Types of Financial Aid
BPCC participates exclusively in the William D. Ford Federal Direct Loan program, in which borrowers obtain loan funds directly from the U.S. Department of Education.
On March 25, 2010, the U.S. House of Representatives and the U.S. Senate passed The Health Care and Education Affordability Reconciliation Act of 2010 (“HCEARA”-H.R. 4872) . This bill makes major changes in several federal student aid programs AND mandates that, effective July 1, 2010, all federal student loans (Direct, PLUS, and Grad PLUS) will be originated through the Federal Direct Loan Program.
- Direct Subsidized Loan and Direct Unsubsidized Loan Borrower’s Rights and Responsibilities
- Department of Education Annual and Lifetime Limits
- Financial Literacy Resources
What do you need to do?
All student borrowers will need to complete a Master Promissory Note (MPN), with the Department of Education (even if you have completed an MPN in the past with a private lender).
First-time freshmen borrowers must complete an Entrance Counseling Session.
Many students rely on federal government loans to finance their educations. These loans have low interest rates and do not require credit checks or collateral. The federal loan for students is called the Direct Loan and is administered under the William D. Ford Federal Direct Loan program.
Direct loans are available for students meeting certain qualifications. If you are considered a regular student enrolled in an eligible program at least six hours, and you meet all other eligibility requirements such as Satisfactory Academic Progress, you may qualify for a Federal Direct Loan. You must meet all other eligibility requirements
Students are automatically packaged for student loans. An award notification will be sent via email instructing the student to view the awards via LOLA. All students are offered the maximum loan eligibility.
It is the student’s responsibility to accept or decline all or a portion of the loan, via LOLA. Once student has accepted the loan, the school sends an electronic origination file to the Department of Education notifying the Department of the student borrower’s loan eligibility, the loan period, and the anticipated disbursement dates. The Department responds electronically with an accepted or rejected record, based upon the student’s completion of other required documents (Master Promissory Note and Entrance Counseling).
A first-time borrower is required to participate in an Entrance Counseling Session that is available electronically.
Disbursing loan funds:
Before disbursing loan funds, BPCC must first make sure that the student is eligible to receive them. The College must also ensure that the student has maintained continuous eligibility before the loan is disbursed. The most common change that would make a student ineligible for a Direct or PLUS disbursement is if the student has dropped below half-time (6 hours). The Financial Aid Office has a process (certification process) to check the student’s enrollment status (and other eligibility requirements) at the time of disbursement. If the student is deemed ineligible to receive the loan disbursement, the loan funds are cancelled.
If a student is in the first year of an undergraduate program and is a first-time Direct Loan borrower, BPCC may not disburse the first installment of the Direct loan until 30 calendar days after the student’s program of study begins (1st day of class).
If there is more than one term in the loan period, the loan will be disbursed over all terms of the loan period. For example, if a loan period includes two semesters (fall and spring) of an academic year, the loan will be disbursed in two substantially equal disbursements, one at the beginning of loan period, and the second disbursement at the mid-point of the loan period (beginning of the second semester).
If there is only one term in the loan period (example: fall only) the loan must be disbursed in equal amounts at the beginning of the term and at the term’s calendar midpoint (mid-term).
Loan Fees and Interest Rates
Loan fees and interest rates change each year.
National Student Loan Data System (NSLDS)
Once a student has accepted a Direct Student Loan, the BPCC Financial Aid office will “originate” the loan with the U.S. Department of Education COD (Common Origination and Disbursement website. COD will submit all loan information to the National Student Loan Data System (NSLDS), and the information will be accessible by guaranty agencies, lenders, and schools determined to be authorized users of the data system. You may access your loan history at NSLDS by visiting www.nslds.ed.gov.
Types of Federal Direct Loans
Federal Subsidized Student Loan (SUB)
A subsidized loan is awarded on the basis of financial need.
The federal government pays the interest on the loan (subsidizes the loan) while the borrower is enrolled at least half-time and during the repayment grace period.
