Frequently Asked Questions

About Us

How do I apply for a job at UHEAA?

To apply for open positions at UHEAA or the Utah System of Higher Education, please visit our Jobs page.

What does UHEAA do?

The Utah Higher Education Assistance Authority (UHEAA), a subsidiary of the State Board of Regents, is an agency of the State of Utah which administers Utah's student financial aid programs, including the student loan guarantee program and secondary market, state need-based financial aid, the Utah Educational Savings Plan Trust, and the Utah Engineering and Computer Sciences Loan Forgiveness Program. UHEAA's mission includes comprehensive outreach and information to assist citizens in planning for and financing postsecondary education, and special programs to keep student loans affordable and help borrowers avoid delinquencies and defaults.

What programs are available through UHEAA

UHEAA administers the following state and federal student financial aid programs:
Utah Student Loan Guarantee Program (LGP)
Utah State Board of Regents Loan Purchase Program (LPP)
Utah Centennial Opportunity Program for Education (UCOPE)
Utah Educational Savings Plan Trust (UESP)
State Matching Grants for USHE Institutions' Campus-Based Federal Programs

These programs exist to provide financial and informational assistance to Utah residents and students attending Utah postsecondary institutions in making the best decisions about and obtaining financial access to higher education.

Where are the UHEAA Calculators?

Please visit the Account Access page and view the lower right section labeled "Additional Resources."

Borrower Benefits

Automatic Payment Benefit

As long as LPP holds the loan, UHEAA will reduce the interest rate charged to borrowers on Federal Stafford and Federal Parent and Graduate/Professional PLUS loans as determined by the date of first disbursement:

- For loans first disbursed on or after July 1, 2008, by 0.25%.

- For loans first disbursed on or after January 1, 2008 and before July 1, 2008, by 0.50%.

- For loans first disbursed on or before December 31, 2007, by 1.25%.

As long as LPP holds the loan, UHEAA will reduce the interest rate charged to borrowers on Federal Consolidation loans as determined by the date of first disbursement: (please note that UHEAA indefinitely suspended originating Federal Consolidation loans effective September 1, 2008):

- For loans disbursed on or after January 1, 2008 and before April 30, 2008, UHEAA will reduce the interest rate by 0.25%.

- For loans first disbursed on or after May 1, 2006 and before December 31, 2007, UHEAA will reduce the interest rate by 0.50%.

- For loans disbursed on or before April 30, 2006, UHEAA will reduce the interest rate by 1.25%. This benefit is active during any period in which the borrower makes payments automatically from a checking or savings account through UHEAA’s Automatic Payment Benefit program, subject to the following:

- In order to qualify for the Automatic Payment Benefit, all of a borrower's loans serviced by UHEAA must be set up for automated payments.

- Loans that are in repayment status qualify for the Automatic Payment Benefit after the account is set up for automatic payments from a checking or savings account. Loans in deferment, forbearance or grace status are not eligible for the Automatic Payment Benefit. An Automatic Payment Benefit application received for a loan in deferment, forbearance or grace status will be processed once the loan enters repayment.

- The Automatic Payment Benefit interest rate reduction remains in effect as long as the loan(s) is paid by automated payments.

- The Automatic Payment Benefit will be canceled if the loan has more than one returned transaction for any reason (NSF, Account Closed, Incorrect Transit/Routing number, etc.) within any 12-month period. In the case of a second returned transaction, the interest rate reduction is ended and the interest rate returns to the current statutory rate. The borrower may re-apply for the Automatic Payment Benefit after making on-time payments for 12 consecutive months by cash, check, or money order. The borrower’s loan(s) will not become eligible for the Automatic Payment Benefit for a period of 12 months from the date of the occurrence of the 2nd returned transaction. Lump-sum payments will not accelerate the re-establishment of eligibility.

- Loans accrue interest at the federal statutory rate, not the reduced rate, during periods of deferment and forbearance. During periods of deferment, the U.S. Department of Education will pay the accrued interest on subsidized loans at the statutory rate.

- The automatic payment withdrawals and Automatic Payment Benefit automatically resume upon expiration of a deferment or forbearance.

Default Fee Benefit

UHEAA's Secondary Market Loan Purchase Program (LPP) pays the 1% default fee to the Guarantor on behalf of the borrower for Federal Stafford loans first disbursed on or before June 30, 2009.

Origination Fee Credit Benefit

For Federal Stafford loans guaranteed by UHEAA between May 1, 2000 and June 30, 2009, UHEAA will credit to the borrower's principal loan balance, upon purchase of the loans by LPP, an amount equal to the Origination Fee originally deducted from the borrower's loan proceeds.

Federal Parent and Graduate/Professional PLUS guaranteed by UHEAA between May 1, 2000 and June 30, 2009, and on or before December 31, 2007, UHEAA will credit to the borrower's principal loan balance, upon purchase of the loans by LPP, an amount equal to the Origination Fee originally deducted from the borrower's loan proceeds.

Subject to the following:

Federal Stafford or Federal Parent and Graduate/Professional PLUS loans purchased by LPP, then immediately paid by a Federal Consolidation loan, are eligible for this credit. Federal Stafford or Federal Parent and Graduate/Professional PLUS loans paid by a Federal Consolidation loan prior to LPP purchasing the Federal Stafford or Federal Parent and Graduate/Professional PLUS loan are not eligible for this credit.

The Origination Fee Credit Benefit is applied to the account balance within 30-60 days of loan purchase by LPP.

The Origination Fee Credit Benefit can only be applied as a credit to the loan principal. The borrower may not receive a direct refund. In the case of a payment in full prior to receipt of the credit, the credit is posted to the principal loan balance and any overpaid amount is refunded to the borrower by check.

For loans disbursed on or before April 30, 2006, UHEAA will reduce the interest rate by 1.25%.

Timely Payment Origination Fee Credit Benefit

For Federal Stafford or Federal PLUS loans guaranteed by UHEAA prior to May 1, 2000 and first disbursed on or after January 1, 1995, UHEAA will credit to the borrower’s principal balance an amount equal to the Origination Fees paid by the borrower in excess of $240 after the borrower pays the first 24 monthly payments on time, subject to the following:

- The Timely Payment Origination Fee Credit Benefit will apply as long as LPP continues to hold the loan.

- The borrower is allowed to make three late payments between 15 and 30 days after the due date without losing eligibility for the Timely Payment Origination Fee Credit Benefit.

- The borrower is immediately disqualified from the Timely Payment Origination Fee Credit Benefit if a payment is 31 days or more delinquent.

- The Timely Payment Origination Fee Credit Benefit is the net amount of origination fees charged to the borrower in excess of $240. To qualify for this benefit the total indebtedness of a borrower’s loans held by LPP must exceed $8,000.

- Periods of time when a loan is in deferment or forbearance are not used to calculate the 24-month time period.

