TYPES OF AID

Federal Loans:

Direct Subsidized Stafford Loan:

Only available for undergraduate students.
Based on financial need.
3.76% fixed interest rate, which does not begin accruing interest until graduation
Repayment of loan begins 6 months after graduation or when the student is no longer enrolled at least half-time.
1.069% origination fee applied to the loan prior to the funds being disbursed to the students' account
First time borrowers must complete Entrance Counseling & a Master Promissory Note (MPN) at studentloans.gov before receiving the loan.
For more information (loan limits, etc.), click the picture

Direct Unsubsidized Stafford Loan:

Available for undergraduate & graduate students.
3.76% fixed interest rate for undergrad students & 5.31% for grad students -- interest begins accruing once the loan is disbursed
Repayment begins 6 months after graduation or when the student is no longer enrolled at least half-time.
1.069% origination fee applied to the loan prior to the funds being disbursed to the students' account
First time borrowers must complete Entrance Counseling & a Master Promissory Note (MPN) at studentloans.gov before receiving the loan.
For more information (FYI for students / student basics), click the picture

Direct PLUS Loans:

Direct Parent PLUS Loan:

Must complete & submit an application each academic year, which can be found on lsu.edu/financialaid.
Available to creditworthy parents regardless of financial need. The credit check is completed by the department of education.
- If the parent's credit check is denied, the student can receive additional Unsubsidized loan or the parent can add a cosigner to the loan.
The student can receive up to the cost of education minus any other financial aid he/she is receiving.
6.31% fixed interest rate, which begins accruing interest once the funds are disbursed to the student
Repayment begins 45 days after the last disbursement of the loan, or the parent can choose to defer the loan until the student is no longer attending at least half-time.
4.276% origination fee is applied to the loan before the student receives the funds
Parent borrowers must complete a Master Promissory Note (MPN) on studentloans.gov (with their log-in information) before the student can receive the loan.
For more information on PLUS Loans, click the picture

Direct Graduate PLUS Loan:

Must complete & submit an application each academic year, which can be found on lsu.edu/financialaid
Available to creditworthy students regardless of financial need. The credit check is completed by the department of education.
- If the student's credit check is denied, the student has the option to seek a creditworthy a cosigner.
The student can receive up to the cost of education minus any other financial aid he/she is receiving.
6.84% fixed interest rate, which begins accruing interest once the funds are disbursed to the student.
Repayment begins 6 months after the student is no longer attending at least half-time.
4.276% origination fee is applied to the loan before the student receives the funds
The student borrower must complete Entrance Counseling and a Master Promissory Note (MPN) on studentloans.gov before receiving the loan.

Federal Perkins Loan:

This loan is extremely limitedly funded.
Based on financial need.
5% fixed interest rate, which does not begin accruing interest while the student is enrolled at least half-time.
Repayment begins 9 months after graduation to LSU.
Only awarded in fall & spring semesters.
First time borrowers must complete a Master Promissory Note & Perkins loan information sheet prior to receiving the loan.

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Grants:

Grants are need based awards that do not require repayment. Eligibility for grants is determined by the Estimated Family Contribution (EFC), which is calculated using a federal formula from the information submitted on the FAFSA application. The EFC takes into account the family taxed & untaxed income, assets, benefits (such as unemployment or Social Security), the number in the household, and the number in college.

Grant eligibility is determined by the information submitted on the FAFSA.
You can only receive grants as an undergraduate completing your first degree.
Generally, there are no grants awarded during the summer semester.
The Pell Grant and SEOG are federal so can be offered to any student but Go Grant is only offered by the state so students must be a LA resident.

Pell Grant:

Must have an EFC of $5,157 or less for the 2014-15 year
The 2014-15 award ranges from $602 - $5,730 for the year
Award amount is prorated based on the number of hours the student is enrolled
- Award amount is updated after the last day to add based on the student’s enrollment status
Students can only receive Pell for a maximum of 12 full time semesters
For more information on Grants, click the picture

Go Grant:

Award ranges from $300 - $1500 for the year
Administered by LOSFA. LSU bills for students’ Go Grant after the 14th class day and the funds typically come in around the middle of the semester.
- Do not have a specific date as it depends when LOSFA sends the funds
Must be a LA resident
Must receive Pell Grant
Limitedly funded
The student must have remaining financial need after deducting EFC and all other aid from COA
Gift aid including Go Grant cannot exceed 60% of the student’s need based eligibility
Student must enroll at least half time

Pelican Promise:

Louisiana resident
Tuition exemption
Administered by LSU
Must be full time through the university refund period
Must receive Pell Grant
Family income is equal or less than 150% of the poverty level
Freshmen can only receive Pelican Promise their first four years of college work
- The expiration can be found on STUU under x135 expiration
Transfer can only receive Pelican Promise for up to 120 hours

Supplemental Educational Opportunity Grant:

Award is $1000 for the year
EFC must be zero
Must receive Pell Grant
Limitedly funded

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