Contact the Financial Aid Office with your question, or consult the FAQ on FAFSA or The Department of Education's site for help with completing the FAFSA.

It is a low interest federal loan made to you by an approved lender to help pay for your education after high school. The interest rate is variable, but cannot exceed 6.8% There are two types of Federal Stafford Loans:

• The subsidized Federal Stafford Loan is based on need and the government pays the interest for you while you are in school.
• The unsubsidized Federal Stafford Loan is not need-based, so it is available to students regardless of financial need or income level. The student is charged the interest on the unsubsidized loan while in school, and has the option to make interest payments, or allow it to accrue and capitalize.

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.

Review Application Procedures and Award Acceptance.

Remember, most loans must be repaid with interest, and we highly recommend you obtain as much financial aid as possible that does not have to be repaid. Borrow sensibly and wisely, and only what you will need. Explore scholarship options. Always use all available federal funds before pursuing alternative loan options. Current Federal Stafford Loan Limits are as follows:

If you are a transfer student, we may be able to increase your loan offer once your transfer credits have been evaluated. Please contact the Financial Aid Office when they have been evaluated, if your class standing will consequently increase, and if you are interested in borrowing a larger loan. Contact our transcript evaluator (907-796-6366) to determine the status of your transfer credit evaluation. Another reason you may have been offered less than the limits listed above may be because your total financial aid award already meets your costs of attendance.

Lenders charge up to a 3% origination fee for Stafford Loans. For example, if you borrow a $2,625 Stafford Loan, and the lender charges 3%, you will actually receive $2,546.25 as a credit on your student account.

If you choose one of the suggested lenders, your loan will automatically be deposited into your student billing account. If you do not choose a suggested lender, your loan funds may arrive via a physical check that you will need to endorse.

For most borrowers, half of your 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 Important Dates and Disbursement Procedures for more information.

• View remaining requirements to finalize financial aid at UAOnline.
• First time borrowers at UAS must complete an informational session called an "Entrance Interview" prior to your loan funds being released. You can complete your entrance interview online by going to Mapping-Your-Future.
• Borrowers must be admitted to a degree program. You can apply online.
• Borrowers 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.
• Review Application Procedures and Award Acceptance for more information.

You need submit a Master Promissory Note (MPN) only once, unless you change lenders. If you've never submitted an MPN before, you can do so directly on your lender's Website; see our Suggested Lender List for links.

By signing the MPN electronically or on paper, you agree to repay the loan with interest according to the terms included in the Note. Be sure to read the entire Note carefully and contact the Financial Aid Office if you have any questions.

Note that you must complete a new FAFSA application each year. If you are a transfer student, are borrowing a federal loan for the first time, or are changing lenders, you must complete the Lender Notification form.

You may choose any bank that participates in the Federal Stafford Loan program. Or, consult our Suggested Lenders page.

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.
• Make payment arrangements over the course of the semester for your university-related charges.
• Apply for an alternative loan. You would be eligible for an alternative loan in an amount that does not exceed your estimated costs of attendance with all of your financial aid taken together. Be sure to exhaust the cheaper federal student loans first.

If your parents are unwilling to borrow a PLUS loan, you can seek any of the options listed immediately above. If your parents are unable to borrow a PLUS loan for credit reasons, we recommend they apply for "pre-approval" (via the web sites of any of our suggested lenders or elsewhere). If you are denied the PLUS, you may borrow additional funds from the Unsubsidized Stafford Loan program. Accept any Unsubsidized Stafford funds on UAOnline.

You will be contacted when your funds have been disbursed. Your funds will first be applied to any balance due for university charges. If your funds are in excess of your charges, you will be issued a refund check by your campus' business office. To determine the availability of your refund check, consult the cashier at 907-796-6267, or keep an eye on your student billing account at UAOnline.

There are a number of types of financial aid, including grants and scholarships (which do not have to be repaid), student employment (or wages earned), and loans (which do need to be repaid). All of these can help pay your costs of attendance.

The amount of loan funding for which a student is eligible may affected by financial need, credit history, class standing, amount of other aid offered, and costs of attendance. There are a number of different loan sources, including federal loans, state loans, and alternative (or private) loans. It may be useful to utilize loan calculators and other available tools to determine what monthly payments and accrued interest will be once the student enters into repayment, how much a student can expect to earn upon graduation, etc.

You can accept all, none, or any portion of the funding you've been offered. If you want a portion of what you've been offered, accept a smaller amount on UAOnline. If things get tight later in the academic year, you may request previously declined loans, so long as you are still eligible.

Possibly. Check here for more information.

Yes.

The Nursing Education Loan Repayment Program offers registered nurses substantial assistance to repay educational loans in exchange for service in eligible facilities with a shortage of nurses. Authorized by Section 846 of the Public Health Service Act, the purpose of the program is to assist in the recruitment and retention of professional nurses dedicated to providing health care to underserved populations. See this article for more information.