Types of Need-Based Aid
To apply for all of the aid listed below, you must:
- Be accepted for admission to the University of Evansville to seek a degree, and
- Complete the Free Application for Federal Student Aid (FAFSA). Be sure to complete the FAFSA that governs the academic year you intend to enter UE and list our code on your FAFSA (001795).
Eligibility for the aid listed below will vary, depending upon the UE degree you are pursing and your student type. The following key indicates the student types that UE will consider for the various forms of aid listed below.
T = Traditional Students — UE defines traditional students as those who are pursuing their first undergraduate degree on a full-time basis. They have been admitted to UE through the Office of Undergraduate Admission and have either recently graduated from high school or transferred to UE from another college.
A = Adult Undergraduate Students — This includes all students who have been admitted to UE by our Center for Adult Education. These degrees include Organizational Leadership, Global Leadership, and Bachelor Degree Completion/Individualized Studies. Other students in this category are those pursing the RN to BSN or Transition to Teaching programs.
S = Second Bachelor's Degree — These students have earned one undergraduate degree and are pursuing a second undergraduate degree.
G = Graduate Students — Students who have a Bachelor's Degree and are enrolled in the following programs: Master of Public Service Administration, Master of Science in Computer Science and Engineering, Health Services Administration (not including those pursing five-year concurrent BS/MS degree at UE), last two years of Doctor of Physical Therapy program, and Executive MBA.
Federal Pell Grant — (T, A)
For the 2011-12 academic year, Federal Pell Grants range from $555 to $5,550. For 2011-12 students must have a FAFSA EFC (eligibility index calculated by the FAFSA) of 5273 or lower in order to be eligible and may NOT have earned the first Bachelor's Degree. Grants do not have to be repaid.
Federal Supplemental Educational Opportunity Grant (SEOG) — (T)
Funds are limited, and students must be Pell-eligible to qualify. SEOG awards range from $100 to $4,000 a year. No additional application is necessary. In most cases, the student must have an EFC of zero to qualify.
Federal Work Study Program — (T)
This program allows you to work on campus to earn dollars for educational expenses. Most jobs pay $7.25 per hour. You would work an average of 7 hours a week and receive payroll checks twice each month, earning about $1,525 per year. Not all eligible students are awarded work because funds are limited.
Federal Perkins Loan — (T)
This program also has limited funding, and loans are offered only to the neediest students. Repayment begins nine months after graduation. The loan is interest-free while you are in college; interest during repayment is five percent. Terms and conditions of the Federal Perkins Loan (MPN) and Rights and Responsibilities can be found here.
Federal Nursing Loan — (T)
Like the Perkins Loan, the Nursing Loan is drawn from very limited funds. It is available only to select students with significant financial need who are nursing majors. Maximums are $2,500 for freshman and sophomore years and $4,000 for junior and senior years. It is also interest-free for as long as you are in school and carries a five percent interest charge thereafter. Repayment begins nine months after graduation. Terms and conditions of the Federal Nursing Loan (MPN) can be found here.
Federal Direct Stafford Loan — (T, A, S, G)
All students who file the FAFSA may use the Federal Direct Stafford Loan. This loan is offered in the student's name and repayment begins six-months after college. The amounts listed below in the first column may be subsidized (interest does not accrue while the student is in college) or unsubsidized (the student is responsible for interest that accrues during college). Eligibility for the subsidized Stafford Loan is determined by the FAFSA, variables related to the student's cost of attendance, and other financial aid received. In addition to the initial amount based on grade level, all students may borrow an additional $2,000, which is always unsubsidized. Independent students may borrow additional unsubsidized loan, indicated with an *asterisk.
| Amounts based on grade level.** | Additional Unsubsidized Eligibility | Total Annual Eligibility | |
| Freshman Year | $3,500 | $2,000 ($6,000 if independent*) | $5,500 ($9,500*) |
| Sophomore Year | $4,500 | $2,000 ($6,000 if independent*) | $6,500 ($10,500*) |
| Junior and Senior Years | $5,500 | $2,000 ($7,000 if independent*) | $7,500 ($12,500*) |
| Graduate/Professional Students | $8,500 | $12,000 | $20,500 |
** Grade Level amounts may be subsidized or unsubsidized, based on financial need.
The University of Evansville will notify admitted students who have filed the FAFSA about their type and amount of Direct Stafford Loan eligibility. Application forms will also be provided.
When the Stafford Loan enters repayment, students may have principal amounts which are accruing interest at different rates. However, for estimation purposes, below is a sample repayment chart for the Stafford Loan Program, assuming the maximum interest rate.
| Sample Repayment Chart for Federal Stafford Loans (Based on 6.8% interest rate during repayment) |
||||
| Amount Borrowed | Number of Payments | Monthly payment after graduation | ||
| 5,000 | 120 | 58 | ||
| 10,000 | 120 | 115 | ||
| 20,000 | 120 | 230 | ||
| 30,000 | 120 | 345 | ||
Terms and conditions of Federal Student Loans (Stafford and GradPLUS) are listed on the Master Promissory Note (MPN) signed by a borrower accepting the loan.
- Rights and Responsibilities for Federal Direct Stafford Loan.
- Rights and Responsibilities for Federal Graduate PLUS Loan.
State Of Indiana Grants — (T, A)
If you are an Indiana resident, you may qualify for the Frank O'Bannon Higher Education Award to attend either a public or private Indiana college. An additional award, the Frank O'Bannon Freedom of Choice Grant, is available for students attending a private college and who qualify for the Higher Education Award. The maximum combined grant at the University of Evansville for 2011-12 is $7,056. State grant amounts vary depending on whether students earned the Indiana Academic Honors/Technical Honors Diploma at high school. To apply for these grant programs for 2012-13 Indiana residents must complete the 2012-13 FAFSA so that it is received by the federal processor no later than March 10, 2012.
Twenty-First Century Scholars Program — (T)
This grant program is available to Indiana students who enrolled in the program during the sixth, seventh or eighth grade. The program guarantees free tuition to a public college in Indiana for students who successfully fulfill their Twenty-first Century Scholar pledge. Although the guarantee of full-tuition does not apply to private colleges, such as the University of Evansville, Twenty-first Century Scholars who attend the University of Evansville received $7,056 in 2011-12 from a combination of all state grants. See information above (State of Indiana Grants) for eligibility information. The University of Evansville's application fee is waived for Twenty-first Century Scholars.
UE Gift Assistance — (T)
The University may provide grants (aid that does not have to be repaid) to students who demonstrate need according to the FAFSA. We have many programs with a variety of titles, some honoring the generous friends and alumni whose gifts have made this aid possible. Eligibility for UE need-based gift aid is established by information we gather on the Application for Admission and the FAFSA. UE gift assistance is awarded only at the time of matriculation to UE.
One program available to first-time college students at the University of Evansville is called the Kentucky-Indiana Partners (KIP) Grant. UE will award up to $2,000 for those who demonstrate unmet financial need at UE. Eligibility for this award is determined by the Free Application for Federal Student Aid (FAFSA) and relative academic information. Students will receive notification through their Financial Aid Notification Letter.
Another UE need-based aid program is the Minister's Dependent Grant, which offers up to $2,000 in gift assistance to children of United Methodist pastors who demonstrate financial need.