- Lump-sum payments count as eligible monthly payments if the due date is advanced. If the borrower instructs UHEAA to post a lump sum payment as a principal reduction and advises UHEAA not to advance the due date, the lump sum amount will count as one monthly payment.

Timely Payment Benefit

- Federal Stafford or Federal Parent and Graduate/Professional PLUS loans that first entered repayment on or after January 1, 2008 and before April 30, 2008, UHEAA will reduce the outstanding balance by 2% if the borrower pays the first 48 monthly payments on time.

- Federal Stafford or Federal Parent and Graduate/Professional PLUS loans that first entered repayment on or after January 1, 1993 and before December 31, 2007, UHEAA will reduce the interest rate 2% if the borrower pays the first 48 monthly payments on time.

- Federal Consolidation loans originated on or after May 1, 2006 and for Federal Consolidation applications received prior to October 8, 2007, UHEAA will reduce the interest rate 1% if the borrower pays the first 36 monthly payments on time.

- Federal Consolidation loans originated on or after January 1, 1993 and before April 30, 2006, UHEAA will reduce the interest rate 1% if the borrower pays the first 48 monthly payments on time. Eligibility for this interest rate discount is subject to the following additional terms and conditions:

- The interest rate reduction will apply as long as LPP continues to hold the loan.

- The borrower’s loan is immediately disqualified from the Timely Payment Benefit if a payment is made 15 days or more after its due date.

- The Timely Payment Benefit can be earned only during the first 48 or 36 months of repayment (depending on the type of loan and the origination date).

- Periods of time when an account is in deferment or forbearance are not counted in the 48- or 36-month time period.

- Lump-sum payments count as eligible monthly payments if the due date is advanced. If the borrower instructs UHEAA to post a lump sum payment as a principal reduction and advises UHEAA not to advance the due date, the lump sum amount will count as one monthly payment. A borrower must make 36 or 48 timely payments on all open loans in order to qualify. A borrower may not pay a single open loan or a subset of open loans ahead of other loans in order to accelerate eligibility.

- Federal Stafford or Federal PLUS loans entering repayment, or Consolidation Loans originated, prior to January 1, 1993 do not qualify for this benefit.

- If a borrower consolidates Federal Stafford or Federal Parent and Graduate/Professional PLUS loans held by LPP on which this benefit has been earned, the borrower must re-qualify for the Timely Payment Benefit.

- If a borrower consolidates Federal Stafford or Federal Parent and Graduate/Professional PLUS loans, the statutory rate, not the reduced rate, will be used to calculate the weighted average of the Federal Consolidation loan.

Federal PLUS Loan Interest Credit Benefit

For Federal PLUS loans held by LPP with a first disbursement date on or after July 1, 1999 and before July 1, 2006, UHEAA applies a credit to your Federal PLUS loan principal balance equal to the amount of interest paid by you during the first 12 months of repayment, subject to the following:

- The PLUS Loan Interest Credit Benefit is calculated using the actual amount of interest paid on the account during the first 12 months of repayment. Capitalized interest does not count toward the credit.

- Periods of deferment or forbearance do not extend the 12-month repayment period.

- The Federal PLUS Loan Interest Credit Benefit is calculated and applied to the loan principal balance within 60 days after the end of the first 12 months of repayment.

- If a borrower pays a Federal PLUS loan in full during the first 12 months of repayment, the credit will be applied to the account and then refunded as an overpayment within 60 days of payoff. Overpayments are refunded to the borrower by check. If the loan is paid in full, the interest credit is equal to the actual amount of interest paid on the account, including accrued interest paid by consolidation.

- If the loan is paid in full by consolidation and the consolidation loan is held by LPP, the credit is applied to the consolidation loan.

- Lump-sum payments cannot accelerate Federal PLUS Loan Interest Credit Benefit eligibility. The loan does not become eligible for this benefit until the first 12 months of repayment have elapsed or the loan is paid in full, whichever comes first.

Loans that are rehabilitated and repurchased are not eligible for the Federal PLUS Loan Interest Credit Benefit.

What is Auto-Pay?

Auto-Pay is an automatic Payment is a service for borrowers who prefer not to write checks to make their monthly loan payments. Once approved, UHEAA will electronically transfer your monthly installment, along with any additional amount you have requested, from your checking or savings account to your student loan account. This automatic transaction will happen on the same date each month.

Why sign up for Automatic Payment?

Auto-Pay is the easiest and most convenient way to make your student loan payments. - No more late fees. Since your installment amount is automatically withdrawn from your bank account, your payments will never be late (as long as the funds are available).

- Save money. No need to keep a large supply of stamps and envelopes, or pay for checks.

- Save time. Your time is valuable. The transaction is automatic, so there's no need to make a trip to the post office to mail your payment.

- Help the environment. Going paperless saves trees and reduces solid waste. Using this service may also qualify you for an interest rate reduction.

Where are the UHEAA Calculators?

Please visit the Account Access page and view the lower right section labeled "Additional Resources."

Where can I find the Borrower Benefits Legal Disclosure?`

The UHEAA Borrower Benefits Legal Disclosure is available at the very lower part the our legal notice, or can be accessed directly at www.uheaa.org/benefits.

Contact Us

How do I apply for a job at UHEAA?

To apply for open positions at UHEAA or the Utah System of Higher Education, please visit our Jobs page.

Financial Aid

What kinds of financial aid are available?

Families are expected to be the primary source of education funding. Savings and contributions from friends and relatives are often used to help meet education costs. Beyond this primary source of funding, financial aid is available to those who qualify. Types of financial aid include:

- Scholarships
- Grants
- Loans
- Work Study
- Other Need-based Aid

Scholarships are awards usually based on skill, ability, talent, or achievement.

Grants are funds that generally don't have to be repaid. A recipient who fails to enroll, withdraws, or changes enrollment status may owe a refund or repayment depending on the school's refund/repayment policy. Grants are usually awarded according to an applicant's financial need.

Loans are another option for students. If a student decides to borrower, they should always borrower from the federal government first. The Free Application for Federal Student Aid (FAFSA) must be completed prior to be awarded any federal financial aid. Most student loans, some with government subsidies while in school, must be repaid.

Work study is also a form of financial aid. Work study is subsidized by the government allowing students to work at certain jobs on and off campus.

Other forms of need-based aid may include waivers of tuition and/or fees are offered by some schools. Military benefits may also be available to individuals (or to their dependents) who have performed military service or are preparing to enter the U.S. Armed Forces (ROTC).

Work-study programssubsidize student jobs on- or off-campus.

Who provides financial aid?

Schools, state and federal governments, and private organizations provide financial aid. You and your family have the primary responsibility for meeting educational expenses to the best of your ability.

How is financial aid awarded?

Schools award aid on the basis of financial need (need-based) or on the basis of academic achievement, athletic ability, or other talents or abilities (merit-based). Most financial aid is need-based but is often awarded in combination with merit-based awards.

Who awards federal financial aid?

