Let’s look at your options.
If you qualify for financial aid, we’ll help you find it. Multiple resources may be available to help pay for the cost of your education. Our experienced student finance advisors are committed to helping you understand your options and assist you in applying for various forms of financial aid if you qualify.
UMA Financial Aid Facts
UMA FAFSA School Code: 035493
This is the UMA School Code used to complete your Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov.
Contact Financial Aid: 888-212-5421
If you have questions regarding your financial aid, please give us a call so we may assist you.
Types of Financial Aid
Many students are not aware of the many types of grants and federal loans that exist to help pay for the cost of education (if they qualify). Federal Student Aid helps students cover education costs like tuition and books. Aid is available in the form of grants, and loans, and UMA offers Federal Student Aid to those who qualify. We also encourage our students to research other tuition assistance resources, such as need and merit-based scholarships and employer tuition reimbursement.
An affordable education may be closer than you think.
Step 1: Create your Federal Student Aid (FSA) ID
Step 2: Complete the Free Application for Federal Student Aid (FAFSA)
Use the UMA School Code (035493) to complete your Free Application for Federal Student Aid (FAFSA) at http://www.fafsa.ed.gov.
Please complete the 2014/15 and 2015/16 FAFSA using the IRS Data Retrieval on the FAFSA website; if you are not eligible to use the IRS Data Retrieval please use your tax returns. To obtain copies of your tax information, please call the IRS at 800-829-1040.
Step 3: Complete the Information and Authorization Form
Your student finance advisor will provide you with this document via email. This must be completed electronically and submitted back to your student financial advisor. This document is used to collect your personal information, references and treatment of credit balances.
Step 4: Complete your Entrance Counseling
Students that borrow loans under the Federal Direct Loan program are required to complete entrance counseling before their loan can be released. Your UMA student finance advisor will provide this document to you by email. It must be completed electronically and submitted back to your student financial advisor.
Step 5: Sign your Master Promissory Note
Don’t worry, we’re here to help. Call to schedule an appointment with a UMA student financial advisor and get answers to your questions at 888-212-5421.
Federal Pell Grants
Federal Pell Grants provide funding to help eligible students without a bachelor’s degree pay for their education. Unlike loans, grants do not have to be paid back.
July 1, 2014 through June 30, 2015, the maximum Federal Pell Grand award is $5,730. For the award period from 2015 to 2016, the maximum Federal Pell Grand award will be $5,775.
The actual amount of each student’s Pell award is based on the cost of education, the number of hours enrolled and the Federal Pell Grant program regulations. Although not everyone qualifies for this need-based grant, all students should apply.
Applying for a Pell Grant is automatic when you file your Free Application for Federal Student Aid (FAFSA). Filing a FAFSA is necessary for most types of financial aid and it can be done most efficiently online. For additional information, please see the U.S. Department of Education’s website on Federal Pell Grants.
Federal Student Loan Programs
UMA students (and their parents if the student is a dependent) are eligible to apply for Direct Stafford and PLUS Loans. Under the Direct Loan Program, the funds for your loan are offered to you by the U.S. Department of Education.
Federal Subsidized Direct Loan
These are low-interest loans currently offered with repayment at a fixed rate. The interest is “subsidized” or paid by the federal government while the student is in school.
For each academic year, dependent and independent students may be eligible to borrow up to $3,500 as freshmen, $4,500 as sophomores and $5,500 for all other undergraduate levels. The subsidized loan is need based and eligibility will depend on the federal need analysis of the information supplied on your FAFSA. The actual amount of a Federal Direct subsidized loan will be affected by several factors.
Federal Unsubsidized Direct Loan
Many students eligible to participate in Federal Student Aid qualify for the unsubsidized loan. With the unsubsidized loan, interest is charged to you from the time you use the funding on your ledger card – the government doesn’t pay the interest while you’re in school. The interest may be paid while in school and during the grace period, or may be added to the principal of the loan (capitalized). If additional funds are needed beyond these base amounts, eligible parents of dependent students may borrow through the PLUS program.
Stafford Loan Interest Rate Comparison Chart
Loan Type Borrower Type Loans first disbursed on or after 7/1/15 and before 7/1/16 Direct Subsidized Loans Undergraduate 4.29% Direct Unsubsidized Loans Undergraduate 4.29% Direct PLUS Loans Parents and Graduate or Professional Students 6.84%
For additional information on the Federal Loans please see the U.S. Department of Education’s website on Federal Loans.
Federal Government Links:
- IRS forms and publications (need to file before applying for aid)
- Register with selective services (requirement for males)
- National Student Loan Data System
- FAFSA (Free Application for Federal Student Aid)
Third-party reimbursement links
I received my 1098T electronically but I cannot download the form.
- Ensure you are using Internet Explorer as your browser. Other browsers may not support the download.
- If you are still having trouble with the download on Explorer, please call ECSI at 866-428-1098 for assistance.
How do I locate the tax id # on my 1098T form?
- The tax id# is listed in one of the top left boxes under the UMA address.
I did not request electronic delivery of my 1098T form. When can I expect to receive my documents in the mail?
- All forms have been mailed. If you have not received your document by February 15, 2016, please call the Student Finance Department at 877-246-7918.
I need assistance with my PIN in order to download my 1098T form. Where can I find this information?
- Visit the ECSI help website for assistance with your PIN https://cgi.ecsi.net/cgi-bin/bcgi.exe?bcgiu4.