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 2008-09 award year is $4,731 ($2,366/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 Academic Competitiveness Grants (AC Grants)

New since 2006-07. More information about these grants available here. These grants expire after 2010-2011.

Federal SMART Grants

New since 2006-07. More information about these grants available here. These grants expire after 2010-2011.

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.

  • 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.
  • Interest on undergraduate subsidized Stafford Loans made in 2009-10 is 5.6%, unsubsidized Stafford is 6.8%.
  • Interest on graduate subsidized and unsubsdized Stafford Loans made in 2009-10 is 6.8%.
  • Stafford Loan eligibility is also determined by year in school, dependency status and other factors.
  • Repayment of Stafford 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 most lenders will begin charging 1.5% in origination and guarantee fees. These fees are deducted from the loan before disbursement.

How do I qualify for a Stafford Loan?
You must submit a Free Application for Federal Student Aid (FAFSA). 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.

*requires half-time enrollment

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 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?

TEACH "Grants"

New since 2008-09. More information about these "grants" available here.

Campus-based programs:

Leveraging Educational Assistance Partnership 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, that is, students with the lowest EFC's, and gives priority to students who receive Federal Pell Grants. Like Pell Grants, LEAP grants do not have to be paid back.

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

How do I apply for an LEAP?
You must submit a Free Application for Federal Student Aid (FAFSA). 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 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?
You must submit a Free Application for Federal Student Aid (FAFSA). 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 increases your chances (assuming it is received complete and correct).

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

Utah Centennial Grant (UCOPE)*

What is a Utah Centennial Grant ?
A Utah Centennial Grant (UCOPE) 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 UCOPE 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 UCOPE. Students at each school are paid based on the availability of funds.

How do I apply for an UCOPE?
You must submit a Free Application for Federal Student Aid (FAFSA). 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 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. USU student-employees are paid once a month (usually on the 10th) as wages are earned.

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 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 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 progam, you may also consider a private eduation 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 (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.

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 Stafford Loans. See full policy.