The school's financial aid office develops your financial aid package according to government guidelines and regulations. The financial aid package is usually a combination of grants, scholarships, work-study, and/or loans, and depends on the availability of funds.

Where can I get further information about financial aid?

Your guidance counselor and the financial aid officer of the school(s) you're interested in attending are good starting points. Or you can visit www.fafsa.ed.gov for more information.

When do I apply for financial aid?

It's to your advantage to apply as early as possible. If you are a senior in high school, submit your FAFSA after January 1, as soon as your family has its tax preparation data. Students who complete and return the FAFSA by March 15 have the best chance of receiving so-called campus based financial aid. Deadlines for financial aid programs vary. If you don't know the deadline, check with the financial aid office or your high school counselor.

What is "Need Analysis?"

Need Analysis is a process used to determine if you have need for aid and, if so, how much need. Financial need is usually the difference between your Cost of Attendance and the amount of money your family is expected to contribute. The formula is:

Total Cost of Attendance (varies from school to school).

Minus Expected Family Contribution (generally the same regardless of school).

Equals Financial Need.

How is my Expected Family Contribution determined?

The financial information provided on the FAFSA is used by institutions and scholarship services, as well as state and federal financial aid programs, to determine what you and your family should reasonably be expected to contribute toward your educational costs. The standard formula evaluates your family's prior-year income, current assets, and expenses, and provides allowances. The result is your expected family contribution (EFC), which is the amount you and your family are expected to provide toward the cost of your education for that particular school year. The EFC of a dependent student is calculated on the basis of the student's and parents' resources. The EFC of an independent or self-supporting student is calculated on the basis of the student's own financial resources (and those of a spouse, if applicable).

Which parent should complete the financial aid application if my parents are divorced or separated?

The parent with whom you lived the most during the past 12 months should complete the application. If you lived with each parent an equal length of time or lived with neither parent, the parent providing the most financial support for you during the last year should complete the form.

If I have a guardian, should (s)he fill out the financial aid application?

Yes, if your guardian has been legally appointed by a court to support you with his or her own resources and that support will continue while you attend a post secondary institution. Otherwise, your guardian is not required to complete the form unless the school requests it.

What does financial aid cover?

Financial aid must be used to pay the cost of education, which may include:
Tuition and Fees
Books and Supplies
Transportation
Housing
Food
Personal Expenses (Laundry, Clothes, etc. )

How much financial aid can I get?

The total amount of need-based financial aid can't exceed the school's total Cost of Attendance minus the Expected Family Contribution.

When will I know how much I will get?

If you apply for state and federal aid between January and April, you should be notified of your award(s) during the late spring or early summer.

What Financial Aid options are available to me?

Many students preparing for college and their parents are surprised to know how many options there are to pay for college. These include:
Loans
Grants
Scholarships
Work study

Do I qualify for Teacher Loan Forgiveness?

If you have taught at a Title I (low-income or rural) school for five consecutive years, yes. You are eligible to receive this loan forgiveness after you have completed your fifth year. You and an administrative official at the school will need to complete and submit the application in order to receive the forgiveness. Submitting a Teacher Loan Forgiveness Forbearance application will not result in loan forgiveness.

What is need-based financial aid?

Aid that is based on a student's ability to pay is called need-based aid. The primary process for determining need is the Free Application for Federal Student Aid (FAFSA). This form is submitted by the student and his or her family every year. Applicants must provide financial information on these forms, which is processed according to a federal formula. Information from this form is provided to schools and is used to determine the type and amount of aid a student is eligible to receive.

Do I need to submit additional documentation with my Income-Based Repayment (IBR) application?

Yes. In order to expedite processing your IBR request, please submit us a signed copy of your most recent tax return. While we are able to request your tax information from the IRS if you submit a 4506-T or a 4506T-EZ form, doing so significantly extends our processing time as we await your tax information.

Can I still apply for IBR if I did not file taxes? What do I do if my taxes do not reflect my current income?

If your tax return does not reflect your income or if you did not file taxes, you may submit the Alternative Documentation of Income form and any necessary accompanying documentation.

How do I apply for financial aid?

Go to www.fafsa.ed.gov to apply for financial aid or check with your school's financial aid office for more information.

What is need-based financial aid?

Aid that is based on a student's ability to pay is called need-based aid. The primary process for determining need is the Free Application for Federal Student Aid (FAFSA). This form is submitted by the student and his or her family every year. Applicants must provide financial information on these forms, which is processed according to a federal formula. Information from this form is provided to schools and is used to determine the type and amount of aid a student is eligible to receive.

Where are the UHEAA Calculators?

Please visit the Account Access page and view the lower right section labeled "Additional Resources."

Forms

Why are there brackets for two dates on the Unemployment Deferment Form?

The first set of brackets is for the date you first became unemployed or started working less than full-time. The second set of brackets is for the date you would like the deferment to start. The second date cannot be earlier than the first.

If I want only my minimum monthly payment amount to withdraw, do I write my payment amount at the bottom of the automatic payment form by the dollar sign?

If you want only your minimum monthly payment to withdraw, you will not list any amount at the bottom of the form. You will only complete that portion of the form if you would like a set additional amount withdrawn, along with your minimum monthly installment.

Must I request that my deferment start on the day I submit UHEAA the forms?

You may back date an Unemployment Deferment six months in the past (provided you were unemployed or working less than full-time at the time). You may back date an Economic Hardship Deferment twelve months in the past (provided you met the requirements at the time). If your account is past due, we recommend that you request the date you first became delinquent as your deferment start date.

Do I need to return all of the pages that are included with my request form?

You only need return the pages that need to be completed, along with any supporting documentation. All deferment request forms include extra informational pages to assist you in filling out the forms.

How and where do I return my forms?

You can return your forms by mail, fax, or e-mail. Our mailing address, e-mail address, and fax numbers are listed on our Contact Us page.

Loans

What kind of student loan do I have?

The best option for determining what kind of student loan(s) you have is by logging into the National Student Clearinghouse. You may access your information in student portal of website called MyStudentCenter.

Who is allowed to have information about my student loan account?

Those authorized to have information about a student loan account guaranteed by UHEAA are: the U.S. Department of Education, the school of attendance, the bank or credit union lending the money, the major credit reporting agencies, and any person(s) authorized by the borrower.

No information about a borrower's account can be given to an unauthorized third-party. Without the permission of the borrower, we cannot even confirm that a borrower has an account with us, or disclose any information specific to the borrower's account.

We can provide the same information we provide to a borrower to any authorized third party. However, while a borrower can request any and all changes to his/her account, an authorized third-party can only request changes to a borrower's address and telephone information.

To authorize an individual, the borrower needs to complete an "Authorization to Release Information to a Third Party" form and sign it with his/her legal signature. Click here for a link to this form. The form is also available for download from our website under the "Forms" link.

Why are loans being transferred to the U.S. Department of Education?

