SVM Bulletin - School of Veterinary Medicine - Louisiana State ...

34 School of Veterinary Medicine• Academic year loans (summer/fall/spring or fall/spring loans): First day of spring semester finalexams.It is most important for you to complete thefinancial aid application process early enougheach year so that the amount of aid you havebeen awarded will appear on your fee bill as ananticipated financial credit. Otherwise, you will beresponsible for the payment of your fees whenyou receive your bill. If payment is not received bythe deadline indicated on your bill, your courseswill be purged, and you will be required to pay the$75 late registration service charge. Duplicationof your original course schedule is not guaranteedif courses are purged for nonpayment.Campus-Based Programs• Federal Perkins Loans—Low-interest (5 percent)loans made by LSU and repaid to LSU.Students must show financial need and beenrolled at least half-time. Deferment and cancellationprivileges are available under certaincircumstances. Funds are limited.Federal Family Education LoansStudents borrowing under the Federal FamilyEducation Loans Programs described below arerequired by federal regulation to have an entrancecounseling session before they receive their firstdisbursement at LSU. When a student borrowergraduates, resigns, or otherwise ceases to beenrolled on at least a half-time basis at LSU, he/she is required to attend an exit counseling session.These counseling sessions can be accomplishedat www.nelliemae.com.• Federal Stafford Loans—Based on financialneed, this program enables students to borrowfunds at a special low rate of interest froma participating lender. Payments are deferreduntil six months after the student ceases beingenrolled on at least a half-time basis.• Federal Unsubsidized Stafford Loans— Thisprogram enables students to borrow, regardlessof need. Interest will accrue on this loanwhile the student is enrolled, and may be paidor capitalized as agreed by the borrower andthe lender. The interest rate on the unsubsidizedloan will be the same as on the FederalStafford Loan.• Graduate PLUS Loans—This program is a loanfor graduate and professional students in theirown name. This loan will give these students avaluable federal loan alternative to private loans.Just like parent borrowers, these students willbe able to borrow under the PLUS program upto the cost of education less other aid received.In addition, these borrowers will have to meetthe same credit eligibility requirements thatapply to parent borrowers.Loan disbursements normally occur the weekprior to the start of classes. Depending on theaward package, loans will be disbursed accordingly:1) summer, fall and spring loans will occurin three equal disbursements; 2) fall and springloans will occur in two equal disbursements; and3) semester only loans will disburse in two equaldisbursements with one disbursement at the startof the semester and the second occurring at themidpoint of the semester.Alternative LoansAlternative loans are a credit-based loanprogram that is available to students who havereached their federal loan limit but still need additionalfunding. For more information, visit www.lsu.edu/alternativeloans.Satisfactory Academic Progress forPurposes of Financial Aid EligibilityIn order to receive financial aid, a student mustbe making “satisfactory academic progress.” Forthe purpose of participating in any of the federalstudent aid programs, the LSU Faculty SenateAcademic Standards and Honors Committeehas defined the policy for determining SatisfactoryAcademic Progress for students. For more information,visit www.lsu.edu/sap.Resignations/Unofficial WithdrawalsStudents who receive financial aid funds andthen resign or unofficially withdraw (cease attendance)during the first 60 percent of the enrollmentperiod will be required to repay all or partof the aid they received. The amount of aid thatmust be returned is based on the period of timethe student remained enrolled. Federal aid mustbe returned within 45 days to the appropriate programsin the following order: Unsubsidized FederalStafford Loans, Subsidized Stafford Loans, PerkinsLoans, and Graduate PLUS. The amount ofaid to be returned will be calculated at the time ofresignation. For unofficial withdrawals, the amount