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Student Financial Services

Financial Aid

The Free Application for Federal Student Aid (FAFSA) is the only financial aid application required by UVM. Submit the FAFSA online at www.fafsa.gov.

FAFSA filing priority deadlines:

  • February 10 for prospective undergraduate students for Fall 2014.
  • March 1 for returning undergraduates, transfer applicants, and all graduate and medical students.
View a detailed tutorial on filling out the FAFSA.

Learn about specific types of aid that may be available to you.

Financial Aid Application Deadlines

Fall 2014 (2014-2015 Academic Year) Deadlines:

To ensure consideration for all available sources of financial aid for the 2014-2015 school year, submit the FAFSA online after January 1, 2014 and before the date listed below that is applicable to you.

  • Prospective undergraduate students for Fall 2014: February 10, 2014
  • Returning undergraduate students: March 1, 2014
  • Graduate and medical students (new and returning): March 1, 2014
  • Transfer applicants for Fall 2014: March 1, 2014

Submitting your FAFSA after the priority deadline may limit financial aid eligibility and may result in a loss of eligibility for UVM need-based grant or scholarship assistance.

What if I (or my parents) do not file taxes before UVM’s financial aid application deadline?
If you (or your parents) do not file taxes before UVM’s financial aid application deadline, you may file your FAFSA using estimated figures. A FAFSA with estimated data will be considered on-time as long as it is submitted by the deadline. After the taxes are filed, you will need to return to www.fafsa.gov to update your FAFSA with the actual data using the IRS data retrieval tool. Please note that if a financial aid award is generated before the FAFSA has been updated with actual tax data, the award may need to be revised once the actual data is submitted and reviewed.

Currently Enrolled Students seeking Financial Aid:

If you are currently enrolled, did not previously submit a FAFSA, but would now like to be considered for financial aid for the 2013-2014 year, please submit a 2013-2014 FAFSA at www.fafsa.gov as soon as possible. Enter UVM’s school code, 003696, on your FAFSA, and we will receive your record within 3-5 business days of submission. Monitor your UVM email account for requests for further information and/or notification of your financial aid award.

Applying for Aid

 

Other Important Information

Financial Aid Timelines   Basic eligibility requirements for financial aid.
Getting Started   Settling your bill with financial aid.
Monitor and Complete Your Application   Financial Aid for Study Abroad Programs
Your Financial Aid Award   Federal Student Aid Guide
Complete Loan Requirements    
Accept and Finalize Your Aid    
Important Information for Graduate, Medical and CE Students    
Step 1: Review the Financial Aid Timeline
Step 2: Get Started!

