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FINANCIAL AID ANNOUNCEMENT
FALL 2010
Students who have applied for financial aid (submitted the Free Application for Federal Student Aid to the Department of Education and who listed LSUS as a school to receive their electronic Student Aid Report) should have been mailed a letter that states the documents needed to complete his/her financial aid file. Please submit these documents immediately. If you have not received a letter, please complete the following steps:
- Logon to your COMPASS account
- Click on “FINANCIAL AID”
- Click on “APPLICATION”
- Click on “2011”
- Click on “VIEW STATUS”
- Pull down the right side bar
- NOTE: There will be red flags for semesters you are not enrolled in (spring 11, summer 11) because registration has not occurred for these semesters.
Any required documents will be listed. Documents can be printed from the LSUS website, www.lsus.edu/finaid/ , click on “APPLYING FOR FINANCIAL AID” and then click on “FORMS & APPLICATION”. Print out the required documents and submit them to the Financial Aid Office.
Your request for financial aid CANNOT be processed until these documents are received. Also be aware that ALL academic transcripts must be ON FILE in the Office of Admissions and Records AND EVALUATED before you can be awarded financial aid.
All awarded financial aid can be viewed on the COMPASS website. You should only give your approval to apply your financial aid award(s) to your tuition and fees if you have been awarded.
College work-study and SEOG have limited funds. If you have not been awarded work-study or SEOG it is because you are not eligible or the funding was exhausted when you were awarded.
Award letters are not mailed for scholarship only awards. These awards can be viewed on COMPASS. Your approval is required to apply these awards to your tuition and fees. Failure to do so may result in your classes being cancelled.
IF YOU DO NOT HAVE AWARDS ON COMPASS YOU SHOULD BE PREPARED TO PAY YOUR TUITION AND FEES. The fee payment deadline for students who are registered for the fall 2010 semester is August 18, 2010. Payment is due by 6:00 p.m. If you do not pay your tuition and fees by this date your courses will be cancelled and you must register again.
Financial aid will continue to be processed as students complete their financial aid files and are cleared by Admissions and Records. Your awards will be posted on COMPASS.
CREDIT BALANCE CHECKS
Credit balance checks will not be issued until the funds are received from their source or lender. You will be able to view this when the funds are credited on COMPASS under “FINANCIAL AID AWARDS”. Loans are posted in the credited column as the funds are received from the lenders. Other types of financial aid, including scholarships, will appear in the credited column no sooner than Friday, August 20, 2010.
Credit balance checks are issued Monday, August 23, 2010, from noon to 6:00 p.m. in the University Center Ballroom. Checks not picked up on Monday by 6:00 p.m. are mailed. You must bring a picture ID to pick-up your credit balance checks.
STUDENT LOANS
- All student loans were processed at the maximum loan limit and cannot be increased.
- If you cancelled or reduced a loan award, you will be able to view the changes on COMPASS under “FINANCIAL AID AWARDS”.
- Students who cancelled or reduced a loan, and now wish to return to maximum loan award will not have their requests processed until later in the semester.
- If you accept an Unsubsidized Stafford Loan you cannot decline a Subsidized Stafford Loan. This is because there is no interest on a Subsidized Stafford Loan.
- GRADUATE STUDENTS - You must be registered for six hours of graduate coursework to be eligible for your student loans. Loans for graduate students not registered in six hours of graduate coursework will be cancelled. Cancelled loans will not be reprocessed until after registration.
- First-time freshman student loan borrowers cannot receive their loan funds until 30 days after the first day of class.
- Beginning fall 2010 ALL students are required to submit new master promissory notes. This can be done on-line at www.StudentLoans.gov .
COMPASS APPROVAL
If you have been awarded financial aid, are registered for the fall 2010 semester, and wish to apply your financial aid to your tuition and fees you must give your electronic approval on COMPASS. Please complete the following steps:
- Go to http://compass.lsus.edu. Enter your student ID or social security number and personal identification (PIN).
- Go to “FINANCIAL AID”.
- Click on “FINANCIAL AID APPROVAL”.
- Under “ACCEPTED” change the “NO” to a “YES”.
- Click on “SAVE CHANGES”.
- It is your responsibility to make sure your financial aid covers all of your tuition and fees. Please go to “PAYMENT” and click on “TUITION AND FEES”. If you owe a balance it will be displayed on the screen. Please remember to pay the remaining balance by the Fee Payment Deadline, August 18, 2010, at 6:00 p.m.
FINANCIAL AID OFFICE HOURS
Monday through Friday 8:00 a.m. to 4:30 p.m.
Wednesday, August 18 8:00 a.m. to 6:00 p.m.
Monday, August 23 8:00 a.m. to 6:00 p.m.
TELEPHONE CALLS
Your phone call is important, but during this time of year telephone volume is heavy due to the beginning of the fall semester.
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