Financial Aid

What is Financial Aid

Most students will need financial aid to help pay for the cost of attending college. Financial aid in the form of scholarships, grants, loans and employment is available at the University of Alaska Fairbanks to eligible students who need assistance to attend school.

Financial aid can be used to help pay for tuition, fees, books, supplies and living expenses such as room and board.

The financial aid office provides counseling and information services to students and parents and administers a comprehensive program of financial assistance. Specific information regarding financial aid programs at UAF can be found online at www.uaf.edu/finaid/. The financial aid office is located in 101 Eielson. We can be reached by phone at 907-474-7256, toll-free at 888-474-7256, or via email at financialaid@uaf.edu.

Who Receives Financial Aid

To receive financial aid you must:

  1. Be admitted to a financial aid-eligible certificate or degree program at UAF;
  2. Be a U.S. citizen or eligible non-citizen (F-1 and J-1 students are not eligible for state or federal financial aid, but may apply for University of Alaska Foundation or UAF privately funded scholarships, and graduate fellowships or assistantships.);
  3. Be registered with Selective Service if you are a male 18 or more years old;
  4. Have a valid social security number;
  5. Be making satisfactory academic progress as defined by the financial aid office policy (policies and forms can be found online at www.uaf.edu/finaid/);
  6. Not be in default on any federal education loan and not owe a refund because of overpayment of a previous federal grant or loan at any college or university;
  7. Receive passing scores on the ACCUPLACER, ASSET or COMPASS tests if you don't have a high school diploma or equivalent and weren't home schooled. Passing ACCUPLACER scores are: arithmetic: 34 or higher; reading comprehension: 55 or higher; sentence skills: 60 or higher. Passing ASSET scores are: numerical skills: 33 or higher; reading skills: 35 or higher; writing skills: 35 or higher. Passing COMPASS scores are: pre-algebra: 25 or higher; reading: 62 or higher; writing skills: 32 or higher. See the table below for ability to benefit policy and cutoff scores.
Ability-to-Benefit
APPROVED
ABILITY-TO-BENEFIT TESTS*
ABILITY-TO-BENEFIT (ATB) APPROVAL
Ability-to-Benefit (ATB) Yes** Ability-to-Benefit (ATB) No
COMPASS
Writing Skills
32+ 0 – 31
COMPASS
Reading Skills
62+ 0 – 61
COMPASS
PreAlgebra
25+ 0 – 24
ACCUPLACER
Sentence Skills
60+ 0 – 59
ACCUPLACER
Reading Comprehension
55+ 0 – 54
ACCUPLACER
Arithmetic
34+ 0 – 33
ASSET
Form B2, C2, D2, E2
Writing Skills
35+ 23 – 34
ASSET
Form B2, C2. D2, E2
Reading Skills
35+ 23 – 34
ASSET
Form B2, C2, D2, E2
Numerical Skills
33+ 23 – 32

* ATB scores correspond to the Department of Education ability-to-benefit test cutoff score. These are important requirements for federal financial aid for students who do not have a high school diploma or GED. Please contact UAF Financial Aid at 907-474-7256, financialaid@uaf.edu or visit www.uaf.edu/finaid/ for more information.

** All applicants must meet or exceed the minimum scores in each of the three approved areas (reading, English and math) in a single testing experience

How to Apply for Financial Aid

The forms needed to apply for federal, state and UAF financial aid programs are available at the UAF Financial Aid Office or on our website www.uaf.edu/finaid/.

All students must complete the Free Application for Federal Student Aid (FAFSA) to be considered for grants, scholarships, tuition waivers, loans and work study.

FAFSA forms may be completed online at www.fafsa.ed.gov. The earliest date students may begin completing the form is Jan. 1.

The priority application deadline for UAF is Feb. 15. If you miss the deadline, you may still apply for financial aid, but you might not be eligible for institutional scholarships or some state/federal grants.

Remember to apply for a PIN (Personal Identification Number) at www.pin.ed.gov, which you will use to electronically access and sign your FAFSA. Parents of dependent students will also need a PIN.

