Receiving Your Financial Aid
Steps to Receiving Your Financial Aid
1. Create your Federal Student Aid ID
- To get financial aid for college, both the student and their parent need to create a Federal Student Aid ID before they file their Free Application for Federal Student Aid (FAFSA). It's important to do this at least 24 hours before you file your FAFSA. This will allow you to use the IRS Data Retrieval Tool within the FAFSA. This tool makes it easier to fill out the FAFSA by automatically filling in some of the information for you.
2. Complete your FAFSA.
- To apply for financial aid, you need to fill out the Free Application for Federal Student Aid (FAFSA). This is a form that you can fill out online. It asks for information about your family's income, assets, and other financial information. Within the FAFSA, you should list the UAA school code (011462) so that UAA can receive a copy of your FAFSA. This is important because UAA requires access to a current and valid FAFSA in order to process your financial aid.
- If you are selected for FAFSA Verification, you'll need to complete some additional forms before your financial aid can be processed. This might include a Verification Worksheet and other financial forms. It's important to complete these forms as soon as possible so that your financial aid can be processed without any delays.
3. Apply for PWSC and UAA Scholarships
- Learn how to apply for PWSC scholarships To learn more about how to apply for scholarships through PWSC, you can visit the webpage above or contact our financial aid office for more information. This can help you find more opportunities to pay for your education.
- In addition to applying for scholarships through Kaleidoscope, you can also apply to scholarships at UAA or UA. You need to submit the Kaleidoscope UAOnline Scholarship Application by February 15th before the start of the academic year that you're applying for.
4. Review your financial aid award letter
- After you submit your Free Application for Financial Student Aid (FAFSA), you will receive your UAA Financial Aid Award Letter within a few weeks through your UAOnline account. It is important that you check the status of your financial aid frequently by checking the "Financial Aid" tab on your UAOnline account. If you need to submit additional documentation, we encourage you to do so as soon as possible to prevent delays in awarding your financial aid. Some forms can be submitted through the UAOnline portal, while others will include instructions on how to submit them.
- UAOnline will also allow you to view important information, such as the status of your financial aid, any holds on your account, your academic progress, the cost of attendance, and any messages from the Office of Financial Aid.
- Make sure to check your University of Alaska student email account for notifications from the Office of Financial Aid. This is the primary way that we communicate with students, so it is important to check your email regularly.
5. Accept or decline your awards
- To accept or decline the awards offered to you, log in to your UAOnline account. You can choose to accept or decline your Federal Work Study award, and you can choose to accept or decline all or part of your federal student loans. It is important to complete this step, because if you do not, your loan requests will not be processed.
- If you qualify for the Pell Grant or other scholarships or grants, they will automatically be accepted for you because they are free money. You do not need to do anything to accept these awards.
6. Complete Entrance Counseling
- If you plan to borrow Federal Direct Subsidized or Direct Unsubsidized Loans and you are a first-time borrower, you must complete Federal Direct Loan Entrance Counseling. This is required by law, and if you do not complete it, your loan disbursements will be delayed. It is important to complete this counseling as soon as possible to avoid delays in receiving your loan funds. You can find information on how to complete this counseling on the UAA Office of Financial Aid website.
Complete a Direct Loan Master Promissory Note
7. Complete a Direct Loan Master Promissory Note
The Master Promissory Note is a legal document that outlines the terms, conditions, and repayment requirements of your loan. When you complete an MPN, it applies to any other direct loans you take out in the next 10 years.
Parents who want to take out a Parent PLUS loan on behalf of a dependent undergraduate student must also complete an MPN. This loan is based on the creditworthiness of the parent borrower.
All Direct Loan MPNs can be accessed and signed electronically. To complete a Direct Loan Master Promissory Note, follow the instructions on the Office of Financial Aid website.
8. Monitor your financial aid status on UAOnline.
To stay informed about the status of your financial aid, monitor your UAOnline account regularly. This is the fastest way to see updates to your financial aid award.
It is also important to monitor your admissions status, because your financial aid will not be paid out until you are fully admitted to Prince William Sound College.
- You can also check your Student Account information to see when your financial aid has been disbursed and what you owe. This will help you manage your finances and make any necessary payments.
- Finally, make sure to check your UA email account and the financial aid website frequently
for important updates and announcements. This will help you stay informed and avoid
missing any important deadlines or requirements.