Applying for financial aid doesn’t have to be difficult! Learn the ground rules by browsing these frequently asked questions.
My parents aren't helping me pay for college. Do I need parental information on the FAFSA?
Even if your parents don't contribute money toward your education, you are considered a dependent of your parents and need their information unless you can answer yes to any of these questions.
I received my Award Letter and did not get enough money to pay my tuition and fee bill. Is there any additional funding available to help with the costs?
Yes, there are additional loans that can provide additional assistance for students.
Lake Area Technical Institute Federal School Code for the FAFSA is 005309
Sometimes the hardest part about completing the FAFSA is figuring out which parent(s) information to use, especially if your parents have divorced and possibly remarried.
Your biological and/or adoptive parents are considered your legal parents. Grandparents, foster parents, legal guardians, older brothers or sisters, and aunts and uncles are not considered parents unless they have legally adopted you.
Use the table below to determine whose information to provide on the FAFSA based on your parents' marital status.
|Parents' Marital Status:||Provide Information for:|
|Never Married||The parent that you lived with most during the last 12 months. If you did not live with one parent more than the other, provide information about the parent who provided more financial support during the last 12 months, or during the most recent year that you actually received support from a parent.|
|Unmarried and both parents living together||Both of your parents|
|Married||Both of your parents|
|Remarried (after being widowed or divorced)||Parent and Stepparent|
|Divorced or Separated||The parent that you lived with most during the last 12 months. If you did not live with one parent more than the other, provide information about the parent who provided more financial support during the last 12 months, or during the most recent year that you actually received support from a parent.|
For additional clarification, please contact the Financial Aid Office and we can help you determine the correct information to use.
If you are eligible for and take out a subsidized loan, the federal government will pay the interest for you while you are in school.
If you are eligible for and take out an unsubsidized loan, you are responsible for all the interest that accrues. You will have the option of either paying the interest as it accrues or capitalizing the interest (adding it to the principal balance). If you choose to pay the interest back as it accumulates you will pay less in interest overall. You will begin repayment six months after you cease to be a student (at least half-time).
Yes. You need to fill out either a FAFSA or a Renewal FAFSA for the academic year for which you would like to receive federal financial aid. After the first year you fill out the FAFSA, you should receive a Renewal Reminder E-Mail Notification from Federal Student Aid. Complete the FAFSA or Renewal FAFSA online at www.fafsa.gov and use your PIN (student and parent) available at www.pin.ed.gov.
Our priority date for completing the FAFSA is April 1.
The LATI Foundation Scholarship application has an April 1 deadline date.
Verification is not an audit! If you are selected, it doesn’t necessarily mean you did something wrong. The Federal Processor selects about 30% of applicants for verification, which requires the school to obtain documentation to verify the accuracy of the FAFSA information.
HINT – If you and your parents are eligible to use the IRS Data Retrieval Tool feature of the FAFSA, use it! This will automatically populate tax information directly from the IRS into your FAFSA.