Costs of Attending UAF

The information in the table below for a typical full-time undergraduate student for the school year is provided to help students estimate the total cost of attending UAF:

Estimated UAF living expenses
Single student living alone off campus Single student living in UAF residence hall
Tuition and fees* $5,570 $5,570
Books, supplies $1,400 $1,400
Room and board** $10,250 $6,960
Transportation $2,000 $ 400
Misc./personal $2,250 $2,250
TOTAL $21,740 $16,580

* Estimate includes Alaska resident tuition costs for freshmen/sophomores. Includes Wood Center student life, student government, technology, transportation, UA network, athletics, Student Recreation Center and health center fees. Does not include health insurance, parking, sustainability, travel or special costs associated with international or exchange students. Add $11,640 for non-resident tuition. Costs are subject to change.

** Double room and 19 meals per week

Standard budgets do not always fit everyone. The financial aid office will try to provide methods of covering unusual expenses such as medical bills, special child care or emergency items. Since eligibility is based on prior year income, you may request a review of your eligibility if your income changes from loss of job, divorce, death or disability.

How Eligibility is Determined

Within two to four weeks after the FAFSA is filed, the financial aid office will receive a student aid report from the U.S. Department of Education. The information on this form is used to determine a student's eligibility for financial aid at UAF.

Once our office has received this report, students will receive an email from our office either requesting more information (such as copies of income tax forms, proof of citizenship, etc.) or an award notice detailing your eligibility for financial aid. This information is also available via UAOnline at http://uaonline.alaska.edu. Students should respond to requests for more information promptly in order to avoid delays.

The total amount of financial aid awarded will be based on the FAFSA results and the student's cost of attendance.

Scholarships, Grants and Tuition Waivers

Grants are usually based on financial need, whereas scholarship awards are based on academic achievement as well as financial need. These types of aid do not have to be repaid. Most grants and scholarships are designed for undergraduate students.

Note: Students attending any campus of the University of Alaska system under the Western Undergraduate Exchange (WUE) program are assumed to be receiving the benefit of reduced tuition because of their residency in a partner state. Therefore, time spent in WUE does not count toward the time required to establish residency in Alaska for tuition purposes. If students end their participation in WUE, they could begin establishing residency for tuition purposes as set forth in the resident and non-resident tuition policy.

Graduate Assistantships

You must be admitted to a graduate program to receive an assistantship. Research and teaching assistantships are awarded to qualified graduate students by each department or program. For application information, contact the department or program directly. For more information, see How to Earn a Graduate Degree.

Fellowships are available through the University of Alaska Foundation, the Graduate School and private organizations. A limited number of these awards are granted each year, and the amounts vary. For information, contact the UA Foundation, 907-474-7687 or the Graduate School, 907-474-7464, or visit online at www.uaf.edu/gradsch/.

Loans

Loans represent a major source of assistance as you try to meet the full costs of your education. Educational loans generally have long-term repayment schedules and offer low interest rates. They often have provisions for deferring payments and may offer more benefits related to financial need.

Any student who borrows money for college should understand the specific conditions and requirements regarding disbursements, deferments and repayment options. Students who fail to meet the conditions of the satisfactory academic progress policy may be denied all federal aid.

UAF participates in the Federal Student Loan Program. The Federal Stafford Loan provides loans from a lender such as a bank through a guarantee agency and UAF. The program offers subsidized and unsubsidized loans. Subsidized loans are for students who have financial need; the government makes interest payments on the loan while the student is in school, in grace period or in deferment. Unsubsidized loans are those for which the student is responsible for interest payments even while in school.

The table below outlines estimated monthly payments over a 10-year repayment period. Loan repayment calculations are available at www.finaid.org.

student loan repayment schedule
Total Loan Monthly Payments 8.25 Percent Interest Total Repayment
$ 5,000 $ 61 $2,359 $ 7,359
$10,000 $123 $4,718 $14,718
$15,000 $184 $7,098 $23,078
$20,000 $233 $8,965 $28,965
$25,000 $307 $11,796 $36,796

Students must be enrolled in at least 6 credits to qualify for a state or federal loan. Yearly limits for dependent students are $3,500 for first-year students, $4,500 for second-year students and $5,500 for upper-level undergraduates. Independent students may borrow, including the subsidized federal loan, up to $7,500 as first-year students, $8,500 as second-year students and $10,500 as third- or fourth-year students. Graduate students may borrow $20,500, of which $8,500 can be a subsidized loan. The interest rate varies annually and is capped at 8.25 percent.