fafsa

  • The Free Application for Federal Student Aid (FAFSA) is the only application UVM requires for undergraduate students to be considered for federal and University financial aid.
  • To be considered for all available funds, submit the FAFSA after January 1 and before our priority deadlines:
    • FAFSA priority deadline for prospective undergraduate students: February 10
    • FAFSA priority deadline for returning undergraduate students: March 1
    • FAFSA priority deadline for new & returning graduate and medical students: March 1
  • Submitting your FAFSA after the priority deadline may limit financial aid eligibility and may result in a loss of eligibility for UVM need-based grant or scholarship assistance.
  • Taxes not done yet? You may estimate your income on the FAFSA. Be sure to update your FAFSA using the IRS data retrieval tool once your taxes are complete.
  • After completing the FAFSA online, be sure to sign electronically with a PIN. Students and parents of dependent students must sign the FAFSA.
  • You’ll need UVM’s federal school code, 003696, to have your FAFSA sent to us.
  • If you need assistance completing the FAFSA, please refer to the “Completing the FAFSA” publication for the appropriate aid year or view the YouTube video “7 Easy Steps to the FAFSA.”
  • Additional applications may be required for state grants and/or private scholarships.
    • Vermont undergraduate and medical students should apply for a Vermont State Grant online at www.vsac.org.
    • Out-of-state residents should check with their state grant agency for information on available grants and how to apply.
  • Consider applying for external scholarships. Learn tips on searching for external scholarships.
Step 3: Monitor and Complete Your Application
  • Watch for your Student Aid Report (SAR): Once your FAFSA has been processed, you’ll receive your Student Aid Report (SAR) electronically if you filed online or by mail if you completed a paper FAFSA. Your SAR is a summary of the information reported on the FAFSA. Review your SAR for accuracy and review any messages. Make any necessary changes to your FAFSA information online.
  • Watch for requests for information: You may receive requests for additional information from UVM and/or from state grant agencies. Please provide requested information as promptly as possible. For returning students, financial aid cannot be awarded until all requested information has been received. Please do not send information unless requested to do so. Receipt of unsolicited information will delay processing of your financial aid award.
  • Monitor your application: If additional information is needed, students will be notified by e-mail. Check the status of your aid application.
  • Please note that information is not shared between UVM and other agencies, such as VSAC. If you receive requests for information from multiple sources, send the information requested to each agency.
Step 4: Your Financial Aid Award
  • When: If your FAFSA was filed by our priority deadline and you have provided requested information promptly, your financial aid award will be available no earlier than:
    • Late March for prospective students
    • Mid-June for returning students
  • Where: Your financial aid award will be posted online.
    • Prospective students will use the admissions login to view awards.
    • Active students (returning students and new students who have paid their enrollment fee) will login via the myUVM portal to view awards.
    • Prospective students who have filed a FAFSA but have not supplied all requested information will receive a tentative award notification in mid-April. A tentative award is based on the information reported on the FAFSA and will change once requested documentation is received and reviewed.
    • Review your financial aid award carefully. Pay close attention to:
      • What type of aid is available?
      • Any estimated or tentative awards. Know why they are estimated and any action you need to take to make the estimated award an actual award.
  • Comparing financial aid awards? Use our award comparison tool to help you determine which school would require the least amount of borrowing and/or out-of-pocket costs.
  • Action is required. You must accept or decline any loan and/or work-study award offers. The option to accept/decline your awards will not be available until May. You will receive an email notification when this option is available.
  • Report outside assistance: Financial assistance not listed on your award notice, including private scholarships, tuition remission, and employer tuition assistance, must be reported to UVM Student Financial Services. Report other financial assistance as soon as possible so we can provide you with the most accurate financial aid award. You may submit copies of documentation for the financial assistance (i.e. a letter that gives details about a scholarship you have been awarded). Review our Scholarship Reporting Information Form, found on our worksheet and forms page to find out what information needs to be reported.
Step 5: Completing Loan Promissory Notes, Entrance Counseling, and Other Requirements
  • Federal Stafford Loans
    • Master Promissory Note: If this is your first time borrowing Federal Stafford Loans at UVM, you will need to complete a Master Promissory Note online at www.studentloans.gov. You will need the PIN that you used to sign your FAFSA to login to this site; if you do not have it or need a new one, go to www.pin.ed.gov.
    • Entrance Counseling: If this is your first time borrowing Federal Stafford Loans at UVM, you will need to complete an online Loan entrance counseling session at www.studentloans.gov. You will need the PIN that you used to sign your FAFSA to login to this site; if you do not have it or need a new one, go to www.pin.ed.gov.
  • Federal Perkins Loan
    • Master Promissory Note: If this is your first time borrowing a Federal Perkins Loan at UVM, you will need to complete a Master Promissory Note. The Master Promissory Note will be made available through your student account (myUVM) after you have accepted the loan and before the beginning of the semester. When the Master Promissory Note is available, it will be added as a requirement on your student account, and you will receive notification of outstanding requirements via email.
    • Entrance Counseling: If this is your first time borrowing a Federal Perkins Loan at UVM, you will need to complete an online entrance counseling session at www.mappingyourfuture.org.
  • UVM Loans
    • Promissory Note: Each year that you borrow a UVM Loan (there are several different types), you will need to complete a Promissory Note. The Promissory Note will be made available through your student account (myUVM) after you have accepted the loan and before the beginning of the semester. When the Promissory Note is available, it will be added as a requirement on your student account, and you will receive notification of outstanding requirements via email.
  • Federal Graduate PLUS Loans
    • Entrance Counseling: If this is your first time borrowing a Federal Graduate PLUS Loan at UVM, you will need to complete an online Loan entrance counseling session at www.studentloans.gov. You will need the PIN that you used to sign your FAFSA to login to this site; if you do not have it or need a new one, go to www.pin.ed.gov.
    • Graduate PLUS Loan Credit Authorization Form: You will need to complete a Graduate PLUS Loan Credit Authorization Form each time you borrow a Graduate PLUS Loan. You can access this form on our Worksheets and Forms page. By signing and submitting this form you are authorizing UVM to send your loan request to the Department of Education for a credit review and processing.
    • Master Promissory Note: First-time borrowers of the Federal Graduate PLUS Loan at UVM are required to complete a Federal Graduate PLUS Loan Master Promissory Note online at www.studentloans.gov. You will need your Federal PIN to access this site. Go to www.pin.ed.gov to retrieve a forgotten PIN or request a new one.
  • Federal Parent PLUS Loans
    • Master Promissory Note: If the parent borrower has not borrowed a PLUS Loan for you previously at UVM, he/she will need to complete a Master Promissory Note online at www.studentloans.gov. The parent borrower will need a Federal PIN to login on this site (it is the same PIN used to sign your FAFSA, if this parent signed your FAFSA). To retrieve the PIN or request a new PIN, the parent borrower can go to www.pin.ed.gov.
    • Request for PLUS Loan (application): The parent borrower of a Federal Parent PLUS Loan must complete a Federal PLUS Loan Request (application) online at www.studentloans.gov and be approved to borrow the loan based on a credit review. The parent borrower will need a Federal PIN to login on this site (it is the same PIN used to sign your FAFSA, if this parent signed your FAFSA). To retrieve the PIN or request a new PIN, the parent borrower can go to www.pin.ed.gov.
  • Private/Alternative Student Loans
    • Requirements: Private/alternative student loans will require an application and credit approval (most require you to apply with a cosigner), completion of a Promissory Note, completion of a self-certification form, and possibly other requirements specific to your chosen loan and/or lender. Check with your lender to make sure you are aware of and understand all requirements.
Step 6: Accept and Finalize Your Awards

