Financial Aid Checklist
When applying for financial aid to help cover academic costs, consider these additional requirements:
- Applicant must be formally admitted into a program that results in a financial-aid-eligible credential upon completion, such as associate, bachelor, master, doctoral, eligible certificate or occupational-endorsement program. For more details, visit the UAA Admissions website or call (907) 786-1480.
- Students accepting federal student loans must be registered for a minimum of six (6) "financial aid eligible" credits as an undergraduate student, or a minimum of five (5) graduate level, financial aid eligible credits as a graduate student.
Steps to Receiving Financial Aid
1. Complete the FAFSA
- A Free Application for Federal Student Aid (FAFSA) should take less than 30 minutes and is required to apply for all federal, state, and need-based institutional aid. For all State of Alaska grants and scholarships, the FAFSA must be submitted by June 30th prior to the beginning of the academic year.
- List the UAA school code (011462) on the FAFSA, and UAA will automatically receive an electronic copy. UAA requires access to a current and valid FAFSA in order to process any financial aid.
- Use the IRS Data Retrieval Tool (DRT) to transfer tax information to the FAFSA or carefully transfer tax information from completed tax forms.
- Verify whether UAA received a FAFSA by checking on UAOnline.
- If an applicant is selected for FAFSA Verification, they are required to complete a "Verification Worksheet" and other financial forms before any financial aid can be processed or disbursed. Refer to Step 3 to determine if applicant required to submit additional documentation to our office.
- When needing to borrow federal student loans as either a student or parent of a dependent student, follow the instructions in "Step 7" of this checklist.
2. Apply for UAA Scholarships
- To apply for scholarships at UAA, submit the UAOnline Scholarship Application by February 15th before the start of the academic year in the upcoming Fall.
- Example: To apply for UAA Scholarships for Fall 2019 or Spring 2020, submit the UAOnline Scholarship Application by February 15, 2019.
- Some scholarships accept applications all year long. It may be worth filing the scholarship application even if the deadline has passed. Visit the UAA Scholarship website for further information or select the "How to Apply for UAA Scholarships" link provided.
3. Monitor financial aid status on UAOnline
The applicant is responsible for monitoring their own financial aid award status. Therefore it is important to do the following:
- Check UAOnline "Financial Aid" tab frequently.
- If required to submit additional documentation to our office, do so as soon as possible to prevent delay in awarding. Documents may be delivered in a variety of ways. Refer to the Contact Us page for options.
- Refer to the Frequently Asked Questions (FAQ) webpage for FAFSA questions related to "Verification", such as how to order an IRS Tax Return Transcript.
- Check for emailed notifications sent to your UAOnline preferred email account.
- 4. Monitor UAA correspondence (email, mail, and UAOnline)
The Office of Financial Aid communicates with students primarily through either UAA student email accounts and/or *UAOnline-preferred email accounts. New students will be mailed one **physical copy of their financial aid award letter but all other correspondence will be sent electronically through email. It is the student's responsibility to check their email account frequently.
* If the student designates a preferred email address on the "Personal Information" tab of UAOnline, all further financial aid messages will be sent to this account.
** A physical copy of financial aid award letters may be printed from the UAOnline > Financial Aid > Awards area.
5. Review financial aid award letter
After receiving an electronic copy of the Free Application for Financial Student Aid (FAFSA), the UAA Office of Financial Aid will send an award letter to eligible students within a few weeks, unless missing requirements are recorded on UAOnline. New students will be mailed one physical copy of the award letter, whereas returning students will be sent award letters through their preferred e-mail addresses only.
Be sure to read the UAA Financial Aid Policies website carefully, as it contains important information about financial aid policies and regulations.
6. Accept or decline award offers
- Log in to UAOnline to accept or decline any Federal Student Loans that have been offered. Students may accept a portion of the loans they have been offered; they do not need to accept the full amounts.
- Pell Grant and other scholarships or grants, are automatically accepted on behalf of the student. This money is free to eligible students.
7. Added Instructions for Federal Student and/or Parent Loan Borrowers
First-time undergraduate and graduate borrowers of federal student loans must complete the following tasks at: StudentLoans.gov. Select either the"Undergraduate Students", "Graduate/Professional Students", or "Parent Borrowers" tab and follow the list of steps to apply:
- Entrance Loan Counseling: Students who have not previously received a subsidized/unsubsidized loan or PLUS loan for graduate/professional students under the Direct Loan Program are required to complete the online tutorial to ensure that they understand the responsibilities and obligations assumed when borrowing a loan. The entire counseling process must be completed in a single session. Most people complete counseling in 20-30 minutes.
- Master Promissory Note (MPN): The MPN is an official, legal document in which the borrower agrees to terms, conditions, and repayment requirements for a federal student loan(s) also known as a "Loan Agreement". Once the MPN is completed, this agreement will also be applied to subsequent Federal Student Loans borrowed in the next 10 years. The MPN is only required to be completed once unless a student borrows again 10 years later. Most people complete it in 20-30 minutes. Contact information for two references is required.
- Federal PARENT PLUS Loan Borrowers: Parents of dependent students who elect to take out a federal loan on behalf of a UAA student have several steps to complete in the process.
Visit StudentLoans.gov and select the "Parent Borrowers" tab:
- Complete Loan Agreement for a PLUS Loan (MPN)
- Complete a Parent PLUS Loan Request Form*, available on the UAA Financial Aid Forms page
*If the parent-applicant's credit score is approved by the federal processor, the funds will be applied to the student's UAA account and will be used to pay any outstanding tuition, housing or other qualified charges. This form also allows the parent to inform UAA how to disburse any remaining loan credit balance, resulting from the PLUS loan deposit.*If the parent-applicant's credit score is not approved, the dependent student may speak to a UAA Financial Aid Advisor about gaining additional loan eligibility in the current academic year.