The Federal Parent Loan for Undergraduate Students (PLUS) is a program for parents of dependent students. The cost of attending UAF determines the annual loan limits. A variable interest rate or finance charge, not to exceed 9 percent, is determined each year for the federal PLUS programs.

The Alaska Commission on Postsecondary Education (ACPE) offers both federal and state loan programs. These loans are available to all students attending UAF. Through its federal component, AlaskAdvantage offers Stafford (subsidized and unsubsidized) and PLUS loans. State loans include the Alaska Supplemental Education Loan (ASEL), the Family Education Loan, the Teacher Scholarship Loan, and the Winn Brindle Scholarship Loan.

Students seeking an Alaska Supplemental Education Loan (ASEL) must apply using the Free Application for Federal Student Aid (FAFSA) and the ASEL Master Promissory Note.

The ASEL loan can be used as a supplement to any other aid, provided the total amount of aid does not exceed a student's calculated cost of attendance. ASEL approval also requires a student to have good credit. Undergraduates may borrow up to $8,500, and graduate students up to $9,500. Repayment begins no later than six months after the borrower stops attending school at least half time. The interest rate is variable and is made public every July. Interest is charged from the day of disbursement.

The Alaska Family Education Loan Program allows the student's family to share the cost of the student's education. A family member can borrow up to $8,500 for an undergraduate and up to $9,500 for a graduate student. The interest rate is 5 percent and the borrower begins repayment within 60 days of the final disbursement.

The Teacher Scholarship and Winn Brindle Scholarship loans can be used only for specific fields of study. For information on these two programs, please contact the Alaska Commission on Postsecondary Education (ACPE), 3030 Vintage Boulevard, Juneau, Alaska 99801, telephone 800-441-2962, or visit online at www.state.ak.us/acpe/.

Applicants must apply each year and applications are available for all Alaska loan programs via the ACPE website or through their offices. UAF receives ACPE loan disbursements via electronic funds transfer (EFT). Loans are processed within 7-10 days from time of receipt at ACPE offices in Juneau or Anchorage and can be disbursed to a student's UAF account within two days of receipt by the financial aid office.

Advance of funding (previously known as a textbook loan) may be available to students with enough certified financial aid available to cover all semester expenses and the requested advance of funding. Financial aid must be verified and guaranteed before an advance will be issued. In order to obtain an advance of funding, applicants must provide a textbook list, verified financial aid and a completed and signed advance of funding form. A $10 service charge is assessed and due when the advance of funding form is submitted. Applications and more information are available at the UAF Business Office.

Student Employment

Campus jobs help many UAF students pay college costs. Many student positions are available across UAF campuses, as well as the University of Alaska statewide system offices in Fairbanks; more than 1,000 students are employed in these jobs. Full-time student status is not required unless specified by a department. However, students who are less than full time are subject to FICA withholding, and departments that hire part-time student employees are subject to the applicable benefit rate charge.

Student employees may work up to 20 hours each week while classes are in session and up to 40 hours when classes are not in session. Pay rates are based on the job classification. The average pay varies from $300 to $500 each month. Since there is no "pool" for workers, students apply directly to the departments with position vacancies. Job announcements and information on how to apply for positions are available from Career Services, 110 Eielson, 907-474-7596, or from Human Resources, Administrative Services Center, 907-474-7700, or at www.uakjobs.com.

The Federal Work Study program provides jobs for graduate and undergraduate students with financial need. Job placement and working conditions are similar to regular student employment. To qualify for FWS, students must be eligible for federal financial aid as determined based on information provided on the required FAFSA form.

Veterans' Services

The UAF Financial Aid and Veterans' Services Office advises and monitors the educational progress and status of veterans who attend UAF using VA educational benefits. They also assist veterans, service members and eligible dependents with the paperwork needed to begin and continue certification under the various GI Bill benefits. If you qualify and wish to use your benefits, you must be fully admitted to UAF and in a state-approved degree or certificate program. A complete list of benefit programs is available at www.uaf.edu/veterans/benefit_programs/. If you are unsure whether you are entitled to GI Bill benefits, contact the Department of Veteran Affairs in Muskogee, Okla., at 888-442-4551 (1-888 GI BILL 1) or online at www.gibill.va.gov.

