Overview

The Finance Department at LACM Online assists eligible students in finding appropriate funding to meet their educational goal. LACM Online participates in Title IV from the U.S. Government’s Federal Student Aid program. The aid consists of grants and loan opportunities. To be eligible, students must enroll in one of LACM Online’s eligible programs and be diligent regarding previous student loans. Students will not be considered for federal aid if they have previously defaulted or exceeded the annual/aggregate student aid loan limits. The Financial Aid Administrator simplifies the process of identifying and applying for grants, loans and work-study funds, helping students along the path through college. Alternative forms of financial assistance are also available. Regardless of source, the College encourages students to make every effort to minimize their reliance on student loans, as those loans will ultimately require repayment. Financial aid is available to those who qualify and provides an equal opportunity to all students.

Applying for Financial Aid

Prospective students are strongly encouraged to complete the financial aid process. Federal financial aid applicants must meet the following criteria:

  • Evidence of qualified financial need
  • U.S. Citizenship or eligible non-citizen status
  • Valid Social Security number
  • Registration with the Selective Service
  • Not in default on any federal educational loan
  • No outstanding repayment due on a federal educational grant

If selective service registration is required, students must be registered to receive financial aid. Supporting documentation may be required. Applicants to LACM Online may receive an initial financial aid packet during their financial aid overview. This packet includes pertinent forms related to the financial aid application process. We encourage applicants to complete the Free Application for Federal Student Aid (FAFSA) online. Please contact 1-800-4FED-AID (800-433-3243) if you have FAFSA submission questions.

Supporting documentation may be required to complete the financial aid application, including, but not limited to:

  • U.S. IRS Federal Tax Transcripts (if required to file a tax return) and/or W-2 forms/IRS DRT
  • Verification worksheet
  • Statements from any agencies from whom the applicant has received benefits

Federal regulations prohibit offers of financial aid to any individual who under IRS regulations is delinquent in filing a federal tax return. If a tax return has not yet been filed but is not delinquent, estimates may be used when applying. However, it is the student /parent responsibility to make sure they file in a timely manner.

Eligibility Criteria

Financial need is determined by applying a formula to the information provided in the student’s FAFSA. The formula determines the Expected Family Contribution (EFC). The EFC is the amount of money the applicant and family are expectedto be able to contribute toward the applicant’s educational expenses and is used to determine the amount of federal student aid the applicant may obtain. LACM’s Financial Aid Administrator will calculate financial need, using the following formula:

FINANCIAL NEED = COA – EFC – FPG – OTHER

COA = Cost of Attendance

EFC = Expected Family Contribution

FPG = Federal Pell Grant (if eligible)

OTHER = All Other Aid/Resources

The Expected Family Contribution (EFC) is a projection of funds determined to be available for the cost of attendance and other financial obligations.  Eligibility is determined one award year at a time. Students should renew their FAFSA applications annually as soon as possible after January 1. VA policy requires that VA benefits be terminated if a student fails to maintain satisfactory academic progress for two consecutive terms. The US Department of Education conducts database matches to determine whether a student meets certain eligibility criteria for financial aid. The result of these matches will appear on your Student Aid Report (SAR). These include matches with: Selective Service, National Student Loan Data System (NSLDS), US Citizenship and Immigration Services (USCIS), Department of Veterans Affairs (VA), and Social Security Administration (SSA). LACM Online will only disburse financial aid if a student successfully passes all database matches. If there is failure of any database matches, LACM Online cannot disburse ANY type of financial aid until the status from these matches has been confirmed and resolved. Failure to resolve any conflicting database matches during the federally required time frame will result in cancellation of estimated financial aid awards.

SATISFACTORY ACADEMIC PROGRESS AND FINANCIAL AID ELIGIBILITY

Students must maintain Satisfactory Academic Progress (SAP) to remain enrolled at Los Angeles College of Music. Per federal regulations, financial aid recipients are required to maintain SAP toward their degree or diploma program in order to maintain financial aid eligibility. SAP is determined by:

  1. Cumulative Grade Point Average (CGPA): Students must maintain a minimum CGPA of 2.0 throughout their enrollment. CPGA is reviewed at the end of each quarter.
  2. Incremental Completion Rate (ICR) of 67%: Students must stay on pace. ICR is calculated by dividing the total attempted credits by the total earned credits. Your ICR must be above 67% in order to maintain SAP.
  3. Maximum Time Frame (150%): Students must complete all graduation requirements within 150% of the length of the degree or diploma, e.g., complete the 90 credit degree within 120 attempted credits.