Students must begin repaying this loan 6 months after you cease to be enrolled at least half-time. Information about Direct Loan interest rates may be found at https://studentaid.ed.gov/sa/.
Time Limitation on Direct Subsidized Loan Eligibility
Time Limitation on Direct Subsidized Loan Eligibility for First-Time Borrowers on/after July 1, 2013
Federal Unsubsidized Student Loan (UNSUB)
The unsubsidized loan is not based on financial need.
The federal government does not pay the interest while the borrower is in school. All interest is the borrower’s responsibility. You will be charged interest from the time the loan is disbursed until it is paid in full. Students can either pay the interest while they are in school or let it accrue. If it is not paid, it is added to the principle (capitalized) when the borrower goes into repayment. If your interest is capitalized, it will increase the amount you have to repay. You can choose to pay the interest as it accumulates; if so, you’ll repay less in the long run.
Students must begin repaying this loan 6 months after you cease to be enrolled at least half-time. Information about Direct Loan interest rates may be found at https://studentaid.ed.gov/sa/.
Federal Parent Loan for Undergraduate Student (PLUS)
The PLUS loan is not need-based. Financial aid resources are subtracted from the student’s cost of attendance. The parent of a dependent student may borrow the remaining amount. There is no annual limit, nor is the EFC considered in PLUS eligibility. The parent should apply online at https://studentaid/ed.gov/sa/.
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Parents: When you apply for a Direct PLUS Loan, the Department of Education will check your credit history. To be eligible for a PLUS Loan, you must not have an adverse credit history. If you are found to have an adverse credit history, you may still borrow a PLUS Loan if you get an endorser who does not have an adverse credit history. An endorser is someone who agrees to repay the Direct PLUS Loan if you do not repay the loan. The endorser may not be the student on whose behalf a parent obtains a Direct PLUS Loan.
The Department of Education will notify the school of the results of the credit check (approved or denied). If approved, the PLUS loan is submitted electronically to the Department of Education. If the credit check results in a denial, the student may be eligible for additional UNSUB loan. If so, the student’s loan awards will be adjusted. A new award notification will be sent via email and the student will need to access LOLA to accept the additional loan funds.
Loan Limits
Annual Loan Limits for Subsidized and Unsubsidized Direct Loans
These amounts are the maximum yearly amounts you can borrow in both subsidized and unsubsidized FFEL loans, individually or in combination. Because you cannot borrow more than your cost of attendance minus the amount of any Federal Pell Grant you are eligible for and minus any other financial aid you will receive, you may receive less than the annual maximum amounts.
You may receive a subsidized loan and an unsubsidized loan for the same enrollment period as long as you don’t exceed the annual loan limits.
Effective July 1, 2008:
If you are a dependent undergraduate student, with sufficient eligibility, each year you may borrow up to:
- $5,500 if you’re a first-year student
(no more than $3,500 of this amount may be in subsidized loans) - $6,500 if you are a sophomore (earned 30 hrs or more)
(no more than $4,500 of this amount may be in subsidized loans).
If you are an independent undergraduate student or a dependent student whose parents have applied for but were denied a PLUS loan (a parent loan), each year you may borrow up to:
- $9,500 if you are a freshman
(no more than $3,500 of this amount may be in subsidized loans)
$10,500 if you are a sophomore (earned 30 hours or more). - (no more than $4,500 of this amount may be in subsidized loans)
Lifetime Loan Limits for Subsidized and Unsubsidized Direct Loans
- Undergraduate Dependent Student – $31,500
(no more than $23,000 of this amount may be in subsidized loans) - Undergraduate Independent Student – $57,500
(no more than $23,000 of this amount may be in subsidized loans)
Borrowing Responsibly
Borrowing responsibly includes borrowing only what you need to pay your education expenses and what you can realistically afford to repay when you leave school. You will be offered the maximum amount for Direct Student Loans, you do not have to accept the maximum amount. Please access this brochure to help you borrow responsibly so you will be able to repay your debt.
