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.
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.
Create your Federal Student Aid (FSA) ID if you do not already have one at https://fsaid.ed.gov/npas/index.htm. Your FSA ID is necessary to gain access into the Federal Student Aid websites.
Create your FSA ID
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.
Complete the FAFSA
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.
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.
To receive your Federal Direct Loan(s), you will need to sign a master promissory note which is a promise to make payments on your loan(s). You can sign it electronically online at https://studentloans.gov/.
Read more about How to Complete the Master Promissory Note (.pdf).
Sign 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 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.
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.
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.
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.
For additional information on the Federal Loans please see the U.S. Department of Education’s website on Federal Loans.
Call now to set an appointment with a student finance advisor: 888-212-5421 or email us your documents at firstname.lastname@example.org.
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