Types of Aid

FEDERAL STUDENT AID – Completion of the Free Application for Federal Student Aid (FAFSA) is required for all forms of Federal Student Aid. If the application is selected for verification, that process must be completed before aid eligibility can be determined. Go to www.fafsa.gov to complete the annual application.

If a student is enrolled in courses that do not count toward his/her degree and/or if a student is repeating a course in which a passing grade was previously earned (unless repeating for ADDITIONAL credit is allowable), non-degree-required hours cannot be used to determine enrollment status for aid purposes. However, effective July 1, 2011, Federal regulations regarding repeated coursework were amended to allow repeated coursework to count toward enrollment status in term-based programs in that a student: (1) May repeat previously passed course once; and/or (2) May repeat failed course until it is passed.

Federal Pell Grant – A Federal Pell Grant is an award to help eligible undergraduates pay for their education after high school.  Federal Pell Grants provide the “foundation” of financial aid packages. Effective with the 2012-2013 award year, Federal law has reduced the duration of a student’s eligibility to receive a Federal Pell Grant from 18 semesters (or its equivalent) to 12 semesters (or its equivalent). This change applies to ALL students who receive a Federal Pell Grant regardless of when they received their first Federal Pell Grant. In most cases the Federal Pell Grant does not have to be paid back; however, they are subject to Return of Title IV Funds regulations.

All Federal Pell Grant awards for Fall & Spring semesters are based on projected full-time (12 or more credit hours) enrollment or actual enrollment at the time aid is packaged; however, full-time enrollment is generally not a requirement to receive Federal Pell Grant funds.  Federal Pell Grants will be adjusted for students who are not enrolled and attending (or participating, if online) full-time as of the semester census date.  Adjustments will also be made, even after the term has ended, if it is determined that a student received Federal Pell Grant funds for a course in which he/she enrolled but never attended. [Pell Grant payments for clock hour programs (EMT Paramedic Program at UAM College of Technology at McGehee) are based on the number of clock hours in which a student is enrolled and progression in the courses throughout the calendar year rather than a specific number of credit hours.]

NOTE: Upon completion of declared major curriculum requirements for a first bachelor’s degree, a student is no longer eligible to receive a Pell Grant. Example: A student working on a double major has completed all requirements for the first bachelor’s degree, but does not apply for graduation until he or she has completed the requirements for both majors, is no longer eligible for a Pell Grant.

Compliance with Special Provision for Books and Supplies: UAM allows all students (not just Federal Pell Grant recipients) who have an anticipated credit balance to charge required books and supplies at the on-campus bookstore. This practice meets the special provision for books and supplies as shown below.

In order to academically succeed in a program a student must be able to purchase books and supplies at the beginning of the academic period. Therefore, by the seventh day of a payment period (semester), a school must provide a way for a student who is eligible for a Federal Pell Grant to obtain or purchase the books and supplies required for the payment period if:

-          ten days before the beginning of the payment period, the school could have disbursed FSA funds to the student; and

-          disbursement of those funds would have created an FSA credit balance.

However, to be eligible to receive the disbursement for books and supplies, a student must meet all the student eligibility requirements before the start of the student’s payment period. A student who has not completed the verification process, has an unresolved eligibility issue on the FAFSA (SAR), or has unresolved conflicting information is not covered by the special provisions for books and supplies if those issues have not been resolved at least 10 days before the start of the student’s payment period.

Federal Supplemental Education Opportunity Grant – A Federal SEOG is an award to help eligible undergraduates with exceptional financial need.  Funding is limited.  Priority is given to Federal Pell Grant recipients. In most cases a Federal SEOG does not have to be paid back; however, they are subject to Return of Title IV Funds regulations.

Federal College Work Study – The Federal College Work Study program provides eligible undergraduates or graduate students an opportunity to work at an on-campus or community service job.  Funding is limited.  FCWS helps you earn money for college expenses.

Students who are able to secure a campus job through the Federal College Work Study program may work a maximum of twenty hours per week and are paid minimum wage.  Students are paid once a month for hours worked. Students must complete several payroll documents in the Financial Aid Office before they can begin working on campus.  Prior to being certified to work, students must bring a valid drivers license and a Social Security card or birth certificate to the UAM Financial Aid Office. A work study award does NOT guarantee the student employment on campus.  Each student must locate a job on campus.  Unfortunately UAM does not have a job for every student who qualifies for work study funds.  Accepting a work study award does not guarantee that the student will earn the full amount listed on the award letter.

Federal Direct Loans – Stafford Subsidized, Unsubsidized and PLUS: The U.S. Department of Education is the lender. Maximum Federal Direct Stafford Loan eligibility is automatically packaged and offered when the award notification letter is sent to the student. Parents interested in borrowing a PLUS loan to help with their student’s education expenses must go to https://studentloans.gov/myDirectLoan/index.action and sign in using their FSA ID to complete the Parent PLUS request process. The parent applicant must contact the UAM Financial Aid Office for further instructions after the credit decision is disclosed at the end of the electronic request process. No further processing will be done until after the school receives and evaluates an electronic credit approval report from the U.S. Department of Education (USDE). If a requested Parent PLUS loan is denied by the USDE, the student may request an Additional Unsubsidized Direct Stafford Loan due to the PLUS denial by completing a Loan Request Form (LRF).

SUBSIDIZED Loans are need-based.  The government pays the interest while student is in school at least half-time.

UNSUBSIDIZED Loans are not need-based.  The student pays all interest for the life of the loan.

PLUS Loans are credit-based loans for parents of dependent undergraduate students (and in very limited cases, graduate students). The loan is unsubsidized; the borrower is responsible for paying all interest.

