Upper Iowa University Financial Aid Disclosure Statement
Information pertaining to all aid at Upper Iowa University
Frequently Asked Questions
The Free Application for Federal Student Aid (FAFSA) must be completed annually to determine eligibility for federal student aid. Electronic Signatures can be applied using your Federal Student Aid ID (FSA ID) You may access FAFSA on the Web and get your FSA ID by accessing links at https://studentaid.gov/. A parent of a dependent student must also apply for an FSA ID so that they can electronically sign the FAFSA. Upper Iowa University’s federal school code to list on the FAFSA is: 001893.
The cost of attendance (COA) as defined by federal student aid regulations, includes both direct costs (charged by UIU) and indirect costs (incurred during the period of attendance). The COA includes tuition and fees, books and supplies, room and board, transportation and personal expenses.
Some sources of federal aid require financial need. The data included on the FAFSA enables the U.S. Department of Education to calculate an Estimated Family Contribution (EFC). This value is subtracted from the cost of attendance to determine student financial need. Eligibility for need-based aid (e.g., Pell Grant, FSEOG, Federal Direct Subsidized loans) is based on this value.
Financial Aid award information is sent via email notification to a student’s UIU Peacock email address and a personal email if one is on file. The award letter lists the sources of financial aid available to the student to help meet the cost of education for the current award year. Awards are based on a number of factors including income and asset data from the FAFSA. Awards are made assuming full-time enrollment and are adjusted as needed throughout the course of the academic year for less than full- time enrollment.
Financial Aid is based on several factors, including the number of credit hours in which a student is enrolled each semester. Enrollment status determines both the amount and type of aid for which a student is eligible. Enrollment status per semester is calculated as follows: Full Time: 12 or more credit hours per semester, Three-Quarter Time: 9-11 credit hours per semester, Half-Time: 6-8 credit hours per semester, Less than half-time: 5 or less credit hours. Financial Aid may be pro-rated or eliminated for less than full-time attendance.
Verification is a process which authorizes Upper Iowa University to certify that all the information reported on your application (FAFSA) is correct. Each year the U. S. Department of Education selects a group of applications for this process. Documents required to complete the process include, but are not limited to: Verification Worksheet, federal tax transcripts, Statement of Non-Filing Tax Status 4506T, and or W2 forms. The UIU Financial Aid Office may also request additional documentation from a family if clarification or documentation of a situation is required. Documents should be submitted as soon as they are requested, to avoid processing delays.
2022-2023 Disbursement Dates
|Fall Session 1||09/12/2022|
|Fall Session 2||11/07/2022|
|Spring Session 1||01/23/2023|
|Spring Session 2||03/27/2023|
|Summer Session 1||05/29/2023|
|Summer Session 2||07/24/2023|
A student’s eligibility for financial aid is contingent upon the student making satisfactory academic progress as outlined in the Academic Catalog, on our policies page and on the Financial Aid website. If a student fails to maintain satisfactory academic progress, financial aid eligibility will be suspended until it is attained. Students placed on Financial Aid Warning may be eligible to receive financial aid for one session while on a warning status. Students who fail to maintain Satisfactory Academic Progress may file an appeal. The SAP committee will review appeals and decide if there is an extenuating circumstance that caused the student to not meet SAP. If approved, the student is placed on Financial Aid Probation for one session. If the SAP standards are met during the session, the status will reset back to passing SAP, making the student eligible for financial aid again. If the student does not meet the standards, he or she will be placed on Financial Aid Suspension and will no longer be eligible to receive financial aid. Students who are suspended may enroll in courses at their own expense to attempt to achieve Satisfactory Academic Progress to regain eligibility for aid.
Upper Iowa University delivers your refund with BankMobile Disbursements, a technology solution, powered by BMTX, Inc. Visit this link for more information. Disbursements will be requested by the UIU Financial Aid Office during the third week of the semester for eligible students. Once the disbursement has been credited to the student’s account in the UIU Business Office, that department will have up to 14 business days to refund any overage/overpayment to the student through their selected refund preference with BankMobile Disbursements.
