TYPES OF FINANCIAL AID

There are four types of Financial Aid:  Grants, Scholarships, Work Study, and Loans.  Listed below is more detailed information about each type of aid.

Grants

Grants are a type of financial aid a student receives based income information reported on the FAFSA.  The source of a grant may be through the federal government or state government.  To apply for all grants a student should complete the FAFSA by LSUA's priority deadline of March 1st prior to the start of a Fall Semester and submit all additionally requested information to the LSUA Financial Aid Office by May 1.  Any additional requested information will be listed only in the student's Net Partner Account.  Students must also meet  Satisfactory Academic Progress standards to be considered eligible for grants.  

2019-2020 Pell grant chart

2019-2020 Pell grant chart - 100% online programs

While there are a number of Grant programs, the Federal Pell Grant is the only guaranteed grant program.  Students interested in applying for all grants processed through LSUA's Financial Aid Office must: complete the FAFSA; submit all paperwork requested as listed in the student's Net Partner Account; and maintain Satisfactory Academic Progress

Scholarships

Scholarships are another free source of financial aid that is awarded based on a variety of criteria such as academic performance, leadership, community involvement, etc.  Scholarships may be awarded by the university or through an outside agency. 

Beginning the Fall 2014 semester all on campus students will be considered for the LSUA Academic Scholarship.  The scholarship will be based on your official academic credentials (SAT/ACT & GPA) and is contingent upon your application and acceptance.  First time freshmen can click here to see what you qualify for. Transfer students with a 2.5-2.9 GPA qualify for $1000 per year and with a 3.0+ GPA qualify for $1500 per year. 

In addition to scholarships offered through LSUA, students are encouraged to apply for scholarships through various businesses, community organizations, family employers, etc.  We strongly encourage students to continuously search and apply for as many external scholarships they can find. As with anything done on the internet please take heed to avoid scholarship scams. You should never have to pay to apply for a scholarship as well as provide information like SSN's, etc. 

Check out The College Monks blog on how to avoid scholarship scams: https://www.thecollegemonk.com/scholarship-scams/b/217

Here are a few trusted links for additional scholarship search engines and scholarship opportunities:

Search Engines:

Individual Scholarship Opportunities:

***Important note: LSUA Scholarships are not available for any 100% online degree programs.***

***Important note:  There are many scholarship scams out there. Do not ever pay money to apply for a scholarship***

TOPS

Fall 2019 & Spring 2020 - Full time* = $2447 per semester. 
Tops Performance stipend =  $200 per semester 
Tops Honors Stipend = $400 per semester

Students must be enrolled full time (12 credit hours) as of the census date each semester in order to receive their award. Students in clinical courses or student teaching are exempted from this rule and may still receive their award at a prorated rate.

Students in 100% programs (ex: Fall 2/ Fall 3) will have their TOPS award paid in full during the first term of the semester. Please keep this in mind if a refund is received as it may need to be applied to your next term balance. 100% online students must also be enrolled in 12 hours to receive TOPS for the semester. How you break this up between the terms is up to you but your hours must total 12 or more between the 2nd and 3rd term through the census day of both terms.

TOPS TECH: Students must be enrolled in either the Associate of Science in Radiologic Technology, Associate of Medical Laboratory Science, or the Associate of Science in Nursing programs. Only students in these programs that graduated high school Spring 2017 and beyond are eligible for Tops Tech in the below amounts.

AS Nursing / AS MLS = $1190 per semester
AS Rad Tech = $2447 per semester

TOPS Tech is valid for up to 4 semesters.

TOPS Opportunity, Perfomance, and Honors are valid for up to 8 semesters.

Work Study

LSUA receives very limited funds to award students jobs through the Federal Work Study Program.   To qualify for a work study award, a student must demonstrate financial need as determined by information reported on the FAFSA and other types of financial aid the student may be receiving.  Students must also meet Satisfactory Academic Progress.

To apply for a campus job, students need to:

Loans

Loans are a resource to assist in paying for the costs of going to college in which a student or parent borrows money that must be repaid.  Student loans are a type of financial aid and subject to many of the same criteria as all other federal aid programs.  It is important to remember that student loans must be repaid.