Loan Counseling Sessions
Entrance Counseling Session. Before you receive your Direct Loan, the federal government requires that you understand the basics of borrowing.
Resources for Entrance Counseling
- Letter from BPCC Financial Aid Office
- Entrance Counseling Guide for Direct Loan Borrowers
- Entrance Counseling Rights and Responsibilities Summary Checklist
- Federal Student Aid Ombudsman Information
Exit Counseling Session. Before you begin repaying your Direct Loan(s), the federal government requires that you understand the basics of repayment.
Resources for Exit Counseling Information
- Letter from BPCC Financial Aid Office
- Exit Counseling
- Exit Counseling Rights and Responsibilities Summary Checklist
- Understanding Exit Counseling (U.S. Department of Education)
- Federal Student Aid Ombudsman Information
Repaying your Student Loan Debt
After you graduate, leave school, or drop below half-time enrollment, you will need to complete a Direct Loan Exit Interview. You will then receive information about repayment and your loan servicer will notify you of the date your loan repayment begins. We cannot emphasize enough the importance of making your full loan payment on time either monthly (which is the usual pay cycle) or according to your repayment schedule. If you do not make your regular payments, you could end up in default, which has serious consequences. Student loans are real loans—just as real as car loans or mortgages. You must pay back your student loans.
Inceptia Partnership
- You’re not alone when it comes to student loans. Bossier Parish Community College has partnered with Inceptia, a division of National Student Loan Program (NSLP), to provide you with FREE assistance on your Federal student loan obligations to ensure successful, and comfortable, loan repayment.
- Inceptia’s friendly customer representatives may reach out to you during your grace period to answer questions you have about your loan obligation and/or repayment options. They may also contact you if your loan(s) become delinquent.
- Inceptia is not a collection agency. We’ve partnered with them to help you explore a wide variety of possibilities such as alternative repayment plans, deferment, consolidation, discharge, forgiveness, and forbearance options. Inceptia will stay in touch with you via phone calls, letters, and/or emails to help you find answers to your questions and solutions to your issues. For additional resources including information on repayment options, please visit Inceptia’s Federal Student Loan Overview web site.
Each type of loan has its own requirements regarding grace periods (amount of time until your first payment), repayment options, and repayment periods:
Federal Direct Loans
- You have a grace period of six months until your first payment must be received for your Federal Direct Loan.
- Repayment Information from the Department of Education explains available repayment options for Direct Loans, includes examples of monthly payments for different loan amounts, and covers other topics you need to consider when managing your loans. Use the Student Loan Calculator to calculate your monthly payments and compare them to your expected starting salary.
- Income Based Repayment is a new repayment plan for the major types of federal loans made to students including Direct, Grad PLUS, and some Consolidation loans. Under IBR, your required monthly payment is capped at an amount that is intended to be affordable based on your income and family size.
- Your monthly payment will depend on the size of your loans and the length of your repayment period.
Federal PLUS Loans
- The repayment period for all PLUS loans begins on the date the loan is fully disbursed, and the first payment is due within 60 days of the final disbursement.
- Parent PLUS loan borrowers may choose to have repayment deferred while the student for whom the parent borrowed is enrolled at least half-time and for an additional six months after that student is no longer enrolled at least half-time.
State Aid
- Taylor Opportunity for Students (TOPS)
- BESE Tuition Program for Teachers
- Chafee Education Training Voucher
- MJ Foster Promise Program
- STEP
- Other Scholarships
BPCC Institutional Aid
Internal Tuition Discounts and Waivers are awarded in accordance with the Louisiana Postsecondary Education Tuition and Fee Policy, Tuition Discounts and Waivers, adopted by the Board of Regents. LCTCS colleges are authorized to charge lower rates to students recruited for special talents, including academic, performing arts, and athletic abilities subject to the guidelines set forth below.
Because BPCC Internal Waivers are not supported by third party funding, there is not monetary value. Therefore, individuals receiving internal waivers will be credited with the allowed actual tuition charge. Actual tuition charge does not include books, mandatory enrollment fees, technology fees, course fees, academic excellence fee, operational fee, or any other expenses.
