FINANCIAL AID

 A BRIEF INTRODUCTION TO FINANCIAL AID 
Financial aid programs provide support for students to help meet the costs of
obtaining a college education. Funding for such programs is provided by the
federal and state governments, the individual colleges and universities, and a
variety of other public and private sources.

Financial aid is split up into two categories based on the reason the money is
awarded:

    Achievement-based aid is awarded to students who have a special
characteristic, skill, talent, or ability. Typically achievement-based aid is
in the form of scholarships.

    Need-based aid is provided to students who demonstrate financial need.
Most financial aid, particularly public-funded aid, is awarded on the basis of
financial need determined through the application process and in accordance
with a prescribed federal formula.

4 BASIC TYPES OF FINANCIAL AID PROGRAMS AVAILABLE

GRANTS: Federal or state gift assistance with no obligation for work or 
repayment.

LOANS: Providing funds now, but with a future repayment obligation.

SCHOLARSHIPS:  Gift assistance with no obligation for work or 
repayment.

WORK-STUDY:  Part-time work while attending the institution.

Most often, financial aid will come to you in the form of a package consisting
of a combination of the different types of aid available. The combination of
aid offered depends on the availability of funds, your eligibility, the
timeliness with which the application process is completed, and your year in
school.



T.O.P.S.
Louisiana's Tuition Opportunity Program for Students
For any TOPS information, plus much more.

TOPS TECH
This program is designed for students attending two-year schools 
such as Delgado or Louisiana Technical Institute. Course 
requirements vary from the regular TOPS program. An ACT composite 
score of 17 is required. More information is provided in the 
guidance office.
http://www.osfa.state.la.us/schgrt6.htm

To be considered for the TOPS scholarship, you must complete all
courses in the TOPS core curriculum with a minimum 2.5 GPA on 
these core courses. In addition, students must have a minimum ACT 
composite score of 20. 

In order for an ACT or SAT score to be considered, the student 
must enter the code 1595 on the ACT registration form or code 
9019 on the SAT registration form.  LIST THIS CODE FIRST WHEN YOU 
SELECT YOUR SCORE REPORT OPTIONS.
*


LOUISIANA OFFICE OF STUDENT FINANCIAL ASSISTANCE---TOPS
(800) 259-LOAN/(800) 259-5626 ext.1012        (255) 922-1012


TOPS

                FAFSA 
*FREE APPLICATION for FEDERAL STUDENT AID*
Complete and file the FAFSA and find links to the federal 
financial programs and federal I.D. registration. www.fafsa.ed.gov

COMPLETING THE FAFSA
Explains how to complete the Free Application for Federal Student 
Aid (FAFSA).
It explains the purpose of the FAFSA questions. This site also 
contains a
section that provides answers to several frequently asked 
questions (FAQs).
Deadline July 1.

The Louisiana Office of Student Financial Assistance (LOSFA) is 
pleased to announce the launch of Louisiana Connect, a 
comprehensive, college & career planning resource just for you! 
LOSFA

Leveraging Educational Assistance Partnership (LEAP):

This program uses federal and state funds to provide need-based 
grants to academically qualified students. LOSFA allocates funds 
to
post-secondary institutions, which include Louisiana 
colleges/universities,
technical institutes and proprietary schools, based upon the 
school's prior
fall enrollment.
LEAP Grants

LOUISIANA GO GRANT PROGRAM
The purpose of this program is to provide a need-based component 
to the state's financial aid plan to support nontraditional and 
low to
moderate-income students who need additional aid to afford the 
cost of
attending college.
GO GRANTS

The Louisiana Education Loan Authority (Lela) is, a non-profit 
public trust established to bring financing assistance and 
advantages to the
people of Louisiana. Lela, the student loan division of the LPFA, 
acts as a
low cost source of student loan financing for higher education.
SCHOLARSHIP SITE IS VERY INFORMATIVE. CHECK IT OUT!!
Louisiana Education Loan Authority

ESTIMATED FAMILY CONTRIBUTION CALCULATOR
Multiple calculators (college cost, expected family contribution 
and financial aid, and loan).
EFC Calculator

FIN AID
This site brings together a good deal of information on financial 
aid and how to apply for it, including calculators to estimate their 
EFC
(Expected Family Contribution).
FIN AID

FIN AID - CALCULATORS
Dozens of tools for calculating college costs, loan payments, 
savings, and the expected family contribution (EFC).
FIN AID Calculators

WILLIAM D. FORD FEDERAL DIRECT LOAN PROGRAM
Go to the student page to learn more about Direct Loans, how to 
apply, where to go for online loan counseling, what free 
publications are
available, and how to avoid default.
DIRECT LOAN PROGRAM

