2900 - Student Financial Aid
- Name: Randi Croyle
- Position: Financial Aid Director
- Email: firstname.lastname@example.org
Last updated: January 01, 2007
A. POLICY. The Office of Student Financial Aid is governed by the following general guidelines:
A-1. The primary purpose is to provide financial assistance to students who, without such aid, would not be able to enroll in, or continue in, the university.
A-2. Financial aid that is granted by UI is considered to be supplementary to the efforts of the student and the student's family, who are expected to bear as much as possible of the student's educational expense.
A-3. The total amount of financial assistance that UI offers a student cannot be greater than the difference between the student's total university expenses and the total resources available to the student from other sources.
A-4. Financial aid is generally not available to cover outstanding indebtedness or to acquire equities of any kind.
A-5. In the building of financial-aid packages, students are expected to assume a reasonable part of the total amount needed by accepting loans or employment, or both, in addition to outright grant and scholarship assistance.
A-6. University of Idaho scholarship funds are not awarded to students with grants, scholarships and other financial aid resources that in combination total more than the established cost of education. Funds awarded above the cost of education will be cancelled.
B. NEEDS ANALYSIS. The level of parental capability to assist the student with expenses at UI is established in as objective a manner as possible, and the services of two national agencies are used to assist in this analysis. Each student applying for the first time for any type of financial aid is required to file the Free Application for Federal Student Aid (FAFSA). An up-to-date FAFSA is required for each year after the first year, except from students applying only for scholarships where need is not a criterion.
C. STUDENT PART-TIME EMPLOYMENT. Funds from the College Work-Study and the Idaho State Work-Study Programs support a number of needy students with part-time employment. The UI Student Employment Program also assists students with placement in part-time jobs on campus. A job location program is available in the Office of Student Financial Aid Services to assist students in finding part-time jobs off campus.
D. SCHOLARSHIPS. Approximately 5500 students receive some type of UI scholarships. Merit-based scholarships are awarded to students who have strong academic records, while need-based scholarships require students to also demonstrate substantial financial need. There are three major sources of institutional scholarship funds:
D-1. The Consolidated Investment Trust which are under the management of the University’s Trust and Investment Office.
D-2. Annual contributions to UI are from well-established sources and the gifts generally continue from year to year.
D-3. Out-of-state and tuition reduction programs are available in limited number to non-resident students who have strong academic backgrounds and/or who are from underrepresented ethnic or social-economic populations.
E. FEDERAL AND STATE PROGRAMS OF STUDENT FINANCIAL AID. These include:
E-1. Pell Grants — Variable grants of federal funds to undergraduates without a bachelor’s degree who apply and who qualify on the basis of their FAFSA results.
E-2. Supplementary Educational Opportunity Grants — Special grants of federal funds to PELL eligible students who meet the FAFSA priority filing date.
E-3. Idaho State Scholarship Program — Scholarships are awarded annually to Idaho high-school students to attend any postsecondary educational institution in the state.
E-4. Leveraging Educational Assistance Partnership Program (LEAPP) Grants — State and federal funds to aid students with substantial need who meet priority filing date for FAFSA.
E-5. College Work-Study — Primarily federal, with some state, funding; used to provide part-time jobs for needy students who meet priority filing date for FAFSA.
E-6. Perkins Loans — These loans are federally funded loans available to students with demonstrated financial need.
E-7. Guaranteed Student Loans.
a. Ford Direct Subsidized Loans are guaranteed by the federal government and the borrowers enrolled at least half-time pay no interest until after six month grace period.
b. Ford Direct Unsubsidized Loans are guaranteed by the federal government. Interest begins at the time of disbursement and may be paid back on a quarterly basis by the student or deferred until the student is no longer enrolled (or their six month grace period is up).
c. Parent Loan for Undergraduate Student (PLUS). A federal loan available to parents of undergraduate, dependent students. They are also available to graduate students.
E-8. Officer Education Scholarships — Substantial scholarships and subsistence payments to students enrolled in the Officer Education Programs.
F. AVAILABILITY OF INFORMATION. Every applicant for admission to UI receives full information on available financial aid. High-school counselors are kept informed about financial-aid opportunities.
Amended January 2007. Added A6. Revised B, D, D-1, D-2, D-3, E-1, E-2, E-3, E-4, E-5, E-6, E-7a, E-7b, E-7c.
Amended July 1997. Revised B, D-2, E-7a, E-7b, E-7c.
Amended July 1989.