How much federal loan funding is available?
Award amounts vary and depend upon your financial need (as determined by the federal government), grade level, and dependency status.
Yearly Loan Limits
- Dependent Classification
- $5,500 – Freshman (0–29 hours)
- $6,500 – Sophomore (31–59 hours)
- $7,500 – Junior/Senior (60+ hours)
- Independent Classification
- $9,500 – Freshman (0–29 hours)
- $10,500 – Sophomore (31–59 hours)
- $12,500 – Junior/Senior (60+ hours)
- Graduate/Professional: $20,500
Aggregate Loan Limits
- $31,000 as a dependent undergraduate student.
- $57,500 as an independent undergraduate student (only $23,000 may be subsidized).
- $138,500 as a graduate or professional student (only $65,500 may be subsidized). Graduate debt limit includes any Stafford Loans received for undergraduate study.
Aggregate limits include both Direct Subsidized and Unsubsidized Loans and any subsidized and unsubsidized Federal Stafford Loans received through the FFEL Program.
Can I get financial aid for summer school?
Certain grants and loans are available during the summer. Complete the Summer Aid Application (available in April) and submit it to the Office of Financial Aid for eligibility determination.
I have financial aid now, but what about next year? Is it necessary to apply again?
Yes. You must apply each year to renew your financial aid. After October 1, review your renewal FAFSA record online, update it with the prior year’s income (and any other changes), and submit it electronically. Specify NSU school code 002021. When processed, the Federal Processor will notify you by email.
If you have an FSA ID, you can view your FAFSA Submission Summary on the FAFSA website. A paper summary is mailed only if no email address is provided on the FAFSA.
The U.S. Department of Education must receive your FAFSA by May 1 for priority need-based funding. You may still apply after May 1, but some aid may not be available.
What is a Parent PLUS Loan?
A Parent PLUS Loan is an unsubsidized loan for the parents of dependent students. It can cover up to the cost of attendance minus other financial assistance. Interest is charged during all periods. The borrower must be the student’s biological or adoptive parent (or stepparent, if remarried) and the student must be a dependent enrolled at least half-time.
- Credit check & endorser alternative: Applicants must not have adverse credit history. If they do, they may still borrow with a creditworthy endorser who is not the student.
- Loan limits, interest, and fees: No set limits; cannot exceed cost of attendance minus other aid. Interest rate is fixed per federal formulas; an origination fee is deducted from each disbursement.
What if my parents are denied a PLUS Loan?
Dependent students whose parents are unable to obtain a PLUS Loan may be eligible for additional Direct Unsubsidized Loan funds.
What is the difference between a subsidized loan and an unsubsidized loan?
- Subsidized: Need-based; no interest charged while enrolled at least half-time, during a six-month grace period, or during authorized deferment.
- Unsubsidized: Not need-based; interest accrues throughout the life of the loan.
Students are considered for subsidized loans first.
To whom do I speak about a question or problem with my bill?
Billing and student account issues are handled by the Cashiers Office (3rd floor, Student Services Center). Phone: 318-357-6902 · Email: studentaccounting@nsula.edu
What is the Satisfactory Academic Progress Standard and how does it apply to me?
The federal government requires students to maintain satisfactory academic progress toward completion of their degrees within a reasonable period of time. All students must meet SAP standards to be eligible for federal funding, including grants, work-study, federal loans, and PLUS loans.
My grade level is going to increase in the spring. Will I be eligible for more financial aid?
You might be eligible for increased Direct Subsidized or Direct Unsubsidized Stafford Loans once grades are posted and your level changes (Freshman → Sophomore at 30 earned hours; Sophomore → Junior at 60 earned hours). Eligibility depends on Cost of Attendance and your initial award and may also affect summer loan eligibility.
How do I apply for all types of aid?
- Complete the FAFSA (Free Application for Federal Student Aid) each year.
- Read all instructions carefully.
- Use your legal name and correct Social Security Number.
- If parents are divorced, provide information for the parent who provided more financial support during the last 12 months; if that parent is remarried, include the stepparent’s income.
- Include NSU school code 002021.
- If required to provide parental information, a parent must also sign the FAFSA.
- If filing electronically, sign using your FSA ID.
- Allow two weeks for processing; if you don’t receive a FAFSA Submission Summary after two weeks, call 1-800-433-3243 (1-800-4FEDAID).
Priority deadline: May 1.
What types of aid are available?
NSU offers grants, loans, work-study, and scholarships. See the Types of Financial Aid page for details.