Specific questions regarding Vocational Rehabilitation should be directed to the local Veterans' Center, 540 Fourth Avenue, Suite 100, Fairbanks, Alaska 99701, or call 907-456-4238.

Because the Department of Veterans' Affairs processes benefit payments as a reimbursement, you should initiate your VA paperwork 60 - 90 days before your classes start. You can apply for veteran benefits online at https://vabenefits.vba.va.gov/vonapp/main.asp. You can request certification for your UAF VA educational benefits at www.uaf.edu/veterans/apply/, or visit our office at 107 Eielson, call 907-474-6391, toll-free at 888-474-7256 or email financialaid@uaf.edu.

Remaining Eligible for Aid

Students receiving financial aid are required to maintain satisfactory academic progress. Undergraduate students must satisfactorily complete a minimum of 75 percent of total credits attempted each year and have a cumulative grade point average of 2.00 (3.00 for graduate students).

Students may appeal the suspension of aid. Appeals must be in writing and must state the reasons for failure to maintain satisfactory standards of progress, as well as the steps the student will take to meet those standards in the future. Appeals should be directed to the financial aid office, which will determine if the requirements for satisfactory academic progress will be waived. Academic progress requirements are subject to changes in federal or state law and institutional policy. A complete description is available at the financial aid office or at www.uaf.edu/finaid/.

Payment to the Student

Disbursement of financial aid is usually in equal amounts. Students are given one-half of the total award at the beginning of each semester. Tuition, fees and all other amounts due to UAF at the time financial aid is released to the student must be paid before the balance of aid is released to the student.

All financial aid checks as well as checks from outside organizations (such as Native corporations, clubs, etc.) are initially credited to the student's account to pay for any debt owed to the university. Any balance remaining is refunded to the student in accordance with the university's refund policy.

Students who receive federal financial aid and totally withdraw from classes during a semester may have to pay back a portion of the federal financial aid received for that semester. The amount to be repaid is based on the number of class days attended before withdrawal compared to the total days in the semester and amount of federal aid received. If the withdrawing student is entitled to a refund of tuition and fee charges, all or part of the refund may be returned to the federal financial aid programs. The amount of a refund, repayment or return of federal financial aid is based on U.S. Department of Education regulations concerning return of federal financial aid. Any refund or repayment calculation exceeding the amount of refund determined by university policy will be charged to the student. Financial aid recipients are strongly encouraged to confirm the amount of any personal liability before processing a total withdrawal from classes.

Important Financial Aid Dates

Rights and Responsibilities of Accepting Financial Aid

As a financial aid recipient at UAF, you have the right to:

  1. Know what financial programs are available to you.
  2. Know how to apply, how eligibility is determined and what terms and conditions are related to your aid.
  3. Know how the university determines whether you are making satisfactory academic progress toward your degree and what happens if you are not making such progress.
  4. Request an explanation of your financial aid package, including what portion is gift and what portion must be repaid and the terms of repayment.
  5. Know the costs of attending UAF and the refund policy for students who withdraw.

For continued receipt of financial aid you must:

  1. Complete and file all financial aid forms accurately and on time.
  2. Read and understand all documents you sign. You should also keep copies for your records.
  3. Know the limits and conditions of financial aid programs.
  4. Notify the financial aid office of any change of address, name, marital status, attendance status or receipt of additional financial awards.

Where to Get More Information

Office of Financial Aid
University of Alaska Fairbanks
101 Eielson Building
P.O. Box 756360
Fairbanks, AK 99775-6360
Email: financialaid@uaf.edu
Online: www.uaf.edu/finaid/
Telephone: 907-474-7256
Toll-free: 888-474-7256


Catalog contents | Registration guide | Admissions
UAF is an AA/EO employer and educational institution.

Send comments or questions to the UAF Admissions Office.
Last modified September 18, 2012 by Marketing and Communications web developer.