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FINANCIAL AID
The University of West Alabama offers a comprehensive program
of financial aid to assist students in meeting educational expenses. Financial
aid is available to help cover direct education costs such as tuition, fees, and
books as well as indirect expenses such as food, clothing, and transportation
expenses.
The primary responsibility for paying educational costs rests
with the student and his or her family. Financial aid is available to "fill
the gap" between the cost of education and the amount that the family can
reasonably be expected to contribute. The Federal Processor will determine the
family’s ability to pay by performing a need analysis based on the family’s
income and asset information, through the Free Application for Federal Student
Aid.
HOW TO APPLY
Students must complete the Free Application for Federal Student Aid. This is
the first step in applying for any Federal Student Aid. Students should complete all forms carefully and
accurately. Errors or omissions will cause delays in processing.
WHEN TO APPLY
The application priority deadline for consideration for financial aid funds
is March 1st of each year. Applications are accepted all year; however, funds may be
limited after March 1.
Normal processing time for a financial aid application is
three to four weeks; however, loan applications may take longer because of
additional bank and guarantee agency processing. Students should apply well in
advance of the date that funds will be needed. All students must reapply
annually. Applications are generally available each January for the following
academic year.
GRANTS
Federal Pell Grants
The Pell Grant program provides federal grant aid to needy
undergraduate students. Awards range from $400 to $4,310 per year, and no
repayment is required.
Federal Supplemental Educational Opportunity Grant (SEOG)
The SEOG program provides additional grant assistance to
very needy undergraduate students. Funds are limited, and priority is given to
students who apply before March 1st and are Pell Grant eligible.
LOANS
Federal Stafford Loan
The Stafford Loan program provides low-interest, long-term,
educational loans through participating banks, credit unions, and other
financial institutions. Graduate and undergraduate students who are enrolled at
least half-time are eligible to apply.
Maximums are:
$3,500 - Freshmen,
$4,500 - Sophomores
$5,500 - Juniors & Seniors
$8,500 - Graduate Students
Repayment begins six months after the student is no longer
enrolled at least half time. Independent students and dependent students
whose parents are denied a Parent PLUS Loan are eligible for an additional
unsubsidized federal Stafford Loan as follows:
$4,000 - Freshmen
and Sophomores
$5,000 - Juniors & Seniors
$10,000 -
Graduate Students
Federal Perkins Loan
The Perkins Loan Program offers long-term, 5 percent interest
loans to graduate and undergraduate students. Eligibility is based on financial
need. Repayment begins six months after the student is no longer enrolled at
least half time.
Federal Parent Loans for Undergraduate Student (PLUS)
The Parent Loans for Undergraduate Students Program (PLUS) provides
non-need-based loans to parents of dependent students.
Repayment begins 60 days after disbursement of the loan. The
interest rate is variable. Applications are available from the Financial Aid
Center.
EMPLOYMENT
Federal Work-Study (FWS)
Part-time employment on campus is available for graduate and
undergraduate students with financial need through the Federal Work-Study
Program. Generally, students work 10 to
18 hours per week and are paid the federal minimum wage.
OTHER SOURCES OF ASSISTANCE
Many employers offer
tuition reimbursement to their employees. In addition, a number of other
scholarships and grants are available through individual program offices,
private donors, and community organizations.
Students should contact their employer, program office, or
the Financial Aid Center for further information.
GENERAL INFORMATION AND
HELPFUL HINTS
To receive financial aid from any Federal student aid
programs discussed in this publication, students must meet all of the
following criteria:
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Have financial need, except for some loan programs.
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Have a high
school diploma or a General Education Development (GED) Certificate, or
complete a high school education in a home setting that is treated as a
home school or private school under state law.
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Be
enrolled or accepted for enrollment as a regular student working toward a
degree or certificate in an eligible program. (You may not receive
aid for correspondence or telecommunications courses unless they are part
of an associate, bachelor's or graduate degree program.)
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Be
a U.S. citizen or eligible non-citizen
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Have a
valid Social Security Number. If you don't have a Social Security
Number, you can find out more about applying for one on the Internet
at www.ssa.gov
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Meet minimum satisfactory academic progress standards.
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Certify that you will use federal student aid only for educational
purposes.
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Certify that you are not in default on a Federal student loan and that you
do not owe money on a Federal student grant.
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Register with the Selective Service, if required.
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