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Financial Aid

Graduate Student FAQ

Accelerated 100% Online Graduate Students

Financial Aid Frequently Asked Questions

Q. How do I apply for federal financial aid? A. You will need to complete the Free Application for Federal Student Aid (FAFSA).  Be sure to include LSUS school code on the application (002013). You will need to complete a new FAFSA for each academic year (August -July). The FAFSA is now available to complete after October 1 every year!       

Q. Are there any scholarships available for graduate students? A. Yes! A current list of scholarship opportunities can be found through the LSUS Foundation.  Also, we send out scholarship opportunities periodically throughout the school year via your student email.  

Q. I am an accelerated 100% online student admitted today. How long before I am awarded financial aid? A. Our office cannot begin the awarding process for a student until they have been fully admitted to the program. Please allow our office approximately three - five weeks of processing time once you have received confirmation of admission to the program.  

Q. How much financial aid is available for LSUS Accelerated Online graduate students? A. Graduate students enrolled part time are eligible to receive the Federal Direct Unsubsidized Stafford loan with a limit of $20,500.00 per academic year. Typically, this amount is split evenly amongst the six modules of the academic year. For example, a typical AP student academic year award will be similar to the following:   

Graduate Aid Disbursement Model

PLEASE NOTE: Accelerated Online graduate students are considered part time if they are enrolled in three credit hours a session.  

Q. Are any other loans available to graduate students? A. Possibly. Federal Direct Graduate PLUS Loans are designed to assist eligible graduate and professional students needing to borrow additional funds up to LSU Shreveport's specified cost of attendance.  Loan approval is based on creditworthiness standards set by the U.S. Department of Education.  Students may borrow up to the cost of attendance less other aid.  Please contact the financial aid office before applying for this loan since not all graduate and professional students may qualify for PLUS due to cost of attendance.  Students may apply for a Graduate PLUS loan at StudentLoans.gov.  LSUS does not partcipate in private student loan programs.

Q. What is the TEACH Grant? A. The Teacher Education Assistance for College and Higher Education (TEACH) Grant program provides aid for students who are completing or plan to complete course work needed to begin a career in teaching.  The TEACH Grant is different from other federal student grants because it requires certain kinds of classes in order to receive the grant, and a certain kind of post-graduation job to keep the grant from turning into a loan.  You can find more information on our wesbite about the TEACH grant and you can go StudentLoans.gov.

Q.  How do I view my financial aid requirements and/or awards? A. You can view your financial aid requirements and awards on your myLSUS account.   Instructions are found at Financial Aid approval.   

Q. How do I "Accept" my financial aid? A. You will need to grant your financial aid approval before the start of EACH SEMESTER. You can do this approximately two weeks before the fee payment deadline each semester. By granting your financial aid approved, you are letting Accounting Services know you plan to use your aid to pay for your tuition and fees.  Instructions are found at Financial Aid approval.  

Q. I want my loan to cover only my tuition and fee amounts for each session. How do I reduce my aid? A. If you will be enrolling in the same amount of classes for each session, simply request to reduce your loan amount down to that amount per session on your paper award letter and return it to the financial aid office. However, if you plan to enroll in a different number of hours each session, you will need to request an adjustment EACH SESSION to ensure you have enough aid awarded to cover the charges for that session. Our office cannot individually monitor your account to make specific automatic adjustments each session.  

Q. Can I purchase books using my financial aid? A. YES! If you have financial aid in excess of your tuition and fees, you can purchase your books at the LSUS Bookstore using your financial aid credit balance approximately two weeks before the start of classes for each term. You can purchase them online or in person. If you purchase online, simply select to use your financial aid as a payment method.  

Q.  When will I receive my financial aid credit balance refund? A. Credit balance refunds are issued 5-10 business days AFTER the census date for each term. The census dates for each 2018-2019 academic term are as follows:

Academic TermLast Day to Drop/Census Date
FALL 2018 AP1/1C 09/04/2018
FALL 2018 AP2/1D 10/30/2018
SPRING 2019 AP1/1C 01/29/2019
SPRING 2019 AP2/1D 03/26/2019
SUMMER 2019 AP1/1C 05/21/2019
SUMMER 2019 AP2/1D 07/16/2019

 

Q. It is past the census date, why has my student loan not been credited? A. Our office may be missing your Master Promissory Note (MPN) and Entrance Counseling. Please log into StudentLoans.gov to complete these electronic documents. LSUS should receive them within 72 hours of completion. PLEASE NOTE: Accelerated 100% online graduate students must complete the MPN for Direct Unsubsidized/Subsidized loans. DO NOT complete a Graduate PLUS MPN.  

Q. I registered for both AP1/1C and AP2/1D classes. My tuition for both classes was taken out of my first (AP1) financial aid disbursement. Why? A. Your financial aid will pay for ANY outstanding tuition and fee charges on your student account at the time of disbursement. If you want your AP1 disbursement to only pay for AP1 courses, you must only enroll in one session at a time. Once your aid has disbursed for AP1, you may then add your AP2 courses.  

Q. I do not receive any financial aid, but I want to set up a payment plan. How do I do that? A. You can set up the NELNET payment plan via your myLSUS account. Questions or concerns regarding payment plans should be directed to the Accounting Services Office at 318.797.5275

Q. I set up a payment plan but have since been awarded financial aid. Do I have to make the next payment? A. Maybe. The Accounting Services Office cannot reconcile payment plans until AFTER financial aid has CREDITED for the term. Financial aid does not credit until after the census date for each term (see dates above). Please check with the Accounting Services Office (318.797.5275) after your aid has credited for an estimated timeframe of reconciliation.  

Q. I failed a class. Will I still be eligible for student loans? A. Not necessarily.  Please see our Satisfactory Academic Progress Policy, which explains the academic requirements for keeping federal aid.  

Q. Will dropping classes affect my financial aid? A. Maybe. This will depend on how many classes you drop, the type of aid you are receiving, and how it is affecting your academic progress. We encourage students to contact our office when they are considering dropping a course to find out how it will specifically affect them. It is also very important to be familiar with our Satisfactory Academic Progress Policy.  

 
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