If your family is like most, you will draw upon a combination of savings, assets, and current income to finance your education. We understand, however, that for many people these resources are not enough to cover the entire cost of a Lawrence education. Our need-based financial aid program can assist in making a Lawrence education affordable.
Aid awards typically include gift money, in the form of merit scholarships and need-based grants, and self-help dollars provided through federal loans and work-study. Eligibility for need-based assistance (grants, loans, and campus employment) is determined by a standardized calculation that takes into account your household's income and assets, the number of individuals supported by your household, the age of your older parent, and the number of household members currently enrolled full time in an undergraduate college.
The data collected from the Free Application for Federal Student Aid (FAFSA), the Lawrence Application for Financial Aid, and your household tax returns will be used to determine the ability of your family to contribute toward your college expenses. This is called your Family Contribution, which consists of funding not only from your parent(s), but also from your assets and summer earnings.
To determine the amount of aid for which you qualify, we deduct the family contribution from the full cost of attendance, which includes tuition and activity fee; room and board; and transportation, books, and living expenses. Not all schools use such a complete budget in determining need. You will want to ask the colleges to which you are applying what is included in the cost of attendance and what other expenses you might incur.
A financial aid package includes various types of financial assistance. These types of aid are drawn from Lawrence funds, federal and state funds government funds, and private funding sources.
Lawrence University Grants
Grants are based on demonstrated financial need. The dollar amount varies depending on your individual household circumstances. You must apply for grant consideration on a yearly basis, submitting the FAFSA, the Lawrence Application for Financial Aid, and applicable tax forms. This annual review will gather up-to-date information about your household. Grant funds are not automatically renewed at the same dollar level each year, but will remain consistent with your demonstrated financial need.
Federal Grants
These awards are based on demonstrated financial need as determined by a calculation established by the federal government. Federal Grants students may be eligible to receive at Lawrence University include the Federal Pell Grant, the Federal Supplemental Educational Opportunity Grant (SEOG), the Academic Competitiveness Grant (ACG), and the SMART Grant. The Pell Grant and SEOG are based strictly on financial need; however the ACG and SMART grants are tied to additional eligibility factors.
State Grants
If you are a Wisconsin resident, you may be eligible for a Wisconsin Tuition Grant, which provides up to $2,900 if you enroll at Lawrence. To be considered for this grant, you must file the FAFSA. Also, Vermont, Rhode Island, Pennsylvania, and the District of Columbia provide grant money to residents to attend out-of-state colleges. You should contact your state agency to determine eligibility for these awards.
Federal Direct Stafford Loan/Federal Perkins Loan
These long-term, low-interest loans allow you to use your future earning potential to offset some of your present educational costs. In the case of need-based loans, the government pays the interest on the loan while you are in school. Eligibility for federally sponsored loan programs requires that you and your parent(s) complete and submit the FAFSA.
Federal Work-Study and Lawrence University Campus Employment
A wide array of on-campus positions are available on an annual basis. You will be paid directly every two weeks for the number of hours of work completed and may use these earnings as a payment against any outstanding balance on your account or for other incidental educational and personal expenses.
