Tulane's No Loan Assistance (NOLA)
Full-time freshmen entering fall 2014 and showing parental adjusted gross income (AGI on the 2013 custodial parents' federal tax return) being equal to or less than $75,000 will be reviewed for Tulane's No Loan Assistance (NOLA) if the aid applications (including both the FAFSA and CSS Profile) are submitted to be processed by February 15, 2013. Tulane's NOLA scholarship will be added if gift aid* plus Tulane's Institutional Methodology Expected Family Contribution (IM EFC)** does not total at least the tuition, fee, transportation and (NEW for 2014-15, due to scholarship donor generosity) book components of the student's standard Cost of Attendance (COA), in an amount to make up the difference; however, final determination of eligibility for Tulane's NOLA program will adhere to the same merit threshold established for need-based Tulane Scholarship.
Please note that not all applicants initially placed in the pool of consideration for the award will be eligible to receive Tulane's NOLA scholarship. For example, assets which are included in the calculation of the IM EFC may in turn eliminate eligibility for NOLA, students who have a high level of other gift aid may not qualify, and/or a contribution expected from a non-custodial parent and included in the calculation of the IM EFC may in turn eliminate eligibility for NOLA.
Also, please note that NOLA is awarded based on information on hand and will be reduced by if additional information for the student's financial aid file results in an IM EFC increase, and/or non-NOLA gift aid is increased or is found to be higher than was included in an earlier evaluation, and/or the 2013 federal tax return AGI for custodial parents becomes larger than $75,000.
*Gift aid includes but is not limited to any scholarship received from Tulane or ROTC or other sources, tuition waiver, tuition exchange and/or any discount to full-time tuition or rebate of tuition; however, for purposes of NOLA, Tulane will exclude Louisiana GO Grant and Louisiana TOPS from the gift aid total.
**IM EFC varies according to a myriad of factors (for example, earnings, assets, non-custodial parent contribution, number in family, children in college, state of permanent residence, age of parents, etc.), and therefore families with identical adjusted gross incomes will rarely have identical IM EFC's. The Expected Family Contribution is not an evaluation of current disposable income, but rather reflects an analysis of what the family should have available to contribute towards the students' upcoming annual educational costs.
Recipients of NOLA in prior years will be reviewed for continuation of NOLA eligibility for the 2014-2015 academic year provided the student applies for financial aid on or before April 15, 2013 and the student maintains at least a 2.300 cumulative grade point average as well as full-time undergraduate enrollment. This same criteria will need to be met each subsequent year for NOLA renewal consideration. Exception 1: graduating seniors in a final semester of a program may receive NOLA scholarship funds if enrolled less than full-time, although the NOLA award will be adjusted to reflect actual aid and tuition and fee charges. Exception 2: A student who is otherwise eligible to receive Tulane need-based scholarship, including NOLA, may be awarded a conditional semester of scholarship under limited circumstances; see "Conditional Year" discussion within the Tulane Scholarship section for more details.
Page last modified on December 10, 2013.
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