Current Students

Financial Aid Eligibility in a Nutshell

To be eligible for financial aid, students must be enrolled at least half-time in courses required for a degree program at ULM, and be maintaining satisfactory academic progress (SAP).  Students may begin the financial aid process by completing a current FAFSA at www.fafsa.gov. ULM’s school code is 002020.

Enrollment Requirements for Financial Aid

To be eligible for financial aid, students must be enrolled at least half-time during the semester aid is requested. Half-time is defined as 6+ credits for undergraduate students, and 5+ credits for graduate students. Aid is based on the number of credits fulfilling degree requirements in an eligible ULM Degree Program.

(Note: Undergraduate courses taken by graduate students, courses taken for audit, and courses not fulfilling a degree requirement will not be included when calculating financial aid eligibility.)

Financial Aid Disbursements

In general, financial aid will disburse to the student’s account on the Tuesday following the add/drop period for the academic term. Refund checks begin processing the following Friday, and will continue throughout the term.

For students who are enrolled in modular classes (classes that do not span the full-length of the term), the disbursement may be delayed until he/she begins attending subsequent classes that would make a student half-time. For example, a student taking one 3-credit class at the start of the term may not receive his/her financial aid disbursement until after the add/drop period ends for their second 3-credit class later in the term.

30-day delay for first-time borrowers: All students who are in their first term at ULM are federally-required to wait 30 days until any loan funds are disbursed to their account. All other non-loan financial aid funding will disburse on the regular schedule.

ULM Financial Aid in 5 Easy Steps…

1. If you don’t have one already, apply for a FAFSA PIN at www.pin.ed.gov – This is used to sign your FAFSA electronically. Retain your PIN to be used each year. (Note: If you are a dependent student, your parent will need to apply for a PIN to sign the FAFSA as well.)
   
   
2. Complete the FAFSA online at www.fafsa.gov – Information from the FAFSA is used to determine if you are eligible to receive state and federal scholarships, grants, and loans. ULM’s school code is 002020.
   
   
3. Watch your Warhawk email – We will email you when your FAFSA has been received. The email will instruct you to log in to Banner (http://banner.ulm.edu) to see if you have any unsatisfied documents. Complete any items still missing as soon as possible.
   
   
4. Accept your aid on Banner – Once your file is complete and reviewed, we will send another email to let you know your aid has been awarded to you. Log in to Banner and accept (or decline) your aid.
   
   
5. Complete the loan process – If you accept any loans, you will need to complete the loan entrance interview and MPN online at www.studentloans.gov. Once we receive notification it has been completed (this usually takes 3-4 days), we will notify Student Accounts that your aid is ready to go.