Types of Aid

Types of Aid

There are many types of aid available to help you pay for the costs of tuition and fees at Xavier University of Louisiana. Our financial aid office will work hard to make sure you are informed about the many types of aid available to you and guide you through the process of securing financial assistance.

Grants

Only undergraduate students who have not received a bachelor's degree may apply for the grant programs listed below.

Federal Pell Grant Program (FPELL)
This is a grant available to undergraduate students who demonstrate financial need based on the Federal Methodology Formula.

Effective 2012-2013, no student will be eligible to receive more than 12 semesters or its equivalency of Federal Pell Grant.

Federal Supplemental Educational Opportunity Grant Program (FSEOG)
This is a grant available to undergraduate students who demonstrate exceptional financial need. The award ranges from $200 to $4,000 per academic year. Only a limited amount of FSEOG can be awarded each year due to funding constraints.

The Teacher Education Assistance for College and Higher Education (TEACH) Grant Program
The TEACH grant is a federally funded program created by the College Cost Reduction and Access Act (CCRAA). It became effective the 2008-2009 award year. The TEACH grant provides up to $4,000 a year in grant assistance to students who plan on becoming a teacher and meet certain specified requirements. If a student who receives a TEACH grant does not complete the required teaching, the grant must be repaid as a Direct Unsubsidized Loan under the William D. Ford Federal Direct Loan Program.

Louisiana Go Grant (LAGO)
The La Go Grant is a need-based grant offered by the State of Louisiana to support nontraditional and low to moderate-income students who need additional aid to afford the cost of attending college.

To be eligible for a Louisiana Go Grant, a student must:

  • Be a Louisiana Resident;*
  • File a Free Application for Federal Student Aid (FAFSA);
  • Receive a federal Pell grant;
  • Have remaining financial need after deducting Estimated Family Contribution (EFC) and all federal/state/institutional grant or scholarship aid ("gift aid") from student's Cost of Attendance (COA);
  • Be a student enrolled in an eligible Louisiana institution on at least a half-time basis (minimum 6 hours at semester school or 4 hours at a quarter school).

The amount of the grant is based upon the number of hours in which the student is enrolled at the end of the 14th class day for each semester:

At least half-time enrollment (6-8 hours) = $500 per semester

At least 3/4-time enrollment (9-11 hours) = $750 per semester

Full-time enrollment (12 or more hours) = $1,000 per semester

Note: Part-time students (enrolled less than 6 hours) are no longer eligible.

All gift aid, inclusive of the Go Grant, may not exceed sixty percent of a student's need, as calculated by using a student's cost of attendance and subtracting the expected family contribution.

Example:
COA = $17,500
EFC = 1,500
Need 16,000
60% of need (16,000) = $9,600
Gift aid, inclusive of the Go Grant amount should not exceed $9,600 for this student. Examples of gift aid include Federal Pell Grant, Federal SEOG, TOPS, TOPS stipends and institutional scholarships.

Federal Work-Study
The Federal Work-Study (FWS) Program provides part-time employment to undergraduates, graduates, and professional students with a financial need. FWS assists students to gain job responsibility and experience while working around their class schedules. FWS funds are earned hourly and paid to the student on a monthly basis. Along with other forms of financial aid, FWS is awarded to assist students with their educational expenses. FWS funds are not applied to tuition, fees, or bookstore charges.

Types of Loans

  • Federal Direct Loan
  • Perkins Loan

William D. Ford Federal Direct Loan Program
Subsidized loans are loans for which the borrower is not responsible for the interest while the student is enrolled in college on at least a half-time basis, when the loan is in the six-month grace period after the student is no longer enrolled at least half-time, or if the loan is in a deferment status. This provision eliminates the interest subsidy provided during the six-month grace period for subsidized loans for which the first disbursement is made on or after July 1, 2012, and before July 1, 2014. If you receive a subsidized loan during this timeframe, you will be responsible for the interest that accrues while your loan is in the grace period. You do not have to make payments during the grace period (unless you choose to) but the interest will be added (capitalized) to the principal amount of your loan when the grace period ends. This provision does not eliminate the interest subsidy while the borrower is in school or during eligible periods of deferment. Federal Direct Subsidized loans will not be eligible for an interest subsidy during the six-month grace period.

For current interest rates visit: www.studentloans.gov.

Effective for loans made for payment periods that begin on or after July 1, 2012, graduate and professional students are no longer eligible to receive subsidized loans. However, if you are a graduate or professional student studying to get a Master's degree, you may still qualify for up to $20,500 in unsubsidized loans each year.