Action is generally required to accept the aid you have been offered. Students can accept/decline their aid offers beginning in late May. Notification will be sent to students with an offered financial aid award once the accept/decline options are activated. To accept your aid, log in to the myUVM portal and click on "Accept or Decline Your Award" in the Student Financial Services section. Please note that only active students can accept aid awards. Also, estimated or tentative financial aid awards cannot be accepted. Prospective students who receive an estimated/tentative financial aid award will not be able to accept/decline their award until all requested documentation has been submitted and reviewed, and the award made official.

The following information outlines additional actions needed to secure various award types.

  • UVM grants and scholarships (including UVM Award)
    • These are generally accepted automatically with no further action required.
  • VSAC grants
    • A separate application is required for VSAC grants (Vermont state grants). If your enrollment and grant amount have been verified prior to issuing your financial aid award, your VSAC grant will be included in the award as an "estimated" value. If your VSAC grant is not listed, you can contact VSAC to check the status. It will be incorporated into your award once your enrollment has been verified.
  • Federal Work Study
    • After accepting your Work Study award, watch your email for information on how to proceed with the process. The steps to finalize Work Study include the following:
      • Complete the Terms & Conditions for Federal Work Study in your student requirements.
      • Search for and secure a job using the online Work Study Job Database.
  • Federal Subsidized and/or Unsubsidized Stafford Loans
    • Complete requirements as listed above in Step 5 for this loan type. These items can be completed at any time, so you do not need to wait until you have accepted the loan(s) in your financial aid award.
  • Federal Perkins Loan
    • Deadline: You must accept your Perkins Loan and complete any required Promissory Note and/or Entrance Counseling requirements by October 1st or your Federal Perkins Loan will be canceled.
    • Complete requirements as listed above in Step 5 for this loan type. These items can be completed at any time, so you do not need to wait until you have accepted the loan(s) in your financial aid award.
  • Federal Parent PLUS Loan
    • Complete requirements as listed above in Step 5 for this loan type.
  • Federal Graduate PLUS Loan
    • Complete requirements as listed above in Step 5 for this loan type. These items can be completed at any time, so you do not need to wait until you have accepted the loan(s) in your financial aid award.
  • Alternative/Private Loans
    • We recommend that students and families consider borrowing through federal student and parent loan programs before considering private/alternative student loans.
    • Research alternative loan options and lenders, then contact the lender of your choice to apply.
    • Dependent students: If you are borrowing an alternative loan instead of the Federal Parent PLUS Loan, make sure you have declined your Federal Parent PLUS Loan offer in your online award.
Step 7: Consider Other Important Information
  • Graduate students: In addition to the FAFSA, you must submit the Graduate Student Data Form to Student Financial Services.
    • Prospective students will use the admissions login to access the form.
    • Active students (returning students and new students who have paid their enrollment fee) will login via the myUVM portal to access the form.
  • Medical students: The FAFSA will instruct you to provide information about yourself (and your spouse if applicable), and that is all that is required for federal financial aid consideration. However, you are strongly encouraged to report parent information on the FAFSA as well. Parental financial information must be reported on the FAFSA if you wish to be considered for the Primary Care Loan, Maine Access Loan, and University of Vermont need-based scholarships. Parental information will not be considered in determining your eligibility for federal funds (i.e. Stafford Loan), therefore providing the information will not negatively impact you. It will increase the types of aid for which you will be considered.
  • Continuing Education students: Federal and university financial aid funds are generally limited to degree seeking students. In some circumstances, continuing education students may qualify for limited Stafford and/or Parent PLUS Loan funds. Please review aid availability for your specific program type. Vermont CE students are also encouraged to contact VSAC to apply for a Vermont Non-Degree Grant.

 

Last modified March 11 2014 03:17 PM

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