Because of changes enacted by Congress, all student loans made after July 1, 2008 were transferred to the U.S. Department of Education. This is a potentially confusing and frustrating situation and we at UHEAA pledge to do all we can to help you manage all your student loans. We sent letters to all the affected borrowers showing which loans were transferred (and which weren’t, in some cases).

Do I qualify for Teacher Loan Forgiveness?

If you have taught at a Title I (low-income or rural) school for five consecutive years, yes. You are eligible to receive this loan forgiveness after you have completed your fifth year. You and an administrative official at the school will need to complete and submit the application in order to receive the forgiveness. Submitting a Teacher Loan Forgiveness Forbearance application will not result in loan forgiveness.

How is financial aid awarded?

Schools award aid on the basis of financial need (need-based) or on the basis of academic achievement, athletic ability, or other talents or abilities (merit-based). Most financial aid is need-based but is often awarded in combination with merit-based awards.

Automatic Payment Benefit

As long as LPP holds the loan, UHEAA will reduce the interest rate charged to borrowers on Federal Stafford and Federal Parent and Graduate/Professional PLUS loans as determined by the date of first disbursement:

- For loans first disbursed on or after July 1, 2008, by 0.25%.

- For loans first disbursed on or after January 1, 2008 and before July 1, 2008, by 0.50%.

- For loans first disbursed on or before December 31, 2007, by 1.25%.

As long as LPP holds the loan, UHEAA will reduce the interest rate charged to borrowers on Federal Consolidation loans as determined by the date of first disbursement: (please note that UHEAA indefinitely suspended originating Federal Consolidation loans effective September 1, 2008):

- For loans disbursed on or after January 1, 2008 and before April 30, 2008, UHEAA will reduce the interest rate by 0.25%.

- For loans first disbursed on or after May 1, 2006 and before December 31, 2007, UHEAA will reduce the interest rate by 0.50%.

- For loans disbursed on or before April 30, 2006, UHEAA will reduce the interest rate by 1.25%. This benefit is active during any period in which the borrower makes payments automatically from a checking or savings account through UHEAA’s Automatic Payment Benefit program, subject to the following:

- In order to qualify for the Automatic Payment Benefit, all of a borrower's loans serviced by UHEAA must be set up for automated payments.

- Loans that are in repayment status qualify for the Automatic Payment Benefit after the account is set up for automatic payments from a checking or savings account. Loans in deferment, forbearance or grace status are not eligible for the Automatic Payment Benefit. An Automatic Payment Benefit application received for a loan in deferment, forbearance or grace status will be processed once the loan enters repayment.

- The Automatic Payment Benefit interest rate reduction remains in effect as long as the loan(s) is paid by automated payments.

- The Automatic Payment Benefit will be canceled if the loan has more than one returned transaction for any reason (NSF, Account Closed, Incorrect Transit/Routing number, etc.) within any 12-month period. In the case of a second returned transaction, the interest rate reduction is ended and the interest rate returns to the current statutory rate. The borrower may re-apply for the Automatic Payment Benefit after making on-time payments for 12 consecutive months by cash, check, or money order. The borrower’s loan(s) will not become eligible for the Automatic Payment Benefit for a period of 12 months from the date of the occurrence of the 2nd returned transaction. Lump-sum payments will not accelerate the re-establishment of eligibility.

- Loans accrue interest at the federal statutory rate, not the reduced rate, during periods of deferment and forbearance. During periods of deferment, the U.S. Department of Education will pay the accrued interest on subsidized loans at the statutory rate.

- The automatic payment withdrawals and Automatic Payment Benefit automatically resume upon expiration of a deferment or forbearance.

Origination Fee Credit Benefit

For Federal Stafford loans guaranteed by UHEAA between May 1, 2000 and June 30, 2009, UHEAA will credit to the borrower's principal loan balance, upon purchase of the loans by LPP, an amount equal to the Origination Fee originally deducted from the borrower's loan proceeds.

Federal Parent and Graduate/Professional PLUS guaranteed by UHEAA between May 1, 2000 and June 30, 2009, and on or before December 31, 2007, UHEAA will credit to the borrower's principal loan balance, upon purchase of the loans by LPP, an amount equal to the Origination Fee originally deducted from the borrower's loan proceeds.

Subject to the following:

Federal Stafford or Federal Parent and Graduate/Professional PLUS loans purchased by LPP, then immediately paid by a Federal Consolidation loan, are eligible for this credit. Federal Stafford or Federal Parent and Graduate/Professional PLUS loans paid by a Federal Consolidation loan prior to LPP purchasing the Federal Stafford or Federal Parent and Graduate/Professional PLUS loan are not eligible for this credit.

The Origination Fee Credit Benefit is applied to the account balance within 30-60 days of loan purchase by LPP.

The Origination Fee Credit Benefit can only be applied as a credit to the loan principal. The borrower may not receive a direct refund. In the case of a payment in full prior to receipt of the credit, the credit is posted to the principal loan balance and any overpaid amount is refunded to the borrower by check.

For loans disbursed on or before April 30, 2006, UHEAA will reduce the interest rate by 1.25%.

Timely Payment Origination Fee Credit Benefit

For Federal Stafford or Federal PLUS loans guaranteed by UHEAA prior to May 1, 2000 and first disbursed on or after January 1, 1995, UHEAA will credit to the borrower’s principal balance an amount equal to the Origination Fees paid by the borrower in excess of $240 after the borrower pays the first 24 monthly payments on time, subject to the following:

- The Timely Payment Origination Fee Credit Benefit will apply as long as LPP continues to hold the loan.

- The borrower is allowed to make three late payments between 15 and 30 days after the due date without losing eligibility for the Timely Payment Origination Fee Credit Benefit.

- The borrower is immediately disqualified from the Timely Payment Origination Fee Credit Benefit if a payment is 31 days or more delinquent.

- The Timely Payment Origination Fee Credit Benefit is the net amount of origination fees charged to the borrower in excess of $240. To qualify for this benefit the total indebtedness of a borrower’s loans held by LPP must exceed $8,000.

- Periods of time when a loan is in deferment or forbearance are not used to calculate the 24-month time period.

- Lump-sum payments count as eligible monthly payments if the due date is advanced. If the borrower instructs UHEAA to post a lump sum payment as a principal reduction and advises UHEAA not to advance the due date, the lump sum amount will count as one monthly payment.

Timely Payment Benefit

- Federal Stafford or Federal Parent and Graduate/Professional PLUS loans that first entered repayment on or after January 1, 2008 and before April 30, 2008, UHEAA will reduce the outstanding balance by 2% if the borrower pays the first 48 monthly payments on time.

- Federal Stafford or Federal Parent and Graduate/Professional PLUS loans that first entered repayment on or after January 1, 1993 and before December 31, 2007, UHEAA will reduce the interest rate 2% if the borrower pays the first 48 monthly payments on time.

- Federal Consolidation loans originated on or after May 1, 2006 and for Federal Consolidation applications received prior to October 8, 2007, UHEAA will reduce the interest rate 1% if the borrower pays the first 36 monthly payments on time.

