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.
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 $27 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 $255 million throughout repayment!