Students of BPCC may participate in the following scholarship and tuition assistance programs:
- BPCC Foundation Scholarships
- Disability Services Student Success Team
- SkillsUSA® Talent Scholarships
- Ms. BPCC
- Tuition Waivers
- BPCC Teacher Institute
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A person who is a full-time Louisiana classroom teacher teaching on a temporary Louisiana teaching certificate in Louisiana in a public or private school, and who is working on permanent certification, may participate in the Teacher Institute. A teacher may take up to two 3-hour courses for $100 each ($200 maximum). Teachers must provide a copy of their T-Certificate and a letter from the school principal where they teach certifying that the course(s) they are taking at BPCC apply toward permanent certification. A new letter is required each semester! For more details, contact Holly French-Hart, Provost/Vice Chancellor for Academic Affairs and Institutional Effectiveness, at 318-678-6132. (The program does not include paraprofessionals or teacher aides.)
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Other Scholarships
- ASIST Scholarship
- Validis Resources Scholarship
- Community Foundation of North Louisiana
- Horatio Alger Scholarship
- Vocational Rehabilitation Grants
Scholarship Applications and Criteria
Scholarship applications are reviewed, and eligibility is determined by various departments on Campus. Should you apply and are accepted, the appropriate department will notify you. Students chosen to receive the scholarship will have their award amount posted to LoLA by the Business Office approximately two weeks after the semester start date. Follow the steps below to check the amount, if any, posted to your account.
- Sign into LOLA
- Select “Student” under Self Service
- Select “Account Summary” under My Account
The Federal Pell Grant is considered gift-aid that does not have to be repaid. The Pell Grant award is based upon the student’s EFC Student Aid Index (SAI) and enrollment status.
- A Pell-eligible Student Aid Index (SAI);
- All information used in the calculation of the SAI complete and accurate at the time the application was signed;
- Accurate information, subject to updating, at the time the SAR/ISIR (not selected for verification) is submitted to BPCC; and
- Accurate information as of the time of verification; at the time the SAR/ISIR (selected for verification) is submitted to BPCC.
Maximum Pell Award
Eligibility for Pell grants has been restricted to 12 semesters of full-time enrollment, or the equivalent for part-time students. If you have been a full-time student and have received Pell grants for 12 semesters, you cannot receive another Pell grant. Pell eligibility is pro-rated for part-time attendance. This affects current and future students. More information about Pell Grant Lifetime Eligibility Used
Pell Awards
The amount of the Pell Grant that a student is eligible to receive is dependent on several factors, which include: the Student Aid Index (SA) from the FAFSA, the student’s enrollment status (full-time, ¾-time, ½-time, less than ½ -time), and whether the student attends for a full academic year or less.
NEW! Year Round Pell Awards
Summer Pell Grant Information
The Department of Education has announced that students that are eligible for Pell Grant may be able to receive a third disbursement of Pell Grant each academic year. Bossier Parish Community College will implement “Year Round Pell Grant” beginning in the summer of 2018. Students must be eligible for Pell Grant as determined by the Department of Education, and must be enrolled at least half-time (6 hours) for the summer semester.
Here is an example of how Year Round Pell Grant will work:
A student with a zero Expected Family Contribution (EFC) is eligible for $6,095 in Pell Grant for the year, or $3,048 for the fall semester and $3,047 for spring semester (based on full-time enrollment both semesters). Under the old rules, that student would not receive any Pell Grant if they enrolled for the summer semester. Under the New Year Round Pell Grant initiative, that student would receive an additional $3,048 disbursement if they were to enroll full-time (12 credit hours) for summer or up to a maximum of $9,143 for the entire academic year. If the student enrolled half-time, he or she would receive $1,524 of Pell Grant for summer, or one-half of a full disbursement.
The Federal Supplemental Educational Opportunity Grant (SEOG) program is for undergraduates with exceptional financial need. Pell Grant recipients with the lowest EFC will be considered first for an SEOG. Just like the federal Pell Grant, the SEOG does not have to be repaid. Funds for this program are limited.
