Financial aid is designed to bridge the gap between the cost of attending Utah Valley University and what the students and their families are expected to pay. Visit our Cost of Attendance page for more information at http://www.uvu.edu/financialaid/consumer/cost.html.
After Utah Valley University has received your Free Application for Federal Student Aid (FAFSA) information with a valid Expected Family Contribution, and you have completed all other necessary steps in the application process (see http://www.uvu.edu/financialaid/apply/index.html for information about the application process), the Expected Family Contribution, Cost of Attendance, and other outside resources, known as other Estimated Financial Assistance, are evaluated to determine your federal student aid award. The total federal student aid and other Estimated Financial Assistance cannot exceed your Cost of Attendance. When the award is offered, an email notification will be sent to your UVLink email account. To view your awards, log in to UVLink, click on the Student tab, Financial Aid folder (under Banner Services), Award folder, Award link, Select the appropriate Aid Year, Award Overview.
Financial need = your Cost of Attendance minus your Expected Family Contribution. For example, if your Cost of Attendance is $6,000 and your Expected Family Contribution is 2000, your financial need is $4,000. In this example, you are not eligible for more than $4,000 in need-based aid.
The following are the need-based federal student aid programs that Utah Valley University participates in:
Non-need = your Cost of Attendance and other Estimated Financial Assistance. For example, if your Cost of Attendance is $6,000 and you have been awarded a total of $4,000 in need-based aid and private scholarships, you can receive up to $2,000 in non-need-based aid.
The following are the non-need-based federal student aid programs that Utah Valley University participates in:
Private education loans are not federal student aid loans, but are considered non-need-based aid.
Federal Pell Grants are considered to be the first source of aid to the student and is need-based aid.
Federal Pell Grant minimum and maximum award amounts are determined annually by the U.S. Department of Education. Your award amount is based upon your Expected Family Contribution, your Cost of Attendance, full-time enrollment, and the Federal Pell Grant Payment Schedule issued by the U.S. Department of Education. (To view the 2015-2016 Federal Pell Grant Payment Schedule, visit https://ifap.ed.gov/dpcletters/attachments/GEN1502Attach.pdf.) If your Expected Family Contribution is higher than the eligible Federal Pell Grant Expected Family Contribution found on the Federal Pell Grant Payment Schedule, you will not be eligible to receive a Federal Pell Grant.
If you are eligible, a Federal Pell Grant will be awarded and automatically accepted. If you do not want to receive the Federal Pell Grant, you may contact the Financial Aid and Scholarships Office to cancel the award.
A full award encompasses two full-time semesters, totaling 100% for an award year. A semester disbursement cannot exceed 50%. Example: If you are awarded a Federal Pell Grant of $5,000 for the award year, your Federal Pell Grant award per semester will be $2,500 (unless your Federal Pell Grant must be prorated due to your enrollment, see Enrollment and Census Date information below). If your Federal Pell Grant is prorated due to less than full-time enrollment, you may be able to use the difference for summer semester.
Per federal regulation, students are not permitted to receive a Federal Pell Grant at two schools in the same payment period (semester).
Your Federal Pell Grant disbursement amount is based on your enrollment.
For financial aid purposes, there are generally four enrollment levels:
Example: If you have been awarded $1,000 in Federal Pell Grant for one term. You will receive the following amount based on your enrollment:
If you are awarded a Federal Pell Grant, your Federal Pell Grant will be adjusted to reflect your actual enrollment on the ”Last Day to Adjust Class Schedule for Financial Assistance Purposes” found on the Student Timetable (www.uvu.edu/schedule). This is known as the Census Date. The eligible classes in which you are enrolled as of this date, will determine the amount of Federal Pell Grant you will receive. If you add a class after this date, you will not receive additional Pell Grant to help pay for the added class, even if your instructor, academic advisor, or others advised you to add the class. Be prepared to pay for the class on your own.
If you add or drop a class before the Census date, your Federal Pell Grant disbursement will be adjusted appropriately (according to your enrollment), and you may owe a balance to the Utah Valley University Cashiers Office. Any time you adjust your class schedule, we recommend reviewing your account balance by logging intoUVLink, go to Student tab, Financing & Paying For Your Education, Tuition Payment PLUS.
Please contact a Financial Aid and Scholarships Office Counselor before making adjustments to your enrollment. For information about dropping, auditing or withdrawing when you have federal student aid, visit http://www.uvu.edu/financialaid/consumer/withdrawal.html.
After you are awarded, and if you are eligible, your Federal Pell Grant will be sent electronically to the Bursar's Office no sooner than ten days prior to the first day of your enrolled classes. Your Federal Pell Grant will first pay your outstanding tuition and fees and, if authorized by you, any other institutional charges. After this balance is paid, and if there is any excess federal student aid, the Utah Valley University Bursar's Office will refund the monies to you either by check through the U.S. Postal Service to the local address listed in UVLink (this is the default method), or through direct deposit (which you may set up in UVLink). If mailed, please allow 3-5 business days for the refund to be processed.
The Utah Valley University Financial Aid and Scholarships Office and Bursar's Office process federal student aid disbursements and refunds every business day. This refund money may be used for educational purposes and to pay the cost of attending Utah Valley University.
The Financial Aid and Scholarships Office will send your Federal Pell Grant and Federal
Loan information to the U.S. Department of Education. This information is then included
in the National Student Loan Data System (NSLDS) and is accessible to you and authorized
agencies, lenders, servicers, and institutions. You can view your complete Federal
Loan and Pell Grant history in the National Student Loan Data System at www.nslds.ed.gov.