Financial Aid

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Financial Aid Programs and Policies


Utah State University participates in the following financial aid programs:


Federal Pell Grants

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.

☛ More Details about Pell Grants

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. Other considerations:

  • Graduate and second bachelor's students are not eligible for Pell grant.
  • Students with international degrees are not eligible for Pell grant.
  • Students with excessive credits may not be eligible for Pell grant.
  • Students who have received the equivalent of 12 or more full-time semesters of Pell grant are not eligible for additional Pell.

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)

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.

☛ More Details about Direct loans

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 MyUSU, 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 MyUSU.

  • 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 December 1, 2013, new loans will be charged 1.072% 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%.
  • July 1, 2014 through June 30, 2015: The Direct subsidized and unsubsidized loan Fixed Interest Rate for undergraduate students will be 4.66%.

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%.
  • July 1, 2014 through June 30, 2015: The Direct unsubsidized loan Fixed Interest Rate for graduate students will be 6.21%.
  • After July 1, 2012, federal regulations discontinued the lending of Subsidized Direct loans to graduate borrowers.


Parent Direct PLUS and Graduate Direct PLUS Loans

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

☛ More details about Parent PLUS loans

  1. 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.
  2. PLUS Loans borrowed one year will have a different Fixed Interest Rate than a loan borrowed in another year.
  3. Starting July 1, 2013, variable interest rates for Direct PLUS loans will never exceed 10.50%.
  4. July 1, 2013 through June 30, 2014: The Direct PLUS loans Fixed Interest Rate will be 6.41%.
  5. July 1, 2014 through June 30, 2015: The Direct PLUS loans Fixed Interest Rate will be 7.21%.
  6. Interest is charged on the loan from the date the first disbursement is made until the loan is paid in full.
  7. Starting December 1, 2013, new loans will be charged 4.288% in origination and guarantee fees. These fees are deducted from the loan before disbursement.
  8. Generally, repayment begins 60 days after the final disbursement. Other payment arrangements can be made with the loan servicer.

How does my parent apply for PLUS loan



Graduate PLUS Loans

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.

☛ More details about Graduate PLUS Loans

  • 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%.
  • July 1, 2014 through June 30, 2015: The Direct PLUS loans Fixed Interest Rate will be 7.21%.
  • 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"

The TEACH grant is forgivable loan with heavy strings attached, and may be useful for certain students in some narrow circumstances. In exchange for TEACH "Grant" aid, students must agree to serve as a full-time teacher at specified schools serving low-income students and teach in a specified field for four academic years within eight years after completing the college course. TEACH “grant” recipients that do not fulfill their teaching obligations must repay the “grant” as if it was an unsubsidized Direct Loan including all accrued interest.


☛ More details about TEACH "Grants"

The TEACH “grant” program provides up to $3,964 a year in “grant” aid to first bachelor and graduate students enrolled in a teacher credential program. Eligible undergraduate and post-baccalaureate students may not receive more than $15,856 and graduate students may receive no more than $7,928 in total TEACH “grants.” Unfortunately, the law does not currently allow grants for USU students working on post-baccalaureate certificate programs, second bachelor degrees, or doctorate programs.

Students enrolled less than full-time will have their TEACH "Grant" reduced according to a schedule established by the Department in regulations. The amount of TEACH "Grant" awarded when combined with other student aid may not exceed a student's cost of attendance (COA).

Student Eligibility Requirements:

  • Undergraduate students (working towards their first bachelor's degree) must have a 3.25 GPA (high school GPA for first year undergrads) OR score in the 75th percentile on at least one admissions test.
  • GPA requirements do not apply graduate students who are currently teachers or who are retiring and have expertise in a subject where there is shortage of teachers (math, science, special ed, English as a second language, or another high-need subject).
  • Graduate students completing a high-quality alternative teacher certification program, like Teach for America, are also eligible for the program.
  • Students must be completing (or planning to complete) the coursework required to become a teacher.

To receive a TEACH "Grant" students must also agree to:

  • Serve as a full-time teacher at a school serving low-income students for at least four years within eight years of completing their course of study
  • Comply with the requirements for being a highly qualified teacher (defined in section 9101 of the Elementary and Secondary Education Act)
  • Teach math, science, a foreign language, bilingual education, special ed, a reading specialist, or a subject designated as "high need" by the federal or state government, or local education agency and approved by the Department
  • Provide certification by the school's chief administrator annually as evidence of required employment

Steps to apply for and receive the TEACH “grant”

  1. Complete financial aid application on www.fafsa.gov
  2. Contact the USU Financial Aid Office to award your TEACH “Grant”
  3. Complete online counseling on www.TEACH-ats.ed.gov
  4. Accept TEACH “grant” award on MyUSU.
  5. Go back to www.TEACH-ats.ed.gov 3-5 days after accepting award
    • Sign a TEACH “grant” Agreement to Serve

TEACH “grant” recipients that do not fulfill their teaching obligations must repay the “grant” as if it was an unsubsidized Direct Loan including all accrued interest.


