A | C | D | E | F | G | I | L | N | O | P | R | S | U | V | W

 - A -

 Academic Year

Starts with summer semester and ends with the spring semester.

 - C -

 Campus-Based Programs

Sources of financial aid which include the Federal Perkins Loan, Federal Supplemental Educational Opportunity Grant and Federal Work-Study. These programs have limited funds and are awarded by LSU, based on financial need and are awarded on a first come first serve basis.

 Cost of Attendance

The estimated total amount it will cost to attend Louisiana State University. It is determined by  Financial Aid using rules established by the U.S. Congress. It is based on average costs incurred by students. Amounts are included for tuition, room/board, books, travel, and personal miscellaneous expenses.

 - D -

 Direct Loan

Direct Loans is the Department of Education's lender. Louisiana State University uses Direct Loans for Stafford and PLUS loans.

 - E -

 EFC (Expected Family Contribution)

The amount you and/or your parents are expected to contribute toward your educational expenses as determined by a federally-mandated formula, which uses the information you provide on your FAFSA or Renewal FAFSA. Your EFC is used to determine your financial need.

 Entrance Counseling

A requirement for first time borrowers to learn about the rights and responsibilities as a student loan borrower. Federal Stafford Loan entrance counseling must be completed online at www.studentloans.gov.

 - F -

 FAFSA (Free Application for Federal Student Aid)

The application used to determine financial need.

 Federal Direct Loan

Federal Direct Loans can be subsidized or unsubsidized for the student or the optional PLUS (Parent Loan for Undergraduate Students) for parents of dependent undergraduate students. Students indicate their interest in loans on the FAFSA. Parents may complete a PLUS application for consideration for the PLUS loan.

 Financial Aid Package

An offer of financial aid usually comprised of a combination of aid programs which may include scholarships, grants, loans and/or work-study funds.

 Financial Need

The difference between your budget as established by Louisiana State University and your Expected Family Contribution (EFC) as determined by information provided on the FAFSA.

 - G -

 Gift Aid

A form of financial aid that does not have to be repaid or earned.

 Grace Period

A period of time granted to loan borrowers during which no payment of principal is due. After you graduate, leave school or drop below halftime you enter a grace period. This grace period is usually six months.

Graduate Plus Loan (GPLS)

The Federal Direct Graduate Loan for graduate students is not based on financial need and is limited to graduate/professional students. The annual limit is equal to the student's cost of attendance, as defined by Louisiana State University, minus any other financial aid the student is receiving. Students are required to pass a credit check. The interest rate is a fixed 7.9%.

 Grant

A form of financial aid that does not have to be repaid or earned.

 - I -

 ISIR (Institutional Student Information Record)

The FAFSA information that Louisiana State University receives from the central processor. You, the student, receive a Student Aid Report with your information. We, the school, receive the ISIR with your information. (Your ISIR/SAR information is provided to our school electronically.)

 - L -

 Loan

Loans must be repaid. Loans are available to help with your educational expenses.

• The Federal Perkins Loan is a fixed, low-interest (5%) loan awarded on the basis of financial need. No origination fee is charged. Funds are limited. Priority is given to undergraduate students who are enrolled at least half-time. You apply for this loan by submitting a FAFSA. Repayment does not begin until the student is below half-time enrollment
• The Federal Direct Subsidized Stafford Loan is awarded on the basis of financial need. Currently, if you qualify for this loan, the government pays the interest on the loan while you are in school. There are yearly and aggregate limits. The interest rate is fixed at 6.8%. You apply for this loan by submitting a FAFSA. Repayment does not begin until the student is below half-time enrollment
• The Federal Direct Unsubsidized Stafford Loan is not awarded on the basis of need. However, students must complete the FAFSA in order to be considered for this loan. Interest is charged on the loan from the time the loan is disbursed until it is paid in full. Students may elect to pay the interest while in school or allow it to accumulate and be added to the principal loan amount. There are yearly and aggregate limits. The interest rate is fixed at 6.8%. You apply for this loan by submitting a FAFSA. Repayment does not begin until the student is below- time enrollment
• The Federal Direct Parent Loan for Undergraduate Students (PLUS) is not based on financial need. Only parents or dependent undergraduate students may apply for this loan. A parent is currently defined as a student’s natural or adoptive mother or father or step-parent. Parents are required to pass a credit check. The annual limit is equal to the student’s cost of attendance, as defined by Louisiana State University, minus any other financial aid the student is receiving. There are two methods of repayment. Borrowers may begin repayment 60 days after the loan disburses, or may request that repayment be deferred until the student graduates or ceases to be enrolled at least half-time. Interest will accrue during the deferment period. The interest rate is fixed at 7.90%. Interested parents can also print a PLUS loan application from our Forms page.
• The Federal Direct Graduate Loan for graduate students is not based on financial need and is limited to a graduate/professional student. The annual limit is equal to the student's cost of attendance, as defined by Louisiana State University, minus any other financial aid the student is receiving. Students are required to pass a credit check. The interest is a fixed 7.9%.

