Financial Aid| at Lake Erie College

At Lake Erie College, we believe cost should never be a barrier to opportunity. Our Financial Aid Office is here to help you understand and access the resources available to make your education affordable.

How It Works

Once you’ve been accepted to Lake Erie College and submitted your Free Application for Federal Student Aid (FAFSA), our Financial Aid Office reviews your information to determine your eligibility for the various types of funding. We then combine that information into a Financial Aid Notification—a personalized overview of the aid you qualify for. Lake Erie College's FAFSA code is 003066.

Scholarships and Grants

Scholarships and grants are considered gift aid—funding that does not require repayment. These awards come from a variety of sources, including federal, state, institutional, and private organizations.

Federal Pell Grant

The Federal Pell GrantFederal Pell Grant program assists undergraduate students who have not yet earned a bachelor’s degree and demonstrate financial need, as determined by federal guidelines based on the results of the FAFSA.

Federal Supplemental Educational Opportunity Grant (SEOG)

Funded jointly by the federal government and the College, the SEOG provides additional assistance to students with exceptional financial need. Due to limited funding, we strongly encourage early application.

Federal TEACH Grant

The Teacher Education Assistance for College and Higher Education (TEACH) GrantTeacher Education Assistance for College and Higher Education (TEACH) Grant provides up to $4,000 per year for students pursuing a career in teaching. Recipients must agree to teach full-time for at least four years in a high-need field at a qualifying school. If these requirements are not met, the grant converts into a federal unsubsidized loan.

Ohio College Opportunity Grant (OCOG)

Administered by the Ohio Department of Higher Education, this program provides grant funds to Ohio residents with the highest levels of financial need as determined by FAFSA results.

Lake Erie College Merit Scholarships

Lake Erie College recognizes academic excellence through a variety of merit-based scholarships awarded at the time of admission. These scholarships are based on your high school GPA, standardized test scores (if submitted), and overall academic achievement.

Specialty Scholarships

In addition to merit awards, Lake Erie College offers a number of specialty scholarships that recognize unique talents, backgrounds, and areas of study. These scholarships often require additional materials, such as essays, auditions, or recommendation letters.

Examples include:

• Twin Scholarship – Half tuition for each twin

• Legacy Scholarship – $2,000 for children/grandchildren of alumni

• Equine Talent Scholarships – Based on equine skill and experience

• Athletic Scholarships – Available for NCAA Division II student-athletes

Students interested in specialty scholarships should contact the Office of Admission or visit LEO > Financial Aid for application details and deadlines.

Outside Scholarships

If you’ve been awarded a scholarship from a club, organization, or high school, let the Financial Aid Office know right away. Donors usually send funds directly to the Financial Aid or Bursar’s Office for posting to your account.

Pro Tip: Start local! Your best chance of earning outside scholarships often comes from community organizations, local businesses, and schools. And remember—never pay for a scholarship application.

Here are a few trusted search tools to help you get started:

• FastwebFastweb

• College Board Big Future Scholarship SearchCollege Board Big Future Scholarship Search

• Sallie Mae Scholarship SearchSallie Mae Scholarship Search

• Peterson’s Scholarship SearchPeterson’s Scholarship Search

• College Now (for Northeast Ohio residents)College Now (for Northeast Ohio residents)

• LEAF – Lake/Geauga Education Assistance FoundationLEAF – Lake/Geauga Education Assistance Foundation

• Maltz Museum “Stop the Hate” Essay ContestMaltz Museum “Stop the Hate” Essay Contest

Student Loans

Loans are borrowed funds that must be repaid with interest. Before borrowing, consider your total need and your ability to repay after graduation.

Federal Direct Loan (Subsidized/Unsubsidized)

Available to undergraduate and graduate students enrolled at least half-time with a submitted FAFSA.

• Subsidized loans are need-based, and the U.S. Department of Education pays interest while you’re in school and during your 6-month grace period.

• Unsubsidized loans are available regardless of need, but interest accrues while you’re enrolled.

Interest Rates:

• Undergraduate: 6.39%

• Graduate: 7.94% Loan Fee: 1.057% Repayment: Begins 6 months after graduation or dropping below half-time; standard 10-year term.

Loan limits vary based on dependency status and grade level.

Federal Direct PLUS and GRAD PLUS Loans

Parents of dependent undergraduates or graduate students can apply for PLUS Loans to help cover remaining educational costs. Learn more here.Learn more here.

• Interest Rate: 8.94%

• Fee: 4.228%

• Repayment: Standard 10-year term, with the option to defer while the student is enrolled.

Private/Alternative Loans

Private education loans are offered by banks and credit unions and typically require credit approval, as well as a co-signer for undergraduates. Loan terms vary by lender. Lake Erie College provides a Private Loan Comparison ToolPrivate Loan Comparison Tool that lists lenders frequently used by our students—but you’re always free to choose any lender that meets your needs.

Federal Work Study

Work Study provides part-time, on-campus jobs to help students earn money for educational expenses.

• Funded primarily by the federal government

• Limited to 20 hours per week

• Paid bi-weekly directly to the student

To explore current openings, contact our Career Services Department.