To be eligible for the federal student aid programs, you cannot owe a refund on any federal grant nor can you be in default on any federal loan for attendance at any institution. Some financial aid is based on the expected receipt of aid from other programs. To receive as much aid as possible, you should apply for the federal Pell Grant Program. More information about the federal programs is given in the 'Student Guide.' The Federal Student Aid Information Center has a toll free number, 1-800-4-FEDAID, [1 (800) 433-3243], 9 a.m. to 5:30 p.m., Monday through Friday, eastern time, for students, parents and educators to inquire about student aid and the application process.
Each applicant for financial aid will be sent a Financial Aid Notice when aid is offered by the Financial Aid Office. Students may accept or decline the offer of aid. Students must apply each year for financial aid.
UAF reserves the right to revise any financial aid award. Modification of awards may be required due to lack of federal or state funding, corrections or changes in the data reported to the university by parents and/or students, receipt of additional awards from non-college sources, unintended error, student changes in credit load, change in residence, or other reasons consistent with university policies and procedures.
|Alaska Student Loan||May 15|
|Federal Pell Grant||Anytime during the school year|
|UAF scholarships||March 1|
To receive financial aid, you must be 'in good standing' (undergraduates must earn a cumulative GPA of 2.0 or higher to be in good standing), you must complete at least 24 semester credits each academic year if attending full time and you cannot receive aid for more than 12 semesters or for enrollment over 195 credtis.
Graduate students must earn a cumulative GPA of 3.0 or higher, and must complete the courses as identified on their Advancement to Candidacy.
Aid will be suspended if you fail to complete the required credits with the minimum GPA or exceed the maximum number of semesters or credit hours. Any student whose aid has been suspended may appeal that decision. A written appeal which states the reasons for the failure to maintain satisfactory progress standards and the steps taken to meet those standards in the future is required. Appeals should be directed to the appeal committee which will determine if the satisfactory progress requirements will be waived. The satisfactory academic progress requirements are subject to change due to changes in federal or state law and institutional policy. A complete description of the satisfactory progress requirements is available at the Financial Aid Office.
Tuition, fees and all other amounts due UAF at the time of disbursement must be paid before the proceeds of your financial aid are released. Disbursement is usually in equal amounts, one-half of total award, at the beginning of each semester. All financial aid checks are released to students at the Business Office in Signers' Hall. Proper identification with photograph must be presented before checks will be released.
Proceeds of any financial aid will be used to pay any outstanding amount due the university on a payment plan, and all other past due amounts, when the financial aid is disbursed to you, regardless of the payment plan due dates.
You should allow at least five days for processing after the financial aid notice is signed and returned before inquiring about your check.
According to the Tax Reform Act of 1986, all scholarships, fellowships and federal financial aid grants are counted as taxable income to the extent these awards, either individually or together, exceed the cost of tuition and related expenses. It is your responsibility to report all such aid on your tax return.
If you totally withdrawal from all your classes, you may be due a refund of university charges. If you are receiving Federal Financial Aid, your refunds will be subject to the following federal guidelines: 100 percent of university charges to be refunded to federal programs if withdrawal takes place on the first day of class, 90 percent of refund the first week of school, 50 percent refund during the second through the fourth week of school, and a 25 percent refund during the fifth through the ninth week of school. If you withdraw after the tenth week of school, federal refund regulations do not apply.
If you are attending UAF for the first time and withdraw from all classes on or before the day you complete 60 percent of the semester (before the eleventh week), your refunds will be based on the proportion of the semester you completed (pro-rated).
If you receive a cash disbursement from financial aid after fees have been paid, repayment of federal financial aid received will be determined; the amount will be determined by the amount disbursed and the length of time you were enrolled.
Any refund or repayment calculation exceeding the amount of refund that would be determined by university policy will be charged to the student.
As a financial aid recipient at UAF, you have the right to:
To receive financial aid at UAF, you must:
For more information on financial aid at UAF, contact: Financial Aid Office, University of Alaska Fairbanks, First Floor Eielson Building, Fairbanks, Alaska 99775, telephone (907) 474-7256.