Special financial aid considerations available

The last 18 months have been tough for most of us. For some families, maintaining their job or income was impossible. The Financial Aid Office has authority to review financial aid applications for students and families with these circumstances. As you meet with students during the semester start or anytime during the academic year, please keep this in mind if you have students experiencing financial strains. 

The Free Application for Federal Student Aid is the application for federal grants, federal low-interest student loans, state grants and scholarships and university funding. We encourage all students to complete the FAFSA every year to see what aid they may be eligible to receive. 

The application for 2021-2022 required families to report their income earned on their 2019 taxes, but that information may no longer apply to a student’s situation. With businesses permanently or temporarily closed during the pandemic, families may have had reduced income in 2020 or 2021. 

Students can request that a financial aid officer review their eligibility for aid based on their new circumstances. We can adjust the application to more accurately reflect a family’s ability to contribute finances for college. 

To request a review, a student needs to:

  1.       Complete and submit the Request to Review Special Circumstances form
  2.       Attach a personal statement explaining the change in circumstances
  3.       Provide documentation as to the situation. Acceptable documentation can include:
    1.       2020 signed 1040 tax form
    2.       2020 W2s for all employment
    3.       2021 latest pay stub with year-to-date income information for all employment
    4.       Unemployment compensation statements
    5.       Notice of termination, layoff or reduction in pay or hours
    6.       Divorce decree or death certificate in the instance of the loss of income due to divorce or death

The processing time for completed packets is usually around five business days to adjust the FAFSA and wait for federal processing. 

If a student has already made payment arrangements prior to the Sept. 3 deadline, a refund or payment plan adjustment will be made if additional aid becomes available after the review. 

It is not too late for a student to complete the FAFSA or request a review of special circumstances. If you are working with a student who has questions regarding the process, please refer them to the Financial Aid Office. Advisors are available to meet in person or virtually with students. Students can visit us in 107 Eielson Building or contact us at uaf-financialaid@alaska.edu or 474-7256 to talk with an advisor or request an appointment. 

Students in an emergency situation with no other financial options may be eligible for a small emergency scholarship. The emergency scholarship committee reviews every application and offers academic advising, student loan counseling, support services or small scholarships to assist students in need.