FAQs about financial aid

Refunds are processed by the Office of the Bursar. You can sign up for direct-deposit on UAOnline for faster processing. Once you see your refund processed on your student bill, the funds will be in your bank account in 3-5 business days.

Financial aid can be used to purchase books, once all of your charges (tuition, fees, housing and meals) are paid in full. You can purchase books out-of-pocket and wait for your reimbursement check or you can request an from the Office of the Bursar.

Loan amounts can change for a variety of reasons. The most common reasons at are:

  • Application had incorrect information: The US Department of Education sets yearly loan amounts based on your class standing. As you increase in standing, you are eligible for additional loan funds. We offer you loan amounts based on the degree and level information you provided on the FAFSA. As we process loans you accept, we review your status. If we need to update your status on your FAFSA (example: changing from Junior status to Sophomore status), your loan eligibility may be adjusted.
  • We added scholarships to your account: There is a maximum amount of financial aid a student can receive. We award you the maximum amount of student loans you are eligible to receive at any given time. If you are award other financial aid (example: scholarships or graduate TA), we may need to reduce your loan offer. If you have expenses above and beyond the average student and would like to request an increase to the maximum amount of financial aid, please review and submit the .

All scholarship checks should be mailed to the financial aid office. Please make sure your name and student ID number are included in the memo field of the check or on an attached award letter. To guarantee that a scholarship gets posted before the deadline to pay fees, checks should be mailed before the start of the semester. Please allow 3 weeks for mail time and 5 business days for processing time.  

Financial Aid Office
PO Box 756360
Fairbanks, AK 99775

If you were offered a scholarship, we will add this information as soon as the department contacts our office. Please refer to your award letter for any instructions for acceptance of the award.

If you were awarded a scholarship from outside of , we will post it to your student account when the check arrives. Please allow 5 business days for the processing of a check after we receive it.

Based on your FAFSA application information, the US Department of Education may have selected you for a process called verification. During verification, we may be required to collect the IRS Tax Return Transcript from the tax year of your financial aid application. All students selected for verification will be required to submit a Verification Worksheet. If we are requesting your documents, please submit as soon as possible. The processing time for verifications can be up to 10 business days if we need to make corrections to your FAFSA application. You will need to request your IRS Tax Return Transcript from . We cannot accept the 1040 form.

The FAFSA required your tax information from two years prior and your marital status as of the day you file. You cannot update this information if it has changed. You can apply for a review by the financial aid office by submitting a Request for Review of Special Circumstances (link to forms section, since form will change every year) form and supporting documents. If approved, our office will make changes to your application and determine an award based on your current financial or marital status.

The US Department of Education requires students to provide parental information on the FAFSA unless they are 24 years of age, married, have dependents, are active duty military or veteran, or meet certain other criteria. The FAFSA will determine your status. If you are unable to provide parental information, please contact the Financial Aid Office to discuss your situation.

Your eligibility for summer financial aid will be determined on an individual basis. After you register in summer courses, please submit a to have your status reviewed. The UA Scholars award can be used in summer by full time students by special request. Most scholarships are not eligible for summer courses. 

The Pell grant is prorated based on your enrollment status. The full award for the semester is only available for full time students enrolled in 12 or more credits.

The US Department of Education requires a 1% origination fee for Federal Direct Loans. This amount is automatically deducted from your loan at the time of disbursement.

Upon receipt of your financial aid applications, we award the maximum amount of federal student loans, grants and scholarships. If you need additional funding beyond the award offer, you may be eligible to apply for a PLUS loan, alternative loans or scholarships from a variety of agencies.

Students can check their eligibility for APS through the Returning students can view their eligibility now. The class of 2024 will be able to view their eligibility in late August. will receive eligibility information in late August. At this time, does not have the ability to view new APS students.  

The Alaska Education Grant (AEG) is a state funded grant program for students that show high financial need. The grant is available for Alaskan residents with the lowest Student Aid Index (SAI) , as determined by the Free Application for Federal Student Aid (FAFSA). 

The Alaska Commission on Post-Secondary Education (ACPE) will award Fall APS and AEG in early September. will receive information on awards soon afterward and will post directly to student accounts. There is a possibility of delay for new students due to a data transfer within the state system. The Financial Aid Office will work with ACPE and the Office of the Bursar to post awards to student accounts as soon as we receive the information by the state. Students will not have late fees assessed for the delay in state aid disbursements. 

The deadline to complete the FAFSA to apply for APS and AEG was June 30, 2024. If you missed this deadline, you should complete the as soon as possible to be considered for late awards. 

Your current financial aid offer is not affected. Your federal aid (loans and grants) and Scholarships are not impacted by this situation. The Financial Aid Office has advisors available to discuss your financial aid options and your bill. Please feel free to contact us at 907-474-7256, uaf-financialaid@alaska.edu or 107 Eielson Building. There is also a financial aid advisor located at the Community & Technical College at 604 Barnette Street. 

All students should complete the Free Application for Federal Student Aid (FAFSA) to apply for federal financial aid. Federal aid includes grants, work-study and low interest student loans. The priority deadline for scholarships has passed, but we encourage you to complete the for any late applications.

The financial aid office can assist with the application process and discuss alternative ways to pay for college. You can reach them at 907-474-7256, uaf-financialaid@alaska.edu or 107 Eielson Building. There is also a financial aid advisor located at the Community & Technical College at 604 Barnette Street.

The deadline to pay fall fees is the second Friday after the first day of instruction. Payment plan options are available through . Payment plan details are available through the Office of the Bursar (907-474-7384, uaf-bursar@alaska.edu). Students will not have late fees assessed for the delay in state aid disbursements. 

If you are considering accepting student loans for the 2024-2025 award year, you can complete an online tutorial called to learn more about the terms and conditions. Entrance counseling is required if this is your first time accepting a federal student loan. It can be completed multiple times if you need a refresher. The Financial Aid Office can assist you in determining the amount you need to borrow for the academic year.