SCHOLARSHIPS AND FINANCIAL AID GENERAL INFORMATION

The University of Arizona offers an outstanding array of private donor scholarships to the most talented and brightest students. Students may apply for consideration using the scholarship application form within the undergraduate admissions materials. Awards from over 1,500 different scholarship accounts provide more than $14 million annually on a competitive basis. Selection criteria vary and may include factors such as the student's proven academic excellence, talent, current major or degree program, leadership, and service record.

Students are encouraged to conduct their own search for nationwide scholarships, using printed or computer based scholarship search materials, available in libraries. On the campus, a "Fund Finder" automated database can be viewed in the Scholarship Office in Old Main, or printed materials are available in the Main Library. The extraordinary variety of awards require separate applications to the funding agencies and foundations that supply the scholarships themselves.

The University of Arizona provides access to a full range of federal, state, and privately donated financial aid funds to its students through the Office of Student Financial Aid (OSFA). Assistance is available to students based on financial need, academic merit, and program of study. The application process for financial aid begins with the completion of a need-based application for student financial aid. In addition, the University of Arizona Scholarship Application must be completed to apply for scholarships.

In 1994-95, the Office of Student Financial Aid administered $175 million in aid, which assisted 23,608 students at the University. Many awards are competitive, so early application is urged. Students should apply as soon as possible after January 1 of each year in which they expect to receive financial aid. The application forms are widely available from high school counselors, community colleges and the OSFA. If you are transferring from another institution and applying for financial aid, you must also submit a Financial Aid Transcript.

FEDERAL AID PROGRAMS

Federal aid programs comprise over 75 percent of the total aid available through The University of Arizona. For undergraduate students, the base of funding begins with the Federal Pell Grant Program. For graduate students, the Federal Stafford Loan usually is the first source of funding.

FEDERAL SUPPLEMENTAL EDUCATION OPPORTUNITY GRANTS-The Federal SEOG Program is a direct grant to undergraduate students demonstrating exceptional financial need. Eligibility is determined by the Office of Student Financial Aid.

FEDERAL COLLEGE WORK STUDY-The Federal College Work Study Program allows students to defray part of their cost of education through work experience. Many job placements are career related, offering both valuable experience and income to the student. The recipient may work up to 30 hours per week in an on-campus or off-campus placement.

FEDERAL PELL GRANTS-The Federal Pell Grant Program is funded by the federal government in order to provide primary access for students for their undergraduate degrees. Eligibility is established by the federal government and students are funded appropriately to their dependency status, living accommodations, and enrollment.

FEDERAL FAMILY EDUCATION LOANS-This Program is available to both graduates and undergraduates to meet educational expenses. Loans are made by local lending institutions, including banks, credit unions, and other financial institutions. The loans are federally insured for repayment and lenders are paid a subsidy on the interest rate as long as the student is enrolled in school. For the unsubsidized loan, interest begins to accrue immediately after the loan is made. Repayment begins six months after the borrower is no longer enrolled in school at least half time and continues over a five to ten year repayment period. Students must complete a need-based application form to determine eligibility.

FEDERAL PERKINS LOANS-The Federal Perkins Loan allows students to borrow for undergraduate or graduate education at five percent interest. The amount of the loan is determined on the basis of financial need and repayment begins six months after the borrower is no longer enrolled in school. Loan recipients are required to sign promissory notes agreeing to honor the terms and conditions of their loans. Various deferment provisions for community service, unemployment, or economic hardship are available.

PARENT LOANS FOR STUDENTS-The federal PLUS program is available to undergraduate students. The interest rate (capped at 9%) is variable and begins 60 days after the loan is taken. Students whose families show no financial need can participate in these programs. A separate application is required.

The loans listed in this section can be considered for consolidation into a single repayment by qualified agencies. Contact OSFA for details.

INSTITUTIONAL STUDENT AID

Various departments on campus employ students in non-work-study positions to perform a variety of functions. The employing department decides on the selection of the student. Student financial aid recipients must be aware that institutional earnings from all sources are required to be reported to the Office of Student Financial Aid. In limited circumstances, students' financial aid packages may require adjustment in order to coordinate the earnings with other aid offers.

SHORT-TERM LOANS-The short-term loan program is intended to assist students with short-term funding problems or emergencies. The loans must be repaid within the semester or session borrowed. The loans are usually for a period of 45 days or until the last day of class, which ever comes first. At the start of a semester the period is usually shortened to provide maximum assistance. Deferments are provided during the fall and spring semesters for those students whose need has been determined but aid has not arrived.

All students are encouraged to apply for financial aid, regardless of their parents' financial status. The broad range of financial aid resources available to the Office of Student Financial Aid provides access on a variety of levels. Students who do not have financial need may still qualify for academic scholarships, temporary loans, or other programs. Therefore, please feel free to contact the Office of Student Financial Aid for further information at (520) 621-1858.