Q.
|
What is student financial aid?
|
A.
|
Student financial aid is money to help students pay for their college expenses. College can be expensive and many families and students cannot afford to pay for tuition and fees, books and supplies, and the living expenses associated with attending college. Federal and state governments, colleges and universities, and organizations attempt to make sure that college is affordable for all students by providing student financial aid to help meet the college costs for students who do not have sufficient resources. The federal government provides 75 percent of all financial aid awarded to students across the country. Nationally, states provide 6 percent of all aid and institutions provide 19 percent. Of all federal financial aid, three-quarters is in the form of student loans.
|
|
Q.
|
What is financial need?
|
A.
|
Financial need is determined according to formulas established by the federal government. Using those formulas, the information supplied on the Free Application for Federal Student Aid (FAFSA) is used to calculate an "expected family contribution," or EFC. This is the amount that students and their families are expected to pay for college costs. This amount is subtracted from the total cost of attending college. The difference is financial need.
|
|
Q.
|
Who should apply for financial aid?
|
A.
|
If a student and his/her family (parents, spouse) need help to pay college expenses, he/she should apply for financial aid. There is no charge for filing an application.
All of the information submitted on the application form is confidential and released only to the financial aid offices at the campuses the student lists on the form.
|
|
Q.
|
Who is eligible for financial aid?
|
A.
|
While eligibility for financial aid varies somewhat between programs, the basic requirements for major student aid programs are as follows:
- Have financial need, except for some scholarship and loan programs
- Have a high school diploma or a General Education Development (GED) certificate, or pass an independently administered test approved by the U.S. Department of Education, or meet other standards your state establishes that are approved by the U.S. Department of Education
- Be enrolled as a regular student working toward a degree or certificate in an eligible program at an eligible institution
- Be a U.S. citizen or eligible noncitizen
- Have a valid Social Security number
- Make satisfactory academic progress
- Sign a statement of educational purpose/certification on refunds and default (found on the Student Aid Report)
- Register with the Selective Service System if you are a male between 18 and 25 years of age
|
|
Q.
|
Does the state of Utah have any financial aid programs?
|
A.
|
Yes, there is the Utah Centennial Opportunity Program for Education (UCOPE) and Leveraging Educational Assistance Partnership (LEAP). UCOPE is a grant program for Utah citizens attending a higher education institution in Utah and is awarded by the schools. LEAP is used to match federal funds and also is awarded by each campus. Students must complete a FAFSA and have a financial need to be eligible to receive UCOPE and LEAP funds. Check with the financial aid office of the school you are interested in attending. Go to Step 1: What is Financial Aid? in the Financial Aid module for more information.
|
|
Q.
|
What other financial aid programs does Utah have?
|
A.
|
There are a number of incentive financial aid programs.
The Terrel H. Bell Teaching Incentive Loan is a program for Utah residents who major in a teacher certification program. Students must attend a Utah college or university and teach a specific number of years in Utah.
The New Century Scholarship Program is for Utah students who complete requirements for an associate degree by September 1 of the year they graduate from high school.
The Centennial Scholarship program is a full or partial tuition college scholarship at a Utah institution. To be eligible for the scholarship students must graduate early from high school and enroll in college within one year of graduating from high school.
Go to Step 1: What is Financial Aid? in the Financial Aid module for more information. Students should also contact their high school counselor to get additional information about these programs.
|
|
Q.
|
What if I have or my family has some unusual circumstances?
|
A.
|
If there are special circumstances or problems, the best thing to do is go to your college financial aid office to talk to a counselor. The financial aid professionals are permitted to consider exceptional conditions when determining your eligibility.
|
|
Q.
|
Are grades or GPA considered in determining eligibility for financial aid?
|
A.
|
While your grades do not play a major role in determining eligibility for financial aid, academic criteria do come into play. First of all, students must meet the institution's admission criteria that sometimes include some consideration of grades or other measures of academic achievement or potential. Financial aid recipients are required to make satisfactory academic progress toward their degree or credential objective. Institutions establish standards of satisfactory academic progress and monitor the progress of aid recipients. Institutional standards include consideration of the number of units for which students enroll and satisfactorily complete each year, as well as the total number of units a student completes over the entire academic program. According to federal regulations, aid recipients must have a C average or a 2.0 GPA at the end of their second year. For institutional and other scholarships based on academic merit, grades are typically a factor in selection of recipients.
|
|
Q.
|
How do I apply for financial aid?
|
A.
|
Any student who wants to apply for financial aid must complete the Free Application for Federal Student Aid (FAFSA). The best and quickest way to do that is to go to "FAFSA on the Web" at www.fafsa.ed.gov.
If you apply electronically on FAFSA on the Web, you will need a PIN to sign your application. If you are a dependent student (your dependency status is determined through a series of questions in FAFSA Step 3), one of your parents will also need a PIN to sign the application. If you (and your parent, if applicable) do not already have a PIN, you should obtain one before you complete your electronic application.
You can obtain a PIN before you begin the application process by applying at www.pin.ed.gov. If you indicate your e-mail address when you apply for a PIN, you will receive an e-mail with a link to a web page where you can obtain your PIN. If you apply without a PIN, but provide your e-mail address, you will receive an e-mail with a link to a web page where you can obtain your PIN. If you do not provide your e-mail address, you will receive your PIN by mail.
You can get a paper copy of the FAFSA from your high school counselor, or from the financial aid office at any college, university, trade, or technical school. Using the paper form is not as quick or as efficient, and is not recommended.
Another step in applying is to be certain you have completed all the forms and submitted all the information required by the financial aid office at the school(s) to which you apply. Make sure you contact them early when you are applying.
|
|
Q.
|
When should I apply for financial aid?
|
A.
|
The FAFSA form for the 2008-09 school year became available in December 2007. The form may be filed after January 1, 2008.
You should check with the college you are interested in attending to get information about possible earlier deadlines and other procedures.
|
|
|