To receive a student loan at LSUA students must complete the FAFSA, enroll in at least a half time status of eligible hours (see the Federal Funds Info document for details on eligible courses), and be maintaining Satisfactory Academic Progress. Students cannot exceed their lifetime loan limits of $31,000 for Dependent student and $57,500 for Independent students. As well as loans cannot exceed annual limits or annual/semester cost of attendance budgets. Annual limits are as follows:

Freshmen (0-29 earned hours): Dependent = $5500 Independent  $9500
Sophomore (30-59 earned hours):  Dependent = $6500   Independent = $10500
*students in Certificate or Associate programs cannot be awarded above the sophomore level, regardless of the number of earned hours)
Juniors/Seniors (60+ earned hours Bachelor/Post Bach programs only): Dep = $7500 IND = $12,500

The main loan program that LSUA students participate in is the Federal Direct Loan Program.  Direct loans include Stafford Loans borrowed by the student and Parent PLUS loans borrowed by the parent of a dependent student.  For additional information regarding the Federal Direct Loan Program visit studentloans.gov


LSUA FEDERAL LOAN STATISTICS

SUBSIDIZED USAGE LIMITS (SULA):

First time borrowers as of July 1, 2013 are limited to how much they can receive in subsidized loans, on top of the aggregate subsidized loan limit. Students may only receive subsidized loans for up to 150% of their published program length. This means that if you are in a 4 year degree, you have 6 years of subsidized loan eligibility (or up to your lifetime limit). Say you use 5 years then change your major to a 2 year degree. A 2 year degree has a SULA eligibility period of 3 years, meaning you will no longer be eligible to receive subsidized loans. This may also result in a loss of subsidy, meaning the interest is no longer being paid by the Department of Education. 

To see other scenarios (such as not graduating within your 150% timeframe) where you may lose the subsidy on your loans please see HERE.

Steps to Apply for a Federal Direct Student Loan

Before a student may complete the Online Loan Application, LSUA must have received a processed a current FAFSA for the student. LSUA will award the maximum eligible loan amount available to each student. You may complete the below application if you have declined that award, reduced it, or do not yet see it in your Netpartner accept awards tab.

 

The following steps will guide a student on how to access the LSUA Online Student Loan Application:

  1. Log in to your MyLSUA Account
  2. Click on the STUDENT button located in the top right of the screen
  3. Click on the apply for a Student Loan link
  4. Carefully read and follow all online instructions to complete the application
  5. Complete a Direct Loan Entrance Counseling Session online
  6. Complete a Direct Loan Master Promissory Note online

Click here to access the LSUA Parent PLUS Loan Application 

All loans are subject to an origination fee prior to disbursement that is removed from the gross amount. Below are the Interest rates and origination fees for the past and current year.

Origination Fees:

Award

First disbursed on or after 10/01/2018 and before 10/01/2019

 

First disbursed on or after 10/01/2019 and before 10/01/2020

Direct Subsidized

1.062%

1.059%

Direct Unsubsidized

1.062%

1.059%

Direct PLUS (parent)

4.248%

4.236%

 

Interest Rates:

Award

2018-2019

First disbursed on or after 07/01/2018 and before 07/01/2019

2019-2020

First disbursed on or after 07/01/2019 and before 07/01/2020

Direct Subsidized

5.05%

4.53%

Direct Unsubsidized

5.05%

4.53%

Direct PLUS (parent)

7.60%

7.08%

 
NON FEDERAL STUDENT LOANS;

If you are not eligible for any reason to receive Federal Stafford or PLUS loans you may wish to apply for a private student loan through an outside lender. Many lending institutions offer student loans, while the eligibility criteria differs for each financial institution, all are credit based. There is no limit to the amount you may be approved for, unlike the Federal loans, except your award cannot exceed your cost of attendance budget minus other aid. For a list of some of the most common private lenders please click HERE.

LOUISIANA NATIONAL GUARD

The Louisiana National Guard offers a State Tuition Exemption Program (STEP) that is available to its members. It is Louisiana state law that *”Any student enrolled, or who may enroll, in a public institution of higher learning of this state who is seventeen years of age or over and who is serving in the Louisiana National Guard shall be exempt from all or a portion of tuition charges imposed by such institution of higher learning if the applicant for free tuition is presently domiciled in Louisiana.” *Excerpt from § 36.1. Exemptions from tuition charges for service in the Louisiana National Guard, LSA-R.S. 29:36.1

In addition to the State Tuition Exemption Program, full time students also receive the G.I. Bill, which provides $384 a month for 36 months.

The LSUA recruiter is SGT Sydney Matthew, contact her at (504) 645 - 8291 or feel free to pop into her office, which is located on the second floor of the Student Center.

Need help?
Call Us: (318) 473-6423 Come See Us: Abrams Hall 111(Campus map)    Email: financialaid@lsua.edu