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 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.
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.
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: complete a the FAFSA; and complete a Student Worker Application through their MyLSUA account.
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 6 credit hours, and be maintaining Satisfactory Academic Progress.
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
Steps to Apply for a Federal Direct Student Loan
The only way to apply for a Federal Direct Stafford Student loan Fall and/or Spring is to complete an application online. Before a student may complete the Online Loan Application, LSUA must have received a processed a current FAFSA for the student.
The following steps will guide a student on how to access the LSUA Online Student Loan Application:
- Log in to your MyLSUA Account
- Click on the STUDENT button located in the top right of the screen
- Click on the apply for a Student Loan link
- Carefully read and follow all online instructions to complete the application
- Complete a Direct Loan Entrance Counseling Session online
- Complete a Direct Loan Master Promissory Note online
Click here to access the LSUA Parent PLUS Loan Application
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 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. You can click here to see what you qualify for.
In addition to scholarships offered through LSUA, students are encouraged to apply for scholarships through various businesses, community organizations, family employers, etc. Here are a few trusted links for additional scholarship search engines:
1. Louisiana Office of Student Assistance
2. The College Board
3. Fast Web
***Important note: There are many scholarship scams out there. Do not ever pay money to apply for a scholarship***