Campus-based programs:


Federal Supplemental Grants

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.

☛ More details about Supplemental Grants

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. Other considerations:

  • Graduate and second bachelor's students are not eligible for supplemental grant.
  • Students with international degrees are not eligible for supplemental grant.
  • Students with excessive credits may not be eligible for supplemental grant.
  • Students who have received the equivalent of 12 or more full-time semesters of Pell grant may not be eligible for supplemental grants.

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

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.

☛ More details about Work-Study

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 MyUSU.
    • 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

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.

☛ More details about Perkins Loans

How do I apply for Perkins?

You must submit a Free Application for Federal Student Aid (FAFSA). Perkins funds are limited, and usually limited on a first come/first served basis to students with significant need. After a student has been awarded financial aid, they can contact our office about Perkins loan availability. Students who are awarded Perkins will be required to complete Perkins loan entrance counseling, sign a Perkins Master Promissory Note, and return it to the Cashiers Office.




Other Resources


Scholarships

What scholarships are available?

Undergraduates: A complete listing of USU scholarships is available in the USU Undergraduate Catalog. Graduates: Many sources of aid for graduate students are listed in the USU Graduate Catalog.

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 USU Scholarships Guide for useful info about how to get funding from private sources.

*generally 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).


Emergency Loans

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 MyUSU 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.


Terms and Conditions of Financial Aid:

To receive financial aid, students must agree to and abide by the following terms and conditions on their MyUSU account in order to activate their grants or to accept their loans.

Tuition Payment and Important Deadlines

Tuition Payment and Important Deadlines
  • I understand that university charges will be deducted from my financial aid. I am responsible for checking my balance and paying any remaining university charges before fee payment deadline or I may lose my classes.
  • I understand that I am responsible for dropping my courses if I don't plan on attending.
  • I understand that grants adjust or prorate as I add or drop classes during the first three weeks of the term (to full-time 3/4-time, half-time status, or less than half-time status).
  • I understand if I drop classes during the first three weeks, I may be required to repay excess grant funds immediately. I understand that during summer term grants adjust or prorate for most of the semester.
  • I understand that I can receive aid for only one repeat of a previously passed class. More Information.
  • I understand that grants will not pay for any classes added after the first three weeks of fall and spring semesters even if the class has not started. More Information.
  • I understand that there are established federal deadlines for accepting financial aid.

Other Requirements

  • If I accept Work-Study and/or student loans, I must maintain 6 credit hours.
  • I understand that audited and year-long independent study classes do not qualify for financial aid including loans.
  • I agree to notify the Financial Aid Office with the amounts of any financial assistance which I may receive from other sources including scholarships, rehabilitation assistance, veterans educational benefits, assistantships, fellowships, etc., which do not appear on my application or USU Access award pages. Notify Financial Aid Office.
  • I understand that I cannot receive financial aid including student loans from more than one school at a time. This includes overlapping aid periods. I agree to notify the USU Financial Aid Office about any financial aid that I am receiving from another school. Notify Financial Aid Office.
  • I agree to notify the Financial Aid Office of any change in residency status. Notify Financial Aid Office.
  • I understand that my aid eligibility is based on financial information provided by me and/or my family and is subject to adjustment, proration, or cancellation if errors are discovered, other funds are awarded, or if changes occur in the laws, regulations or appropriations during the period of my award.
  • I understand that financial aid may only be used for education related expenses, including tuition, books, fees, transportation, room and board.

Warning: Don't lose Your Aid! Your Academic Responsibility:

  • I understand I must begin attendance in every class. (If you withdraw from or fail a class and the professor cannot document class participation, assignments, tests, etc., you may be required to repay the aid you received for that class.)
  • I understand I may be required to repay all or a portion of my financial aid if I completely withdraw or receive failing grades in all my classes after receiving financial aid funds. Full policy.
  • I understand that in order to receive financial aid, I must be making satisfactory academic progress toward my degree. Full policy.
    Undergraduates must maintain a 2.0 gpa and earn passing grades in at least 67 percent of the classes they attempt at USU.
    Graduates must maintain a 3.0 gpa.
  • I understand that I can attempt a limited number of credits before financial aid is suspended: Full policy.
    certificated program - 31 credits,
    associates degree - 75 credits,
    first bachelors - 180 credits,
    graduates and second bachelors - 60 credits.

Loans have additional requirements:

  • If I accept a loan, I understand that I will be required to sign a promissory note and complete online loan counseling before my funds are disbursed.
  • I understand I am fully responsible for repaying the loan and meeting all other terms and conditions of the loan.
  • I understand that if I accept a Direct loan, I must maintain 6 credit hours. Dropping below six credit hours any time during the semester will result in going into the six month grace period before repayment begins.
  • I understand that if I accept a Perkins loan, I must maintain 6 credit hours. Dropping below six credit hours any time during the semester will result in going into the nine month grace period before repayment begins.
  • I understand that I will be charged at least .5% to 1.5% in origination and guarantee fees for Direct loans. These fees are deducted from the loan before disbursement.