Annual limits for subsidized and unsubsidized loans vary by grade level, and there are aggregate limits on the total amount that may be borrowed at one time. All offered loan amounts are limited by the student’s cost of attendance budget less other aid received. The cost of attendance is determined by the school based on multiple factors such as room and board (including whether the student lives on campus, off campus or with parents/other relatives); tuition and fees; books and supplies; transportation; personal and miscellaneous expenses; and loan fees. If annual limits are borrowed during the fall and spring terms, additional loan funds will not be available for summer school.  Please plan accordingly.


You must be enrolled at least halftime and attending classes (undergraduate: 6 hours/graduate: 3 hours) that are required for your eligible certificate or degree program in order to qualify for a Direct Loan. If we receive notification from your course instructor that you never attended class, your eligibility for a loan may be jeopardized. This could also result in your full loan amount being due for repayment immediately (even if the term has ended). Loans are subject to Return of Title IV Funds regulations.


The borrower must complete a Master Promissory Note (MPN) and Entrance Counseling (not required for Parent PLUS loans) before any loan funds can be applied to your account.  Go to https://studentloans.gov/myDirectLoan/index.action to complete the MPN and Entrance Counseling.  You will need your U.S. Department of Education FSA ID to log into the website.  This is the FSA ID used to sign your FAFSA electronically. If you do not remember your FSA ID, you can request your username or password be sent to you.  https://fsaid.ed.gov  The UAM Financial Aid Office does not have access to FSA ID accounts and we cannot assist you in obtaining your username or password. (For Direct Stafford subsidized and unsubsidized loans and Graduate PLUS loans, the borrower is the student. For Direct PLUS loans for parents, the borrower is the parent.)


All loans are delivered in two disbursements, with one typically arriving at the beginning of the loan period and the second arriving after one‐half of the loan period has passed.

Loan Proceeds for firsttime borrowers are not disbursed until 30 days after classes begin.

Annual Limits Subsidized Total (Subsidized  & Unsubsidized)
Dependent Undergraduates    
First Year (1-29 Hours) $3,500 $5,500
Second Year (30-59 Hours) $4,500 $6,500
Third Year & Higher (60+ Hours) $5,500 $7,500
Independent Undergraduates       Subsidized Total (Subsidized & Unsubsidized)
First Year (1-29 Hours) $3,500 $9,500
Second Year (30-59 Hours) $4,500 $10,500
Third Year & Higher (60+ Hours) $5,500 $12,500
*Graduate Students $0 $20,500
Aggregate Limits Subsidized Total (Subsidized & Unsubsidized)
Dependent Undergraduates $23,000 $31,000
Independent Undergraduates $23,000 $57,500
*Graduate Students $65,500 $138,500
*For loans first disbursed July 1, 2012 or after, Graduate
Students can borrow only Unsubsidized loans.


You must notify the UAM Registrar’s Office and your loan servicer of any changes in your name, address, telephone number or enrollment status.

When you graduate, withdraw, or drop below halftime enrollment at UAM, you must complete an exit interview. Go to https://studentloans.gov/myDirectLoan/index.action and select Exit Counseling.


You must repay the loan even if you do not graduate or if you become dissatisfied with the education you receive.  If you receive additional financial aid, you must contact the UAM Financial Aid Office. Additional aid can result in your Direct Loan being reduced or reallocated.

Return of Title IV Funds – Students who receive Title IV aid and do not complete at least 60% of the semester for which they are enrolled may be required to return a portion of the Federal funds received.  Title IV aid includes, but is not limited to, Federal Pell Grants, Federal Supplemental Educational Opportunity Grants (SEOG), and Federal Direct Loans (Stafford and PLUS).  In most cases, the withdrawal date for students who officially withdraw will be the actual date of withdrawal as determined by the Registrar’s Office.  Students who cease attending without officially withdrawing are considered “unofficial withdrawals.”  The midpoint of the semester (or in some cases, the last date of attendance) will be used in determining the amount of aid to be returned for unofficial withdrawals. If you should have to withdraw at any point, contact the Financial Aid Office.

ARKANSAS STATE AID – Completion of the Arkansas YOUniversal Scholarship Application is required. The Arkansas Department of Higher Education has information available for students and parents (www.ADHE.edu).  Start your Scholarship Application by clicking the START button. The application deadline is June 1 for most programs; however, it is February 1 for the Governor's Scholarships. Eligibility for Arkansas state financial aid programs is disclosed by ADHE via email to the student. 

The awards will only appear on UAM financial aid notification letters generated after the school has been notified; however, all financial aid awards can be viewed on WeevilNet in the Student Services Center. It is a student's responsibility to keep his or her ADHE profile updated with the school you plan to attend.

INSTITUTIONAL AID – Go to http://www.uamont.edu/pages/financial-aid/institutional-scholarships/ for information about UAM institutional scholarships.


Receipt of additional financial assistance such as scholarships, grants-in-aid, or vocational rehabilitation grants may change eligibility for awards that have already been processed.  Direct Loans (Stafford and PLUS), Federal Supplemental Educational Opportunity Grants (SEOG) and Arkansas Department of Higher Education (ADHE; i.e., Academic Challenge, HEOG, etc.) may be decreased or canceled if the student receives additional assistance.  IT IS THE STUDENT’S RESPONSIBILITY TO KEEP THE FINANCIAL AID OFFICE INFORMED OF ALL ASSISITANCE YOU WILL BE RECEIVING.

UAM Financial Aid Office
P.O. Box 3470
Monticello, AR 71655