Financial Aid Programs

Today is Tuesday, September 02, 2014
 

Many sources of student financial aid exist to help cover the cost of attending UTA. All interested students should apply for assistance each year, as eligibility may vary from one year to the next. Financial aid is generally limited to U.S. citizens or those in this country on other than temporary visas. Recipients must meet the General Eligibility Requirements.

Students wishing to apply for need-based financial aid should complete the Free Application for Federal Student Aid (FAFSA) as early as possible prior to enrollment at UTA. The FAFSA may be obtained electronically at www.fafsa.ed.gov. The total amount of financial aid awarded from all programs combined cannot exceed the cost of attendance as calculated by the University. The total amount of financial aid available through need-based programs is limited to the cost of attendance minus the expected family contribution calculated through the FAFSA.

Veterans of the U.S. Armed Forces may be eligible for financial assistance through the Veterans Administration. Information concerning veterans benefits is available through the UTA Department of Veterans Affairs, which is located in Davis Hall, Room 252. The type of benefits and the amount of veterans benefits will be considered when calculating a student's eligibility for other types of financial aid. For more information on Veterans Affairs, please visit our Veterans Affairs website at www.uta.edu/vets.


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Grants

Grants are funds that normally do not require repayment, and are awarded on a first-come, first-served basis. Due to limited funds, most grant funds are no longer available to students who complete financial aid applications after the published deadlines. It is important to submit all requested documents to the Office of Financial Aid by the published priority deadline to be considered for grant funds. To receive maximum grant funding, you must enroll as a full-time student (12 undergraduate hours and 9 graduate hours). However, a limited number of prorated grants are available to students enrolling for 6 - 11 semester hours. Students participating in the Academic Partnership programs are only eligible for funding through the Federal Pell Grant, TEXAS Grant and TPEG programs pending available funding. UT Arlington reserves the right to reduce the amount of grant funds awarded to students who receive other scholarship assistance, grant assistance or specific tuition waivers that are designated to cover tuition and fees.

Federal Pell Grants -- The largest of the federal grant awards, this program provides grants to undergraduate students who meet the eligibility criteria. Federal Pell Grant funds are awarded to eligible students before other aid is awarded. The amount of the grant is based on a federally mandated formula approved by the United States Congress. Annual awards for 2014-2015 range from $5,730 to $602. Students may not receive Federal Pell Grant funds from more than one college or university during the same academic term.

Students may receive Federal Pell Grants for up to 6 years of full-time study. Once a student receives Federal Pell Grant funds for 6 years, the student has met the Lifetime Eligibility Usage (LEU) and is no longer eligible to receive grant funds through this program.& Click here to view a video about Lifetime Eligibility Usage (LEU).

Federal Supplemental Educational Opportunity Grants -- These federal grants are awarded to assist undergraduate students with exceptional financial need. Annual awards range from $400 to $2,000.

Texas Public Education Grants -- These grants are available to both graduate and undergraduate students with demonstrated financial need. Annual awards range from $400 to $4,000.

Mav Grants -- These grants are available to both graduate and undergraduate students with demonstrated financial need who are bona fide Texas residents. Annual awards range from $200 - $4,000.

TEXAS Grants -- These grants are available to students who meet both specific academic criteria as well as demonstrated financial need based on available funding. Eligible students must be Texas residents, graduate from a public or accredited private high school in Texas no earlier than Fall 1998 or receive an Associate degree in May 2001 or later, must complete the recommended high school curriculum or its equivalent, and must not be convicted of a felony or a crime involving a controlled substance. The priority deadline for first-time applicants is March 15. For a complete list of TEXAS Grant eligibility criteria, including the Priority Model Requirements, go to: College For All Texans. Available funding and maximum award amounts are determined by the Texas state legislature. New students who wish to be reviewed for TEXAS Grant eligibility may complete  the TEXAS Grant Interest Form.

Federal TEACH Grant --These grants are available to students who plan to teach in designated shortage teaching areas at low income Title I schools. Students may receive up to $4,000 per year, but the grant reverts to an Unsubsidized Direct Stafford Loan if the teaching obligation is not met. Click TEACH Grant Fact Sheet for additional information.