- Federal Consolidation loans originated on or after January 1, 1993 and before April 30, 2006, UHEAA will reduce the interest rate 1% if the borrower pays the first 48 monthly payments on time. Eligibility for this interest rate discount is subject to the following additional terms and conditions:

- The interest rate reduction will apply as long as LPP continues to hold the loan.

- The borrower’s loan is immediately disqualified from the Timely Payment Benefit if a payment is made 15 days or more after its due date.

- The Timely Payment Benefit can be earned only during the first 48 or 36 months of repayment (depending on the type of loan and the origination date).

- Periods of time when an account is in deferment or forbearance are not counted in the 48- or 36-month time period.

- Lump-sum payments count as eligible monthly payments if the due date is advanced. If the borrower instructs UHEAA to post a lump sum payment as a principal reduction and advises UHEAA not to advance the due date, the lump sum amount will count as one monthly payment. A borrower must make 36 or 48 timely payments on all open loans in order to qualify. A borrower may not pay a single open loan or a subset of open loans ahead of other loans in order to accelerate eligibility.

- Federal Stafford or Federal PLUS loans entering repayment, or Consolidation Loans originated, prior to January 1, 1993 do not qualify for this benefit.

- If a borrower consolidates Federal Stafford or Federal Parent and Graduate/Professional PLUS loans held by LPP on which this benefit has been earned, the borrower must re-qualify for the Timely Payment Benefit.

- If a borrower consolidates Federal Stafford or Federal Parent and Graduate/Professional PLUS loans, the statutory rate, not the reduced rate, will be used to calculate the weighted average of the Federal Consolidation loan.

Federal PLUS Loan Interest Credit Benefit

For Federal PLUS loans held by LPP with a first disbursement date on or after July 1, 1999 and before July 1, 2006, UHEAA applies a credit to your Federal PLUS loan principal balance equal to the amount of interest paid by you during the first 12 months of repayment, subject to the following:

- The PLUS Loan Interest Credit Benefit is calculated using the actual amount of interest paid on the account during the first 12 months of repayment. Capitalized interest does not count toward the credit.

- Periods of deferment or forbearance do not extend the 12-month repayment period.

- The Federal PLUS Loan Interest Credit Benefit is calculated and applied to the loan principal balance within 60 days after the end of the first 12 months of repayment.

- If a borrower pays a Federal PLUS loan in full during the first 12 months of repayment, the credit will be applied to the account and then refunded as an overpayment within 60 days of payoff. Overpayments are refunded to the borrower by check. If the loan is paid in full, the interest credit is equal to the actual amount of interest paid on the account, including accrued interest paid by consolidation.

- If the loan is paid in full by consolidation and the consolidation loan is held by LPP, the credit is applied to the consolidation loan.

- Lump-sum payments cannot accelerate Federal PLUS Loan Interest Credit Benefit eligibility. The loan does not become eligible for this benefit until the first 12 months of repayment have elapsed or the loan is paid in full, whichever comes first.

Loans that are rehabilitated and repurchased are not eligible for the Federal PLUS Loan Interest Credit Benefit.

Do I need to submit additional documentation with my Income-Based Repayment (IBR) application?

Yes. In order to expedite processing your IBR request, please submit us a signed copy of your most recent tax return. While we are able to request your tax information from the IRS if you submit a 4506-T or a 4506T-EZ form, doing so significantly extends our processing time as we await your tax information.

Can I still apply for IBR if I did not file taxes? What do I do if my taxes do not reflect my current income?

If your tax return does not reflect your income or if you did not file taxes, you may submit the Alternative Documentation of Income form and any necessary accompanying documentation.

If I want only my minimum monthly payment amount to withdraw, do I write my payment amount at the bottom of the automatic payment form by the dollar sign?

If you want only your minimum monthly payment to withdraw, you will not list any amount at the bottom of the form. You will only complete that portion of the form if you would like a set additional amount withdrawn, along with your minimum monthly installment.

Must I request that my deferment start on the day I submit UHEAA the forms?

You may back date an Unemployment Deferment six months in the past (provided you were unemployed or working less than full-time at the time). You may back date an Economic Hardship Deferment twelve months in the past (provided you met the requirements at the time). If your account is past due, we recommend that you request the date you first became delinquent as your deferment start date.

Do I need to return all of the pages that are included with my request form?

You only need return the pages that need to be completed, along with any supporting documentation. All deferment request forms include extra informational pages to assist you in filling out the forms.

How and where do I return my forms?

You can return your forms by mail, fax, or e-mail. Our mailing address, e-mail address, and fax numbers are listed on our Contact Us page.

What is Auto-Pay?

Auto-Pay is an automatic Payment is a service for borrowers who prefer not to write checks to make their monthly loan payments. Once approved, UHEAA will electronically transfer your monthly installment, along with any additional amount you have requested, from your checking or savings account to your student loan account. This automatic transaction will happen on the same date each month.

Why sign up for Automatic Payment?

Auto-Pay is the easiest and most convenient way to make your student loan payments. - No more late fees. Since your installment amount is automatically withdrawn from your bank account, your payments will never be late (as long as the funds are available).

- Save money. No need to keep a large supply of stamps and envelopes, or pay for checks.

- Save time. Your time is valuable. The transaction is automatic, so there's no need to make a trip to the post office to mail your payment.

- Help the environment. Going paperless saves trees and reduces solid waste. Using this service may also qualify you for an interest rate reduction.

Where are the UHEAA Calculators?

Please visit the Account Access page and view the lower right section labeled "Additional Resources."

Scholarships

Are scholarships taxable?

Students attending college on scholarships should check the tax status of any financial assistance with their personal tax advisor.

For more information, contact the Internal Revenue Service (IRS) at 1-800-829-1040 or www.irs.gov.

A free publication, titled Scholarships and Fellowships, is available from the IRS by calling 1-800-829-3676 and requesting Publication #520, or by downloading it from the Internet. Other free publications are also available.

Where can I find scholarships?

The best place to start is at the financial aid office of the college that you are planning on attending and/or the counseling center at the high school you are currently attending. They will have the most detailed information for scholarships relevant to your particular major or field of study.

Also, UHEAA is sponsoring a fall scholarship contest for students who attend a Regional Financial Aid between August and November in 2011 (Details). Some online resources are: www.UtahFutures.org, www.zinch.com, and www.fastweb.com.

All FAQs

Are scholarships taxable?

Students attending college on scholarships should check the tax status of any financial assistance with their personal tax advisor.

For more information, contact the Internal Revenue Service (IRS) at 1-800-829-1040 or www.irs.gov.

A free publication, titled Scholarships and Fellowships, is available from the IRS by calling 1-800-829-3676 and requesting Publication #520, or by downloading it from the Internet. Other free publications are also available.