What is Cost of Attendance or Budget?
Cost of Attendance is an estimated budget of costs for attending NSU (tuition, books, transportation, etc.). Your total aid package (grants, scholarships, loans, etc.) cannot exceed your Cost of Attendance budget.
What is verification?
Verification is a review process to confirm the accuracy of your financial aid application. You and, if applicable, your parent(s) may be required to submit documentation such as tax return transcripts, W-2s, and verification worksheets.
Applications are randomly selected by the federal processor. If an asterisk appears next to your Student Aid Index (SAI) on your FAFSA Submission Summary, you were selected. Schools may also select additional students. Discrepancies can require further documentation before aid can be awarded.
What is an SAI?
Student Aid Index (SAI) is a number determined by the U.S. Department of Education and is subtracted from your Cost of Attendance to determine eligibility for Pell Grants, other grants, and need-based aid.
What if I do not have aid posted but I am eligible?
- Visit: How to Apply
- Call: 1-800-823-3008 or 318-357-5961
- Email: nsufinaid@nsula.edu
- Visit in person: Natchitoches Campus (212 Student Services Center) or Shreveport Campus (102 Administrative Building)
When should I apply for financial aid?
- Complete the FAFSA and required paperwork by May 1 for federal aid.
- Scholarship application priority consideration: December 1.
Will my financial aid be affected if I drop a class?
All recipients are subject to SAP policies: passing the required number of hours, meeting GPA requirements, and not exceeding maximum attempted hours. Dropping classes can impact both hours earned and total attempted hours.
How do I appeal to get my financial aid back?
Students who fail to meet SAP may appeal by completing a Financial Aid Appeal Form. Deadlines:
- Fall appeals: Priority deadline July 15 · Final deadline September 30
- Spring appeals: Priority deadline January 2 · Final deadline February 28
- Summer appeals: Priority deadline June 6 · Final deadline July 15
Additional information on the appeal process: Click here
What is a Master Promissory Note?
The Master Promissory Note (MPN) opens a line of credit for education expenses during your academic career. By signing, you promise to repay your student loan(s) and acknowledge borrower rights and responsibilities.
As a dependent student, is there additional aid available?
Aid amounts are based on eligibility and need. You may be eligible for additional grants or a Parent PLUS Direct Loan. If a parent is denied a Parent PLUS Direct Loan, additional loan proceeds may be certified for the student.
What is an overaward?
Federal and University of Louisiana System rules state that a student cannot receive aid in excess of their Cost of Attendance. If aid exceeds the budget, funds must be returned or adjusted.
After a resignation from school, why do I owe money?
After an official or unofficial withdrawal, a refund and/or repayment evaluation must be performed to determine eligibility for refund or repayment. Federal regulations require calculation based on time enrolled; you must earn more than 60% of your aid by attending more than 60% of class time to keep all aid disbursed.
Note: If a recipient of federal aid stops attending class without officially resigning, a last date of attendance will be applied based on instructor information and appropriate refunding applied.
Can the TOPS Tech award be used at NSU?
Yes, in the following degree programs:
- Engineering Technology (AS)
- Nursing (ASN only)
- Veterinary Technology (AD)
How do I maintain eligibility for academic scholarships?
You must maintain a specific semester GPA (listed on your scholarship award letter; contact the office if needed) and enroll in 12 hours each regular semester.
What happens to my academic scholarship if I sit out a semester?
You must be continually enrolled each fall and spring semester. You may submit an academic scholarship appeal form prior to sitting out and include a statement and documentation explaining why you plan to sit out.
Can audit courses be used to receive financial aid?
No. Audit course hours cannot be used to fulfill your hour requirement for financial aid.
Why is it when I try calling your office I can never get through?
During peak times, the office handles several hundred phone calls per day across two incoming lines. If you’re nearby, consider stopping by in person. You may also email the office.
When will I receive my refund?
After awards have been applied to student accounts, any remaining balance owed to the student will be refunded shortly after the late registration period.
When will my financial aid be awarded?
Your aid is awarded upon completion of all financial aid paperwork. To ensure awarding by the fall semester, complete all paperwork by May 1.
I did not meet the Financial Aid Progress standards, what do I do?
There are options to regain eligibility. See the Satisfactory Academic Progress page for detailed information.
What happens if my charges increase after my book voucher is used?
If your financial aid covers total charges (including bookstore charges), no additional payment is required. If not, you’re responsible for the remaining balance. Balances may be subject to installment plan and late fees.