Financial Aid

Financial Aid Programs and Policies


Utah State University participates in the following financial aid programs:

Campus Based Programs:

Other Resources:

Important financial aid policies:


Federal Pell Grants

What is a Federal Pell Grant?

A Federal Pell Grant, unlike a loan, does not have to be repaid with interest after you leave school. Pell Grants are only awarded to eligible undergraduate students who have not earned a bachelor's or professional degree. For many students, Pell Grants provide a foundation of financial aid to which other aid may be added.

How do I qualify?

You must submit a Free Application for Federal Student Aid (FAFSA). To determine if you're eligible, the U.S. Department of Education uses a standard formula, established by Congress, to evaluate the information you report on the Free Application for Federal Student Aid (FAFSA). The formula produces an Expected Family Contribution (EFC) number. This number is used by the Financial Aid Office to award Pell Grants, as well as other types of aid to eligible students.

How much money can I get?

The maximum award for the 2013-14 ward year is $5,645 ($2,283/semester). How much you can receive will depend not only on your EFC, but on whether you're a full-time or part-time student, and how many semesters you attend. Grants increase and decrease based on the number of credits enrolled during the first three weeks of the semester. Grants may also be reduced during the term if you drop or fail classes. Please read these FAQs about how grants adjust during the term.


Federal Direct Loans (Subsidized and Unsubsidized)

What is a Federal Direct Loan?

A Federal Direct Loan is a low-interest loan for both undergraduate and graduate students with financial need. Direct Loan eligibility is determined by year in school, dependency status and other factors. To receive a Direct Loan at Utah State University, you must be enrolled in six or more eligible credits.

Subsidized Direct Loans are awarded to undergraduates based on financial "need." USU determines "need" by subtracting the (FAFSA's) expected family contribution and other financial resources such as grants and scholarships from USU's cost of attendance. If there is still room, a student may also receive a subsidized loan if they are otherwise eligible. The federal government pays interest on subsidized loans while a student is considered by USU to be enrolled at least half time. Interest on subsidized loans accrues during any period the student is not currently attending six or more registered credits at USU.

Unsubsidized Direct Loans are not awarded on the basis of "need" but are limited by cost of attendance minus other aid and other eligibility factors. The unsubsidized loan will begin accruing interest as soon as loan funds are sent to the school and interest will continue to accrue until the loan is paid in full.

How do I qualify for a Direct Loan?

You must submit a Free Application for Federal Student Aid (FAFSA.) FASFA will alert you if there are any loan eligibility problems after you apply. You must also complete any requirements on your financial aid to-do list in USU Access, and be in good standing for federal financial aid funds. You will be notified by email if you are eligible for student loans so that you can accept them on USU Access.

  • Loans require additional steps after you accept them.
  • Repayment of Direct Loans begins six months after graduating, leaving school, or dropping below half-time enrollment.
  • The Department of Education has provided budget and repayment calculators to help with your financial planning.
  • Federal Stafford (FFELP) Loans are no longer available after July 1, 2010. Direct loans have the same terms and conditions as Federal Stafford (FFELP) Loans.
  • Starting July 1, 2013, all Direct loans will have a Fixed Interest Rate based on a federally determined index that will vary from year to year.
  • Direct Loans borrowed one year will have a different Fixed Interest Rate than a loan borrowed in another year.
  • Starting March 1, 2013, applicants will be charged 1.051% in origination and guarantee fees. These fees are deducted from the loan before disbursement. .
  • Loan exit counseling information.

Undergraduate Direct Loans

  • Starting July 1, 2013, variable interest rates for undergraduate Direct subsidized and unsubsidized loan will never exceed 8.25%. Loans borrowed one year will have a different fixed rate than a loan borrowed in another year.
  • July 1, 2013 through June 30, 2014: The Direct subsidized and unsubsidized loan Fixed Interest Rate for undergraduate students will be 3.86%.

Graduate Direct Loans

  • Starting July 1, 2013, variable interest rates for graduate Direct unsubsidized loan will never exceed 9.50%.
  • July 1, 2013 through June 30, 2014: The Direct unsubsidized loan Fixed Interest Rate for graduate students will be 5.41%.
  • After July 1, 2012, federal regulations discontinued the lending of Subsidized Direct loans to graduate borrowers.

Parent Direct PLUS and Graduate Direct PLUS Loans

What is a Direct PLUS Loan?