NATIONAL ASSOCIATION OF STUDENT FINANCIAL AID ADMINISTRATORS
www.NASFAA.org
N.A.S.F.A.A. is an association of over 3,000 colleges, 
universities, career schools, and others with an interest in the 
effective
administration of student financial aid. This web site provides 
information on
the financial aid process and directs you to some of the more 
important and
helpful financial
aid guidance on the web.
NASFAA

NELLIE MAE
Nellie Mae helps you be brilliant by providing intelligent 
student loan programs to help families pay for college. We work in 
partnership
with the brightest school administrators to make student loans 
accessible and
offer timely guidance about borrowing wisely.
NELLIE MAE

STUDENT GUIDE TO FEDERAL AID PUBLICATION
A comprehensive resource on student financial aid from the U.S. 
Department of Education. Grants, loans, and work-study are the 
three major
forms of aid available through the Department's Federal Student 
Aid office.
STUDENT GUIDE TO FEDERAL AID PUBLICATION

TYPES OF STUDENT FINANCIAL AID
Pell Grants, Campus Based Programs, Federal Supplemental 
Educational Opportunity Grant, Federal Work Study, Federal Perkins 
Loan; FFEL
& Direct Loan Programs, Stafford Loan and PLUS Loan, Consolidation 
Loan.
TYPES OF STUDENT FINANCIAL AID

U.S. NEWS: FINANCIAL AID AWARD COMPARISONS
Compare financial aid packages/ awards . Financial aid awards 
often vary greatly, and comparing them can be difficult. This work 
sheet helps
you calculate your out-of-pocket costs for each college.
AWARD COMPARISON WORKSHEET

COST OF COLLEGE CALCULATOR
Estimate the cost of a college education.
COST OF COLLEGE CALCULATOR

COLLEGE SAVINGS CALCULATOR
Find out how much you need to save every month so that you are 
financially prepared for college.
COLLEGE SAVINGS CALCULATOR

EXPECTED FAMILY CONTRIBUTION CALCULATOR
Get a ballpark estimate of your expected family contribution 
(EFC), an important factor in determining federal financial aid.
COLLEGE TOOLKIT CALCULATOR

FINANCIAL AID AWARD EVALUATOR
Compare financial aid award packages from various schools side by 
side.
FINANCIAL AID AWARD EVALUATOR

FINANCIAL AID GLOSSARY
Wondering what FAFSA, EFC, and COA stand for? Check out this
glossary to get some answers about commonly used financial aid, 
scholarship,
and college terms.
FINANCIAL AID GLOSSARY

GUIDE TO FEDERAL FINANCIAL AID
The federal government is the #1 source of financial aid for 
college-bound students. Learn more about which programs you may 
qualify for
and how you can take advantage of these opportunities.
GUIDE TO FEDERAL FINANCIAL AID

LOAN REPAYMENT CALCULATOR
Determine the monthly payments needed to pay off your student 
loans.
LOAN REPAYMENT CALCULATOR

BORROWER BENEFITS CALCULATOR
Estimate how much you can save by taking advantage of a bank's 
borrower benefit programs.
BORROWER BENEFITS CALCULATOR

LOAN CONSOLIDATION CALCULATOR
Find out how consolidating your loans may impact your repayment 
terms.
LOAN CONSOLIDATION CALCULATOR

VALUE OF COLLEGE CALCULATOR
Get a sense for how valuable a college education really is by 
comparing earnings with and without a college degree.
VALUE OF COLLEGE CALCULATOR

WHEN THE NUMBERS DON'T ADD UP
Feel like your financial aid award package isn't enough to make 
college affordable? Don't lose hope. Learn about some steps that 
you may be
able to take as part of the appeals process to financial aid 
offices. While
college is expensive, it shouldn't leave you bankrupt.
TIPS ON HOW TO APPEAL YOUR AWARD

COLLEGE EXPENSE WORKSHEET
Develop a budget of all your college living expenses.
COLLEGE EXPENSE WORKSHEET

YOUR FINANCIAL AID AWARD EXPLAINED
UNDERSTANDING YOUR FINANCIAL AID AWARD

SELECTING A FINANCIAL AID PACKAGE
Now come the letters you've been waiting for: financial aid award 
letters. It is your task to sit down with your family and determine 
which aid
award best meets your needs.
SELECTING A FINANCIAL AID PACKAGE

HOW TO COMPARE FINANCIAL AID AWARDS
HOW TO COMPARE AWARDS

DEALING WITH THE FINANCIAL AID OFFICE: SHOULD YOU APPEAL YOUR AID 
AWARD?
SHOULD YOU APPEAL?

FEDERAL STUDENT AID on the WEB
A portal of information on: Applying for College; Applying for 
Financial Aid; Federal Student Aid.; Wizards and Searches; and 
Publications.
STUDENT AID PORTAL

Salmen High School