Yes, loans are considered a type of financial aid!
While borrowing is never encouraged, the uniqueness of the Federal student loan programs provides tools and options for assurance that loan repayment should not be a burden.
Basically, there are two types of educational loans: 1) subsidized, whereby the federal government subsidizes (pays) the interest associated on the loan during periods of eligible deferment (such a while in enrolled at least half-time in a degree seeking program); or 2) unsubsidized, where no interest is being subsidized, meaning that interest is accruing at the time of disbursement for the amount disbursed (unless one is making interest payments).
Please note that Tulane Financial Aid cannot process federal loans once the aid period for which the loans are intended has ended, or after the student has ceased attendance, whichever comes first. This deadline is in effect for federal educational loans for either a student or their parents. The federal deadline for federal educational loan origination is by the end of the award period for the loan, so federal educational loans in virtually every case must have disbursed while the student is still in attendance in the academic period for which the loans are intended.
We strongly recommend that students and/or parents communicate and finalize their borrowing intentions at least one month prior to the end of each semester. Below is more information on the types of educational loans available.
UNDERGRADUATE STUDENT LOANS
For details regarding educational loans available to undergraduate students:
GRADUATE & PROFESSIONAL STUDENT LOANS
For details regarding educational loans available to various graduate and professional students:
For details regarding Department of Health & Human Services loans only available to M.D. degree seeking students at the School of Medicine.
Health Profession Loan Programs
PARENT LOANS
For details regarding educational loans available to parents of dependent undergraduate students:
PIPELINE PROGRAM: ONLY AVAILABLE TO TULANE NURSING PROGRAM STUDENTS
The Louisiana Children’s Medical Center (LCMC Health) offers their Healthcare Profession Pipeline Program at Tulane University. For details on this program, including unique information on receiving disbursements, please review this LCMS Pipeline Program description.
FEDERAL STUDENT LOANS
Federal Direct Loans are generally disbursed at the start of each semester in accordance with prevailing federal regulations. Loans offered for a traditional academic year (consisting of a fall and spring semester), will have half of the total amount disburse at the start of the fall semester and the remaining half disburse at the start of the spring semester. Summer semester loan disbursements occur when a borrower commences enrollment.
A borrower (student or parent) of a Federal Direct Loan has the right to cancel all or part of a Federal Direct Loan or Federal Direct Loan disbursement (whether or not the funds have credited to the student’s Tulane University billing account). The procedure to cancel a Federal Direct Loan or Federal Direct Loan disbursement is to submit a cancellation request in writing, postmarked within sixty days of the disbursement’s crediting date, and mailed to Tulane University Financial Aid Office, Gibson Hall, Suite #130, 6823 St. Charles Avenue, New Orleans , LA 70118; sent via email to finaid@tulane.edu OR faxed to (504) 862-8750. If the amount canceled previously disbursed, then the amount canceled will be charged to the student’s billing account and returned to the U.S. Department of Education.
Please review our special video offerings from renowned Student Loans Debt Management specialist, Dr. Jeffrey Hanson, to learn more about the uniqueness of the current attributes of the Federal Student Loan programs.
