Types of Financial Aid
Financial aid is designed to bridge the gap between the costs of attending UVU and what the students and their families are expected to pay. Please see our To Apply page for instructions on how to complete the application process.
FEDERAL PELL GRANTS provide non-repayable aid for eligible students. The minimum and maximum award amounts are determined by the Federal Government annually. The student's award amount is based upon the EFC, the cost of attendance, and the payment schedule issued by the U.S. Department of Education.
FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS provide non-repayable aid for eligible high-need students.
HIGHER EDUCATION SUCCESS STIPEND PROGRAM provides non-repayable aid for eligible Utah residents.
FEDERAL PERKINS LOANS provide low interest loans to help students finance the costs of their education. Although the money must be repaid, payments do not start and no interest is charged until nine months after the borrower ceases to be enrolled at least half-time. When interest begins to accrue, it is at the rate of 5% per year (subject to change). In-person counseling is required of every student who receives a loan.
FEDERAL DIRECT LOANS are low interest loans for students and parents to help pay for the cost of a student's education. The lender is the U.S. Department of Education, though the servicer the student will work with can be a private business. There are three types of Direct Loans: Subsidized, Unsubsidized, and PLUS.
- DIRECT SUBSIDIZED LOANS are available to undergraduate students with financial need. The U.S. Department of Education pays the interest while the student is attending school at least half-time, for the first six months after the student leaves school, and during a period of deferment. However, for Direct loans made on or after July 1, 2012, and before July 1, 2014, interest will now accrue during all periods of non-enrollment. The amount that may be borrowed depends on the borrower's need and year in school. The current interest rate is 3.4%. Online loan counseling is required of every student who receives a loan.
- DIRECT UNSUBSIDIZED LOANS are available to undergraduate and graduate students. There is no requirement to demonstrate financial need. The current interest rate is 6.8%. Interest accrues during in-school, grace, and deferment periods. It may be paid monthly or quarterly, or added to the principal amount of the loan.
- DIRECT PLUS LOANS are federal loans that graduate students and parents of dependent undergraduate students can borrow to help pay for educational expenses. The borrower must not have an adverse credit history. The current interest rate is a fixed interest rate of 7.9%. The maximum loan amount is the student's cost of attendance minus any other financial aid received. PLUS loans enter repayment as soon as the loan is fully disbursed. Graduate students will have their PLUS loan deferred while they are enrolled at least half-time and for an additional six months after they cease to be enrolled at least half-time.
UVU offers the Tuition Payment Plan for students who need short term financial assistance.
FEDERAL WORK STUDY provides part-time jobs for undergraduate students with financial need, allowing them to earn money to help pay education expenses. The program encourages community service work and work related to the student's course of study.
STATE WORK STUDY follows the same guidelines as the Federal Work Study; however, students must be Utah residents to qualify.
Utah Valley University offers a comprehensive and varied scholarship program. Scholarships are provided by State and University funding, alumni, and private donors and are awarded on the basis of academic excellence and promise of future achievement. Financial need is a factor for some awards. Additionally, students who have acquired skills may be awarded for their talents.
There are additional facts to know about scholarships. Utah residency is required for all except exceptional performance and privately funded programs. If a student is offered more than one scholarship, it may be necessary to indicate a preference. Scholarships are offered to New, Transfer, and Continuing students. Please see our Scholarships page for more information.