note: Some students may qualify for the following loan processing standards based on their program completion plan and will be contacted by Financial Aid Office with their Federal loan eligibility.

    1. Students that graduate mid-year (December) and are enrolled in 6 or more credit hours for the remaining summer and fall semesters can qualify to process aid based on the borrower based award year (BBAY). This allows the student to maximize Federal loan/grant eligibility.

    2. Students that graduate mid-year (December) and are not enrolled in any preceding summer semester courses will require Federal loan proration for Federal loans processed in Fall since the final period of enrollment is shorter than the academic year in length.

 

Federal Parent Loan for Undergraduate Students (PLUS)

Parents may borrow for their undergraduate dependent students. Parents would be eligible to borrow up to the cost of education minus any financial aid.

 

Loan Interest Rates

To view current interest rates and other loan information go to StudentAid.gov

34 CFR Section 668.202(e)(1) of the Federal Direct Loan (DL) Program provides that a school may refuse to certify a Stafford or PLUS loan application or may reduce the borrower's determination of need for the loan if the reason for that action is documented and provided to the student in writing provided the determination is made on a case-by-case basis. All previous borrowing of student loans and total debt will be reviewed prior to certification of future loans.

 

Applying for Federal Direct Loans

Once your student file has been verified, loan processing instructions will be forwarded to your LCN email account. The application process is conducted via the Internet. You will be required to login at specific sites (noted below) and use your Federal Student ID which is the same ID you must use when completing the application for Federal Student Aid (the FAFSA) each award year.

To apply complete these steps:

  1. Complete entrance counseling at StudentLoans.gov. All first time borrowers at LCN are required to complete this step.

  2. Complete the Electronic Master Promissory Note (EMPN) at StudentLoans.gov.

  3. Return your loan request responses from previous email to the FA Office.

  4. Meet school deadlines for the semester in regards to loan processing.

If parent is applying for the Parent Loan for Undergraduate Students (PLUS), you must:

  1. Complete PLUS Application request process at StudentLoans.gov.

  2. Complete the PLUS Electronic Master Promissory Note at StudentLoans.gov.

  3. Contact the Financial Aid Office with requested loan amount.

 

Repayment of Federal loans

LCN students who process Federal Loans and drop below half-time enrollment, withdraw from the program, or graduate, will receive personalized exit information from the Financial Aid Office regarding their Federal loans. More information on repaying Federal student loans can be found at https://studentaid.ed.gov/sa/repay-loans

Federal Student Loan Ombudsman

The Ombudsman Group is dedicated to helping resolve disputes related to Direct Loans, Federal Family Education Loan (FFEL) Program loans, Guaranteed Student Loans, and Perkins Loans. If a borrower has completed the steps to resolve a loan dispute and are not satisfied, the borrower may need to contact the Federal Student Aid (FSA) Ombudsman Group of the U.S. Department of Education (ED). The Ombudsman Group is neutral, informal, and confidential resources to help resolve disputes about your federal student loans. Contact the Ombudsmen Group as a last resort. Make every effort to resolve your student loan problem before contacting the Ombudsman Group.

FSA Ombudsman Group
PO Box 1843
Monticello, KY 42633
Phone: 877-557-2575
Fax: 606-396-4821
http://studentaid.ed.gov/sa/repay_loans/disputes/prepare

Alternative Loans

Alternative loans, commonly referred to as "private loans" are offered by various banks and private lenders to cover the costs of college not covered by other financial aid resources. A Credit Check is completed on the potential borrower. Also it is common to be required to have a co-signer for the loan. Interest rates are variable by borrower and based on many factors that the lender deems relevant.

Alternative loans are intended for:

  • students whose financial aid doesn't cover the full cost of higher education (Cost of Attendance is considered in need) or,

  • students who may not be enrolled in a financial aid eligible program or,

  • students who may not be eligible for financial aid for other reasons.

Depending on individual circumstances, a parent may also be able to borrow alternative loans to help pay for a child's college expenses.

There are many companies that offer alternative loans. As a wise consumer you should shop around and investigate what lender offers the best loan to meet your needs. You may choose any lender you wish. In considering a lender you should look at the interest rates, repayment period, "reward" options, the quality of their customer service and amount eligible to borrow within specific time frames. All of these considerations will help you find the best loan to meet your educational needs.

Lakeview College of Nursing does not sponsor or endorse any lender. We do have a "historical" listing of lenders that current and/or previous students have used. You may visit FASTChoice at http://choice.fastproducts.org/FastChoice/home/1050100 to complete private loan entrance and exit counseling and compare products offered by lenders on the historical list. As a consumer you should research your options and use your best judgment to choose a lender. We strongly suggest that students contact us to discuss the Federal Stafford loan program and what advantages concerning interest rates, repayment options and other consumer information that may make it a better choice for borrowing funds for educational expenses. A parent of an undergraduate student also has the option of borrowing on the student's behalf for education expenses called the Federal PLUS program, this program may also have advantages for the consumer when comparing to an alternative loan. Each of these Federal loan programs require that the Free Application for Federal Student Aid (FAFSA) be completed and verified to be accurate before the loan can be certified and processed. Student's can also research this information on their own at the Department of Education's Web page at studentaid.ed.gov/sa/types/loans/federal-vs-private

For all loan questions, please call the Financial Aid Office at 217.709.0928.

Financial Aid and Withdrawals

Financial Aid and Withdrawals jeff Tue, 10/10/2017 - 15:40

If you withdraw or cease attendance, you may have charges and financial aid adjusted according to the time and circumstances that you cease enrollment. You should refer to the refund schedules, which are published in the current academic calendar. If you fail to attend class without officially withdrawing, it may void your financial aid, leaving you responsible for all charges. You must advise the Director of Enrollment/Registrar in writing in order to officially withdraw. NOTE: No loan check can be released if it is determined that a student has, in fact, ceased attendance.

Financial Aid Implications (Return of Title IV Funds)

Financial Aid Implications (Return of Title IV Funds) jeff Tue, 10/10/2017 - 15:40

Withdrawal refund policy for student financial aid funds will be in compliance with regulations for Return of Funds of Title IV awards (Requirements of 34 CFR 668.22). The Department of Education mandates that unearned federal financial aid funds are returned to the specific program if a student withdraws from all coursework in a semester. The amount of the refund is determined by the days of the semester that the student was in attendance versus the remaining days (after withdrawal) until the semester ends.

Any unearned Title IV aid must be returned to the Federal government within 45 days of the date of determination of your withdrawal. Students are notified by mail of their debt to the Department of Education. This debt must be paid in a timely manner in order for the student to receive future financial aid. Contact the Financial Aid Office for more details regarding this policy.

Funds that are returned to the Federal government are used to reduce the outstanding balances in individual Federal programs. Financial aid returned by you and/or your parent or the college must be allocated in the following order*:

  1. Federal Unsubsidized Direct Loan
  2. Federal Subsidized Direct Loan
  3. Federal Direct Parent Loan (PLUS)
  4. Federal Pell Grant

*Federal programs that the college does not participate in are not included in the distribution.

Contact the Financial Aid Office for more details regarding this policy.

State and/or Accrediting Agency Refund Rule
The State of Illinois has not established a mandated refunding rule for private colleges.
The Higher Learning Commission as an accrediting agency has not established a refund rule.

Student Academic Progression and Financial Aid

Student Academic Progression and Financial Aid jeff Tue, 10/10/2017 - 15:40

For information regarding how your academic progression can affect financial aid benefits, please see the Student Academic Progression Policy. Lakeview College of Nursing has one SAP policy that applies to all students.