Automatic Payment Benefit

As long as LPP holds the loan, UHEAA will reduce the interest rate charged to borrowers on Federal Stafford and Federal Parent and Graduate/Professional PLUS loans as determined by the date of first disbursement:

- For loans first disbursed on or after July 1, 2008, by 0.25%.

- For loans first disbursed on or after January 1, 2008 and before July 1, 2008, by 0.50%.

- For loans first disbursed on or before December 31, 2007, by 1.25%.

As long as LPP holds the loan, UHEAA will reduce the interest rate charged to borrowers on Federal Consolidation loans as determined by the date of first disbursement: (please note that UHEAA indefinitely suspended originating Federal Consolidation loans effective September 1, 2008):

- For loans disbursed on or after January 1, 2008 and before April 30, 2008, UHEAA will reduce the interest rate by 0.25%.

- For loans first disbursed on or after May 1, 2006 and before December 31, 2007, UHEAA will reduce the interest rate by 0.50%.

- For loans disbursed on or before April 30, 2006, UHEAA will reduce the interest rate by 1.25%. This benefit is active during any period in which the borrower makes payments automatically from a checking or savings account through UHEAA’s Automatic Payment Benefit program, subject to the following:

- In order to qualify for the Automatic Payment Benefit, all of a borrower's loans serviced by UHEAA must be set up for automated payments.

- Loans that are in repayment status qualify for the Automatic Payment Benefit after the account is set up for automatic payments from a checking or savings account. Loans in deferment, forbearance or grace status are not eligible for the Automatic Payment Benefit. An Automatic Payment Benefit application received for a loan in deferment, forbearance or grace status will be processed once the loan enters repayment.

- The Automatic Payment Benefit interest rate reduction remains in effect as long as the loan(s) is paid by automated payments.

- The Automatic Payment Benefit will be canceled if the loan has more than one returned transaction for any reason (NSF, Account Closed, Incorrect Transit/Routing number, etc.) within any 12-month period. In the case of a second returned transaction, the interest rate reduction is ended and the interest rate returns to the current statutory rate. The borrower may re-apply for the Automatic Payment Benefit after making on-time payments for 12 consecutive months by cash, check, or money order. The borrower’s loan(s) will not become eligible for the Automatic Payment Benefit for a period of 12 months from the date of the occurrence of the 2nd returned transaction. Lump-sum payments will not accelerate the re-establishment of eligibility.

- Loans accrue interest at the federal statutory rate, not the reduced rate, during periods of deferment and forbearance. During periods of deferment, the U.S. Department of Education will pay the accrued interest on subsidized loans at the statutory rate.

- The automatic payment withdrawals and Automatic Payment Benefit automatically resume upon expiration of a deferment or forbearance.

Can I still apply for IBR if I did not file taxes? What do I do if my taxes do not reflect my current income?

If your tax return does not reflect your income or if you did not file taxes, you may submit the Alternative Documentation of Income form and any necessary accompanying documentation.

Default Fee Benefit

UHEAA's Secondary Market Loan Purchase Program (LPP) pays the 1% default fee to the Guarantor on behalf of the borrower for Federal Stafford loans first disbursed on or before June 30, 2009.

Do I need to return all of the pages that are included with my request form?

You only need return the pages that need to be completed, along with any supporting documentation. All deferment request forms include extra informational pages to assist you in filling out the forms.

Do I need to submit additional documentation with my Income-Based Repayment (IBR) application?

Yes. In order to expedite processing your IBR request, please submit us a signed copy of your most recent tax return. While we are able to request your tax information from the IRS if you submit a 4506-T or a 4506T-EZ form, doing so significantly extends our processing time as we await your tax information.

Do I qualify for Teacher Loan Forgiveness?

If you have taught at a Title I (low-income or rural) school for five consecutive years, yes. You are eligible to receive this loan forgiveness after you have completed your fifth year. You and an administrative official at the school will need to complete and submit the application in order to receive the forgiveness. Submitting a Teacher Loan Forgiveness Forbearance application will not result in loan forgiveness.

Federal PLUS Loan Interest Credit Benefit

For Federal PLUS loans held by LPP with a first disbursement date on or after July 1, 1999 and before July 1, 2006, UHEAA applies a credit to your Federal PLUS loan principal balance equal to the amount of interest paid by you during the first 12 months of repayment, subject to the following:

- The PLUS Loan Interest Credit Benefit is calculated using the actual amount of interest paid on the account during the first 12 months of repayment. Capitalized interest does not count toward the credit.

- Periods of deferment or forbearance do not extend the 12-month repayment period.

- The Federal PLUS Loan Interest Credit Benefit is calculated and applied to the loan principal balance within 60 days after the end of the first 12 months of repayment.

- If a borrower pays a Federal PLUS loan in full during the first 12 months of repayment, the credit will be applied to the account and then refunded as an overpayment within 60 days of payoff. Overpayments are refunded to the borrower by check. If the loan is paid in full, the interest credit is equal to the actual amount of interest paid on the account, including accrued interest paid by consolidation.

- If the loan is paid in full by consolidation and the consolidation loan is held by LPP, the credit is applied to the consolidation loan.

- Lump-sum payments cannot accelerate Federal PLUS Loan Interest Credit Benefit eligibility. The loan does not become eligible for this benefit until the first 12 months of repayment have elapsed or the loan is paid in full, whichever comes first.

Loans that are rehabilitated and repurchased are not eligible for the Federal PLUS Loan Interest Credit Benefit.

How and where do I return my forms?

You can return your forms by mail, fax, or e-mail. Our mailing address, e-mail address, and fax numbers are listed on our Contact Us page.

How do I apply for a job at UHEAA?

To apply for open positions at UHEAA or the Utah System of Higher Education, please visit our Jobs page.

How do I apply for financial aid?

Go to www.fafsa.ed.gov to apply for financial aid or check with your school's financial aid office for more information.

How is financial aid awarded?

Schools award aid on the basis of financial need (need-based) or on the basis of academic achievement, athletic ability, or other talents or abilities (merit-based). Most financial aid is need-based but is often awarded in combination with merit-based awards.

How is my Expected Family Contribution determined?

The financial information provided on the FAFSA is used by institutions and scholarship services, as well as state and federal financial aid programs, to determine what you and your family should reasonably be expected to contribute toward your educational costs. The standard formula evaluates your family's prior-year income, current assets, and expenses, and provides allowances. The result is your expected family contribution (EFC), which is the amount you and your family are expected to provide toward the cost of your education for that particular school year. The EFC of a dependent student is calculated on the basis of the student's and parents' resources. The EFC of an independent or self-supporting student is calculated on the basis of the student's own financial resources (and those of a spouse, if applicable).

How much financial aid can I get?

The total amount of need-based financial aid can't exceed the school's total Cost of Attendance minus the Expected Family Contribution.

If I have a guardian, should (s)he fill out the financial aid application?

Yes, if your guardian has been legally appointed by a court to support you with his or her own resources and that support will continue while you attend a post secondary institution. Otherwise, your guardian is not required to complete the form unless the school requests it.

