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What is Lincoln University (LU) Financial Clearance?
For every student, Financial Clearance (FC) means demonstrating your intent to pay all:
- meal, and
- related charges for a given semester.
Financial clearance can mean different things for different students. For some, it may mean creating a payment plan. For others, it may mean completing the FAFSA, and/or submitting proof that a third party such as the VA, Voc. Rehab, an employer, 529 plan, or other third-party payer is paying all or a portion of their semester charges.
FC does not mean that you have to be paid in full by the payment due date to be cleared to attend classes and/or reside on campus. It simply means that each student should take the required steps necessary to either pay their charges in full or make arrangements to cover their total LU charges for the given semester.
Each student will receive an email with personalized Financial Clearance instructions after each term’s charges have been billed.
Beginning with the fall 2020 semester, all students will be required to electronically sign a Student Financial Responsibility Statement (FRS) as a step in the Financial Clearance process.
Are Financial Aid & Financial Clearance the same?
Financial aid and financial clearance are NOT the same.
If you are planning to use financial aid to help cover expenses, financial clearance happens AFTER your financial aid package is completed. This will include submitting all required paperwork; accepting or declining loans; completing entrance counseling; and signing the Master Promissory Notes.
We encourage students to complete their financial aid requirements at least two weeks before they need to be financially cleared. If you have not completed a FAFSA you should visit www.studentaid.gov.
Questions regarding Financial Clearance should be directed to the Bursar’s Office.
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