Office of Financial Aid

General Eligibility Requirements

To receive Financial Aid, you must:
  • be admitted and enrolled in an eligible degree-seeking or eligible certificate program
  • be a U.S. Citizen or eligible non-citizen
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  • have a valid Social Security Number
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  • be registered with the Selective Service (if required)
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  • be in good academic standing and maintain听satisfactory academic progress toward completion of a degree or eligible certificate.
  • not owe a refund on a federal grant or loan (overpayment), be over your aggregate subsidized or unsubsidized limit, be in default on a federal loan, or have pending aid at another institution.
  • demonstrate a financial need, except for some loan programs.
  • submit all required documents from previously attended institutions of higher education.
  • verify that all items on your FAFSA are correct.
  • accept the terms and conditions of educational purpose stating that you will use your financial aid only for those expenses related to attending school and other related requirements.
Determining Financial Need

Financial need is determined by subtracting the family's Student Aid Index (SAI) from the University's Cost of Attendance. Note: The SAI number is determined by filing the Free Application for Federal Student Aid (FAFSA). 听

The amount left over after subtracting the SAI from your cost of attendance (Budget) is considered your听 听 听听 "financial need."

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How your Student Aid Index is Determined

The financial aid office at your college or career school determines how much financial aid you鈥檙e eligible to receive using information from your听听and other school- and student-specific factors.听

The following are used to determine your eligibility: your听听your year in school, your enrollment status, and your听

SAI Formula for a Dependent Student:
Parents鈥� Contribution from Income + Parents鈥� Contribution from Assets + Student鈥檚 Contribution from Income + Student鈥檚 Contribution from Assets

SAI Formula for an Independent Student:
Student鈥檚 Contribution from Income + Student鈥檚 Contribution from Assets + Student Spouse鈥檚 Contribution from Income (if married) + Student Spouse鈥檚 Contribution from Assets (if married)

To determine your eligibility for Pell Grants and other need-based aid (aid awarded based on income levels), schools use your SAI, how much other assistance you鈥檝e been awarded so far, and overall cost of attendance to calculate the level of financial support you may require from need-based aid.

Formula: Cost of Attendance (COA) 鈥� Student Aid Index (SAI) = Financial Need

Example: $16,000 (COA) - 12000 (SAI) = Eligibility for up to $4,000 in need-based aid

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Other Resources

You may be receiving other forms of assistance for your educational costs, such as scholarships, Veteran's Benefits, Vocational Rehabilitation, Graduate Assistantships, etc. It is very important for you to notify the Financial Aid Office if you anticipate receiving these types of awards. Failure to do so may cause you to owe a refund of your received financial aid.

Disbursing Financial Aid

Most available financial assistance (including student loans) is disbursed at the beginning of each term. If you owe a balance to The University, your financial aid will be credited toward that balance. You will receive a "refund" only if you have funds available in excess of your balance due.

You cannot expect to have a refund available on this first refund date if you were late in submitting all required documentation necessary to process and disburse your funds. This includes completing your Master Promissory Note and Entrance Counseling Session on-line at Any student not registered and attending at least 6 hours (undergraduate students) or 5 graduate level hours (graduate students) before Late Registration should not expect a loan refund on the first published refund date. Any loan funds guaranteed for you will be held at the guaranty agency until your half-time (or greater) enrollment status has been verified.听

Please Note:

Financial aid awards are tentative awards and are not finalized until enrollment and residency are confirmed. Any changes in enrollment or residency status should be reported to the Financial Aid Office immediately so that any necessary adjustments may be made.

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Financial Aid for Certificate Programs听

Post-baccalaureate undergraduate certificate programs are offered to students who have already obtained their bachelor鈥檚 degree. Students who enroll in a post-baccalaureate certificate program should be aware that they will have restricted financial aid eligibility which will only cover courses that are required by the certificate. No course substitutions, transfer work, or pre-requisite courses are covered by financial aid. To be eligible for federal loans students must be enrolled in at least 6 credit hours of undergraduate courses of the certificate-required coursework.听Optional courses that students elect to take for professional recognition, advancement, to raise GPA, or that the University of Louisiana at Monroe recommends, do not qualify for financial aid.

Students that are eligible to receive financial aid will be awarded loans as fifth year undergraduates and are bound by the undergraduate loan limits. Awards must also stay within a student鈥檚 cost of attendance. No student will be eligible for Pell grant because all students enrolled in the certificate program will already have received an undergraduate degree. Post-baccalaureate certificates must also meet satisfactory academic progress (SAP) requirements and are held to the federal repeater course policy. As certificate programs require less hours than traditional degree programs, students should be careful to plan their enrollment with their financial needs.

Post-Baccalaureate Certificate Programs Eligible for Financial Aid and Disclosure Information:

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