To view our third-party servicer contract for refund management, click here.
Book vouchers are provided through MBS Direct to students who are Pell eligible or are eligible for a refund/overpayment through their financial aid. Eligible students are sent a Book Charge ID (each session of enrollment) with instructions on how to use it. In order to use the Book Charge ID code option students will need to use this vendor. However, students are not required to use MBS and can purchase their books from any supplier. Students can also opt out of using the book voucher all together should they choose to do so.
Federal Pell Grant
The federal government determines eligibility and award amounts for this grant. Pell Grants are considered to be “gift aid” and do not have to be repaid. The Pell grant is disbursed by the semester for Fayette campus students, by the session for center and online students and at the completion of the first set of classes for self-paced degree plan students.
Federal Supplemental Educational Opportunity Grant (FSEOG)
A federal grant made available to UIU students on a first come-first serve basis. Funds are awarded to eligible students until the yearly allocation is spent. Students must have a 0 EFC, as determined by the FAFSA, and must be Pell grant eligible, in order to receive this award.
This federal program is designed to let students work part-time and earn money for their educational expenses. Eligible students must have financial need, as determined by the FAFSA form, and are awarded on a first-come first serve basis until the yearly allocation is spent. Students are paid monthly based on the amount of hours worked. Available jobs are posted on the Peacock Career Network and include opportunities both on and off campus. There are also several Community Service employers who partner with UIU to offer positions. Students must apply and interview with the department they would like to work for. Federal Work-Study funds are not applied directly to a student’s bill as there is no guarantee the student will work the awarded hours. Federal Work-Study students may work up to 20 hours per week during the regular academic year. Federal Work-Study jobs are primarily located on the Fayette campus, however some positions are available on our center/satellite sites as well.
Federal Teach Grant
A federal grant available for eligible students pursuing an undergraduate degree in education, or graduate degree in the Masters of Education program. Eligible students must maintain a cumulative 3.25 GPA to receive and maintain eligibility. Students may receive up to a lifetime maximum of $16,000 for undergraduate study and up to $8000 for graduate study. Part-time students are eligible, but the maximum grant will be pro-rated based on enrollment status. If students do not fulfill the stated teaching requirements, the grant will be converted to an unsubsidized loan. Eligible students must agree to teach in designated shortage fields. Students who receive the Federal Teach Grant will complete the Teach Grant Counseling, sign the Teach Grant Agreement to Serve and complete the UIU Teach Grant Application and Entrance Counseling. Students who are recipients of this grant should complete the Federal Teach Grant Exit Counseling at: https://studentaid.gov upon graduation, ceasing enrollment, or changing their major to a non-education field.
Federal Direct Student Loan
The federal direct student loan is offered to eligible students and must be repaid. Recipients of Federal Direct Loans must be enrolled at least half-time (6 credits towards degree in a semester). The Federal government is the lender in the program. There are two types of loans students can receive:
- Federal Direct Subsidized Loan: A need-based loan that the government pays the interest on while a student is attending college.
- Federal Direct Unsubsidized Loan: A non-need based loan that accrues interest while the student is attending college.
Federal direct student loan proceeds are disbursed the third week of the semester or session depending on which location a student attends. The government retains an origination fee. The amount disbursed to the student’s account is minus this fee. Fees and interest rates are subject to change. Loan amounts awarded are determined by dependency status, grade level and hours towards degree. The annual limit is the maximum amount a student may receive in an award year. Information regarding origination fees can be found at this website: https://studentaid.gov The maximum amount a student can borrow as an undergraduate is $57,500, and $138,500 for graduate studies.
Children of Fallen Heroes Scholarship (CFH)
Federal scholarship for Pell eligible students whose parent or guardian died in the line of duty while performing as a public safety officer* Eligible students must qualify for the Federal Pell Grant, be less than 24 years of age or enrolled at an institution of higher education at the time of a parent or guardian’s death. The award is the maximum annual amount of the Pell grant. Students must apply annually. *For information on eligibility for this scholarship, please contact the UIU Financial Aid Office.
