UNDERGRADUATE FINANCIAL AID
An undergraduate student is a student who is enrolled in an undergraduate course of study at a college/university or career school that usually doesn't exceed four years and leads to an undergraduate degree or certificate.
We understand that funding your education requires a significant financial commitment from you and your family. We also know that applying for financial aid can be confusing and frustrating. We are here to help. Our financial aid team is dedicated to helping you navigate the application process.
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Scholarships & Fee Waivers
SCHOLARSHIP & FEE WAIVERS
Listed below are examples of scholarships and fee waivers that have been received by students attending LSU Health Shreveport. Students receiving funding from outside sources and private donors should submit the award information to the Office of Student Financial Aid at least 3-4 weeks prior to registration or as soon as the notice of the award is received by the student.
SCHOLARSHIPS
- Louisiana’s Taylor Opportunity Program for Students (TOPS) - is a comprehensive program of state scholarships. The TOPS award amount is determined by the Louisiana Office of Student Financial Assistance. Graduate and Professional students are eligible to use remaining semesters of TOPS eligibility. Schools are notified via a Master Roster of all students eligible to receive this scholarship. For more information, visit LOSFA's website.
- National Health Service Corp Scholarship– Students can receive tuition, fees, a living stipend, and other reasonable educational costs in exchange for agreeing to serve at an NHSC approved site. Students must serve in a Health Professional Shortage Area of greatest need. Applications are accepted once a year from students who are enrolled or accepted for enrollment at an accredited health professions training program in an eligible primary care discipline: medicine (MD or DO), dentistry, family nurse practitioner, certified nurse midwife, or physician assistant. For more information, visit http://nhsc.hrsa.gov/.
- LSU Board of Supervisors Scholarship - The primary determining factors for awarding scholarships are academic excellence, special talent, and financial need. All scholarships are awarded for one academic year only, which includes the Fall, Spring, and Summer semesters. However, Board members may choose the option of awarding their scholarships on a semester-by-semester basis. For more information, visit the LSU Board of Supervisors Scholarship Information page.
► For other scholarship and grant opportunities, Visit https://mylosfa.la.gov/students-parents/scholarships-grants/.
WAIVERS
- LSU Employee Tuition Exemptions - LSU Health Shreveport employees may register for up to six hours per semester to attend job-related undergraduate or graduate courses and receive full tuition exemption at select LSU System campus. The hours are limited to three semester hours during the summer term. Employees must obtain approval from their department head or supervisor, be employed by LSU at least one full year prior to registration, work full time (100%), and be a non-academic or other academic employee. Approved Tuition Exemption Forms must be submitted to the Student Financial Aid Office prior to the tuition and fee deadline. The student must secure all required signatures prior to submitting the form for processing. For more information, contact the Human Resource Department.
- LSU Hardship Fee Waiver - The Louisiana Legislature authorized Louisiana state colleges and universities to assess an Academic Excellence Fee and an Operational fee to all students. The Legislature has directed and the LSU Health Shreveport has made provisions for students with demonstrated hardships brought about as a result of this fee increase by offering a Hardship Waiver. All students receiving federal financial aid funds are given consideration with priority given to students with higher financial need as defined by the federal student aid programs. To receive the award, students must complete the FAFSA for the applicable year and other financial aid documents, if required, by the specified deadlines. Students must have a zero Expected Family Contribution (EFC) to be eligible. Students are ranked by FAFSA completion date and are awarded in order until funds are exhausted. No other application is required. Students benefiting from other tuition/fee exemptions programs such as TOPS recipients and LSU Board of Supervisor Scholarship recipients are not eligible for the LSU Health Shreveport Hardship waiver. The LSU Hardship Fee Waiver is available to undergraduate and graduate/professional students.
Grants
Federal Pell Grant
A Federal Pell Grant does not have to be repaid. Pell Grants are awarded usually only to undergraduate students who have not earned a bachelor's or a professional degree. (In some cases, however, a student enrolled in a post-baccalaureate teacher certification program might receive a Pell Grant.) Pell Grants are considered a foundation of federal financial aid, to which aid from other federal and nonfederal sources might be added.
