Applying for Financial Aid

Complete the FAFSA. 

Fill out the free application for Federal Student Aid (FAFSA). This is required to receive any federal aid as well as most Lipscomb aid. The FAFSA opens beginning October 1 each year. You'll also need to create a Federal Student Aid (FSA) ID.

The FSA ID is your electronic signature that allows you to “sign” forms like the FAFSA. Keep this ID in a safe place as you’ll need it to complete your FAFSA each year.

To ensure that your tax return information is entered correctly, use the IRS Data Retrieval Tool available in the Financial Information section of the FAFSA. After completing a few yes/no questions about your tax returns, if you are eligible to use the Data Retrieval Tool a box will show up that says "Link to the IRS." Click this button to access your tax information through the IRS website. The IRS Data Retrieval Tool can only be used for tax filers whose tax returns have been processed by the IRS.

Let us know where else your aid is coming from. 

Notify the Office of Financial Aid of any outside grants or scholarships. If you are receiving any benefits externally, the Office of Financial Aid can apply these awards to your bill as expected payments to help you satisfy your account. 

Complete any loan applications. 

Apply for a Federal Direct Loan, PLUS Loan or private loans. Please note that you may have to accept loans in order for them to be applied to your bill.

Federal Loans Information

Review and accept your awards. 

1. Log into your myLipscomb account using your username and password. 
2. Under the Launchpad section, select “Student Homepage,” then “Financial Aid Awards.”
3. To view and accept your award, click the drop down bar to enter the aid year. You can then view the different options. 
4. Accept the Terms and Conditions underneath the “Terms and Conditions” tab, and then click the “Accept Award Offer” tab to view your aid. 

Fulfill loan requirements.

Loan requirements can be completed by logging into studentaid.gov.

Federal Direct Loans: If you are a first-time borrower or a first-time borrower at Lipscomb, you must complete…

• Federal Direct Loan Entrance Counseling
• Federal Direct Loan Master Promissory Note (MPN)

Parent PLUS Loan: Once approved, the parent must sign the Master Promissory Note (MPN).
 

Complete the FAFSA. 

Fill out the free application for Federal Student Aid (FAFSA). This is required to receive any federal aid as well as most Lipscomb aid. The FAFSA opens beginning October 1 each year. You'll also need to create a Federal Student Aid (FSA) ID.

The FSA ID is your electronic signature that allows you to “sign” forms like the FAFSA. Keep this ID in a safe place as you’ll need it to complete your FAFSA each year.

Verify your admission status.

Check to verify that your admission status is current with the university and that you have completed the registration process for your classes. Lipscomb University cannot review your FAFSA results or offer you Federal Direct Loans without your acceptance into the university.

Review and accept your awards.

Once you have been accepted into the university, you will receive a Lipscomb ID number and access to myLipscomb. To register for classes and accept your offered Federal Stafford Loans, visit your myLipscomb account.

1. Under the Launchpad section, select Resources, then Financial Aid.
2. To view and accept your award, click My Award. You can then view the different options.
3. Select the Accept Award Offer tab to view and accept your aid.

You can only accept your award offer and amount one time.  Any corrections to the requested amount must be submitted to the Financial Aid Office via email (financialaid@lipscomb.edu).

Any loan amount specified will be equally divided between the fall and spring semesters.  If you need loans for only one semester, you must submit your request to the Financial Aid Office via email. Your requested loans will appear as an “Expected Payment” on your student account until the funds are received by the school, which is usually within 30 days of the first day of class.