Annual percentage rates (APRs) assume you are enrolled in and maintain auto-debit payments from the date of origination. Enrolling in auto-debit results in a 0.25% interest rate reduction. Without enrolling in auto-debit, the rate will range from 3.19% APR to 6.51% APR. Not all borrowers receive the lowest rate. If you are approved for a loan, the rate offered will depend on your credit profile and the term you select and will be within the ranges shown above assuming the auto-debit interest rate reduction applies
LelaCHOICE provides better supplemental loan options for paying for college
Choose Quality. Choose Community. Choose Lela.
Offering better rates and options for Undergraduates, Graduates and Parents
2.94% – 6.37% APR* Disclosure
Get your rate in minutes with no effect on you credit.
AskLela is the outreach division of Lela which focuses on providing free FAFSA completion assistance and offers free resources on planning and paying for college in Louisiana.
Lela is your nonprofit source for education funding and college access in Louisiana!
Register for a $1,000 FAFSA Completion Scholarship!
Explore refinancing your student loans today with LelaRefiHelp!
Lela has been committed to making higher education more affordable and accessible to the people of Louisiana for over 40 years. We remain committed to providing quality and affordable borrowing programs for our families.
Impact through 2023
470,000 Students
Lela has assisted over 470,000 families across Louisiana since its inception in 1984.
$418,750 in Scholarships
Lela has awarded $418,750 in scholarships to Louisiana high school seniors through various outreach campaigns and random drawings.
282,000 FAFSA Guides
Lela has provided 282,000 FAFSA Completion and College Planning Guides to Louisiana students and offered access to an electronic Planning and Paying for College Guide to Louisiana parents.
About Lela
The Louisiana Education Authority (Lela) is a division of the Louisiana Public Facilities Authority (LPFA), a nonprofit public trust established to bring financing assistance and advantages to the people of Louisiana. As part of a nonprofit public trust, Lela’s mission is to make higher education more accessible and affordable for the people of Louisiana.
How we give back
Together, Lela and LPFA are committed to making Louisiana a better place to live, work and raise our families by furthering education, healthcare, economic development and job creation in the state. Since 1974, the LPFA has issued over $28 billion in bonds to finance over 600 projects which has helped to generate more than 327,110 jobs in Louisiana!
Over the years, Lela has saved students over $23 million by paying upfront fees for students on their federal student loans and through incentives has offered borrowers the potential to save over $250 million throughout repayment!
Lela has saved students over $23 million
Lela’s Mission
500,000+
students helped with college financing
one nonprofit mission
48 YEARS
of experience in student lending
100% Louisiana-based Non profit organization
For FAFSA related questions, call the Lela FAFSA HELPline for assistance:
(844) GO FAFSA or (844) 463-2372
Introducing
Introducing a new and better choice for helping you pay for college! It’s Louisiana’s non-profit, low-cost supplemental loan resource for undergraduates, graduates and parents.
LelaCHOICE Offering better rates & options
Undergraduates–Graduates–Parents
2.94% – 6.37% APR*
(with auto-pay)
View a detailed list of Annual Percentage Rate (APR) examples for all options here.