If I want only my minimum monthly payment amount to withdraw, do I write my payment amount at the bottom of the automatic payment form by the dollar sign?

If you want only your minimum monthly payment to withdraw, you will not list any amount at the bottom of the form. You will only complete that portion of the form if you would like a set additional amount withdrawn, along with your minimum monthly installment.

Must I request that my deferment start on the day I submit UHEAA the forms?

You may back date an Unemployment Deferment six months in the past (provided you were unemployed or working less than full-time at the time). You may back date an Economic Hardship Deferment twelve months in the past (provided you met the requirements at the time). If your account is past due, we recommend that you request the date you first became delinquent as your deferment start date.

Origination Fee Credit Benefit

For Federal Stafford loans guaranteed by UHEAA between May 1, 2000 and June 30, 2009, UHEAA will credit to the borrower's principal loan balance, upon purchase of the loans by LPP, an amount equal to the Origination Fee originally deducted from the borrower's loan proceeds.

Federal Parent and Graduate/Professional PLUS guaranteed by UHEAA between May 1, 2000 and June 30, 2009, and on or before December 31, 2007, UHEAA will credit to the borrower's principal loan balance, upon purchase of the loans by LPP, an amount equal to the Origination Fee originally deducted from the borrower's loan proceeds.

Subject to the following:

Federal Stafford or Federal Parent and Graduate/Professional PLUS loans purchased by LPP, then immediately paid by a Federal Consolidation loan, are eligible for this credit. Federal Stafford or Federal Parent and Graduate/Professional PLUS loans paid by a Federal Consolidation loan prior to LPP purchasing the Federal Stafford or Federal Parent and Graduate/Professional PLUS loan are not eligible for this credit.

The Origination Fee Credit Benefit is applied to the account balance within 30-60 days of loan purchase by LPP.

The Origination Fee Credit Benefit can only be applied as a credit to the loan principal. The borrower may not receive a direct refund. In the case of a payment in full prior to receipt of the credit, the credit is posted to the principal loan balance and any overpaid amount is refunded to the borrower by check.

For loans disbursed on or before April 30, 2006, UHEAA will reduce the interest rate by 1.25%.

Timely Payment Benefit

- Federal Stafford or Federal Parent and Graduate/Professional PLUS loans that first entered repayment on or after January 1, 2008 and before April 30, 2008, UHEAA will reduce the outstanding balance by 2% if the borrower pays the first 48 monthly payments on time.

- Federal Stafford or Federal Parent and Graduate/Professional PLUS loans that first entered repayment on or after January 1, 1993 and before December 31, 2007, UHEAA will reduce the interest rate 2% if the borrower pays the first 48 monthly payments on time.

- Federal Consolidation loans originated on or after May 1, 2006 and for Federal Consolidation applications received prior to October 8, 2007, UHEAA will reduce the interest rate 1% if the borrower pays the first 36 monthly payments on time.

- Federal Consolidation loans originated on or after January 1, 1993 and before April 30, 2006, UHEAA will reduce the interest rate 1% if the borrower pays the first 48 monthly payments on time. Eligibility for this interest rate discount is subject to the following additional terms and conditions:

- The interest rate reduction will apply as long as LPP continues to hold the loan.

- The borrower’s loan is immediately disqualified from the Timely Payment Benefit if a payment is made 15 days or more after its due date.

- The Timely Payment Benefit can be earned only during the first 48 or 36 months of repayment (depending on the type of loan and the origination date).

- Periods of time when an account is in deferment or forbearance are not counted in the 48- or 36-month time period.

- Lump-sum payments count as eligible monthly payments if the due date is advanced. If the borrower instructs UHEAA to post a lump sum payment as a principal reduction and advises UHEAA not to advance the due date, the lump sum amount will count as one monthly payment. A borrower must make 36 or 48 timely payments on all open loans in order to qualify. A borrower may not pay a single open loan or a subset of open loans ahead of other loans in order to accelerate eligibility.

- Federal Stafford or Federal PLUS loans entering repayment, or Consolidation Loans originated, prior to January 1, 1993 do not qualify for this benefit.

- If a borrower consolidates Federal Stafford or Federal Parent and Graduate/Professional PLUS loans held by LPP on which this benefit has been earned, the borrower must re-qualify for the Timely Payment Benefit.

- If a borrower consolidates Federal Stafford or Federal Parent and Graduate/Professional PLUS loans, the statutory rate, not the reduced rate, will be used to calculate the weighted average of the Federal Consolidation loan.

Timely Payment Origination Fee Credit Benefit

For Federal Stafford or Federal PLUS loans guaranteed by UHEAA prior to May 1, 2000 and first disbursed on or after January 1, 1995, UHEAA will credit to the borrower’s principal balance an amount equal to the Origination Fees paid by the borrower in excess of $240 after the borrower pays the first 24 monthly payments on time, subject to the following:

- The Timely Payment Origination Fee Credit Benefit will apply as long as LPP continues to hold the loan.

- The borrower is allowed to make three late payments between 15 and 30 days after the due date without losing eligibility for the Timely Payment Origination Fee Credit Benefit.

- The borrower is immediately disqualified from the Timely Payment Origination Fee Credit Benefit if a payment is 31 days or more delinquent.

- The Timely Payment Origination Fee Credit Benefit is the net amount of origination fees charged to the borrower in excess of $240. To qualify for this benefit the total indebtedness of a borrower’s loans held by LPP must exceed $8,000.

- Periods of time when a loan is in deferment or forbearance are not used to calculate the 24-month time period.

- Lump-sum payments count as eligible monthly payments if the due date is advanced. If the borrower instructs UHEAA to post a lump sum payment as a principal reduction and advises UHEAA not to advance the due date, the lump sum amount will count as one monthly payment.

What does financial aid cover?

Financial aid must be used to pay the cost of education, which may include:
Tuition and Fees
Books and Supplies
Transportation
Housing
Food
Personal Expenses (Laundry, Clothes, etc. )

What does UHEAA do?

The Utah Higher Education Assistance Authority (UHEAA), a subsidiary of the State Board of Regents, is an agency of the State of Utah which administers Utah's student financial aid programs, including the student loan guarantee program and secondary market, state need-based financial aid, the Utah Educational Savings Plan Trust, and the Utah Engineering and Computer Sciences Loan Forgiveness Program. UHEAA's mission includes comprehensive outreach and information to assist citizens in planning for and financing postsecondary education, and special programs to keep student loans affordable and help borrowers avoid delinquencies and defaults.

What Financial Aid options are available to me?

Many students preparing for college and their parents are surprised to know how many options there are to pay for college. These include:
Loans
Grants
Scholarships
Work study

What is "Need Analysis?"

Need Analysis is a process used to determine if you have need for aid and, if so, how much need. Financial need is usually the difference between your Cost of Attendance and the amount of money your family is expected to contribute. The formula is:

Total Cost of Attendance (varies from school to school).

