/Institutions/Southern-University-System/json/2022-2023/Southern-University-at-Shreveport-Academic-Catalog-local.json

/Institutions/Southern-University-System/json/2022-2023/Southern-University-at-Shreveport-Academic-Catalog.json

Southern University at Shreveport Academic Catalog > Financial Aid > Sources of Financial Aid

Sources of Financial Aid

Federal Funds

There are several types of grants a student may obtain at Southern University at Shreveport. They are as follows: Federal Pell Grant, Federal Supplemental Educational Opportunity Grant, Veterans’ Benefits, Vocational Rehabilitation, Armed Forces Reserve, and National Guard. For information on military-related stipends, contact the Registrar’s Office.

Federal Pell Grant –

The Federal Educational Amendment of 1972 established a program that entitles all eligible students to receive Federal Pell Grant awards. These awards range from $564-$5,775 for an academic year; depending on the student’s eligibility as determined by the U.S. Department of Education, his/her enrollment status and the institution’s cost of education.

Federal Supplemental Educational Opportunity Grant – Southern University at Shreveport, in cooperation with the federal government, has limited funds to provide grants to eligible students. The amount of the grant is based on the individual student’s financial need and the availability of funds.

Loans –

Southern University at Shreveport currently provides loans to students through the William D. Ford Direct Loan Program. Direct loans are provided by the federal government rather than a commercial lending institution. The university’s office of student Financial Aid administers the loans; determines loan eligibility; approves the loan; confirms the promissory note, when necessary; receives the funds from the federal government; and credits the loan amount directly to a university student account.

To be eligible for Federal Direct Loans, students must submit a FAFSA and be enrolled in at least six (6) credit hours. The financial aid loan coordinator will use information from the FAFSA to determine eligibility for a Parent Plus, Subsidized and/or Unsubsidized Loan.

Subsidized Direct Loans –

Funds are awarded on the basis of financial need. The interest rate is fixed at 1.07% for 2015-2016 award year.

Unsubsidized Direct Loans –

Loan is not based on financial need. The interest rate is fixed at 1.07% for 2015-2016 award year.

Parent PLUS Loans –

Federal PLUS Loans enable parents with good credit histories to borrow funds to pay the education expenses of each child who is a dependent undergraduate student. PLUS Loans have fixed interest rate of 6.41% starting with PLUS loans disbursed after July 1, 2014. A fee of 4.292% of the loan can be deducted proportionately from each disbursement.

Student Employment

Southern University at Shreveport provides jobs for students who need financial assistance using funds from the federal government. Through the Federal Work-Study Program, the office of Financial Aid arranges jobs for students on- and off-campus with private non-profit agencies. Students are paid at least the hourly minimum wage. Interested students should apply in the Financial Aid Office.

Veterans’ Benefits –

All veterans, spouses and dependents of deceased or disabled veterans must acquire a Certificate of Eligibility from the Veterans Administration Office prior to registration. Students must mail or bring the Certificate of Eligibility to the Registrar’s Office for authenticating and processing.

Vocational Rehabilitation –

A student who has a physical disability may obtain assistance for tuition and books through the Louisiana Department of Education (Division of Vocational Rehabilitation). Students who feel they may qualify should apply for assistance to the nearest rehabilitation office. A non-resident is herein defined as an individual who cannot provide proof of eligibility for assignment of resident status under the regulations prescribed in this section.

Workforce Investment Act (WIA) –

The WIA funding is available for individuals to fund short-term training programs that have been approved by the local Workforce Investment Board (WIB). To qualify for funding to attend the training programs, students must apply in the workforce region of residence and meet specific requirements.

WIA is designed to enhance customer choice through a system of Individual Training Account (ITA) vouchers, while assuring program quality through a provider certification system. SUSLA is a state approved training provider through the provider certification system. The intent of WIA is to empower individuals by allowing them to choose the program of training or education they need, giving them the information to make informed decisions, and increasing accountability and quality among providers.