Students must complete the Free Application for Federal Student Aid (FAFSA). The amount of the award varies every year and is set by the U.S. Department of Education. The Student Financial Aid Office will automatically review students' applications and award Pell Grant to each student who qualifies. The amount awarded, will depend not only on financial need, but also on the cost of attendance, enrollment status, and length of the program. Students may not receive Pell Grant for more than 12 semesters or the equivalent (approximately 6 years).
Federal Supplemental Educational Opportunity Grant
The Federal Supplemental Educational Opportunity Grant (FSEOG) program is for undergraduate students with exceptional financial need. Pell Grant recipients with the lowest expected family contributions (EFCs) will be considered first for a FSEOG. Just like Pell Grants, the FSEOG does not have to be repaid.
Students must complete the Free Application for Federal Student Aid (FAFSA). Unlike the Pell Grant, schools are given an allotment from the U.S. Department of Education each year and when all funds have been exhausted, no further awards can be made. The amount of the award will vary based on the amount of money the school has been allotted, the number of eligible recipients, and the student's enrollment status.
Student Loans
3 Steps for Applying for Student Loans
Step 1: Complete a Stafford Master Promissory Note
Student loan borrowers are required to use a Master Promissory Note (MPN) when requesting funding through the Federal Direct Student Loan Programs. The MPN allows students to borrow for multiple years without having to complete a new loan application each time. The MPN will automatically expire upon the earliest of:
- The date the Direct Loan Servicing Center receives written notification from the student asking that the MPN no longer be used as the basis for additional loans; or
- Twelve months after the original MPN was signed, if no disbursements were ever made under that MPN; or
- Twenty-four months after the last disbursement was made under that MPN; or
- Ten years from the date the MPN was signed. If a portion of a loan is made on or before ten years from the signature date, remaining disbursements of that loan can be made.
LSU Health Shreveport allows students to use the multi-year feature of the Federal Direct Loan MPN. Students with a valid, non-expired, Federal Direct Loan MPN on file with the Federal Direct Loan Servicing Center do not need to complete a new MPN. Previous Direct Loan borrowers may log into https://studentaid.gov and click on “Completed MPNs” under “My Loan Documents” to check the status of their existing MPN. To apply go to https://studentaid.gov/mpn/.
Step 2: Complete a Federal Direct Stafford Loan Entrance Counseling Session
All Federal Direct Loan borrowers, except Parent Plus Loan borrowers, must complete entrance counseling requirements before being awarded a federal loan. This helps borrowers to understand their rights and responsibilities regarding their loans. LSU Health Shreveport requires borrowers to complete this requirement online at https://studentaid.gov/entrance-counseling/.
Step 3: Review Credit-Based Educational Loans for Unmet Need
Credit-based loans are non-need based educational loans that students can borrow to assist with unmet educational expenses after federal aid has been applied. The amounts that a borrower can receive, interest rates, and repayment terms vary among lenders. Credit-based loans include:
The Federal Direct Grad Plus: a credit-based loan for graduate and professional students. Students must complete the FAFSA, the Federal Direct Grad Plus Master Promissory Note (MPN), and the Federal Direct Grad Plus Entrance Counseling Session. The Grad Plus loan is awarded after all federal and non-federal aid is awarded.
The Federal Direct Parent Plus loan: a credit-based loan for the parents of undergraduate students. Parents can borrow up to their dependent student’s cost of attendance minus other financial aid the student is receiving. If the parent is unable to secure a Direct Plus loan, the dependent undergraduate student may be eligible to borrow additional Unsubsidized loan funds.
Private Educational Loan: Private educational loans are offered by a variety of different lenders. Students can borrow up to their total Cost of Attendance minus any other financial aid the student is receiving. Students do not have to borrow the Federal Stafford Loan in order to receive a private educational loan. However, students must complete the Federal Direct Stafford Loan Entrance Counseling session first. This will allow students to compare repayment terms, interest rates, and fees which can vary by lender. Borrowers are strongly advised to contact each lender that they are considering to determine the exact terms, conditions and availability of individual incentive programs.