 - N -

 Need-based Aid

Aid programs for which you must demonstrate financial need in order to qualify. Students must complete the FAFSA. Financial need is determined from answers you provide on the FAFSA.

 - O -

 Outside Scholarship

A scholarship funded by sources outside Student Financial Aid. These sources include corporations, individuals, or University departments, schools and colleges.

 -P-

 PLUS (Parent Loan for Undergraduate Students)

The Federal Direct Parent Loan for Undergraduate Students (PLUS) is not based on financial need. Only parents or dependent undergraduate students may apply for this loan. A parent is currently defined as a student's natural or adoptive mother or father or step-parent. Parents are required to pass a credit check. The annual limit is equal to the student's cost of attendance, as defined by Louisiana State University, minus any other financial aid the student is receiving. Repayment begins 60 days after the loan disburses, or the borrower may request to defer repayment until the student graduates or ceases to be enrolled at least half-time. The interest rate is fixed at 7.90%. Interested parents can also print a PLUS loan application from our Forms page.

 Pell Grant

Awarded on basis of financial need as determined by information submitted on the FAFSA. Awarded to students pursuing their first undergraduate degree. Students must maintain satisfactory academic progress. Amounts vary according to enrollment status and need. The maximum grant for 2012-2013 is $5500. Grant amounts are based on Expected Family Contribution and enrollment status: full time (12+ credit hours), three-quarter time (9-11 credit hours), one-half time (6-8 credit hours), and less than half time (fewer than 6 credit hours). Students apply for the Pell grant by submitting a FAFSA.

 Perkins Loan

The Federal Perkins Loan is a fixed, low-interest (5%) loan awarded on the basis of financial need. No origination fee is charged. Funds are limited. You apply for this loan by submitting a FAFSA. Repayment does not begin until the student is below half-time enrollment.

 - R -

 Refund Check

A check you receive from Louisiana State University for any funds remaining in your student account after aid has been disbursed and fees paid.

 - S -

 SAR (Student Aid Report)

The report you receive as a result of filing the FAFSA or Renewal FAFSA.

 Stafford Loan

Either of the student loans offered by Louisiana State University: subsidized and unsubsidized. Interest rates for both loans are 6.8% fixed. There are yearly and total limits for student borrowers. Students apply for these loans by indicating their interest in loans on the FAFSA. Repayment does not begin until the student is below half-time enrollment

 Student Account

An account to which your financial aid is disbursed. These funds pay your tuition and fees or receivables owed to Louisiana State University. If funds remain after fees are paid, the balance is refunded to you via a refund check.

 Subsidized Loan

The Federal Direct Subsidized Stafford Loan is awarded on the basis of financial need. Currently, if you qualify for this loan, the government pays the interest on the loan while you are in school. There are yearly and aggregate limits. The interest rate is fixed at 6.8%. You apply for this loan by submitting a FAFSA. Repayment does not begin until the student is below half-time enrollment.

 - U -

 Unsubsidized Loan

The Federal Direct Unsubsidized Stafford Loan is not awarded on the basis of financial need. Interest must be paid while the student is in school or added to the balance of the loan. Repayment does not begin until the student is below half-time enrollment. There are yearly and aggregate limits. The interest rate is fixed at 6.80%. You apply for this loan by submitting a FAFSA.

 - V -

 - W -

 Work Study

A form of financial aid which must be earned. Work-study is need-based aid. Funds are limited. You indicate your interest in work-study on the FAFSA.