Academic plan
Form completed with the student’s academic advisor as part of the Satisfactory Academic
Progress appeal. The advisor submits the plan online on their myLSU account and it
is received the next day by Financial Aid. The plan is a set of enrollment guidelines
a student must comply with to regain good satisfactory academic progress standing.
If students do not meet the requirements set out in the academic plan for each period
of enrollment, future financial aid eligibility will be suspended.
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Academic year
For financial aid purposes, a year that starts with the summer semester and ends with
the spring semester.
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B
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Billing statement
A document available to students that provides a detailed listing of all charges and
credits with the university.
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Bursar Operations
The primary service unit for managing student financial records, billing needs and
payments. LSU’s Bursar Operations Office is located in the main lobby of Thomas Boyd
Hall.
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C
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Complete registration
Students complete registration when they pay all necessary fees and submit all needed
documentation in order to enroll for the upcoming semester. Students who have a fee
balance of $0 still need to complete registration by clicking the “Complete Registration”
button on their MyLSU account under Registration Services, Fee Bill.
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Cost of attendance
The estimated total amount it will cost to attend an institution. It is determined
by Financial Aid using rules established by the U.S. Congress. Cost of attendance
is based on average costs incurred by students and it includes tuition, room/board,
books, transportation, and personal miscellaneous expenses. This figure is used solely
for the determination of financial aid and does not represent a figure you will owe
the University.
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D
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Dependent status
Students that are not able to answer “yes” to any of the dependency questions on the
FAFSA and must provide parental information. The dependency questions ask if the student
is 24, married, has a dependent, is on active duty, etc.
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Disbursement
The payment of funds from the Department of Education to the university.
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E
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Enrollment Status
Based on the number of hours students enroll for each semester. A student’s enrollment
status can affect their financial aid eligibility for certain programs.
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Entrance Counseling
A requirement for first-time borrowers to learn about the rights and responsibilities
as a student loan borrower completed on studentloans.gov.
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Expected Family Contribution (EFC)
The EFC is calculated using a federally mandated formula to determine a student’s
need based eligibility based on the information submitted on the FAFSA. The EFC is
not the amount you are expected to pay to attend.
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F
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FAFSA
Free Application for Federal Student Aid -- the application used to determine financial
need.
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Fee bill
Fee bills are generated about one month prior to each semester. Students must pay
their fee bill in order to enroll for the upcoming semester.
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Financial aid counselor
Each student is assigned a financial aid advisor to help the student with the financial
aid process and answer any questions. All undergraduate students are divided alphabetically
by last name. The graduate professional and online graduate students are assigned
a specific counselor.
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Financial Aid Package
An offer of financial aid that may include a combination of scholarships, grants,
loans, or work study funds available on the student’s MyLSU account.
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Financial Aid Transcript
This is an internal document typically completed for students transferring in for
the spring semester. The student does not need to submit anything for this request.
Financial Aid will verify what aid, if any, the student received for the fall before
offering a financial aid package for the spring semester.
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Financial Need
The difference between your Expected Family Contribution and Cost of Attendance (budget)
as determined by LSU Financial Aid.
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G
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Gift Aid
A form of financial aid that does not have to be repaid or earned.
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Grace Period
A period of time granted to loan borrowers during which no payment is due. After a
student graduates, leaves school, or drops below half time, they enter a grace period
of usually six months.
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Grant
A form of need based financial aid that does not have to be repaid or earned.
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I
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Independent status
Students are considered independent if they can answer “yes” to one of the dependency
questions on the FAFSA. These questions ask if the student is 24, married, has a dependent,
is on active duty, etc. Students that are self-supporting are not necessarily considered
independent.
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Institutional Student Information Record (ISIR)
A record produced by the Central Processing System that is sent to LSU with a student’s
calculated Expected Family Contribution. The ISIR is an institutional version of a
student’s FAFSA.
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L
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Loan
A form of financial aid that must be repaid.
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Loan interest rate
A loan expense charged for the use of borrowed money. Interest is paid by a borrower
to a lender. The expense is calculated as a percentage of the unpaid principal amount
of the loan. Interest will continue to accrue until the loan(s) has been fully repaid.
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M
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Master promissory note
A legal document in which students promise to repay loan(s) and any accrued interest
and fees to the U.S. Department of Education.
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N
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Need-based Aid
Aid programs that students must qualify for by demonstrating financial need. Financial
need is determined based off of the FAFSA.
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O
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Outside Scholarship
A scholarship funded by sources outside LSU Financial Aid. These sources can include
corporations, individuals, or other academic departments at LSU. The scholarship will
not apply on the student’s fee bill until the university has received the funds.
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R
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Refund Check
A check you receive from LSU for any funds remaining in your student account after
aid has been disbursed and all balances have been resolved.
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Registrar's office
Office at the university that maintains student records.
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S
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SAP (satisfactory academic progress)
Policy required by the Department of Education ensuring students are moving toward
obtaining a degree in a timely, acceptable manner. Students must meet the university’s
SAP policy in order to maintain federal financial aid eligibility.
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Student Account
An account where financial aid is disbursed. These funds pay a student’s tuition and
fees or receivables owed to LSU. Funds remaining after all fees have been paid will
be refunded to the student via a refund check.
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Student Aid Report (SAR)
The report a student receives after filling out the FAFSA.
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T
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Tax return transcript
Official copy of a student’s tax return requested from the IRS. Students can request
the transcript by phone or online at irs.gov. Per regulations from the Department
of Education, only the tax transcript can be used for verification purposes.
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V
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Verification selection
About 30 percent of students are selected for verification by the Department of Education.
All students selected must provide requested documents so Financial Aid can verify
the information submitted on the FAFSA is correct before the student’s financial aid
eligibility can be determined.
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W
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Work Study
A form of financial aid that must be earned through working in a student job. Work
study is need-based and funds are limited. Students indicate interest in work study
on the Student Data Form requested by the Financial Aid Office once the FAFSA is received.
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