Upper Iowa University Financial Aid Disclosure Statement

The 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). A parent of a dependent student (contributor) must also apply for an FSA ID to electronically sign their student’s 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.

The Upper Iowa University Financial Aid Office understands that families can experience hardships or changes which may not be reflected on the FAFSA. This may affect a student or their family’s ability to contribute towards their educational expenses. Federal regulations allow financial aid administrators to make adjustments for certain types of situations such as job loss, unexpected life events (death, divorce/separation) or other unusual circumstances that are not readily apparent on the FAFSA. For information on how to file an appeal, please contact our office at 800-553-4150.

Some sources of federal aid require financial need. The data included on the FAFSA enables the U.S. Department of Education to calculate a Student Aid Index (SAI). 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 offer information is sent via email notification to a student’s UIU Peacock email address and a personal email, if one is on file. The aid offer lists the sources of financial aid available to the student to help meet the cost of education for the current academic year. Aid Offers are based on a number of factors including income and asset data from the FAFSA. Offers 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 eligibility is based on several factors, including the number of credit hours in which a student is enrolled for each semester. Enrollment status determines the amount 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 requires Upper Iowa University to certify that information reported on your (FAFSA) application is accurate. Each year the U. S. Department of Education selects a group of applications for this process. Documents required to complete the review include but are not limited to: Standard Verification Worksheet, Federal Tax Return or IRS Transcript, Statement of Non-Filing Tax Status 4506T, Federal Tax Schedules and/or W2 forms. The UIU Financial Aid Office may also require 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.

A student’s eligibility for financial aid is contingent upon the student earning Satisfactory Academic Progress.

View Full Satisfactory Academic Progress Details

Upper Iowa University has partnered with Bank Mobile to process credit balance refunds/overpayments. Disbursements will be requested by the UIU Financial Aid Office during the third week of the session for eligible students. Once the disbursement has been credited to the student’s account, the UIU Business Office has up to 14 business days to refund any overage/overpayment to the student in the method (Bank Mobile, direct deposit, paper check) that the student has selected.

Book vouchers are an advance of a student’s financial aid. They are provided through Barnes & Noble College (BNC Services) to students who qualify for the Federal Pell grant or are eligible for a refund/overpayment (through their financial aid eligibility). In order to use the Book Charge ID code option students will need to use this vendor. Eligible students are sent an email for each session of enrollment with instructions on how to purchase. However, students are not required to use BNC Services to purchase textbooks and can use any supplier of their choice or pay for textbooks out of pocket. Students can also opt out of using the book voucher.

Federal Pell Grant

The U.S. Department of Education determines eligibility and award amounts annually for this federal 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 qualify for this grant.

Federal Work-Study

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, 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 UIU’s Handshake job board 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 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 with our off-campus partners and at 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 or higher to receive this grant. Eligible Teach Grant recipients may receive up to a lifetime maximum of $16,000 as an undergraduate student and up to $8000 for graduate study. Part-time students may qualify, but the maximum grant will be pro-rated based on enrollment status. If students do not fulfill the teaching requirement criteria, 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 Entrance Counseling, sign the Teach Grant Agreement to Serve or Repay 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 upon graduation, ceasing enrollment, or changing their major to a non-educational field.

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.

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. The government retains an origination/processing fee. The amount disbursed to the student’s account is minus this fee. Fees and interest rates are subject to change each fiscal year. Loan eligibility is determined by financial need, dependency status, grade level and hours towards degree. The annual limit is the maximum amount a student may receive in an award year. Learn more about origination fees.

The maximum amount a student can borrow as an undergraduate is $57,500, and $138,500 for graduate studies.

Master Promissory Note (MPN), Federal Borrower Entrance and Exit Counseling

If you are a first-time borrower of Direct Loans you will need to complete an MPN. 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 a period of multiple academic years.

New borrowers of Direct Loans also need to complete Entrance Counseling using their 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 an 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. Exit counseling will educate you on the repayment process and allow you to learn about the various repayment options you have as a student borrower.

Annual Loan Limits and Disbursement Dates

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, 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 UIU’s Handshake job board 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 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 with our off-campus partners and at center/satellite sites as well.

