Financial Aid Frequently Asked Questions
The following resource can help answer any questions you may have concerning financial aid. Each link below leads to a section with information that you may find helpful.
What is Lee's Title IV Code?
• Title IV Code: 003500
How do I apply for Federal Aid?
• Eligibility for Federal Aid is determined by filing the Free Application for Federal Student Aid (FAFSA) with the Federal Processor. You will need to use your FSA ID and password to login.
When can I apply for Federal Aid?
• Applications for Federal Aid may be filed anytime during the school year; however, the results must be received before the last date of attendance. February 1 is the priority deadline. Other applications will be processed after all required documents are received (as long as the file is complete before the last date of attendance). See the Lee University Catalog for more information.
How long does it take to receive the results of the FAFSA?
• Results are typically received within three to five business days after a student submits a completed online FAFSA.
Do I have to re-apply every year?
• Yes, however, if you are in the Department of Education’s computer system prior to October before the application academic year, then you should receive a Renewal Free Application for Federal Student Aid (FAFSA). The Renewal FAFSA has the student’s demographic data i.e. name, social security number, date of birth etc. See the Lee University Catalog for more information.
What if my parents aren't supporting me, do I still have to report their information?
• If you answer No to all the questions in Section D of the FAFSA, then you must report your parent’s information. If there are extreme special circumstances then you need to fill out a Special Conditions form and schedule an appointment to meet with the Director of Financial Aid. For more information you can view the video tutorial - FAFSA: Determining Your Dependency Status
If I don't have a copy of my tax transcripts, where can I get one?
• You may get a transcript of your tax return by visiting the IRS Web site at www.IRS.gov and requesting a transcript OR you may use the IRS Data Retrieval tool by logging into the FAFSA. For more information, see the Forms page on our website and view the Verification Info tab.
Why am I in verification?
• The Department of Education selects approximately one third of the student body to go through the verification process. If your FAFSA has been selected for this review, Lee University has the authority to request copies of certain financial documents from you and your parent(s).
How long does the verification process take?
• The process typically takes 2-3 weeks depending on when we receive the necessary documents.
What kind of aid is available?
• There are several sources of funding including Federal, State, institutional, private, etc. There are also several types of aid: grants are funds which do not have to be paid back; scholarships typically do not have to be paid back – but you should read the specific criteria for each scholarship; work programs require students to work in order to be paid; loans are funds which must be repaid. See the Lee University catalog for more information.
Where is the Financial Aid Office?
• The Financial Aid Office is located in the Higginbotham Administration Building Room 217.
What are the office hours for the Financial Aid Office?
• The doors are open from 9:00 a.m. until 4:00 p.m. during the fall and spring semesters. We do close for chapel on Tuesday and Thursday. We also close from 12:00 – 1:00 for lunch during summer and school holidays.
When will Endowment scholarships be awarded?
• Most endowment scholarships are awarded by March 1st.
Are there any discounts available for ministers or their children?
Are there any scholarships available for missionaries?
• Dependents of missionaries for the Church of God should contact the world missions department at the Church of God International Headquarters. Some Endowed Scholarships are designed specifically for children of missionaries. Information about these scholarships are located on the Financial Aid web site under Endowed Scholarships.
Where can I find scholarships?
• The first place you may want to check out is the scholarship search link on our website. Check local business and organizations in your area such as Papa Johns, Wal-Mart, Elks Club, etc… Guidance Counselors are also a great place to start for high school juniors and seniors. Also, the Financial Aid Office will send e-mail information on scholarships as we get them.
Federal Work Study is a need based program as determined by the results of a student’s FAFSA. Students commonly work 10 hours per week. The average pay is $7.75 per hour, and students are paid bi-weekly. Students can apply in the Student Employment Office or through Portico by selecting University Services, Student Employment Office.
Can my financial aid be used as a down payment at registration?
• Yes. Student Financial Services requires a down payment of fifty percent of the school bill to be paid at registration. Financial Aid can be used in place of or as part of the down payment; however, aid cannot be processed until the student’s file is complete with all required documentation.
Can textbooks be charged to student accounts?
• Book vouchers are handled through Student Financial Services. A book voucher may be issued when a student has enough financial aid (excluding work-study and loan fees) to completely pay his/her school account and still have a credit balance. For more information, see the Student Financial Services web site.
Are separate applications required for student and parent loans?
• Yes. Both the Federal Direct Loan and Federal Direct PLUS Loans are processed through the Department of Education but require a separate loan application to be completed. Also, each student receiving a loan must complete Direct Loan Entrance Counseling.
What is the difference between Federal Subsidized Stafford Loan and Federal Unsubsidized Stafford Loan?
• The government is responsible for the interest on the Subsidized Loan during periods of enrollment and grace periods. However, the borrower is responsible for the interest over the entire life of the Unsubsidized Loan.
When will loan applications turned in at registration be processed?
• Because of the large number of applications turned in at registration, 30 to 60 days should be allowed for processing time. The time may vary depending on the volume of loans.
Other than the standard grade level Federal Direct Loan, what loans are available?
• Possibly Unsubsidized Stafford Loan, Federal Direct PLUS loan or an Alternative Loan. Independent students are eligible for an Unsubsidized additional loan (up to $4,000 for Freshmen and Sophomores and up to $5,000 for Juniors and Seniors). Dependent students are not eligible for this program unless their parents have been denied a Federal Direct PLUS Loan. The Financial Aid Office must receive electronic notification from the Department of Education that the parents have been denied. In which case, dependent students have the same eligibility as independent students. Federal Direct PLUS Loans are taken out by the parents to pay for their child’s school costs. Alternative Loans can also be taken out to cover the remaining education costs. Often a co-borrower is required for these loans. For more information, see the Financial Aid Programs offered on the Financial Aid web site.
When do I have to repay my loan?
•Repayment begins six months after the student has ceased to be enrolled at least half time. If a student stays enrolled at least half time until graduation then repayment begins six months after graduation. The student will receive Direct Loan Exit Counseling material from Lee University and will receive repayment information from the Department of Education. See the Lee University catalog for more information on repayment.
For more information, you can view this informational video-Repayment: What to Expect.
Federal Student Loans Basics For Students?
• Here is a link for more information: Federal Student Loan Basics for Students
Direct PLUS Loan Basics for Parents
• Here is a link for more information: Direct PLUS Loan Basics for Parents
Repaying Your Loans
• Here is a link for more information: Repaying Your Loans
Exit Counseling Guide
• Here is a link for more information: Exit Counseling Guide
If I am withdrawing from all of my classes what should I do?
• The first step is going to the HUB. The second step is to go to the Financial Aid Office. Students are required to complete a withdrawal form and complete Direct Loan Exit Counseling online (if you borrowed Federal Direct Loans while attending Lee).
How can a student get Vocational Rehabilitation money?
• The student should apply at the Vocational Rehabilitation office in the city or county where they are from. Each state has different guidelines to determine which students are eligible, what benefits that they are entitled to, and if these benefits (money) can be transferred out of state. See the Lee University catalog for more information.
How can I get in touch with the Cleveland-Bradley County office?
• Their phone number is 423-478-0332.
When will the funds come in?
• Each state differs, however most student’s money comes in near the end of each semester. Check your account on Portico to see if it has arrived.
PO Box 3450
Cleveland, TN 37320-3450
(423) 614-8300 or 1-800-533-9930
Fax: (423) 614-8308
Monday - Friday 9:00 AM to 4:00 PM EST
Tuesday and Thursday - Closed for Chapel 10:30 AM to 11:30 AM EST