The U.S. Department of Education can no longer offer borrowers repayment incentives.
Effective for loans first disbursed on or after July 1, 2012, the Department of Education is prohibited from offering any repayment incentives to Federal Direct Loan borrowers, except interest rate reductions to borrowers who agree to have payments automatically electronically debited from their bank account.

Federal Perkins Loan
Under the Federal Perkins Loan Program, the school makes the loan to the student borrower. A Federal Perkins Loan is a low-interest (5%) loan for both undergraduate and graduate students with exceptional financial need.

When you participate in the Federal Perkins Loan Program, your school is your lender. The loan is made with government funds. You must repay this loan to your school, or to the billing service engaged by your school as its agent to administer billing and collection functions.

About the Federal Perkins Loan

  • A need-based loan
  • May be used only for educational expenses
  • The interest rate is fixed at 5 percent
  • Interest on the loan does not accrue while you are in school, during your grace period, or during authorized periods of deferment

Other Types of Loans

Loan for Disadvantaged students: Pharmacy Students Only
The loan for Disadvantaged Students program provides loans to full-time, financially needy students from disadvantaged backgrounds enrolled in health professional programs. The U. S. Department of Health and Human Services defines an individual from a disadvantaged background as "one who comes from an environment that has inhibited the individual from obtaining the knowledge, skill, and abilities required to enroll in and graduate from a health professions school, or from a program providing education or training in an allied health profession, or comes from a family annual income below a level based on low income threshold according to family size published by the U.S. Bureau of Census". In order to determine eligibility for the loan, a student must provide parental income on their FAFSA regardless of the student's age or dependency status.

Health Professional Loans
The Health Professions Student Loan program provides long-term, low interest rate loans to full-time, financially needy students to pursue a degree in Pharmacy. In order to determine loan eligibility, a student must provide parental income on their FAFSA regardless of the student's age or dependency status.

Alternative Lenders
Non-Federal Private/Alternative loans are private loans made through lending institutions. The loans are not part of the federal government programs. Alternative loans are more expensive than federal government guaranteed loans and should only be used when all other funding options have been exhausted. Research all possibilities for scholarships, grants, work-study and federal loan programs before borrowing from an alternative loan program. Free or lower-cost Title IV federal, state, or institutional financial aid may be available in place of or in addition to, a private education loan.

Please note:

  • A private education loan may reduce eligibility for free or lower-cost federal, state, or institutional financial aid
  • You are strongly encouraged to pursue the availability of free or lower-cost Federal financial aid

If you determine you need an alternative loan, we recommend that you review the many alternative loan lenders and research their policies and loan terms to decide the lender of your choice. The best way to locate alternative loan lenders is to do an internet search for "private student loans". Our office cannot suggest nor recommend an alternative lender.

Each applicant is required to complete the Private Education Loan Applicant Self-Certification Form. The form will require information regarding aid that you are currently receiving and the total cost of attendance for Xavier University of Louisiana.

Scholarships
Xavier University of Louisiana offers various scholarships to help students pay tuition and fees.

For additional information about scholarships, please visit: www.xula.edu/academics-scholarships/index.html.

Departmental Scholarships
Academic departments and divisions will provide scholarships based on their criteria. Please check with your individual department. 

External Scholarships
Much like the federal government, the state of Louisiana provides its residents with a variety of funds to help meet the escalating costs of higher education. The Department of Education has posted important information you may find helpful in your scholarship search at the following link: https://studentaid.ed.gov/types/grants-scholarships. Another outside source is: here.

State Grants/Scholarships
These funds are available to students who meet the criteria set by various state higher education agencies. Students should contact those agencies within their state of legal residence for programs and availability.

Taylor Opportunity Program for Students (TOPS)
Louisiana's Taylor Opportunity Program for Students (TOPS) is a comprehensive program of state scholarships. Eligibility is determined by the Louisiana Office of Student Financial Aid Assistance (LOSFA), and only Louisiana residents who are US Citizens or permanent residents who are eligible to apply for US citizenship may apply. The initial eligibility requirements for the TOPS Scholarship Program may be found at the following link: www.osfa.la.gov.

Athletic Scholarships
These scholarships are awarded through the Athletics Department to athletically talented men and women. Information can be obtained by contacting the Athletics Department at the following address:

Director of Athletics
Xavier University of Louisiana
P.O. Box 92
New Orleans, LA 70125