Student Loans for College Kids in Louisiana

Where to Look and What You’ll Find

If you’re a college-bound student in Louisiana or a parent of a student searching for reliable information on student loans, make your state sources one of your first priorities.

The Louisiana Education Loan Authority (LELA) is a one-stop-shop for college financial planning, plus much more. This agency is a guarantor for federal student loans when you apply through LELA. Here’s what you’ll find on the site:

  • Financial aid information
  • Create an account and manage your loans
  • Application for federal LELA loans
  • Information on nursing and teacher loan repayment programs
  • Loan programs that help you manage your debt after graduation
  • Loan calculator

Borrowing Federal Loans through LELA

LELA offers you one of the better deals when it comes to borrowing federal student loans. In LELA’s most recent update you’ll find the agency covers most of the upfront fees including origination and default fees. LELA loans:

  • Stafford Loans are one of the most popular federal student loans. Subsidized Staffords are awarded to students with a certain degree of financial need and unsubsidized are available to almost everyone. You’ll find many students carry a combination of both. Interest rates are low and fixed and LELA pays your fees. These are a no-brainer. Complete the FAFSA to be qualified.
  • PLUS Loans for Graduate and Professional Students give those Louisiana students beyond undergraduate studies the next level of federal aid. These loans may only kick in once you’ve maxxed out your Stafford Loans. Apply with the FAFSA. LELA covers your default fees.
  • PLUS Loans for Parents are credit-based, low-cost alternatives for parents with undergraduate kids to put through college. When all other federal loans and grants are paid out, leverage the Parent PLUS loan to cover the balance remaining on your kid’s education. Better than a home equity line of credit. Borrow through LELA and you won’t have to pay the default fee.

Discover more about federal student loans.

Loans for Louisiana Teachers and Nurses

HELP Teacher Loans and HELP Nurses Loans are unique loan products available via LELA and specially designed for teachers and nurses working in Louisiana. Use these products to help pay down your Stafford student Loan debt. The HELP loans allow eligible teachers and nurses to earn a reduced interest rate. The Nurse loan is open to nurses and nurse educators and the Teacher loan for public school teachers.

For more information on these and other college aid programs for Louisiana residents visit the LELA website.