Veteran Benefits
VETERAN BENEFITS
Students can receive eligible Veterans Benefits while attending LSU Health Shreveport. Information pertaining to school policies, catalogs, residency, academic calendars, tuition and fee charges and more can be found on the Registrar's website at https://www.lsuhs.edu/our-schools/registrar.
Steps for receiving benefits:
- The student should contact the Registrar's Office for completion of required documentation certifying eligible tuition, fees and enrollment data.
- Benefits are approved by the Veterans Affairs Administration and funds are transferred to the university via ACH deposit.
- The Bursars Office notifies the Student Financial Aid Office of receipt of funds.
- The Financial Aid Office adds the amount of the award to the system.
- The Financial Aid Office notifies the student that there is a new award in the Student Self Service Portal.
- The Financial Aid Office authorizes the disbursement of funds to the Student Account.
- The Bursar's Office processes the disbursements and notifies the student by email when a credit balance check is available to be picked up.
Contact the Registrar's Office for questions regarding Veterans Benefits.
Email: shvregistrar@lsuhsc.edu
Phone: (318) 675.5205
Location: 1st floor Medical School, Room 1-212
Website: https://www.lsuhs.edu/our-schools/registrar
The U.S. Department of Education and the Consumer Finance Protection Bureau offers the following school comparison tools for students trying to decide which school is the best fit for their educational needs:
College Scorecard - http://collegecost.ed.gov/scorecard/
College Navigator - http://nces.ed.gov/collegenavigator/
Paying for College - http://www.consumerfinance.gov/paying-for-college/
Private Loan Lenders
Students are encouraged to visit multiple lenders’ web pages to verify the interest rate, repayment options, fees charged, and borrower benefits. Our office does not endorse any lenders, receive any incentives, or have any arrangements or agreements with any lenders. Private Lenders are commonly utilized by students after federal aid options are no longer available or if the interest rates or other criteria better fits their needs.
Considerations When Selecting a Lender
Applications and Eligibility
Requirements vary according to lender. Some of the most common borrowing requirements are as follows:
- must be an undergraduate or graduate student in a degree or certification program
- must be enrolled at least half-time
- must be a credit-worthy borrower or a borrower with a credit-worthy cosigner
- must maintain Satisfactory Academic Progress
- must be a U.S. citizen, permanent resident, or eligible non-citizen
Interest Rates and Fees
Interest rate options vary. The interest rate options may be fixed or variable rates. Many education loans involve fees. Fees are usually added to the amount requested to borrow, but sometimes they are deducted from loan proceeds. Borrowers should consult their lender and read their promissory note carefully to determine the interest rate and fees associated with their loan.
Repayment and Deferment
Lenders are often willing to allow deferment of payments while the borrower is enrolled in school at least half-time. During this time, interest may accrue, but the student does not need to make any monthly payments. Students should contact their lender for specific options.
Borrower Benefits
Borrower benefits can significantly alter the cost of a loan. Students should research the fine print on a lender’s borrower benefits and keep up their end of the bargain.
Finding a Lender
Financial Institutions
Students should start their search for a reputable lender with their bank, credit union, or other financial institution. Students should always compare several loan options or lenders.
Parent Employer
Employers sometimes help families pay for children’s education by offering financing options of their own. For example, some employers help employees with education expenses such as education through private loans, automatic deductions from paychecks, and other financing options.
Internet Search
Use the Internet to search websites that list alternative (private) loan lenders.
Questions to Ask a Potential Lender
- Can the application be completed online?
- What is the approximate time it takes to obtain a decision for loan approval?
- Is a cosigner required?
- What is the minimum and maximum loan amount per year?
- Are there minimum enrollment requirements?
- Can I borrow for past due balances?
- Do I need to be enrolled in a degree-seeking program in order to qualify?
- Is the interest rate fixed or variable? If variable, how frequently can the rate change?
- Are there any loan fees?
- Does the interest rate change when I enter repayment?
- What fees are applied to the loan and when and how are they applied?
- When does repayment begin? What will be my monthly payment?
- Is the interest and/or principal deferred while I am in school?
- What are the repayment options and are they any repayment benefits?
