Overview of Financial Aid Programs

Utah State University participates in the following financial aid programs:

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 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?
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 2007-2008 award year is $4,310. How much you get will depend not only on your EFC, but on your cost of attendance, 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 ACG and SMART Grants

New since 2006-07. More information about these grants available here.

Campus-based programs:

Federal Supplemental Educational Opportunity Grants (SEOG)*

What is a Federal Supplemental Educational Opportunity Grant?
A Federal Supplemental Educational Opportunity Grant (SEOG) is for undergraduates with exceptional financial need, that is, students with the lowest EFC's, and gives priority to students who receive Federal Pell Grants. Like Pell Grants, SEOG's do not have to be paid back.

What's the difference between an SEOG 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 an SEOG. Students at each school are paid based on the availability of funds.

How do I apply for an SEOG?
No additional paperwork is required to apply for SEOG. 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 1 increases your chances (assuming it is received complete and correct).

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

LEAP Grants (LEAP)*

What is a LEAP Grant?
This grant was formerly called the SSIG. Like an SEOG, a LEAP grant is for undergraduates with exceptional financial need. LEAP's do not have to be paid back.

How do I apply for an LEAP?
No additional paperwork is required to apply for LEAP. 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 in 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 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. Perkins Loans are made by USU and must be repaid to USU beginning nine months after graduating, leaving school, or dropping below half-time enrollment. If you drop below six credits during the first three weeks of classes, the Perkins Loan you borrowed in that semester will come due immediately. In summer, dropping below six credits before the last day to add in the final session will cause the Perkins Loan to come due immediately.

How do I apply for Perkins?
Perkins funds are limited, and usually limited to early applicants with significant need. Students must have marked on their USU Financial Aid Application that they were interested in student loans. 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

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. USU student-employees are paid once a month (usually on the 10th) as wages are earned.

How do I apply for Work-Study?
Work-Study funds are limited and usually limited to early applicants with significant need. Students must have marked on their USU Financial Aid Applicaiton 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 here.
  • 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 full-time enrollment

Federal Stafford Loans (Subsidized and Unsubsidized)

What is a Federal Stafford Loan?
A Federal Stafford Loan is a low-interest loan for both undergraduate and graduate students with financial need. To receive a Stafford Loan, you must be carrying at least six credits. Interest on Stafford Loans made in 2007-08 is 6.8%. Repayment of Stafford Loans begins 6 months after graduating, leaving school, or dropping below half-time enrollment.

Subsidized Stafford Loans are awarded on the basis of financial need. The federal government pays interest on the loan until you begin repayment. An Unsubsidized Stafford 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.

Stafford Loans at USU are offered by participating banks and credit unions across the country. Utah lenders who sell their loans to the Utah Higher Education Assistance Authority (UHEAA) offer the best borrower benefits in the country.

How do I apply for Stafford Loan?
Students wishing to receive Stafford 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. Depending on your choice of an UHEAA or another lender, continue by following the steps below.

UHEAA Lenders

  • You must accept the loan online on USU Access.
  • Complete loan counseling.
  • Within 2-3 weeks of accepting your award, if you do not already have a valid Master Promissory note on file, you should receive a notice from UHEAA instructing you on how to complete your promissory note online. On the first day of class, or seven to ten working days after returning your promissory note, your funds should be available.
  • Click here more details.

Other Lenders

  • After accepting your award on USU Access, please contact the financial aid office to set up your Stafford loan with the lender of your choice.
  • Complete loan counseling.
  • Sign a promissory note with your lender. You may have to contact your lender directly to sign a promissory note.

On the first day of class, or ten to twenty working days after accepting your loan award and submitting your promissory note, your funds should be available. If you have not signed up for direct deposit, your remainder check will be mailed to the local address listed on USU Access.

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 2007-08 is 8.5%. 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?

  • Apply for finacial aid via the FAFSA.
  • Submit a PLUS application (downloaded here). Even if you are pre-approved for a PLUS loan through your lender, you must complete this form and submit it to our office.

Private Education Loans (Alternative Loans)

If the federal programs are not sufficient to pay for your progam, you may also consider a private eduation loan.

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

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 (excluding Tuition Installment Plan notes). 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, checks are usually available within 3-5 days at the Cashiers Office.

Satisfactory Academic Progress

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.