Federal Pell Grant. Your eligibility to receive a Pell Grant is determined once you complete the Free Application for Federal Student Aid (FAFSA) and is noted on your Student Aid Report. 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 bachelor's 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 or by email. Because of limited 4funding limits, LSUS 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 annually. Accelerated online graduate students enrolled in three hours a session are eligible for a TEACH Grant and can receive up to $495.55 per session. The student must agree to complete their four-year commitment within eight years of graduation.
Entering freshmen must have a 3.25 high school GPA; First-semester graduate students must have an undergraduate cumulative GPA of 3.25; Continuing undergraduate and graduate students must have a 3.25 cumulative GPA throughout your academic program for which you receive a TEACH Grant. TEACH LSUS and EDD students do not qualify for the TEACH Grant.
Recipients that do not fulfill their service obligation, the TEACH Grant will be converted into a Federal Direct Unsubsidized Loan. Interest will be retroactively charged from the date the grant funds were disbursed.
For additional information and how to apply for the TEACH Grant, please see our TEACH Grant page.
Federal Work-Study. Work-Study funds are paid directly to the student as he or she earns the money in an on-campus or community service position assigned by LSUS. Students are allowed to earn up to the amount of funds stated on their federal work-study appointment form. To be awarded federal work-study, the student must complete a FAFSA and all requested documents in the Financial Aid Office. If you are interested in federal work-study, please let us know by clicking here.
Federal Student Loans. LSUS participates in the William D. Ford Federal Direct Loan Program with the United States Department of Education. LSUS does not participate in private student loan programs. All first-time students at LSUS are required to complete Loan Entrance Counseling and a Master Promissory Note. 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 loan funds that you are receiving, you may do so on your award letter or by completing an Aid Adjustment Form. Students who receive loan funds must repay the loan within a set period of time after completing their degrees or leaving LSUS.
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 federal 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 half-time. If a student is awarded an unsubsidized loan the interest begins to accrue when the funds are disbursed.
Students enrolled in at least half-time status 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 studentaid.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 Grad PLUS loan up to cost of attendance after their annual unsubsidized limit 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.
Annual Loan Limits
Undergraduate
|
Classification
|
Dependent Student
|
Independent Student
|
|
Freshmen
|
$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
|
Traditional Graduate Students: Graduate students can borrow up to $20,500 annually or cost of attendance whichever is less. The lifetime loan limit 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, traditional graduate students must be enrolled in six hours of graduate level courses each semester. 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.
Accelerated Online Graduate Students: Accelerated online graduate students can borrow up to $20,500 annually or cost of attendance whichever is less. As stated above, the lifetime loan limit is $138,500. The graduate debt limit includes funds borrowed as an undergraduate student. Graduate students are only eligible for unsubsidized loan. To borrow, accelerated online graduate students must be enrolled in a minimum of three hours every session. Optional foundation 500 level coursework are not used to determine part-time/half-time status for financial aid purposes.
Typically the annual loan limit of $20,500 is divided by six sessions per academic year ($20,500/6 annual sessions) = $3,416 per session.
