Procedure 5.11.2 - Financial Aid Deferments for Textbook Purchases

Part 1: Purpose

The following directions are to be followed by Lake Superior College to establish consistent procedures for students to add the cost of textbooks and required course materials purchased at the Lake Superior College Store to the existing financial aid deferment or payment plan for tuition and fees. This procedure is in accordance with the Laws of Minnesota 2007, Chapter 144, Art. 1, Sec. 4, Subd. 3(a).

Part 2: Guidelines

The Lake Superior College Store, in coordination with the Business Services and Financial Aid offices, records the purchases of textbooks and required course materials accurately on student accounts so financial aid and payment arrangements can be applied to said purchases.

Students who have been awarded financial aid and have been approved to use that aid toward the purchase of textbooks and materials, are not required to pay for course materials and textbooks until financial aid has been applied to their student account.

Financial aid, including loans, will first be applied to tuition and fees when determining the amount available for textbooks and course materials. If financial aid funding is not enough to cover tuition, fees, and books, the student will ultimately be responsible to cover these costs.

On an annual basis, Lake Superior College shall publish and disseminate to students the process and eligibility requirements for textbook and course material purchase deferment.

History

Date of Implementation: February 27, 2014

Date of Review/Revisions: April 22, 2021

President's Signature Date: May 17, 2021