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. 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.

How much money can I get?
The maximum award for the 2010-2011 ward year is $5,550 ($2,775/semester). How much you get will depend not only on your EFC, but on whether you're a full-time or part-time student, and whether you attend school for the full academic year. Grants adjust according to your enrollment status during the first three weeks of the semester. For more about this, read these FAQs.

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. To receive a Direct Loan, you must be carrying at least six credits.

  • Starting July 1, 2012, interest on all new Direct loans is 6.8%.
  • Direct loans have the same terms and conditions as Federal Stafford Loans. Federal Stafford Loans are no longer available after July 1, 2010.
  • Subsidized Direct Loans are awarded on the basis of financial need.
    The federal government pays interest on the loan until you begin repayment.
    Starting July 1, 2012, Subsidized Direct loans will no longer be offered to graduate students.
  • An Unsubsidized Direct Loan is not awarded on the basis of need. The unsubsidized loan will begin accruing interest as soon as the first disbursement is made and interest will continue to accrue until the loan is paid in full.
  • Direct Loan eligibility is also determined by year in school, dependency status and other factors.
  • 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.
  • Starting July 1, 2009, You will be charged 1.5% in origination and guarantee fees. These fees are deducted from the loan before disbursement.
  • Starting July 1, 2010, You will be charged 0.5% in origination and guarantee fees. These fees are deducted from the loan before disbursement.
  • Starting July 1, 2012, You will be charged 1.0% in origination and guarantee fees. These fees are deducted from the loan before disbursement.

How do I qualify for a Direct Loan?
You must submit a Free Application for Federal Student Aid (FAFSA). Students wishing to receive Direct funds should have marked on the FAFSA that they were interested in student loans. If you did not, contact the Financial Aid Office. You will be notified by email when your loan is ready to accept on USU Access.

*requires half-time enrollment (six credits at USU)

Parent PLUS and Graduate PLUS Loans

What is a 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 carrying at least 6 credits.

  • The interest rate on a PLUS Loan for is 7.9%.
  • Interest is charged on the loan from the date the first disbursement is made until the loan is paid in full.
  • Generally, repayment begins 60 days after the final disbursement.

How do I apply for a PLUS Loan?

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 carrying at least 6 credits.

  • The interest rate on a PLUS Loan for is 7.9%.
  • Interest is charged on the loan from the date the first disbursement is made until the loan is paid in full.
  • Generally, repayment begins 60 days after the final disbursement.
  • Graduate students who wish to apply for a Grad PLUS loan are encouraged to contact their financial aid counselor for additional guidance.

How do I apply for a Graduate PLUS Loan?

  • You must submit a Free Application for Federal Student Aid (FAFSA).
  • 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.
  • 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.
  • Graduate students who qualify must also need to sign a Graduate PLUS Master Promissory Note on Student Loans.gov.
  • If you qualify, USU will be notified within 3-5 business days and send you a notification when the loan has been certified.
  • PLUS loan monies will be disbursed to the school according to federal regulations.

TEACH "Grants"

New since 2008-09. More information about these "grants" 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 satisyfing 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 limited and usually limited to early applicants with significant need. Students must have marked on FAFSA that they were interested in Work-Study. If you are awarded Work-Study you need to:

  • Accept your award on USU Access.
  • Locate the job you would like to apply for on the student employment site.
  • Obtain a blue referral slip from the Student Employment desk (TSC 106) for the appropriate job.
  • Contact the employer by phone or in person to set up an interview.

*requires half-time enrollment

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

Private Education Loans (Alternative Loans)*

If the federal programs are not sufficient to pay for your program, you may also consider a private education 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.