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19-661 Office of Student Financial Assistance

The mission of the Office of Student Financial Assistance (OSFA) is to manage and administer the federal and state student financial aid programs which are assigned to the Louisiana Student Financial Assistance Commission (LASFAC) and the Louisiana Tuition Trust Authority (LATTA).

The goals of OSFA are:

  1. Maintain regulatory compliance.
  2. Effectively and efficiently administer programs and services.
  3. Offset the costs of state programs.

The purpose of the Office of Student Financial Assistance is to manage authorized federal and state financial aid programs for postsecondary students, including scholarship, grant, tuition savings, and loan programs.

OSFA has three programs: Administration/Support Services Program, Loan Operations Program, and the Scholarship/Grants Division Program.

BUDGET SUMMARY

This agency's recommended appropriation includes $26,948 for short-term, including Lease Purchase agreements.

This agency does not have any long-term debt for Fiscal Year 1999-2000.

This agency's recommended appropriation also includes the following amount by means of financing for payments on the unfunded accrued liability of the Louisiana State Employees' Retirement System in accordance with the provisions of Article X, Section 29 of the Constitution of Louisiana:

State General Fund (Direct)

 

$  56,494

Fees and Self-generated Revenues

 

215

Federal Funds

 

 218,465

 

 

 

Total

 

$275,174


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