Cost and Financial Aid
The process of applying for financial aid can be overwhelming the first time. We realize this and would like to assure you that we can help you through the process.
Each year, we award more than $10 million in institutional scholarships and grants and award more than $25 million annually in financial aid. When you factor in grants, scholarships, federal and state assistance, loans and work-study, your cost can often be equal or less than a public four-year college.
Complete the 2020–21 FAFSA now! The Free Application for Federal Student Aid (FAFSA) is completed online at www.fafsa.gov and will serve as your application for all federal, state and institutional financial aid. Your FAFSA will be processed by the federal government, shared with the state governments and then forwarded to the colleges you list on the application.
Lees-McRae College should be listed on your FAFSA along with our school code of 002939. The Lees-McRae priority filing deadline is March 31. Once Lees-McRae receives the results of your FAFSA, your individual file will be reviewed and a financial aid package prepared specifically for you.
The 2020–21 FAFSA uses financial information from the 2018 tax year. Applicants will be able to retrieve their data directly from the IRS by using the IRS Data Retrieval Tool (DRT). The IRS Data Retrieval Tool has enhanced security and will limit the information that displays to the applicant. The information comes directly from the IRS and is accurate.
Packaging for new Fall 2020 students begins late December and continues on a rolling basis throughout the spring. After reviewing the package, you have the opportunity to accept or reject each individual type of assistance being offered.
Financial Aid Timeline
September–June
Apply for admission to Lees-McRae College. Be sure to include ACT/SAT test scores and your official high school transcripts. Pay your $250 enrollment deposit. This enrollment deposit is applied toward your first semester’s tuition payment and is refundable until May 1.
October 1
File the 2020–21 FAFSA (Free Application for Federal Student Aid) using 2018 federal tax information. Complete the FAFSA online at www.fafsa.gov. Be sure to include the Lees-McRae school code of 002939 and make sure that you use the IRS Data Retrieval Tool to import financial information from your 2018 federal tax returns. Learn more about the IRS DRT
October–May
We strongly encourage you to pursue private funding through scholarship search tools online.
Check out our Additional Resources page
November–July
Additional information may be requested by the Office of Financial Aid in order to complete your financial aid package. Once we have all the necessary items to complete your file, we will provide you with a Financial Aid Award Notification which will outline all the sources of funding for which you are eligible. Financial Aid Award Notifications and all related paperwork must be signed and returned to the Office of Financial Aid within two weeks of receipt.
May 1
Confirm your intended enrollment and make the $250 enrollment deposit if you haven’t already done so.
June–July
Summer orientation and registration takes place which allows you to choose your classes for the coming year, see your residence hall, and become more acclimated to our campus.
Late June–July
Loan processing begins in the Office of Financial Aid and invoices for the fall semester are available in Montibus.
First Friday in August
The fall semester payment is due.
August
Fall orientation and fall classes begin.
Late November
Invoices for the spring semester are available in Montibus.
First Friday in January
The spring semester payment is due.
View the continuing student financial aid timeline