OVERVIEW
The Grants for Grads Program is established in recognition that many Louisiana’s residents relocate from Louisiana upon completion of their college careers due to a perceived lack of economic opportunity. Homeownership reflects a commitment to remain in Louisiana and continue the tradition and culture of the state.
ELIGIBILITY
Any Louisiana resident who has received an associate, baccalaureate, masters/postgraduate degree on or after January 1, 2008 and was:
a) Resident of LA at time of high school graduation (public, private, or BESE approved home-school) OR
b) Out-of-state graduate of accredited school whose parent was a Louisiana resident at the time of applicant’s graduation and who resides in Louisiana at the time of registration in the program
REGISTRATION REQUIREMENTS
Applicants must register with LHFA within 60 days of October 1, 2008 (graduates prior to 10/1/08); or within 60 days of graduation (graduates after 10/1/08) by faxing the Application for Grants for Grads to Janelle Dickey at 225/763-8748.
If applicants are married and both spouses are eligible, each applicant should register individually. The applicant must:
a) Provide evidence of Louisiana residency AND certified transcript or diploma for their high school and college graduation
b) Intend to live and work in Louisiana at a minimum 5 years
c) Intend to purchase a permanent home in Louisiana
GRANT AWARDS
A grant award will be given to 100 grantees each year based upon a random lottery conducted by LHFA by January 31st each year (no earlier than 2013) if necessary. The lottery pool will include all graduate applicants who filed within the last calendar year.
The amount of the awards will be as follows:
Single individual, the lesser of:
a) The total cumulative LA state individual income tax paid in the past 5 years
b) Ten thousand dollars ($10,000)
Married couple, the lesser of:
a) The total cumulative LA state individual income tax paid by grantee and spouse, filing jointly or separately in past 5 years
b) Fifteen thousand dollars ($15,000)
Additional program guidelines can be found by accessing the link(s) below.
