BATON ROUGE, LA (WAFB) - The director of the Louisiana Office of Student Financial Assistance announced Friday the agency will partially resume TOPS payments next week. This announcement comes a day after the state's financial aid office placed an immediate suspension on the payments.
Director Sujuan Boutte says LOSFA will resume payments for 80 percent of the TOPS awards and the remaining 20 percent will be the responsibility of the college campuses.
According to Governor John Bel Edwards, only 25 percent of TOPS will be funded, unless the legislature acts to change that. This means fewer TOPS scholarships will be awarded next year.
Gov. Edwards' Statement on TOPS Funding
A news release stated:
On Thursday, Feb. 11, 2016, the Louisiana Office of Student Financial Assistance suspends TOPS payments to post-secondary institutions out of precaution due to the possibility of budget cuts. Following Governor John Bel Edwards address, LOSFA received clarification that the $28 million cut to the TOPS scholarship fund would be absorbed by each individual college or university.
Therefore, LOSFA will resume its regularly weekly TOPS payment processing next week, on Thursday, Feb. 18. The agency will allow post-secondary institutions to continue billing and LOSFA will pay up to its appropriation. The appropriation to LOSFA, for TOPS awards, is sufficient to pay 80 percent. Colleges and universities will absorb 20 percent.
At this point in time, other programs administered by LOSFA will not be affected.
Students should continue to make sure they are meeting TOPS requirements and completing the FAFSA. The impact to TOPS funding for the 2016-2017 academic school year will be determined by the outcome of the upcoming legislative sessions.
Questions regarding how each post-secondary institution plans to address the shortfall should be directed to the respective college or university.