1
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Who can answer my questions about the FAFSA?^
2
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What is the Estimated Family Contribution?^
The EFC is computed from information you put on your FAFSA. It is used to determine your eligibility for need-based financial aid. Although you can think of it as what the federal government has determined you and your family can contribute to the cost of your education, it is not necessarily what you have in a bank account, nor is it a balance you owe the university. You can obtain a low-cost Unsubsidized Stafford loan (one that is not based on financial need), even with a high EFC.
Cost - EFC = Need
3
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What can I do if the offered federal aid is not enough to cover all of my expenses?^
If your federal award falls short of your costs, you can:
- Seek employment. Many students find that part-time employment (i.e., 20 hours/week) will pay most, if not all, of their living expenses;
- Apply for scholarships.
- If you indicated that you were not interested in loans on your FAFSA, but if you change your mind, just let us know. We'll put together an offer for you if possible.
4
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Do I have to reapply every year?^
You must complete a new FAFSA application for each academic year. The application for the following academic year becomes available after January 1. You will need the UAS School code, 001065.
If you are borrowing loans, you need submit a Master Promissory Note (MPN) only once with your lender. If you are a transfer student, or have a prior student loan, you are encouraged to borrow from your previous lender. However, if you want to switch to a new lender, you will need to submit a new MPN. With a PIN issued from the Department of Education, you can digitally sign and submit an MPN electronically at your lender's website. If you already have a valid MPN on file with a lender, please contact the Financial Aid Office with your lender information.
5
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Are there remaining requirements I must meet?^
- View remaining requirements to finalize financial aid at UAOnline.
- Federal aid recipients must be admitted to a degree program. You can apply online.
- Financial aid recipients must be making satisfactory academic progress. If this is your first semester at any of the Universities of Alaska, you are considered to be in good standing. View your academic progress status on UAOnline, which is updated after grades are posted each semester.
6
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When will I receive my money?^
Pell and SEOG grant disbursements are scheduled for the first day of each semester, or as soon after that when you have completed any remaining requirements.
For most borrowers, half of your year's loan will be credited to your account in your first semester and the other half will be credited in the second. Loans are disbursed in at least two equal disbursements over a loan period. For example, if you are attending fall and spring semesters, you will receive half of the loan in the fall and half in the spring.
See Disbursement Procedures and Important Dates for more information.
7
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Why am I considered to be a "dependent student", when I have not received financial assistance from my parents and was not claimed as a dependent on their tax return?^
A "dependent" for financial aid purposes and tax purposes are not exactly the same notions. For federal student aid, the Higher Education Act defines an independent student as one who:
- is 24 years of age or older before January 1 of the award year;
- is married;
- is a graduate or professional student;
- has legal dependents other than a spouse;
- is a veteran of the Armed Forces of the Unites States; or
- is an orphan or ward of the court or was a ward of the court until the individual reached the age of 18.
Students not meeting these criteria are considered to be "dependent", which means that you must provide financial information for your parents on the FAFSA. Including their information does not mean you will not be eligible for need-based aid, since several factors are considered in the calculation of need in addition to household income. Even if you are not eligible for need-based aid, you should still be eligible for other types of federal aid.
A request to review extenuating circumstances may be made if documentable.
If you are unable to complete your application for federal funds, let us know. We can help you in locating alternative sources of funding.
8
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I am a ward of the court. How do I prove I'm independent?^
The State of Alaska does not recognize "ward of the court" status, unless all parental rights were terminated. Please provide a copy of the court order showing parental rights were terminated. If you can't claim ward of the court status after all, and are unable to obtain your parents' financial information, please contact us. We will help you locate alternative sources of funding.
9
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I have a child. How do I prove I'm independent?^
By showing that you provide more than 50% of your child's support. If your ability to do so is not apparent from your reported wages, please submit the Support of Child Determination form.