State Scholarships, Waivers and Exemptions -- The state of Texas provides additional funds for students in specific situations.


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Loan Programs

Click here to view a video about loans.  Click here to view a playlist of videos titled "Know Your Loans."

Federal Perkins Loan – 0% origination feeGraduate and undergraduate need based loan$3,000 annual maximum undergraduate $4,000 annual maximum – graduate5% interest rate; interest begins to accrue at repaymentRepayment begins 9 months after student is no longer enrolled at least half-time – 10 year standard repayment
Federal Direct Subsidized Loan – 1.072% origination feeUndergraduate need based loanNeed based annual awards up to: Freshmen -$3.500 Sophomore-$4,500 Junior-$5,500 Senior-$5,5004.66% interest rate on loans made after 7/1/14; interest begins to accrue when enrolled less than half-timeRepayment begins 6 months after student is no longer enrolled at least half-time – 10 standard repayment with longer repayment options
Federal Direct Unsubsidized Loan – 1.072% origination feeUndergraduate and graduate loanAnnual awards Dependent*: Freshmen -$5,500 Sophomore-$6,500 Jr./Sr - $7,500 Independent*: Freshmen-$9,500 Sophomore-$10,500 Jr./Sr - $12,500 Grad - $20,5004.66% interest rate on loans made after 7/1/14 for undergrads; 6.21% interest on loans made after 7/1/14 for grads – interest accrues upon receipt of loan fundsRepayment begins 6 months after student is no longer enrolled at least half-time – 10 standard repayment with longer repayment options
Federal Parent Loan for Undergraduate Students (PLUS) – 4.288% origination feeParents of undergraduate dependent students – borrowers must be US citizens or permanent residents; requires a credit check for the borrowerAnnual awards- up to the UT Arlington calculated Cost of Attendance minus other aid including Federal Direct Loan eligibility7.21% interest rate on loans made after 7/1/14; interest accrues upon receipt of loan fundsRepayment begins within 60 days of the annual loan disbursement;
College Access Loan – 3% - 5% origination fee depending on credit scoreGraduate and undergraduate students who are Texas residents based on available funds; requires a credit check on either the borrower or the cosignerAnnual awards- up to the UT Arlington calculated Cost of Attendance minus other aid including Federal Direct Loan eligibility5.25% fixed interest rate; interest accrues upon receipt of the loan but is not capitalized
Repayment begins 6 months after the student is no longer enrolled at least half-time – 10 year standard repayment
Texas B-On-Time Loan – 3% origination feeUndergraduate students who meet designated criteria – www.hhloans.comUp to $8,000 annually0% interest rate but loan may be forgiven if the student meets certain criteriaRepayment begins 6 months after the student is no longer enrolled at least half-time

*your dependency status as determined through the FAFSA.

Private alternative loans are also available through a variety of lenders. These loans have variable interest rates and repayments terms, and they typically require a credit check for the borrower. A credit-worthy co-signer may also be required. Because of the current climate in the credit market, you may see a tightening of the credit requirements for private loans. You should apply as early as possible for these loans in order to receive a response from your lender in time for funds to arrive at UT Arlington prior to the payment due date. For additional information, go to the Loan Process on this web site.


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Work-Study

Federal Work-Study (FWS) Program is based on financial need and enables both graduate and undergraduate students to defray a portion of their educational expenses with part-time work earnings. This "self-help" program is strongly emphasized at UTA due to the documented benefits outlined above and the reduced reliance on student loans. FWS jobs are available both on and off campus. Recipients of FWS may work up to 19 hours a week to earn up to the full amount of your FWS award. You will be paid twice monthly for the actual hours worked. The award amount indicated on the Award Letter is a maximum eligibility to earn, and FWS awards do not credit to your student account. Receiving a FWS award is not a guarantee of employment. The majority of available FWS positions are located on campus, but off-campus positions are available with a number of area non-profit organizations. You may view available on-campus student positions at SNAP Job (On-Campus Student Employment).

Student Employment is not based on financial need, and allows students to work in both on- and off-campus employment. The Career Center provides job postings for available off-campus positions. The Office of Human Resources utilizes an On-Campus Student Employment System to post all on-campus student jobs. You may view available on-campus student positions at SNAP Job (On-Campus Student Employment).


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