Minus Expected Family Contribution (generally the same regardless of school).

Equals Financial Need.

What is Auto-Pay?

Auto-Pay is an automatic Payment is a service for borrowers who prefer not to write checks to make their monthly loan payments. Once approved, UHEAA will electronically transfer your monthly installment, along with any additional amount you have requested, from your checking or savings account to your student loan account. This automatic transaction will happen on the same date each month.

What is need-based financial aid?

Aid that is based on a student's ability to pay is called need-based aid. The primary process for determining need is the Free Application for Federal Student Aid (FAFSA). This form is submitted by the student and his or her family every year. Applicants must provide financial information on these forms, which is processed according to a federal formula. Information from this form is provided to schools and is used to determine the type and amount of aid a student is eligible to receive.

What is need-based financial aid?

Aid that is based on a student's ability to pay is called need-based aid. The primary process for determining need is the Free Application for Federal Student Aid (FAFSA). This form is submitted by the student and his or her family every year. Applicants must provide financial information on these forms, which is processed according to a federal formula. Information from this form is provided to schools and is used to determine the type and amount of aid a student is eligible to receive.

What kind of student loan do I have?

The best option for determining what kind of student loan(s) you have is by logging into the National Student Clearinghouse. You may access your information in student portal of website called MyStudentCenter.

What kinds of financial aid are available?

Families are expected to be the primary source of education funding. Savings and contributions from friends and relatives are often used to help meet education costs. Beyond this primary source of funding, financial aid is available to those who qualify. Types of financial aid include:

- Scholarships
- Grants
- Loans
- Work Study
- Other Need-based Aid

Scholarships are awards usually based on skill, ability, talent, or achievement.

Grants are funds that generally don't have to be repaid. A recipient who fails to enroll, withdraws, or changes enrollment status may owe a refund or repayment depending on the school's refund/repayment policy. Grants are usually awarded according to an applicant's financial need.

Loans are another option for students. If a student decides to borrower, they should always borrower from the federal government first. The Free Application for Federal Student Aid (FAFSA) must be completed prior to be awarded any federal financial aid. Most student loans, some with government subsidies while in school, must be repaid.

Work study is also a form of financial aid. Work study is subsidized by the government allowing students to work at certain jobs on and off campus.

Other forms of need-based aid may include waivers of tuition and/or fees are offered by some schools. Military benefits may also be available to individuals (or to their dependents) who have performed military service or are preparing to enter the U.S. Armed Forces (ROTC).

Work-study programssubsidize student jobs on- or off-campus.

What programs are available through UHEAA

UHEAA administers the following state and federal student financial aid programs:
Utah Student Loan Guarantee Program (LGP)
Utah State Board of Regents Loan Purchase Program (LPP)
Utah Centennial Opportunity Program for Education (UCOPE)
Utah Educational Savings Plan Trust (UESP)
State Matching Grants for USHE Institutions' Campus-Based Federal Programs

These programs exist to provide financial and informational assistance to Utah residents and students attending Utah postsecondary institutions in making the best decisions about and obtaining financial access to higher education.

When do I apply for financial aid?

It's to your advantage to apply as early as possible. If you are a senior in high school, submit your FAFSA after January 1, as soon as your family has its tax preparation data. Students who complete and return the FAFSA by March 15 have the best chance of receiving so-called campus based financial aid. Deadlines for financial aid programs vary. If you don't know the deadline, check with the financial aid office or your high school counselor.

When will I know how much I will get?

If you apply for state and federal aid between January and April, you should be notified of your award(s) during the late spring or early summer.

Where are the UHEAA Calculators?

Please visit the Account Access page and view the lower right section labeled "Additional Resources."

Where can I find scholarships?

The best place to start is at the financial aid office of the college that you are planning on attending and/or the counseling center at the high school you are currently attending. They will have the most detailed information for scholarships relevant to your particular major or field of study.

Also, UHEAA is sponsoring a fall scholarship contest for students who attend a Regional Financial Aid between August and November in 2011 (Details). Some online resources are: www.UtahFutures.org, www.zinch.com, and www.fastweb.com.

Where can I find the Borrower Benefits Legal Disclosure?`

The UHEAA Borrower Benefits Legal Disclosure is available at the very lower part the our legal notice, or can be accessed directly at www.uheaa.org/benefits.

Where can I get further information about financial aid?

Your guidance counselor and the financial aid officer of the school(s) you're interested in attending are good starting points. Or you can visit www.fafsa.ed.gov for more information.

Which parent should complete the financial aid application if my parents are divorced or separated?

The parent with whom you lived the most during the past 12 months should complete the application. If you lived with each parent an equal length of time or lived with neither parent, the parent providing the most financial support for you during the last year should complete the form.

Who awards federal financial aid?

The school's financial aid office develops your financial aid package according to government guidelines and regulations. The financial aid package is usually a combination of grants, scholarships, work-study, and/or loans, and depends on the availability of funds.

Who is allowed to have information about my student loan account?

Those authorized to have information about a student loan account guaranteed by UHEAA are: the U.S. Department of Education, the school of attendance, the bank or credit union lending the money, the major credit reporting agencies, and any person(s) authorized by the borrower.

No information about a borrower's account can be given to an unauthorized third-party. Without the permission of the borrower, we cannot even confirm that a borrower has an account with us, or disclose any information specific to the borrower's account.

We can provide the same information we provide to a borrower to any authorized third party. However, while a borrower can request any and all changes to his/her account, an authorized third-party can only request changes to a borrower's address and telephone information.

To authorize an individual, the borrower needs to complete an "Authorization to Release Information to a Third Party" form and sign it with his/her legal signature. Click here for a link to this form. The form is also available for download from our website under the "Forms" link.

Who provides financial aid?

Schools, state and federal governments, and private organizations provide financial aid. You and your family have the primary responsibility for meeting educational expenses to the best of your ability.

Why are loans being transferred to the U.S. Department of Education?

Because of changes enacted by Congress, all student loans made after July 1, 2008 were transferred to the U.S. Department of Education. This is a potentially confusing and frustrating situation and we at UHEAA pledge to do all we can to help you manage all your student loans. We sent letters to all the affected borrowers showing which loans were transferred (and which weren’t, in some cases).

Why are there brackets for two dates on the Unemployment Deferment Form?

The first set of brackets is for the date you first became unemployed or started working less than full-time. The second set of brackets is for the date you would like the deferment to start. The second date cannot be earlier than the first.

Why sign up for Automatic Payment?

Auto-Pay is the easiest and most convenient way to make your student loan payments. - No more late fees. Since your installment amount is automatically withdrawn from your bank account, your payments will never be late (as long as the funds are available).

- Save money. No need to keep a large supply of stamps and envelopes, or pay for checks.

- Save time. Your time is valuable. The transaction is automatic, so there's no need to make a trip to the post office to mail your payment.

- Help the environment. Going paperless saves trees and reduces solid waste. Using this service may also qualify you for an interest rate reduction.