Federal Direct PLUS Loans

The federal direct PLUS loan is a loan that parents of dependent students can apply for to help assist in paying for their student’s educational expenses (certain eligibility requirements must be 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 requirements.
• Parent agrees to repay the Federal direct PLUS loan.
• Parents may borrow up to the cost of attendance minus other financial aid received.
• Interest rate is fixed and is charged from the date of the first disbursement until the loan is paid in full.
• Origination fees are deducted each time a disbursement is made.

Private Educational/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

Iowa Tuition Grant

A state grant available to eligible Iowa residents pursuing a college degree at a private institution. This grant is offered to eligible students from low and middle-income families who show financial need and are degree seeking. The Iowa Tuition Grant amount is determined annually by the state and is based on the credit hours per semester/session a student is enrolled in. Award amounts are 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. This is a need-based grant for first-time college freshman who plan to enroll for at least 10.5 credits in a program leading to an undergraduate degree, diploma or certificate. Students must have graduated from an eligible Iowa high school or completed a high school equivalency diploma within the last two years.

Gear UP Iowa

The U.S. Department of Education determines eligibility and award amounts annually for this federal 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.

Education and Training Voucher (ETV)

The Karen Misjak GEAR UP Iowa Scholarship (Gaining Early Awareness and Readiness for Undergraduate Program) provides awards to students who are a part of the GEAR UP Iowa state-wide cohort. Funds are sent directly to the college/university that the student is attending and can be used to pay for tuition/fees/room/board/books/supplies and personal living expenses while in college.

Iowa National Guard Educational Assistance Program (NGEAP)

The Iowa National Guard Educational Assistance Program provides funding to eligible service members of the Iowa National Guard to help offset the cost of attending Iowa colleges and universities.

Future Ready Grant

The Future Ready Iowa Grant was designed for Iowa students who are pursuing high need professions and are 25 and over. Eligible students must be enrolled at least part time in a bachelor’s degree program at a qualifying school. Recipients must be continuously enrolled to remain eligible. First time applicants must submit both the FAFSA and the Iowa Financial Aid Application Renewal applicants need only submit the FAFSA. Applications are funded in date received order. Funding eligibility is determined by the Iowa College Student Aid Commission.

Eligible Upper Iowa University programs can be found on educate.iowa.gov.

Merit Scholarships

UIU awards merit scholarships to students attending the Fayette campus that range from $500-$5500 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 Fayette Transfer Scholarship.

Phi Theta Kappa Scholarship

This scholarship is available to Fayette campus students with a minimum cumulative transfer GPA of 3.5 and 30 completed hours towards degree. Students must be members of Phi Theta Kappa and must provide proof of membership.

Legacy Scholarship

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.

Special UIU Grant

This grant is made available to Fayette campus 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.

Iowa Strong Grant

This grant is available to eligible Iowa residents who qualify for the Iowa Tuition Grant. Funding is limited.

Scholarship Day Scholarship

This scholarship is given to Fayette campus students who are accepted for admission to UIU. Students are selected by faculty based on various criteria. This scholarship applies towards a student’s cost of attendance.

Athletic Scholarships

This scholarship is made available to Fayette campus students who show promise in athletics. The amount of the scholarship is determined by the coach of the specific sports program.

International Scholarships

This scholarship is awarded to Fayette campus students who are from another country and not otherwise eligible for federal financial aid. The amount of the scholarship is determined by the student’s GPA.

Peacock Promise Scholarship

This scholarship is awarded to Fayette campus students who are Iowa Residents and qualify for the Iowa Tuition Grant. Eligibility for funding is based on financial need as determined by the FAFSA SAI. Tuition costs will be met for the student between federal, state and institutional aid. Recipients of this scholarship must agree to live on the Fayette campus.

UIU Dollars for Scholars Match

Fayette campus 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.

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.

Transfer Connection Scholarship

This scholarship is for new center and online students who have earned their associate degree or have earned credit from an Upper Iowa University partner school.

Alumni Referral Award

Alumni students who refer students to Upper Iowa University may earn an award of up to $4000 to be applied to the new student’s tuition. The award would be made in the name of the alumni who made the referral.

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 MY UIU 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 offer 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.