Financial aid helps students and their families pay for college through grants, scholarships, work study and loans.
- Financial aid typically includes student loans, parent loans (for dependent students), and grants for students with high financial need.
- Federal loans are the primary source of financial assistance.
- A variety of scholarships, loans, and state grants are available.
Continuing Education students
- Federal aid options are very limited for continuing education students, and when applicable, are only in the form of loans.
- To determine your eligibility, please visit our page for Continuing Education & Certificate Program Financing and Financial Aid.
If you apply for financial aid, you may be offered loans as part of your financial aid offer. A loan is money you borrow and must pay back with interest.
Consider financial aid and federal loans first:
- Several loan financing options exist both for students and parents of dependent students. Learn about federal loans and interest rates.
- If considering loan financing options, apply for financial aid by submitting your FAFSA.
- Students who do not qualify for need-based financial aid may still qualify for an Unsubsidized Stafford loan ranging from $5,500 for a first-year undergraduate student to $7,500 for a junior or senior. (Graduate and medical students may qualify for significantly higher loan amounts). View the Office of Federal Student Aid chart showing how much you can borrow annually in Stafford loans.
Loans for parents:
- The Federal Direct PLUS Loan is a loan for parents of a dependent undergraduate student to help pay for education expenses not covered by other financial aid.
- The FAFSA must be completed for a student if a parent wishes to borrow a Federal Direct PLUS loan.
- For more information on the Federal Direct PLUS loan and application process, visit the US Department of Education website.
Alternative loans for students:
- Alternative or private student educational loans are an option for dependent students whose parent is not pursuing the Federal Direct PLUS loan, or for independent students who need additional loans to supplement other financial assistance.
- Dependent students should consider the benefits of the Federal Direct PLUS loan before applying for an alternative loan.
- Since Federal loans are generally more attractive than alternative loans, we recommend students apply for financial aid and maximize their Federal loan borrowing before borrowing through alternative loans. Go to studentaid.ed.gov to view a chart showing a summary of the differences between Federal student loans and private loans.
Monthly Payment Plan
The University has contracted with Tuition Management Services (TMS) to administer a monthly payment plan.
- The monthly payment plan allows payment of tuition and fees, as well as university billed housing and meals, over a five-month period (July 1 to November 1 and December 1 to April 1).
- The payment plan can also be used to cover a portion of the student's total charges.
- The plan is available for a fee of $60 per semester.
- Contact TMS online or at 1-800-722-4867 to get started.
- Note: TMS does not have access to a student's bill. For assistance in figuring out how much to set your plan up for contact Student Financial Services. It is the student's responsibility to ensure that their bill is covered.
529 Plan Payments
Request distributions well in advance of the due date for on-time arrival.
- Distribution checks need to reference the student's name and UVM ID# (95#) Please send to: University of Vermont, P.O. Box 1306 Williston, VT 05495
Outside / External Private Scholarships
Students can find and apply for external scholarships, which can reduce the amount of loan borrowing.
- Learn more about outside scholarships
- For more information on UVM scholarships, visit the scholarship section on our site.
- Financial aid recipients must notify Student Financial Services if you receive any outside scholarships. These scholarships may affect other financial aid awarded to you.
- A student's bill can be deferred by the portion being covered by the outside scholarship if you make note of this assistance when responding to your bill, and provide our office with a copy of the award or notification letter.
Direct Payment Options
Payments may be made to UVM online, by check, credit card, or electronic check ACH.
- Payments by Mail: Personal, cashier, certified, money orders or traveler's checks may be mailed to: UVM, PO Box 1306, Williston, VT 05495. Checks should be made payable to UVM.
- Credit card: You may pay online using VISA, MasterCard, American Express, or Discover. Credit card payments are processed by NeINet, which will charge a 2.75% non-refundable service charge for all credit card payments.
- Electronic Check ACH: Payments must be made from a U.S. checking or basic savings account. There is no fee for this service. Students can access this option through myUVM. Proxy Payers: log-in here. Guest Payers: log-in here.
International Wire Transfer
UVM has partnered with Flywire to streamline the tuition and fee payment process for international students.
- Flywire offers multiple payment options and excellent foreign exchange rates. They'll ensure your payment arrives safely and accurately. To complete the payment process, connect to Flywire.
All of the Above
Many student and their families will use a combination of financial aid, financing options, and direct payment to cover their total charges. To avoid late payment fees and holds on the student account, it's important to communicate with our office on how you are planning to pay your bill, so that we can work with you on any missing pieces. Visit our billing page more information on the billing process at UVM.
Things to Consider
Does the student or parent have savings which are intended for educational expenses?
Using assets intended for education in the early years will remove the assets from future consideration in the determination of financial aid eligibility. Further, this may reduce the need for loans in the early years of a students education. Loans borrowed may accrue interest so, limiting the amount of loan borrowing in the early years may save money over the long-term.
Federal loans vs. home equity:
Families frequently consider private loan financing options, including home equity loans, and loans against retirement accounts in addition to Federal loan options like the Direct PLUS loan. While, our office cannot make specific recommendations, here are some things to consider:
- Apply for financial aid first. (Applying for aid will ensure you know all your options).
- Compare interest rates and fees.
- Consider the benefits of Federal debt.
- Federal loans (such as the Direct PLUS loan) may initially appear more expensive than private debt such as a home equity loan however, Federal loans have the following features which many private loans do not:
- Deferment options which allow you to suspend payments based on unemployment or economic hardship.
- Parent PLUS loan borrowers can defer payments until six months after the benefiting student graduates or ceases to be enrolled at least half-time.
- Federal loans are subject to cancelation if the borrower becomes permanently disabled or deceased.
- Parent PLUS loans are canceled in the event the benefit student becomes deceased.