What You Need to Know About Your Financial Aid Budget
Your financial aid budget is a total of direct and indirect costs at UVM, based on residency and housing. It is not tailored to individual living expenses or choices. You can receive financial aid (loans, grants, scholarships, work study, etc.) up to the full cost of attendance.
How it Works When Living Off-Campus
Your financial aid offer is based on a total cost of attendance for living off-campus (as referenced above). If the financial aid accepted is more than the amount owed to UVM on your student account, this will result in a credit balance which will be refunded to you. Your refund will be in one payment, so it is important you budget this amount over the semester and breaks.
Financial Aid Appeals (Budget Increases):
The following are examples of financial aid appeals. Approved appeals generally entail an increase to your loans; increasing your debt.
If you have enrolled in the UVM Student Health Insurance Plan (SHIP), you may request an increase in your budget to assist with a portion of this fee (it will be prorated based on the academic year length). Once the premium has been billed to your student account, you can submit a request via email to increase your financial aid budget.
Student with Dependent Children
You may submit a request via email to SFS to increase your financial aid budget.
On a case-by-case basis, our office will consider an increase to your financial aid budget for the purchase of a personal computer.
The winter session is considered part of your spring semester in terms of charges and financial aid.
If you will have additional costs for the winter session (travel study, course fees, extra tuition charges, etc.), you will need to email SFS to request that your financial aid budget for spring be adjusted to incorporate these costs. Include the CRN(s) and/or course code(s) for your winter session courses in your email. Additional aid is generally in the form of a Parent PLUS loan or private education loan.
Our office offers the best award possible based on funding availability, information submitted on the FAFSA, and for prospective students, their academic history. UVM does not hold aside funds for award negotiation, or based on award offers received from another college or university. The FAFSA uses prior-prior tax year information to determine a student's financial aid eligibility. Our office understands that some families may experience significant financial changes from one year to the next. In these situations, our office may re-evaluate a financial aid award to more accurately reflect the current financial situation of the family.
We cannot consider:
- private primary or secondary school tuition (may be considered if attendance is by necessity rather than parental choice)
- high debt-to-income ratio (credit card, car loan, primary residence mortgage, education loans, personal debt, etc.)
- parent's college educational expenses or student loans
We may consider:
- loss of job or significant reduction in earnings
- death of a student's parent (or spouse for independent students)
- loss of child support
- one-time income (sale of primary residence, or one-time withdrawal from a retirement account)
- extraordinary out-of-pocket medical expenses (only if amount exceeds allowance already protected through the FAFSA)
If you wish to submit an appeal of special circumstances, please email SFS with detailed information so that our counselors can determine if your circumstance can be considered.
Please note, submission of an appeal does not guarantee that the circumstances presented will be taken into consideration. Additionally, not every legitimate appeal will result in increased aid eligibility. Once our office receives additional information for review, any discrepant information is updated, regardless of whether it may lower a student's aid eligibility.