Prospective

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Financing Your Education

There are a variety of options available to help you cover the cost of your UConn education. The information below will summarize UConn’s financial aid process, outline your estimated University expenses, and walk you through the different forms of financial assistance that may be available to you.

A copy of the Fall 2011 Open House Financial Aid presentation is available here.




Financial Aid at a Glance

To help cover your education expenses, a combination of funds from several different sources generally will comprise your financial aid package. Financial assistance may be provided in the form of:

  • Loans – Based on financial need; must be repaid with interest
  • Grants – Based on financial need; are not repaid
  • Student employment – Part-time employment can help students meet higher education expenses
  • Merit scholarships – Based on academic achievement and demonstrated leadership ability; are not repaid
  • Other scholarships – May or may not be based on financial need; may be offered by the University or an external organization</span>

The following sections provide an overview of the types of aid that may be awarded by UConn.

Federal Education Loans

Typically awarded based on financial need, federal education loans are low-interest loans that must be repaid with interest. To be considered, you must complete the Free Application for Federal Student Aid (FAFSA). Some of the most common federal education loans available at UConn include:

  • Federal Direct Stafford Loans (FDSL)* – Offered to students attending UConn at least half-time. Your established financial need and the cost of attendance determine your loan eligibility. “Subsidized” FDSL eligibility – where the government pays the interest during your time in school – is based on financial need. If you do not qualify for a subsidized FDSL, you may be eligible to borrow an “unsubsidized” FDSL. In this case, you are responsible for the interest that accrues on the loan, and you have the option either to pay the interest while in school or defer payment of the interest until principal payments begin six months after leaving the University.
  • Federal Perkins Loans – Offered to eligible students with exceptional financial need. UConn gives priority to students who qualify for lower annual loan limits under the Federal Direct Stafford Loan program.
  • Federal Direct PLUS Loans for Parents * – Enable parents with no adverse credit history to borrow for each dependent child enrolled at least half-time at UConn. The yearly loan limit is your cost of education minus any financial aid you receive. If a parent is denied a Federal Direct PLUS Loan due to adverse credit history (documentation is required each academic year), the dependent student would then be eligible to receive an additional unsubsidized FDSL.

* Federal Direct Stafford Loans and Direct PLUS loans are subject to certain fees.

Grants

Grant awards are based on financial need and are not repaid. You must complete the FAFSA to be considered for grant awards. A few of the primary grant programs include:

  • Tuition Remission Grants – Offered to eligible full-time undergraduates pursuing their first undergraduate degree, and to full-time graduate students. These funds are limited and are awarded on a first come, first-served basis.
  • University Grants – Offered to eligible full-time students pursuing their first undergraduate degree. These funds are limited and are awarded on a first-come, first-served basis.
  • Federal Pell Grants – Offered to eligible students with exceptional financial need who are pursuing their first undergraduate degree.
  • Federal Supplemental Educational Opportunity Grants – Offered to eligible full-time students with exceptional financial need (also typically Pell Grant recipients) who are pursuing their first undergraduate degree. These funds are limited and are awarded on a first-come, first-served basis.

Student Employment

The University of Connecticut employs more than 5,500 students each year in a variety of University departments to help students meet higher education expenses. Part-time jobs are available on campus, and they often have flexible hours that allow you to work around your class schedule. There are two types of part-time job opportunities:

  • Federal Work-Study (FWS) is a federally funded program for students who demonstrate financial need. Students are responsible for securing federal work-study jobs. Unlike other forms of financial aid, an FWS award is not applied to a student’s fee bill. Instead, students will receive a biweekly paycheck for hours worked to spend on educational expenses. Your financial aid award package, available via the Student Administration System, www.studentadmin.uconn.edu, will indicate whether you have been offered a Federal Work-Study award and the amount of the award.
  • Student Labor is a paid work program offering part-time temporary positions to UConn students, regardless of financial aid eligibility.

For more information, visit studentjobs.uconn.edu.

UConn Scholarships

Your academic accomplishments may qualify you for one of UConn’s many scholarships. When you apply for admission to the University, you are automatically considered for a number of scholarships. In most cases, no additional application is required. These scholarships are awarded to students based on a combination of factors, including grade point average, SAT/ACT scores, class rank, leadership skills, and extracurricular involvement. Scholarships are only available to U.S. citizens and individuals with permanent resident cards. For more specific scholarship information, visit admissions.uconn.edu/scholarships.

Additional Financing Opportunities

In addition to the various options that UConn offers to help you pay for your college education, other financing opportunities are readily available. Local sources such as civic, community, and fraternal organizations often offer scholarships and other forms of financial assistance. Contact these organizations directly if you or your relatives are members. School counselors also may be aware of funds available in your area. Public libraries also may provide useful information. Many employers offer workplace scholarships, financially supporting the higher education of children of employees. Scholarships are often linked to academic performance or some form of scholastic competition. Parents should contact the human resources office in their place of employment for more information. Finally, don’t forget to search online to find additional information about other sources of financial aid.

Generally, a combination of funds from these different sources comprises a financial aid package. Financial aid packages are revised annually and may not meet your full financial need. Many students work summers or seek other funding opportunities to meet remaining financial need.

Did You Know?

