LDSBC Financial Aid Guide

Financial Aid Process

Step 1: Complete the Government FAFSA Online Today

Complete the Free Application for Federal Student Aid (FAFSA) at http://www.fafsa.ed.gov as early in the year as possible.  Using the LDS Business College's code of 003672.  

Because it can take several weeks to process financial aid, a FAFSA received close to or after the beginning of a semester will likely not be processed by the tuition deadline. Students applying close to or after the beginning of a semester should be prepared to pay tuition by the deadline, and to purchase textbooks.  LDS Business College is not responsible for late fees and/or interest charges incurred due to late application and paperwork submission.

IRS Data Retrieval Tool

Students and their parents may transfer tax information from the IRS to their FAFSA by using the IRS Data Retrieval Tool. For more information about this process, please view the following:

Be Admitted to the College

Go to besmart.com to apply.  The Financial Aid Office will not process your FAFSA until you have been admitted to LDS Business College as a degree-seeking student.  Students admitted as a “visiting student” do not qualify for financial aid. Keep in mind that students who do not have a declared major do not qualify for financial aid.

Submit Requested Documentation

Additional forms or other documentation may be required before your financial aid eligibility can be determined.  Any forms or documents you need to submit will be listed online in your Student Center under the To Do List.  You will be sent an email notifying you when items are posted here.  However, it is your responsibility to check your Student Center regularly.

Accept/Decline Financial Aid Online

After all required information/documentation has been submitted and reviewed, your financial aid award eligibility will be posted in your Student Center under "View Financial Aid."  After reviewing your award offer select "Accept/Decline Aid" to accept, decline, or reduce the amount of your award offer(s) online.  To print a copy for your records select "View Award Notification." 

Census Date

Your financial aid eligibility is based on your enrollment as of the Financial Aid census date.  The census date is two business days after the add/drop deadline each semester.  Your financial aid eligibility will be calculated using your enrollment on this date.  Please note that any classes added after this date will not be included when determining your financial aid eligibility for the semester.  Also, classes dropped or withdrawn before funds are disbursed may not be used in determining your eligibility for the semester.  

Disbursements and Refund Checks

Beginning Summer term 2011 disbursement of financial aid to tuition accounts will begin before the start of the semester.  Disbursements begin 10 days prior to the first day of the semester.  Funds are first disbursed to the student's tuition account to pay the bill with the school.  Students with funds left over should have a refund check made available to them within 14 days of disbursement.  However, most checks are available about a week after disbursement.  Financial aid disbursements will be adjusted through the census date for students whose enrollment changes.  Students whose enrollment changes decrease the student's financial aid eligibility will be required to pay those funds back to the College by the tuition deadline.

Financial aid (grants and loans) will not be disbursed until the following requirements are met:

  • All To Do List items (Student Center) are complete.
  • The Financial Aid Notification Letter (FAN) has been submitted and the awards in the Student Center show as accepted.
    • Please note that FAN Letters submitted after the first day of classes may not be processed in time to disburse grants or loans by the tuition deadline.
  • Entrance counseling is completed (loans only).
  • Master Promissory Note is completed (loans only). 
  • You have not been disqualified due to Satisfactory Academic Progress requirements. 
  • You are registered for classes.
  • Disbursements have begun for the semester.

Tuition must be paid in full by the tuition deadline.  If the student's financial aid award is not enough to cover the tuition bill in its entirety, the student is responsible to pay the remaining balance by the tuition deadline.  Failure to do so may result in late fees and/or classes being dropped.  It is the student's responsibility to ensure tuition is paid on time.  The Financial Aid Office is not responsible for late fees and/or classes being dropped for non-payment.  Please contact the Financial Aid Office with any questions. 

Books

Students receiving financial aid may use their own funds or their financial aid refund to purchase books.  Book accounts are no longer available to financial aid students beginning Summer term 2011.  This change has been made in order to allow financial aid to be disbursed to students earlier in the semester.  

Scholarship students who have scholarship funds for books may request a book account at the Financial Aid Office.  The book account allows the student to purchase books at the Campus Bookstore using the student's scholarship funds.

Other Important Deadlines

FAFSA
  • The FAFSA for the 2014-15 academic year is available online from January 1, 2014 - June 30, 2015.
    • The FAFSA must be received by the Financial Aid Office before the student's last date of enrollment for the academic year.
  • The FAFSA for the 2015-16 academic year is available online from January 1, 2015 - June 30, 2016.
    • The FAFSA must be received by the Financial Aid Office before the student's last date of enrollment for the academic year.
  • Priority Filing Deadline: Eight weeks prior to the start of the semester.  Students who apply early, and submit all requested documentation/information promptly, should have their financial aid processed in time for the start of classes.  Students who cannot submit their FAFSA by the priority deadline should do so as early as possible.  
Verification

For some students the Financial Aid Office is required to verify the information on the FAFSA is correct.  These students are required to submit additional documentation (such as tax forms) to the Financial Aid Office. It is in the student's best interest to submit verification documentation before the end of the semester.  Verification documents should be submitted no later than one week prior to the end of the semester.  Students wishing to submit verification after this time should check with the Financial Aid Office.  Final verification deadlines are listed below:

  • FAFSA 2014-15: Verification documents must be submitted within 120 days after the last day of enrollment or by September 2015, whichever comes first.
Loan Requests

Loans must be accepted/requested by the last day of classes for the semester.  Students submitting loan requests, financial aid notification letters, verification, or other required documents later than one week prior to the end of the semester may not be able to request a loan for that semester. Students requesting loans late in the semester should check with the Financial Aid Office to determine their options.

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