Academic Warning

Students who fail to meet or exceed any of the SAP Standards for the first time will be placed on Academic Warning. Students in Academic Warning are given one additional quarter of enrollment and financial aid eligibility to meet SAP Standards. Students must meet with their Academic Advisor to create an Academic Recovery Plan.

Dismissed with Appeal and SAP Probation

Students who fail to meet SAP Standards after being on Academic Warning will be dismissed with an option for appeal. If the appeal is granted, students will be placed on SAP Probation for the subsequent quarter and will still be eligible for financial aid. If the appeal is not granted, the student will be dismissed from LACM Online. The student will have an opportunity to reapply to LACM Online in one year.

Academic Dismissal

Students who fail to meet SAP Standards after being placed on SAP Probation will be dismissed from LACM Online with no option to appeal. The student will have an opportunity to reapply to LACM Online in one year.

For Part-Time Enrollment: In order to remain in their program, part-time students at LACM Online must demonstrate “Satisfactory Academic Progress” (SAP) which is a function of the following components:

  • Achieve the minimum Incremental Completion Rate of 67%: Incremental Completion Rate (ICR) is calculated by dividing the total credits a student completed per quarter by the number of credits attempted per quarter. When this calculation falls below 67%, a student is no longer on pace to graduate on time and is ineligible to receive financial aid.
  • Meet the minimum 2.0 Cumulative GPA Requirement.
  • Complete the program within the maximum allowable time frame.

— Diploma (approximately 60 credits): within 10 quarters

— Associate (approximately 90 credits): within 15 quarters

Students failing to maintain SAP requirements will be dismissed with the opportunity to appeal. LACM Online reserves the right to modify the Satisfactory Academic Progress policy at any time.

Los Angeles College of Music's Relationship with Students

The following deadlines, regulated by the U.S. Department of Education, will be followed at LACM Online. If Verification documents are not provided as soon as possible but no later than the end of the quarter/ term in attendance, the student may become a cash paying student and tuition may be due immediately.

Private and Public Agency Grants and Scholarships

Students should consider applying for scholarships and grants offered by private and public agencies around the country. Information on grants and scholarships can be obtained at public or collegiate libraries. There are several excellent research sites on the Internet, such as www. salliemae.com under “Plan for College” tab, www.finaid.org and www.fastweb.com. In addition, LACM Online offers excellent scholarships and need-based grants. The Student Finance Department makes every effort to inform students of available outside resources and deadlines. The College cautions students to avoid any scholarship research service that promises to locate sources for a fee.

Notice to Recipients of Federal Grants and Loans

The Higher Education Amendment of 1998 requires continued eligibility for federal grants and loans to be based on a student’s satisfactory academic progress and successful completion of the studied program. If a student withdraws from school, the amount of financial aid available to pay expenses will be prorated based on the amount of time spent in attendance (If the student has completed 60% or less of the quarter. LACM Online must return excess funds to Title IV programs in the sequence required by the U. S. Department of Education. Students should be aware of the remaining responsibilityfor all appropriate charges not covered by Federal Student Aid due to withdrawal.

LACM Online Need-Based Grants

LACM Online is proud to offer need-based grants to qualifying applicants (such as educationally and economically disadvantaged students).

  • Applicants must maintain GPA standards
  • Meet all financial need eligibility requirements
  • Applicants will be notified by email regarding the grant committee’s decision, all decisions are final
  • Only complete applications, including complete financial information, will be considered for an Institutional Grant
  • Will be accepted up to 4 weeks before a quarter’s start date. Applicants are encouraged to apply early, as funds are limited

Processing Procedures

Financial aid applications will be processed in the order received. Submitting the applicationby LACM Online’s stated deadlines is essential to have timely processing. Only complete files containing the required documentation will be processed. A financial aid file is complete only after the following documents and information have been received:

  • Confirmation of Admission status in an eligible program.
  • A valid FAFSA containing LACM Online’s federal school code 038684 (LACM).
  • Any other documentation requested by the Financial Aid Office required for completion of the verification process. For up-to-date FAFSA and verification procedures please visit: https://fafsa.ed.gov/help.htm . Financial aid awards are for one academic year and it is the responsibility of the student to reapply each year if additional aid is needed.