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Types of Aid

Federal Programs

 

Federal Pell Grant.  Your eligibility to receive a Pell Grant is noted on your Student Aid Report (SAR). A Pell Grant is available to undergraduate students seeking their first Bachelor's Degree. A Pell Grant does not have to be repaid.  You are not eligible for a Pell Grant if you already have a bachelor's degree.  This includes degrees granted at unaccredited or foreign schools.

Supplemental Educational Opportunity Grants (SEOG). If you are awarded this grant you will be notified on your award letter. Because of funding limits, LSU Shreveport awards this grant to independent undergraduate students with one or more dependents who exhibit extreme financial need. An SEOG does not have to be repaid.

Teacher Education Assistance for College and Higher Education Grants (TEACH). Students willing to make a commitment to teach in certain subject areas and in schools serving low-income students can be awarded up to $4,000.00 annually. The student must agree to teach four years within eight years of graduation. This award is available to both undergraduate and graduate students with a 3.25 grade point average. Juniors and seniors must be accepted into the Teacher Education and Retention Program; graduate students must possess teaching credentials. Students enrolled in Teach LSU Shreveport are not eligible. Failure to complete the service obligation will result in the grant converting to a loan that must be paid back with accrued interest.

Federal Work Study. To be awarded federal work study, the student must state on their Free Application for Federal Student Aid (FAFSA) that they are "interested in work study". Work study funds are paid directly to the student has he or she earns the money in an on-campus or community service position assigned by LSU Shreveport. Students are allowed to earn up to the amount of funds stated on their award letters.

Student Loans. LSU Shreveport participates in the William D. Ford Federal Direct Loan Program with the United States Department of Education.  All first-time students at LSU Shreveport are required to complete entrance counseling and a Master Promissory Note.   Loan counseling and the Master Promissory Note can be completed at www.StudentLoans.gov .  Your award letter will state the maximum amount that you are eligible to borrow based on your academic classification and dependency status. If you wish to reduce the amount of loans funds that you are receiving, you may do so on your award letter. Students who receive loan funds must repay the loan within a set period of time after completing their degrees or leaving LSU Shreveport.

Within the William D. Ford Federal Direct Loan Program there are four types of loans: subsidized, unsubsidized, the Parent Loan for Undergraduate Students (PLUS), and the Graduate PLUS. To be awarded a subsidized loan the student must have unmet financial need after the student's cost of attendance is subtracted from their family contribution and any grants, scholarships or work study the student has been awarded. Interest does not accrue on a subsidized loan until six months after the student graduates or ceases to be enrolled in at least six hours. If a student is awarded an unsubsidized loan the interest on the loan begins to accrue when the funds are disbursed to LSU Shreveport. 

Students enrolled in at least six hours can chose to not pay the interest on an unsubsidized loan; however, the student should be aware that the interest accrues while the student is in school and will be capitalized when the student enters repayment. Students may borrow the lesser of cost of attendance minus any grants, scholarships or work study the student is awarded or loan limits based on the student's academic classification or dependency status.

Parents of a dependent student may be able to borrow up to the cost of attendance less any scholarships, grants, loans or work study the student is awarded for their children. Parents can apply for a PLUS loan at www.StudentLoans.gov .  A credit check is required for a PLUS loan. If a parent of a dependent student has been denied a PLUS loan that student may be eligible for additional unsubsidized loan funds.  Graduate students who are creditworthy can borrow additional funds up to cost of attendance after their annual unsubsidized limits have been exhausted.  Please contact the financial aid office before applying for this loan since all graduate students may not qualify and your credit will be checked.

Following is a chart stating the amount of loan funds a student can borrow annually: 

Undergraduate

 

Dependent Student

Independent Student


Freshman

$5,500
No more than
$3,500 subsidized

$9,500
No more than
$3,500 subsidized


Sophomore

$6,500
No more than
$4,500 subsidized

$10,500
No more than
$4,500 subsidized


Junior and Senior

$7,500
No more than
$5,500 subsidized

$12,500
No more than
$5,500 subsidized

Maximum Total

Debt from Stafford Loan Funds

$31,000
No more than
$23,000 subsidized

$57,500
No more than
$23,000 subsidized

 

Graduate Students: Graduate students can borrow up to $20,500 annually or cost of attendance whichever is less. The maximum total debt from Stafford loan funds is $138,500.   The graduate debt limit includes funds received as an undergraduate student.  Graduate students are only eligible for unsubsidized loan funds. To borrow loan funds, graduate students must be enrolled in six hours of graduate level courses. Graduate students enrolled in undergraduate courses are not eligible to borrow student loan funds if they are not also enrolled in six hours of graduate level courses.