Master Promissory Note, Entrance and Exit Counseling
If you are a first-time borrower of Direct Loans you will need to complete a Direct Loan Master Promissory Note (MPN) at https://studentaid.gov using your FSA ID. The MPN is a legal document in which you promise to repay your loans and any accrued interest and fees to the U.S. Department of Education. The MPN explains the terms and conditions of your loan and is used for loans that you receive over a period of multiple academic years. New borrowers of Direct Loans also need to complete Entrance Counseling at: https://studentaid.gov using the FSA ID. This process helps you to understand your rights and responsibilities as a Direct Loan borrower. If you have borrowed Direct Loans at UIU in previous years, you have already completed both of these requirements. However new students who may have borrowed Direct Loans while attending another institution will still need to complete MPN and Entrance Counseling before receiving loans at UIU. Students who graduate, drop to a less than half time status, or stop attending will enter a 6 month grace period and at the end of that time frame will enter repayment. Students who have borrowed federal loans must complete Borrower Exit Counseling at this website: https://studentaid.gov Exit counseling will educate you on the repayment process and allow you to learn about the various options you have as a student borrower. For more information on repayment plans visit this website: https://studentaid.ed.gov/sa/repay-loans/understand/plans#direct-and-ffel
Annual loan limits and UIU disbursement dates are in the charts below:
|GRADE LEVEL/||DEPENDENT ANNUAL LIMITS||INDEPENDENT ANNUAL LIMITS|
|FRESHMAN: 0-29 CREDITS||$5500 (MAX $3500 SUBSIDIZED)||$9500 (MAX $3500 SUBSIDIZED|
|SOPHOMORE: 30-59 CREDITS||$6500 (MAX $4500 SUBSIDIZED)||$10,500 (MAX $4500 SUBSIDIZED|
|JUNIOR/SENIOR: 60+ CREDITS||$7500 (MAX $5500 SUBSIDIZED)||$12,500 (MAX $5500 SUBSIDIZED|
2020-2021 Disbursement Dates
|Fall Session 1||9/14/2020|
|Fall Session 2||11/9/2020|
|Spring Session 3||1/25/2021|
|Spring Session 4||3/29/2021|
|Summer Session 5||5/31/2021|
|Summer Session 6||7/26/2021|
Disbursements will be requested by the UIU Financial Aid Office during the third week of the semester for eligible students. Once the disbursement has been credited to the student’s account in the UIU Business Office, that department will have up to 14 days to refund any overage/overpayment to the student in the method (Bank Mobile, direct deposit, paper check) that the student has selected.
Federal Direct PLUS Loans
The federal direct PLUS loan is a loan that parents of dependent students can apply for to help pay for their student’s education, as long as certain eligibility requirements are met:
- The student for whom the parent is borrowing the PLUS loan must have filed a FAFSA
- The parent borrower must be the student’s biological adoptive, or step-parent.
- The student must be a dependent student who is enrolled at least half-time.
- The parent borrower must not have adverse credit history. If the parent does not pass the credit check, the parent may still be able to borrow the loan if someone agrees to endorse the loan. The endorser promises to repay the loan if the parent borrower fails to do so.
- The student and parent must be U.S. citizens or eligible noncitizens, must not be in default on any federal education loan, or owe an overpayment on a federal educational grant, and must meet general eligibility.
Federal direct PLUS loans are loans and must be repaid.
Iowa Tuition Grant
A state grant available to eligible Iowa residents pursuing a college degree at a private institution. This grant is awarded to students from low and middle income families who show financial need and are degree seeking. The Iowa Tuition grant award amount is based on the amount of credit hours per semester a student is enrolled in. The annual amount is determined by the Iowa Legislature and can be increased or decreased depending on availability of funds.
All Iowa Opportunity Foster Care Grant
A state grant for eligible Iowa students who have aged out of Iowa’s foster care system or State Training School.
Gear UP Iowa
The Gaining Early Awareness and Readiness for Undergraduate Program (GEAR UP) Iowa is a grant for low-income and underrepresented students who are prepared to enter and succeed in college.