A PLUS Loan enables parents (with no adverse credit rating) to borrow funds to pay the education expenses of dependent undergraduate children who are enrolled in at least 6 credits.

  • Starting July 1, 2013, all PLUS loans will have a Fixed Interest Rate based on a federally determined index that will vary from year to year.
  • PLUS Loans borrowed one year will have a different Fixed Interest Rate than a loan borrowed in another year.
  • Starting July 1, 2013, variable interest rates for Direct PLUS loans will never exceed 10.50%.
  • July 1, 2013 through June 30, 2014: The Direct PLUS loans Fixed Interest Rate will be 6.41%.
  • Interest is charged on the loan from the date the first disbursement is made until the loan is paid in full.
  • Starting March 1, 2013, applicants will be charged 4.204% in origination and guarantee fees. These fees are deducted from the loan before disbursement.
  • Generally, repayment begins 60 days after the final disbursement. Other payment arrangements can be made with the loan servicer.

How do I apply for a PLUS Loan?

  1. You must submit a Free Application for Federal Student Aid (FAFSA).
  2. The parent must request a PLUS loan on Student Loans.gov. The parent will need to sign in with their own PIN number to apply. They will also need to sign a Master Promissory Note on Student Loans.gov. USU will download the PLUS loan request and send you a notification when the loan has been certified.

Graduate PLUS Loans

What is a Graduate PLUS Loan?

A Graduate PLUS Loan enables graduate students (with no adverse credit rating) to borrow funds beyond Direct loans to pay the education expenses if they are enrolled in at least 6 credits.

  • Starting July 1, 2013, all PLUS loans will have a Fixed Interest Rate based on a federally determined index that will vary from year to year.
  • PLUS Loans borrowed one year will have a different Fixed Interest Rate than a loan borrowed in another year.
  • Starting July 1, 2013, variable interest rates for Direct PLUS loans will never exceed 10.50%.
  • July 1, 2013 through June 30, 2014: The Direct PLUS loans Fixed Interest Rate will be 6.41%.
  • Interest is charged on the loan from the date the first disbursement is made until the loan is paid in full.
  • Starting March 1, 2013, applicants will be charged 4.204% in origination and guarantee fees. These fees are deducted from the loan before disbursement.

How do I apply for a Graduate PLUS Loan?

  1. You must submit a Free Application for Federal Student Aid (FAFSA).
  2. You must request and accept the full amount of your Direct loan eligibility for the school year. This will help determine if you are still eligible for Graduate PLUS loan.
  3. Graduate students must apply for a PLUS loan on Student Loans.gov to pre-qualify for Graduate PLUS. After logging in, go to PLUS loan process, Request Direct PLUS loan, select Graduate PLUS and fill out the online application and submit. You will receive further instructions if you do not qualify.
  4. Graduate students who qualify must also need to sign a Graduate PLUS Master Promissory Note on Student Loans.gov.
  5. If you qualify, USU will be notified within 3-5 business days and send you a notification when the loan has been certified.
  6. PLUS loan monies will be disbursed to the school according to federal regulations.

TEACH "Grants"

New since 2008-09. More information about these discharge-able loans available on the Teach "Grants" page.




Campus-based programs:


Federal Supplemental Grants

What is a federal supplemental grant?

A federal supplemental grant is for undergraduates with exceptional financial need, that is, students with the lowest EFC's who receive Federal Pell Grants. Like Pell Grants,supplemental grants do not have to be paid back.

What's the difference between an supplemental grant and a Federal Pell Grant?

The U.S. Department of Education guarantees that each participating school will receive enough money to pay the Federal Pell Grants of its eligible students. There's no guarantee every eligible student will be able to receive a supplemental grant. Students at each school are paid based on the availability of funds.

How do I apply for an supplemental grant?

You must submit a Free Application for Federal Student Aid (FAFSA). No additional paperwork is required to apply for supplemental grants other than satisfying any requirements on your to-do list. The key to receiving these grants is APPLYING EARLY! Because of the limited nature of these funds, they only go so far. Sending in your FAFSA before February increases your chances (assuming it is received complete and correct).

*This grant adjusts according to your enrollment status. Read these FAQs for more.


Federal Work-Study

What is Federal Work-Study?

