Need-Based Aid for Freshmen and Transfer Students
To be considered for all of the aid listed below, you must:
- Be accepted for admission to the University of Evansville by the Office of Undergraduate Admission,
- Have recently graduated from high school or transferred to UE from another college,
- Be enrolled full-time, unless noted otherwise,
- Be seeking your first bachelor's degree, and
- Have completed 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).
Second Bachelor's Degree: Students who have already earned a Bachelor's Degree and wish to seek a second Bachelor's Degree are eligible ONLY for the Federal Direct Stafford Loan.
Federal Pell Grant
A federal grant for students demonstrating high financial need. Available for full-time or part-time students. Federal regulations limit a student's use of the Federal Pell Grant to the equivalent of six years of full-time eligibility.
Federal Supplemental Educational Opportunity Grant (SEOG)
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.
The University may provide a grant (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.
State Of Indiana Grants
If you are an Indiana resident and demonstrate financial need, you may qualify for the Frank O'Bannon Higher Education Award to attend a public Indiana college or the Frank O'Bannon Freedom of Choice Award (FOC) to attend a private college. The maximum Freedom of Choice Award (FOC) at the University of Evansville for 2016-17 is $7,400. State grant amounts vary based upon both FAFSA EFC and whether students earned the Indiana Academic Honors/Technical Honors Diploma during high school. Students must complete the FAFSA each year so that it is received by the federal processor no later than March 10. Students are eligible for a total of 8 semesters of state grant funds from all institutions attended. Students who used state aid for the first time beginning in the fall of 2013 must achieve minimum credit hours completion standards. For more information visit http://www.in.gov/che/4501.htm.
Twenty-First Century Scholars Program
This grant program is available to Indiana students who enrolled in the program during middle school. The program guarantees free tuition to a public college in Indiana for students who successfully fulfill their Twenty-first Century Scholar pledge and meet State eligibility criteria. 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 receive $8,041 in 2016-17. Twenty-first Century Scholars who used state aid for the first time beginning in the fall of 2013 must achieve minimum credit hours completion standards. For more information visit http://www.in.gov/che/.
Federal Work Study Program
This program allows students to work on campus to earn money for educational expenses. Students work an average of 7 hours per week, earn $7.25 per hour, and are paid bi-weekly. This is a need-based program and because funds are limited, not all eligible students will receive an award.
Federal Perkins Loan
This federal loan is offered to a limited number of our students whose FAFSAs indicate a large, unmet financial need. The maximum loan is $5,500 per year, but UE rarely offers this much to one student because of limited funds. These loans are interest-free while the student is in school and have a grace period of nine months after graduation or withdrawal before repayment begins. Repayment is made monthly with an interest rate of five percent.
Federal Nursing Loan
The Federal Nursing Loan is drawn from very limited funds and is available only to select students with significant financial need who are nursing majors. Maximums are $3,300 for freshman and sophomore years and $5,200 for junior and senior years. It is interest-free for as long as you are in school and carries a five percent interest rate thereafter. Repayment begins nine months after graduation.
Federal Direct Loan
All students who file the FAFSA qualify for the Federal Direct Loan program. The Direct Loans are currently fixed at a 3.76 percent interest rate with repayment beginning six months after graduating or after dropping below half-time enrollment status. The type of Direct Loan a student is awarded is based on financial need remaining after all scholarships and grants have been awarded. The need-based portion of the loan, called the Subsidized Direct Loan, is interest-free while the student remains enrolled at least half-time. The balance of the eligibility is awarded in an Unsubsidized Direct Loan. Interest accrues as of the date of disbursement. The maximum amount that can be borrowed in this program is based on the student’s academic level (freshman: 0-29 credit hours earned, sophomore: 30-59 credit hours earned, and junior/senior: 60 hours or more). See chart below for amounts.
Annual Direct Loan Limits
|Academic Level||Dependent Undergraduate Students||Independent Students|
|Freshman (0-29 credits earned)||$5,500 (max $3,500 subsidized)||$9,500 (max $3,500 subsidized)|
|Sophomore (30-59 credits earned)||$6,500 (max $4,500 subsidized)||$10,500 (max $4,500 subsidized)|
|Junior and Senior (60+ credits earned)||$7,500 (max $5,500 subsidized)||$12,500 (max $5,500 subsidized)|
|Graduate / Professional Students||N/A||$20,500 (unsubsidized)|
|Undergraduate||$31,000 (max $23,000 subsidized)||$57,000 (max $23,000 subsidized|