The U.S. Department of Education reports that students who work part-time remain in school at a rate significantly higher than non-working students. At UConn’s main campus in Storrs, five regional campuses and four professional schools, the University employs one out of every four enrolled students.


How Is Financial Aid Determined?

Financial Need
Financial need is the difference between UConn's budget (estimated cost of attendance) and your expected family contribution:
Cost of attendance
- your expected family contribution
= financial need


Anticipated University Expenses
There are a variety of expenses related to your educational experience. Our calculation of a student’s financial aid package includes:

Direct Expenses (tuition and fees) AND
Indirect Expenses (books, travel and miscellaneous items).

Depending on where you live while attending UConn, room and board may be either a direct expense, if you live on campus, or an indirect expense if you live off campus or at home.

Expected Family Contribution (EFC)
You and your parent(s) (if you are a dependent) are primarily responsible for paying your higher education expenses. Your financial need is defined as the difference between higher education expenses and what you and your parent(s) are reasonably expected to contribute toward education expenses. This contribution – called EFC – is determined by using a methodology developed by the U.S. Department of Education.
Eligibility Requirements
To receive financial aid, students must be accepted into a degree-granting program at UConn, and must meet general eligibility requirements, enrollment status requirements, and satisfactory academic progress guidelines.


How Do You Apply for Financial Aid?

September - October 2011
• Begin searching for scholarships.

All students are encouraged to contact local civic organizations, religious affiliations, high school guidance offices, and libraries for possible scholarship opportunities. Click here for a list of scholarship websites. Information about University of Connecticut Merit Scholarships is also available.

November - December 2011
• Begin collecting the documents needed to complete the Free Application for Federal Student Aid (FAFSA), including income tax returns and W-2 forms (and other records of income). A full list of what you need is available at http://www.fafsa.ed.gov.

• If you are planning to apply for financial aid, it is imperative that you provide a valid Social Security Number during the admission process. This will help to ensure the timely processing of your FAFSA.

• Students, as well as parents of dependent students, must have a Personal Identification Number (PIN) in order to sign the FAFSA electronically. Go to http://www.pin.ed.gov to apply for a PIN for you and/or your parent.

• Priority consideration for merit-based scholarships is given to those who submit a University of Connecticut application for admission prior to December 1.

January - February 2012
• If you and/or your parent have not received your Personal Identification Number (PIN) by January 1, please go to http://www.pin.ed.gov to request one.
REMINDER: Parents of dependent students must also have a PIN to electronically sign the FAFSA.

• The FAFSA cannot be submitted until after January 1 of the year you will be entering college. Students entering in the 2012-2013 academic year should complete the FAFSA on the Web at http://www.fafsa.ed.gov as soon as possible after January 1, 2012. Using FAFSA on the Web is faster and easier than using paper. However, if you don’t have Internet access you can request a paper FAFSA from the Federal Student Aid Information Center at 1-800-4-FED-AID (1-800-433-3243).

NOTE: Students must complete a FAFSA each academic year. For UConn, The FASFA must be submitted to the Federal Processor on or before March 1 of each year to be considered on time.

• The FAFSA is a required document used to determine a student’s eligibility for federal, state, and University aid, such as Pell grants, Federal Direct Stafford Loans, Federal Perkins Loans, Work-Study, etc. Complete and file only one FAFSA per student, although the results may be sent to several schools.

• On Step 6 of the FAFSA, regardless of the campus you will attend, list the University of Connecticut and Federal School Code 001417. Enter the college address as 233 Glenbrook Road, Storrs, CT. If you have any questions regarding the FAFSA, contact the U.S. Department of Education at 1-800-433-3243.

• To be considered on time at UConn, you must submit your FAFSA by March 1, 2012. The awarding of most forms of University of Connecticut financial assistance is reserved for applications received and logged in by the federal processor on or before this on time application deadline. Please note that all awards are based upon funds availability. Do not wait for final income tax figures. Complete the FAFSA using estimated 2010 income figures, if necessary, to meet the on time application deadline.
More

Helpful Resources

Free Application for Federal Student Aid (FAFSA)
fafsa.ed.gov

Office of Student Financial Aid Services
financialaid.uconn.edu

Office of the Bursar
bursar.uconn.edu

Office of Undergraduate Admissions
admissions.uconn.edu

Student Employment
studentjobs.uconn.edu

Student Administration System
www.studentadmin.uconn.edu

Scholarship Information

Merit Scholarships

Tuition and fees

Questions?
Contact the Office of Student Financial Aid Services financialaid@uconn.edu or (860)486-2819.

UConn Is Here To Help The Office of Student Financial Aid Services is here to help. We are committed to providing quality service to all applicants and offer advice on financial aid, scholarships, veterans benefits, and student employment. Contact us at 860.486.2819 or financialaid@uconn.edu. To expedite your inquiry, please have your 7-digit Student Administration identification number ready. We’ll do our best to answer all your questions.

Are You Attending A Regional Campus? The financial aid application process is the same for all students across the University – at the main campus in Storrs and at all five regional campuses in Connecticut.

Did You Know?
Most UConn students qualify for some form of financial aid. We encourage you to apply for assistance even if you or your parents or guardians don't think you will be eligible.

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