Types of Financial Aid
Wondering what kinds of financial aid are available to you?
If you are a first-time borrower on or after July 1, 2013, there is a limit on the maximum period of time (measured in academic years) that you can receive Direct Subsidized Loans. This time limit does not apply to Direct Unsubsidized Loans or Direct PLUS Loans. If this limit applies to you, you may not receive Direct Subsidized Loans for more than 150 percent of the published length of your program. This is called your “maximum eligibility period.” Your maximum eligibility period is generally based on the published length of your current program. You can usually find the published length of any program of study in your school’s catalog.
For example, if you are enrolled in a two-year associate degree program, the maximum period for which you can receive Direct Subsidized Loans is three years (150 percent of 2 years = 3 years).
Because your maximum eligibility period is based on the length of your current program of study, your maximum eligibility period can change if you change to a program that has a different length. Also, if you receive Direct Subsidized Loans for one program and then change to another program, the Direct Subsidized Loans you received for the earlier program will generally count toward your new maximum eligibility period.
Disclosure> SLCC submits all loan data for students who accept Direct Loans, and parents who accept Direct Plus Loans to the National Student Loan Data System (NSLDS). This information is accessible by authorized agencies, lenders, and institutions per the requirements of HEOA 489 amended HEA Sec. 485B.
Students interested in participating in the Federal Work Study program must complete a Free Application for Federal Student Aid (FAFSA) and have financial need. Additionally, students must complete the Federal Work Study Authorization Form and take it to the Financial Aid Office for approval. Jobs through the FWS program can be found on the Careers webpage.
Under the Louisiana Statute R.S. 29:36.1, certain members of the Louisiana National Guard may be exempt from paying tuition. Even with this exemption, a student must pay all required fees, books and supplies. Student must be in good academic standing. Students are responsible for Fees.
The Veteran’s Administration provides financial aid for eligible Veterans. Veterans and dependants of veterans must establish his/her eligibility by calling 1-888-GIBILL-1 (1-888-442-4551). Visit www.gibill.va.gov for more information.
(see SLCC’s Veterans link for more information)
Eligibility requirements for TOPS awards are determined by Louisiana Office of Student Financial Aid. LOSFA will notify the school of all students who are eligible for TOPS for the upcoming semesters, and the school will automatically authorize your award; your award will show in LoLA under Financial Aid Awards. Should you have questions, or not see that your award has been authorized prior to the tuition payment deadline for the semester, please contact the financial aid office.
Find out more about TOPS here: www.osfa.la.gov
Eligibility requirements for Go Grants are determined by Louisiana Office of Student Financial Aid. Students must:
- Be a resident of Louisiana
- Complete a FAFSA
- Be eligible to receive PELL Grant funding, but not enough to cover the full cost of attendance
Preference is given to students age 25 and older. For additional information, please visit the LOSFA website at http://www.osfa.state.la.us/, click on the LOSFA Programs link, then Go Grant. Eligibility for GO Grant funding is automatically determined based on the criteria above, and awards are posted after the Add/Drop period has ended. Students may see if they were awarded by reviewing their Awards in LoLA.
If you are an Americorp Beneficiary and would like to use your Americorp funds to pay for school, please complete the My Americorp Payment Application. Please keep in mind that the same deadlines apply to Americorp as to Federal Student Aid. If you submit your application to Americorp after that deadline, we cannot guarantee that payment will be received prior to the payment deadline, and you should make arrangements for a payment plan through LoLA. Once your Americorp payment is received by the college, you will be reimbursed for any payments you made.
The goal of the Strategies to Empower People (STEP) Program is to provide opportunities for work-eligible families of FITAP to receive job training, employment and supportive services to enable them to become self-sufficient. STEP is a service of, and is administered by, the Louisiana Department of Child and Family Services. Learn how to apply for and obtain STEP benefits through SLCC.