FAQs about financial aid
Refunds are processed by the Office of the Bursar. You can sign up for direct-deposit on UAOnline for faster processing. Once you see your refund processed on your student bill, the funds will be in your bank account in 3-5 business days.
Financial aid can be used to purchase books, once all of your UAF charges (tuition, fees, housing and meals) are paid in full. You can purchase books out-of-pocket and wait for your reimbursement check or you can request an Advance of Funding (PDF) from the Office of the Bursar.
Loan amounts can change for a variety of reasons. The most common reasons at UAF are:
- Application had incorrect information: The US Department of Education sets yearly loan amounts based on your class standing. As you increase in standing, you are eligible for additional loan funds. We offer you loan amounts based on the degree and level information you provided on the FAFSA. As we process loans you accept, we review your status. If we need to update your status on your FAFSA (example: changing from Junior status to Sophomore status), your loan eligibility may be adjusted.
- We added scholarships to your account: There is a maximum amount of financial aid a student can receive. We award you the maximum amount of student loans you are eligible to receive at any given time. If you are award other financial aid (example: scholarships or graduate TA), we may need to reduce your loan offer. If you have expenses above and beyond the average student and would like to request an increase to the maximum amount of financial aid, please review and submit the Budget Revision Request Form (PDF).
All scholarship checks should be mailed to the financial aid office. Please make sure your name and student ID number are included in the memo field of the check or on an attached award letter. To guarantee that a scholarship gets posted before the deadline to pay fees, checks should be mailed before the start of the semester. Please allow 2 weeks for mail time and 5 business days for processing time.
Financial Aid Office
PO Box 756360
Fairbanks, AK 99775
If you were offered a UAF scholarship, we will add this information as soon as the department contacts our office. Please refer to your award letter for any instructions for acceptance of the award.
If you were awarded a scholarship from outside of UAF, we will post it to your student account when the check arrives. Please allow 5 business days for the processing of a check after we receive it.
Based on your FAFSA application information, the US Department of Education may have selected you for a process called verification. During verification, we may be required to collect the IRS Tax Return Transcript from the tax year of your financial aid application. All students selected for verification will be required to submit a Verification Worksheet. If we are requesting your documents, please submit as soon as possible. The processing time for verifications can be up to 10 business days if we need to make corrections to your FAFSA application. You will need to request your IRS Tax Return Transcript from www.irs.gov. We cannot accept the 1040 form.
The FAFSA required your tax information from two years prior and your marital status as of the day you file. You cannot update this information if it has changed. You can apply for a review by the financial aid office by submitting a Request for Review of Special Circumstances (link to forms section, since form will change every year) form and supporting documents. If approved, our office will make changes to your application and determine an award based on your current financial or marital status.
The US Department of Education requires students to provide parental information on the FAFSA unless they are 24 years of age, married, have dependents, are active duty military or veteran, or meet certain other criteria. The FAFSA will determine your status. If you are unable to provide parental information, please contact the Financial Aid Office to discuss your situation.
Your eligibility for summer financial aid will be determined on an individual basis. After you register in summer courses, please submit a Notice of Summer Enrollment Form (PDF) to have your status reviewed. You can apply for summer session awards at www.uaf.edu/summer. The UA Scholars award can be used in summer by full time students by special request.
The Pell grant is prorated based on your enrollment status. The full award for the semester is only available for full time students enrolled in 12 or more credits.
The US Department of Education requires a 1% origination fee for Federal Direct Loans. This amount is automatically deducted from your loan at the time of disbursement.
Upon receipt of your financial aid applications, we award the maximum amount of federal student loans, grants and scholarships. If you need additional funding beyond the award offer, you may be eligible to apply for a PLUS loan, alternative loans or scholarships from a variety of agencies.