Financial Aid

Remaining Eligible(REVISED)

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 12 credits each semester if attending full time. 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.

Payment 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 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 amounts due 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 receive federal financial aid and totally withdraw from classes during a semester, you may be responsible for repayment of a portion of the federal financial aid received for that semester. The amount to be repaid is based on the number of class days in attendance before withdraw compared to the total days in the semester and the amount of federal aid received. If you are entitled to a refund of tuition and fees 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 the U.S. Department of Education regulations concerning return of federal financial aid. Any refund or repayment calculation exceeding the amount of the refund that was 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

January

Apply for federal aid with the FAFSA (Free Application for Federal Financial Aid). It is best to apply well before the time you will need financial aid to pay your educational costs.

February

If you're not admitted yet, apply for admission to UAF. Financial aid cannot be processed if you haven't been admitted to a UAF degree or certificate program.

February 15

UAF scholarship application due: This application usually requires two to three weeks to complete, so you should start early to be sure your application is finished on time.

May to August

Submit Alaska Student Loan Application to Juneau or Anchorage or apply online at www.state.ak.us/acpe.

May to July

Submit federal loan applications to UAF Financial Aid Office, processing time is three to four weeks. If sent to UAF in time, loans will be disbursed during fee payment.

August 1

Deadline for admission to UAF for the fall semester. This is an absolute MUST for students; we can't process financial aid for you if you haven't been admitted.

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.
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.

To receive financial aid at UAF, you must:

1. Complete all financial aid forms accurately and file them on time.
2. Apply every year because financial aid is not automatically extended from year to year.
3. Provide correct information on all applications and documents submitted.
4. Read and understand all documents you sign. You should also keep copies of them for your records.
5. Know the limits and conditions of financial aid programs.
6. 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, e-mail fyfinaid@uaf.edu, telephone (907) 474-7256, or web www.uaf.edu/finaid/.