Fees and Financial Aid
What Does it Take to Remain Eligible?
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 credits.
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 that 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.
How is Payment Made to the Student?
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 Accounting and Business Operations 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 10th 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 11th week), your refunds will be based on the proportion of the semester you completed (prorated).
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.
What are the Rights and Responsibilities of Accepting Financial Aid?
As a financial aid recipient at UAF, you have the right to:
- A. Know what financial programs are available to you.
- B. Know how to apply, how eligibility is determined and what terms and conditions are related to your aid.
- C. Know how the university determines whether you are making satisfactory academic progress toward your degree and what happens if you are not.
- D. Request an explanation of your financial aid package, including what portion is gift and what portion must be repaid and the terms of repayment.
- E. Know the costs of attending UAF and the refund policy for students who withdraw.
To receive financial aid at UAF, you must:
- A. Complete all financial aid forms accurately and file them on time.
- B. Apply every year because financial aid is not automatically extended from year to year.
- C. Provide correct information on all applications and documents submitted.
- D. Read and understand all documents you sign. You should also keep copies of them for your records.
- E. Know the limits and conditions of financial aid programs.
- F. Notify the Financial Aid Office of any change of address, name, marital status, attendance status or receipt of additional awards.
For more information on financial aid at UAF, contact: Financial Aid Office, University of Alaska Fairbanks, first floor Eielson Building, P.O. Box 756360, Fairbanks, Alaska 99775-6360, telephone (907) 474-7256.