Most financial aid is awarded on a first come, first served basis. With that in mind, you should begin the application process as early as possible to ensure the availability of financial aid funds. The ideal time to apply for financial aid is October through early February.
You should also note that no financial aid will be awarded until you have been officially admitted to Lincoln Memorial University. So, step one: Apply for Admission!
All financial aid applicants are required to submit the Free Application for Federal
Student Aid (FAFSA). Complete it at the FAFSA website.
By completing the FAFSA, you will be applying for all need-based financial aid programs at Lincoln Memorial University. The FAFSA is available October 1st of each year. Within four weeks after you file your FAFSA, the U.S. Department of Education will send you a Student Aid Report (SAR). (Your SAR might include language about verifying your FAFSA accuracy. Please click here to read more about Verification.)
Lincoln Memorial University's FAFSA code is: 003502.
If you have an unusual financial situation that has occurred since you filed your Free Application for Federal Student Aid (FAFSA), please complete the appropriate Professional Judgment Appeal form below and return it to the Financial Aid Office as soon as possible.
Once the application process is complete, you will receive a notification via mail
with instructions on how to view and accept your financial aid awards through MyLMU.
MyLMU is an online portal to access your student accounts. Email notifications will
be sent to your LMU email account when awards are processed or revisions are made.
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.
Students who withdraw, or who cease to attend prior to the 60% point of the term shall
be subject to the Federal Return to Title IV policy. This policy, as established
by the Federal Government, applies to federal funds only. Institutional funds are
subject to the institution’s credit/refund schedule for that term.
Official withdrawals shall be processed thru the Return to Title IV Funds worksheet located on the FAA Access website. This worksheet calculates the percentage of aid earned based on the withdrawal date. If the calculation determines that funds must be returned, the school will initiate that process. The amount of funds returned for the student from their tuition and institutional charges is an obligation the student will owe the university. Counseling will be done with the student regarding any funds that are pending disbursement or returned to the government.
Students who did not officially withdraw and have earned all F’s or Incompletes are considered to be Unofficial Withdrawals. These students must prove class attendance beyond the 60% point of the term. If this proof is not available, their aid earned will be calculated thru the Return to Title IV Funds worksheet located on the FAA Access website. This calculation will be done at the 50% point of the term as directed by federal requirements. The amount of funds returned for the student from their tuition and institutional charges is an obligation the student will owe the university. Counseling will be done with the student regarding any funds that are pending disbursement or returned to the government.
Typically, most undergraduate students exhaust financial aid eligibility during the fall and spring semesters. Occasionally, students may have remaining financial aid eligibility for the summer semester. To inquire about or apply for summer aid, please contact the Financial Aid Office.
For general inquiries, contact the Financial Aid Office at 423.869.6336.