The Federal SEOG is awarded on a first-come, first-served basis depending on your financial need. The average BPCC SEOG award is $450 per semester. Priority is given to students who are eligible for the Federal Pell Grant and who have submitted the FAFSA prior to June 1.
To apply for a Federal SEOG you must complete the Free Application for Federal Student Aid (FAFSA) annually. Eligibility for the Federal SEOG is based upon your Expected Family Contribution (EFC) determined from the FAFSA. Apply online at www.fafsa.ed.gov.
The Iraq and Afghanistan Service Grant (IASG) is awarded to students whose parent or guardian died as result of U.S. military service in Iraq or Afghanistan after September 11, 2001. Students must have been younger than 24 years old or have been enrolled in college at the time of the parent or guardian’s death to qualify. Students must complete the FAFSA to apply for this grant.
The purpose of this program is to provide a need-based component to the state’s financial aid plan to support nontraditional students (age 25 and older) and low to moderate-income students who need additional aid to afford the cost of attending college. Funding is limited.
To be eligible for Louisiana GO Grant, a student must:
- Be a Louisiana Resident
- File a 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 at least six credit hours
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Award Amounts |
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| Enrollment Status | Annual Award Amount | Award Amount (per semester) |
| Full-time (12 credit hours) | $1,500 | $750 |
| Part-time (9 to 11 credit hours) | $1,500 | $750 |
| Half-time (6 to 8 credit hours) | $1,500 | $750 |
| Less than half-time (5 credit hours or less) | Ineligible | Ineligible |
PLUS loans are federal loans that parents of dependent undergraduate students can use to help pay education expenses. Parents can apply for a PLUS Loan if their dependent undergraduate student is enrolled at least half time in an eligible program at an eligible school. BPCC participates in the Direct Loan Program which offers PLUS loans.
How do my parents get a loan?
To apply for a Direct PLUS Loan, your parent must complete a PLUS Loan application for undergraduate students. The Department of Education will notify the school electronically if your parent is approved or denied the PLUS loan. If your parent is approved, the school will add PLUS loan eligibility to the student’s account.
If your parent has an adverse credit history, he/she may still receive a Direct PLUS Loan by obtaining an endorser who does not have an adverse credit history or documenting to the U.S. Department of Education’s satisfaction extenuating circumstances relating to your adverse credit history. If you are a parent borrower, the endorser cannot be the child on whose behalf you are borrowing.
You and your parents must also meet other general eligibility requirements for federal student financial aid.
How much can my parents borrow?
The yearly limit on a PLUS Loan is equal to your cost of attendance minus any other financial aid you receive. If your cost of attendance is $6,000, for example, and you receive $4,000 in other financial aid, your parents can borrow up to $2,000.
How will I receive my loan?
The school will first apply Direct PLUS Loan funds to the school account to pay for tuition, fees, room and board, and other school charges. If any loan funds remain, your school will give them to you to help pay other education expenses.
In most cases, the loan will be disbursed in at least two installments, and no installment will be greater than half the loan amount. The school will first apply Direct PLUS Loan funds to the school account to pay for tuition, fees, room and board, and other school charges. If any loan funds remain, your parents will receive the amount via check, unless they authorize the amount to be released to you or to be put into your school account. Any remaining loan funds must be used for your education expenses.
For More Information about PLUS Loans, click here.
Federal Work-Study is a need-based financial aid program that allows you to work part-time to help pay for college. A Federal Work-Study job is different from other jobs for the following two reasons: (1) the hours are flexible to ensure that you have enough time to study, and (2) when you apply for financial aid the following year, the money you earned through this program isn’t used to determine your financial need.
Qualifications
- Must have a current year FAFSA on file.
- All Financial Aid requirements must be complete upon submission of an application.
- Must have a financial need.
- Must be enrolled in a minimum of six (6) hours
- Students with defaulted loans will not qualify for Federal Work-Study.