Education and Training Voucher
This is federally funded program to provide college students education and training opportunities who are currently or who have been in foster care. Recipients must make satisfactory academic progress to receive awards.
Future Ready Grant
A state grant available to eligible Iowa residents pursuing a college degree. Student must be a resident of Iowa and have at least half of the credits completed towards a bachelor’s degree in a program of study aligned with a statewide high-demand job. The annual amount is determined by the Iowa Legislature and can be increased or decreased depending on availability of funds.
Iowa National Guard Educational Assistance Program
The Iowa National Guard Educational Assistance Program (NGEAP) provides funds for eligible members of the Iowa National Guard to help with the cost of attending Iowa colleges and universities.
Private Education/Alternative Loans
These loans are offered through private banks and lenders. Students who have remaining financial need can apply for this type of private funding. Terms and conditions vary depending on the lender selected. UIU does not make any recommendations on lenders a student should select.
UIU awards institutional aid to students who attend the main Fayette campus, in Fayette, Iowa.
UIU awards merit scholarships to students that range from $8,500-$19,250 based on ACT scores, high school completion GPA and transfer credits. These scholarships are renewable for up to five years for freshman and three years for transfer students and are not based on financial need. Examples of merit scholarships include: Trustee Scholarship, Presidential Scholarship, Dean’s Scholarship, Achievement Scholarship, Alexander Scholarship, Mott Scholarship, Albright Scholarship, Education Completion Scholarship, and the In-state Transfer Scholarship.
Phi Theta Kappa Scholarship
This scholarship is available to students with a minimum of 3.5 cumulative transfer GPA and 30 completed hours towards degree. Students must be members of Phi Theta Kappa and must provide proof of membership.
This scholarship is available to dependents of previous graduates of Upper Iowa University. Students must be enrolled full-time to qualify. This grant will apply to children including adopted or legal step-children and will not exclude those children who are independent of the family due to marriage or age.
The UIU Department of STEM and the School of Science and Mathematics have developed external grants in which eligible students majoring in science, technology, engineering and mathematics may receive additional financial support. Information on how to apply for this grant can be found here:
Special UIU Grant
This grant is made available to students who show strong academic promise, are capable of doing satisfactory college-level work, and have financial need, as determined by the FAFSA form. The amount of remaining financial need will determine the amount of the award. To be eligible, students must be admitted to UIU as a regular, full-time student and apply for financial assistance.
This scholarship is made available to students who show promise in athletics. The amount of the scholarship is determined by the coach of the specific program.
This scholarship is awarded to students who are from another country and not otherwise eligible for federal financial aid. The amount of the scholarship is determined by the Center for International Education (CIE).
Pritzker Access Scholarship
This scholarship is awarded to students who are undocumented citizens of the United States. There is a third party organization that pays a portion of the scholarship on behalf of the student and Upper Iowa University also contributes towards it.
UIU Dollars for Scholars Match
Students who receive private Dollars for Scholars scholarships from their High School may qualify for the Upper Iowa University Dollars for Scholars Match. UIU will match up to $250. Proof of eligibility is required.
This scholarship is available for students who are in the UIU Choir. Recipients are selected by the Choir Director as is the amount of the scholarship.
Honors and Awards Scholarships
These scholarships are awarded to current and enrolled students based on certain donor criteria. The Honors and Awards Committee selects the recipients for each scholarship annually.
All information submitted in support of a financial aid application is considered to be confidential. In compliance with the Family Educational Rights and Privacy Act (FERPA), a written release to discuss aid application information with anyone other than the student is required. A FERPA form is available for completion on the myUIU Portal.
Upper Iowa University awards financial aid based on the information provided on the various financial aid forms and documents collected. If a student or parent knowingly and deliberately provides false information which misrepresents the family’s financial situation, the aid award may be withdrawn. Upper Iowa University may also report the student to the U.S. Department of Education, Office of Inspector General.
*The Annual Disclosure Notification is available in paper form upon request.