The Federal Work-Study (FWS) program provides jobs for undergraduate and graduate students with financial need, allowing them to earn money to help pay education expenses. How much you earn depends on your skills and experience and the number of hours you work (usually a maximum of 20/week). Often Work-Study employment provides the student with the opportunity of working in a field related to their major.

How do I apply for Work-Study?

You must submit a Free Application for Federal Student Aid (FAFSA).Work-study funds are usually limited to early applicants with significant need.  Students must have marked yes on the FASFA that they were interested in work-study.  See the work-study time line posted  on the Career Service website. If you are eligible for work-study and want to apply you will need to:

    • Watch for an email from Career Services at the end of April.  All Eligible students will get an application attached to the email to fill out and send back.
    • Once you are awarded you will need to accept your award on Access (Banner).
    • Locate the job you would like to apply for in Career AGGIE.
    • Submit your resume or application to the employer to apply for the job.
    • If you are hired your employer will print a Work-Study Agreement to sign.
    • Requires enrollment of 6 credit hours.

    Federal Perkins Loans*

    What is a Federal Perkins Loan?

    A Federal Perkins Loan is a low-interest (5%) loan for both undergraduate and graduate students with exceptional financial need. To receive a Perkins Loan, you must be carrying at least six credits.

    How do I apply for Perkins?

    You must submit a Free Application for Federal Student Aid (FAFSA). Perkins funds are limited, and usually limited to early applicants with significant need. Students must have marked on their Financial Aid Application (FAFSA) that they were interested in student loans. Sending in your FAFSA in February increases your chances (assuming it is received complete and correct). Students who are awarded Perkins will be required to complete loan entrance counseling, sign a Perkins Master Promissory Note, and return it to the Cashiers Office.

    *requires half-time enrollment




    Other Resources


    Scholarships*

    What scholarships are available?

    Undergraduates: A complete listing of USU scholarships is available in the USU Undergraduate Catalog. The catalog can be purchased in the bookstore or via Express-A-Book (1-800-662-3950.). Graduates: Many sources of aid for graduate students are listed in the USU Graduate Catalog. The catalog can be purchased in the bookstore or via Express-A-Book (1-800-662-3950).

    How do I apply for Scholarships?

    If you are a freshmen or transfer student interested in scholarship opportunities, please visit the Admissions Office located on the bottom floor of the Taggart Student Center. They can be reached at (435) 797-1129. If you are a sophomore, junior, or senior interested in scholarships, contact your department for information and deadlines. If you are a graduate student interested in scholarships, contact your department for information and deadlines.

    Look at the Non-USU Scholarship Guide for useful info about how to get funding from private sources.

    *requires full-time enrollment


    AmeriCorps

    AmeriCorps tuition payments are now coordinated through the USU Cashiers office located in Taggart Student Center, room 248, Logan Campus, (435) 797-1069.


    Private Education Loans (Alternative Loans)*

    Federal loans may not be enough to cover all of your school-related expenses. After you have applied for all of your federal loan eligibility, you may consider applying for a private education loan (also called an alternative loan).

    *requires half-time enrollment


    Emergency Loans

    What is an Emergency Loan?

    An Emergency Loan is a low-interest, short-term loan available to USU students as a means of temporary financial assistance. This is not a loan to help pay tuition. Only students with fees paid for at least 6 credit hours may apply. Students must also meet a minimum GPA requirement (2.0 for undergraduates, 3.0 for graduates) and have no other outstanding USU debts or payment plans. Students may borrow a maximum of $400.

    How do I apply for an Emergency Loan?

    Stop in at the Financial Aid Office (not before the first day of regular classes) and fill out an application. If approved, funds are usually mailed to your mailing address within 3-5 business days. If you have signed up for direct deposit on Access (Banner) the funds can be deposited within 3-5 business days.




    Important financial aid policies:


    Satisfactory Academic Progress Policy

    To receive aid, you must be making satisfactory academic progress. This includes a satisfactory GPA and completing the required number of credits. Undergraduate aid is limited to students with less than 165 credits. See full policy.


    Repayment of Federal Funds Policy For Students Who Withdraw or Cease Attending

    Students who completely withdraw from the University during the course of a semester are required to return a percentage of their Federal Student Financial Aid. All types of Federal Financial Aid are included in the repayment, including: Pell Grants, Supplemental Grants, Perkins Loans, and Direct Loans. See full policy.