Federal LEAP funding has been eliminated for the 2011-2012 academic year. State matching funds that would normally have supplemented the Federal LEAP Program have been allocated to schools to be used as need-based aid. This need-based aid program has been named the State Matching Funds Grant.
The Leveraging Educational Assistance Partnership ("LEAP")or Special Leveraging Educational Assistance Partnership Grant Program was the name for what used to be called the State Student Incentive Grant (SSIG) Program. It was funded by federal and state money.
The End of the LEAP Program
Recent Congressional action cut federal funding for this program starting with the 2011-2012 academic year.
Learn more about the debate surrounding federal financial aid program funding and the federal budget process
History and Background
The Higher Education Opportunity Act that was signed into law in August 2008 mandates that we notify all recipients that funding for this program comes from both individual states and the federal government.
As funding is limited, states can set their own eligibility guidelines for disbursing funds within their control.
LOSFA allocated $31,147 to Loyola University New Orleans for the 2010-2011 academic year. In addition, LOSFA allocated $9.690 in Supplemental LEAP funds to the university for the 2010-2011 academic year.
LOSFA allocated $28,416 to Loyola University New Orleans for the 2009-2010 academic year. In addition, LOSFA allocated $8,601 in Supplemental LEAP funds to the university for the 2009-2010 academic year.
LOSFA allocated $26,478 to Loyola University New Orleans for the 2008-2009 academic year. In addition, LOSFA allocated $7,380 in Supplemental LEAP funds to the university for the 2008-2009 academic year.
LOSFA allocated $27,949 to Loyola University New Orleans for the 2007-2008 academic year. In addition, LOSFA allocated $7,195 in special Supplemental LEAP Funds to the university for the 2007-2008 year.
- On May 20,2008, we received an additional $1,805 under the LEAP Program and $1,406 under the SLEAP Program for 2007-2008 disbursements.
LOSFA allocated $31,188 to Loyola University New Orleans for the 2006-2007 academic year. LOSFA allocated $31,635 to Loyola University New Orleans for the 2004-2005 academic year. LOSFA allocated $31,504 to Loyola University New Orleans for the 2003-2004 academic year. We received $31,840 for the 2002-2003 academic year. During the 2001-2002 academic year, Loyola received $33,127 in LEAP funds.
Approximately 16 students received from $1,000 to $2,000 in grant aid from this source during the 2003-2004 and the 2004-2005 academic years.
The State Office of Student Financial Assistance historically does not release a university's LEAP award allocation until late September. Therefore, LEAP funds are not included in any original aid offers.
Renewing LEAP Awards:
- maintain a minimum semester and cumulative GPA of 2.0
- complete a minimum of 12 credits each semester
- complete the FAFSA each year and continue to demonstrate a "need" for these funds.
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Updated September 29, 2011