- Must meet the Satisfactory Academic Progress requirements.
Important Facts
- FWS is awarded on first come first serve basis.
- Funding is limited, so priority consideration will be given to those students who complete all required paperwork/applications in a timely manner. Every student who applies for Federal Work-Study will not be awarded FWS.
- Completing an application does not guarantee a job placement.
Responsibilities of Student
- Report to work promptly.
- Notify your supervisor as soon as possible if you will be late or unable to work.
- Do not conduct personal business on the job.
- Dress appropriately for your work location.
- Report accurate hours to your supervisor and sign timesheets on time. Timesheets are to be submitted to the Human Resources office by your supervisor.
- Students are NOT ALLOWED to work during scheduled class times.
- Review the Student Worker Guide
How to Apply
- Complete the current year FAFSA
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Complete the Student Worker Job Application online and email your completed form to Kathy Busch at kbusch@bpcc.edu or you may complete an application with the Career Services Office, Building F, Room 246, and Room 101 on the Natchitoches Campus.
What Happens Next
- Supervisors who are seeking FWS workers will access the job applications from Career Services. However, if you have an interest to work in a particular area/department you may go to that department to inquire about available FWS positions within that department. Available positions are listed on the Career Services webpage.
- Once you are selected for a position, the Financial Aid Office will list the amount you can earn on your financial aid awards section on LoLA. You will also receive an Award Notification email stating your awards on LOLA have changed.
- Once you begin working, you’ll receive a bi-weekly paycheck for the hours you work. If you don’t work enough hours, you may not earn all of the funds you have been awarded via LoLA. The money you earn through the Federal Work-Study program is paid directly to you. It is up to you to use this money wisely.
How Will I be Paid?
FWS students are paid $8.00 per hour and may be able to work up to 20 hours per week. However, there are several Community Service positions that pay $12.00 per hour. If you are interested in helping (tutoring) elementary school children with reading and/or math homework you should inform the Career Services Office when you complete the FWS job application.
Types of FWS Employment
Students that choose to participate in the FWS Program may select one of several employment areas in which to earn their award amount. These areas include employment on campus or employment at an approved community agency. Students may select Career Services from the list of campus job openings available in the Career Services Office or that are posted on the Career Services page.
On Campus: Students interested in working on campus may select a Career Services with one of our participating departments. Available job opportunities include office and clerical support, student services, campus security, and tutoring. On campus employment serves as a great opportunity to get involved with the campus community while gaining work experience at a close and convenient location. Students who participate in the FWS program and work in a position on campus are allowed to work 20 hours per week and are paid $8.00 per hour.
Community Service: Students interested in this option may select a Career Services off campus in an approved local non-profit community service organization. Students who participate in the FWS program and work in a community service position off campus are allowed to work 20 hours per week and are paid $12.00 per hour. Students employed in these areas perform direct services to our communities and citizens in need.
Participating agencies include, but are not limited to:
- Salvation army boys and girls club
- Volunteers of america/bossier lighthouse
- Plant-a-seed youth development
- Common ground community, inc.
- Reach out and touch
By choosing to work with these agencies, students have the unique opportunity to make a positive difference in their own community while enjoying a rewarding and challenging work experience. All positions offer a flexible work schedule to accommodate students’ course schedules. Some jobs are available on Saturdays. Students who are interested in a community service job should coordinate their employment with the Career Service office and the Financial Aid office, both in Building F.
Why Should I Consider a FWS Job?
- In addition to the financial benefits, there are other reasons to consider a Federal Work-Study job. Working on campus allows you to meet other students, network with teachers and administrators, and may even give you the opportunity to gain career experience.
- Money earned from a Federal Work-Study job will not be counted as income when you complete the next year’s FAFSA. Explore your options and find the job that works best for you. However, if you decide that you don’t want to work while you’re in college, let the financial aid office know that you no longer want to participate in the Federal Work-Study program.
Additional information regarding Federal Work-Study is available online via the Federal Work-Study section of studentaid.gov