Financial Aid
The Financial Aid office helps students seeking financial assistance meet their educational expenses at LWTech. Students need not be low income to qualify for some types of financial assistance. Students may apply for most types of financial aid by completing the FAFSA (Free Application for Federal Student Aid).
Apply Early
Since the FAFSA must be submitted annually, it is advised that students apply as soon as possible after October 1st before the year they will be attending LWTech (for example October 1st, 2017 for the 2018-2019 academic year).
Apply by or before the priority deadline date for the quarter you wish to attend. Due to the tremendous volume of applications each year, processing time has been as long as 12 weeks or more from the date an application is completed. We appreciate your patience and understanding.
Students Must Re-Apply Each Year for Aid
If you received aid in 2017-2018, you must complete a new FAFSA for the 2018-2019 award year (Summer Quarter 2018 through Spring Quarter 2019) to receive aid during this time. If you are receiving student loans, a new Direct Loan Request form must also be completed.
Email Notifications
Financial Aid sends notices and communications by email to the address you provided on your FAFSA. If you change your email address, be sure to let the Financial Aid office know.
Workshops
FAFSA/WASFA Online Workshop
Need help completing your FAFSA or WASFA? A Financial Aid advisor can help you apply online.
Dates
April 12 - June 21, 2018
Thursdays, 2:30 p.m.
W113, West Building
What to Bring
2017-2018 Application: 2018 Spring quarter
- 2015 tax return
- W2s
- Parents' tax information if dependent
- Non-filers may need to report 2015 untaxed income totals; please bring documentation with you.
2018-2019 Applications: 2018 Summer quarter through 2018 Spring quarter
- 2016 tax return
- W2s
- Parents' tax information if dependent
- Non-filers may need to report 2015 untaxed income totals; please bring documentation with you.
State Financial Aid for DREAMers
Eligibility for several Washington State financial aid programs has expanded to include students who are ineligible for federal financial aid due to immigration status and meet the following eligibility requirements:
- Have graduated (or will graduate before beginning college) from a Washington State high school or obtained a GED or equivalent
- Have lived in Washington for three years prior to, and continuously, since earning the high school diploma or equivalent
- DACA students who are Washington state residents may also be eligible
Readysetgrad.org is a project of the Washington Student Achievement Council. For more on financial aid and college readiness, visit readysetgrad.org, your resource to find, pay for, and complete the educational path that’s right for you.
Financial Aid FAQs
How do I receive my financial aid?
Please refer to the Aid Disbursement for more information.
How do I get a reevaluation if my income has changed?
If your projected income for last year will be substantially reduced as compared to your income from the previous year, you may submit a Request for Reevaluation for the current academic year, along with supporting documentation noted on the form.
What is the "Expected Family Contribution" and what is it used for?
The federal government and the Department of Education determine the process used to calculate a student's eligibility. The student's and their spouse's income (or parent's income, if the student is considered a dependent student by federal guidelines) from 2014 (for the 2015/16 year) and from 2015 (for the 2016/17 year) is used as the basis for determining a student's "EFC" or Expected Family Contribution. This figure helps determine the need and amount of aid a student may receive. If a student feels their financial circumstances have changed significantly from the preceding year (i.e. loss of job, etc.) the student should contact the Financial Aid office.
Can I get tax credits for educational expenses?
Tax Credit Eligibility
The federal government allows you to claim tax credits for certain educational expenses through programs known as the Lifetime Learning tax credit and the American Opportunity tax credit. After the end of each tax year, Lake Washington Institute of Technology (LWTech) sends the Internal Revenue Service (IRS) form 1098-T to students who may qualify for federal tax credits. The form lists out-of-pocket tuition and related expenses.
It is the responsibility of the student or other taxpayer to determine actual eligibility for tax credits.
As a college, we cannot provide you with tax advice. You may wish to find out if you might be eligible by reading information on these websites:
- IRS Frequently Asked Questions for Child Care Credit/other Credits
- IRS Frequently Asked Tax Questions and Answers
- IRS Publication 970, Tax Benefits for Education
You may also wish to consult the IRS or a tax accountant for help. Your own check receipts, credit card statements, or copies of receipts showing tuition and fees paid at the time you registered may support your claim.
Verifying the Amount of Your Qualifying Expenses
You can view your IRS form 1098-T statement [student ID and PIN required] online starting at the end of January each year.
However, the form that is printed and mailed to you may not reflect up-to-date information on student loans or other data.
Therefore, we strongly encourage you to double-check the dollar amount on the 1098-T form.
