Paying for College
Paying for college can feel overwhelming, but understanding your financial aid options is an important first step. Whether you are planning for a university, community college, technical college, or workforce training program, there are resources available to help make education after high school more affordable. Learn about scholarships, grants, saving programs, federal aid, and other ways Louisiana students and families can plan for the cost of college.
Understanding Financial Aid
Let’s begin by clarifying the definition of financial aid. Financial aid refers to funds that assist you in covering the costs of education or training following high school, as well as associated educational expenses.
This can include:
- Grants that do not require repayment and are usually need-based.
- Scholarships that you do not repay and may be merit-based or need-based.
- Work-study is a federal program that allows you to earn money while enrolled in classes.
- Loans that are repaid over time, generally with added interest.
- Military & workforce benefits that can cover tuition or training costs.
What is the purpose of financial aid?
Financial aid exists to ensure that cost does not stand in the way of students’ educational opportunities. This is important because education and career training can lead to:
- Higher earning potential
- More career options
- Long-term financial stability
- Stronger communities across Louisiana
Federal and state governments, colleges, employers, and community groups contribute to financial aid initiatives to help both traditional students and adult learners access education and enter the workforce equipped for in-demand careers.
Types of Financial Aid
Paying for college doesn’t have to be overwhelming. Financial aid comes from several sources, and many students qualify for more than one type. Here’s what’s available to you.
START Saving Program
Louisiana’s College Savings Plan
Louisiana’s START Saving Program is a 529 college savings plan that helps families save for future education costs. Funds saved through START can be used at eligible colleges, universities, community colleges, technical schools, and other approved postsecondary institutions.
Families can use START as part of a larger plan to pay for college. Savings from a START account may be combined with other financial aid, including scholarships, grants, TOPS, institutional aid, and private scholarships.
START savings can help pay for qualified education expenses such as:
- Tuition and fees
- Books and supplies
- Certain room and board costs
- Computers and required equipment
- Other eligible education-related expenses
How to Apply for Federal Student Aid
The FAFSA is your key to maximizing your financial aid options, and it’s easier to complete and submit that you may think. While it is not a requirement to complete the FAFSA to graduate or to apply for TOPS, completing the FAFSA is required to access federal student aid and may be required to apply for some scholarship and grant programs for some state aid and institutional aid.
Paying for College Checklist
Use This Checklist to Stay on Track
Planning ahead can make the financial aid process much easier. Use this checklist to make sure you complete each step needed to secure funding for your education.
Before Applying
- ☐ Explore careers and education programs that match your goals
- ☐ Research colleges, training programs, or apprenticeship opportunities
- ☐ Create your FSA ID at studentaid.gov
Financial Aid Application Steps
- ☐ Complete the FAFSA as soon as it becomes available (October 1st)
- ☐ Apply for Louisiana state aid programs such as TOPS if eligible
- ☐ Search and apply for scholarships
- ☐ Check financial aid deadlines for each school
After You Apply
- ☐ Review your FAFSA Submission Summary
- ☐ Monitor your email and school portals for financial aid updates and to complete verification if necessary
- ☐ Compare financial aid offers from each school
- ☐ Accept or decline parts of your financial aid package
Before Classes Begin
- ☐ Confirm tuition payment deadlines
- ☐ Complete loan counseling if borrowing federal loans
- ☐ Set up a payment plan if needed
- ☐ Register for classes and orientation