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Financial Aid

UNDERGRADUATE STUDENT FAQ

Frequently Asked Questions


Q. How do I apply for financial aid?
A. To apply for federal and state financial aid including but not limited to grants, work-study, and student loans, complete the Free Application for Federal Student Aid (FAFSA).  Be sure to include LSUS school code (002013) on the application.

Q. When should I apply for financial aid? A. You will complete a new FAFSA before the start of each academic year (August - July). You should always complete the application as soon as possible! The FAFSA is now available to complete after October 1 every year!

Q.How do I apply for scholarships at LSUS? A. Eligibility for LSUS institutional scholarships will automatically be evaluated upon admission to the university. Donor funded and departmental scholarships can be viewed and applied for via the academic works  web page. For additional details and deadline dates, please view our scholarships page

Q. My parents don't claim me on their tax return and don't pay my tuition. Can I file my FAFSA as an independent student? A. Whether or not your parents claim you on their tax return has no bearing on being able to be considered an "independent" student. There are very specific criteria that determines a student's dependency status. Except under very limited circumstances, you must provide parental information if requested to do so by the FAFSA.  

Q. My FAFSA is selected for verification. What does this mean? A. Because the FAFSA is a self-reported application, some students are required to submit additional paperwork to the Financial Aid Office to verify the data reported on the FAFSA. Our office will ask you to provide the necessary documentation for our office to verify your information. You will need to allow our office approximately 10 business days to review your paperwork. Verification must be complete before our office can determine how much aid you are eligible to receive. This is one reason it is important to complete your FAFSA as early as possible!  

Q It is the fee payment deadline and my financial aid has not been awarded yet. Will my classes get dropped? A. If you have not been awarded financial aid and you have not set up payment arrangements, your classes may be at risk of being dropped. If you have completed all the necessary financial aid requirements, contact our office to determine if you are eligible for a financial aid fee deferment. If your financial aid file is incomplete, you will need to set up payment arrangements.         

Q. Do I have to be full time to receive financial aid? A. This depends on the type of aid received. Federal Work-Study and many scholarships require you to be a full time student; however, grants are prorated based on enrollment and student loans only require half time status.

Q.  How do I view my financial aid requirements and/or awards? A. You can view your financial aid requirements and awards on your my LSUS account.

Q. Do I need to "Accept" my financial aid? A. YES! You will need to grant your financial aid approval before the start of EACH SEMESTER. You can do this approximately 2 weeks before the fee payment deadline each semester. Instructions can be found at Financial Aid Approval.   

Q. I see on my myLSUS account that I was awarded an unsubsidized Stafford loan and a subsidized Stafford Loan. What is the difference between the subsidized and unsubsidized? A. The main difference between the two loans is that the subsidized loan does not accrue interest while the student is enrolled at least half-time.   The unsubsidized loan accrues interest immediately after disbursement.  You can read more information at www.StudentAid.gov.

Q. How do I adjust my student loan amounts for each semester? A. You can adjust the amounts on your paper award letter and return it to our office or you can email our office at finaid@lsus.edu from your student email account. Be sure to include your name, student id number and be specific with the amounts you are requesting for each term.    

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 2 weeks before the start of classes for each term. You can purchase them online or in person. 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 will be issued 5-10 business days after the last day to drop/census date for each term. The dates for each 2018-2019 academic terms are as follows:  

Last Day to Drop/Census Date

Expected Check Date
Fall Session 1 September 7, 2018 5 - 7 Business Days After Census
Fall Session AP1/1C September 4, 2018 5 - 7 Business Days After Census
Fall Session AP2/1D October 30, 2018 5 - 7 Business Days After Census
Spring 1/AP1/1C January 29, 2019 5 - 7 Business Days After Census
Spring AP2/1D March 26, 2019 5 - 7 Business Days After Census
Summer 1 June 6, 2019 5 - 7 Business Days After Census
Summer AP1/1C May 21, 2019 5 - 7 Business Days After Census
Summer AP2/1D July 16, 2019 5 - 7 Business Days After Census


Q. How much will my financial aid credit balance refund be?
A. Subtract your tuition fees and book charge amounts from the total aid amount awarded for the semester.  *You can set up direct deposit via your myLSUS account. Any questions regarding setting up direct deposit should be directed to the Accounting Services office.  

Q. It is past the census date, why has my student loan not credited? A. Our office may be missing your Master Promissory Note and Entrance Counseling. Please log into www.StudentLoans.gov to complete these electronic documents. LSUS should receive them within 72 hours of completion.  

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.  

Q. Do I have to be full time to receive financial aid? A. This depends on the type of aid received. Federal Work-Study and many scholarships require you to be a full time student; however, grants are prorated based on enrollment and student loans only require half time status.   

Q. I failed a class. Will I lose my grants and 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.  

Q. Where can I access my 1098-T form? A. 1098-T forms are available on your myLSUS account under the "My Financials" section. Any questions regarding these forms should be directed to the Accounting Services office.

 
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