Financial Aid

Financial Aid funds are automatically applied to your institutional charges. Any
remaining balance is given to the student to use for their needed educational purposes.
You must complete the “Authorization to Credit Accounts” form (only required once)
before we can disburse your financial aid. Remember, you must be enrolled in at least
six credits to receive any loan funds.

It generally takes three to six weeks to complete the full financial aid process. Check
your MyUT account to follow your FAFSA progress. If you are selected for verification,
you will be required to submit additional documentation before we can complete your
financial aid file. We send your award notification to your student email account. Please check
this account frequently.

You are required to provide your parent’s income information until you meet the
Department of Education’s criteria to become an independent student. You must be
able to answer ‘Yes’ to one of the following items to be deemed independent from your
parents:

• 24 years of age (born before January 1, 1998 for the 2021-22 award year)
• Married as of the date you first began to fill out the FAFSA
• At the beginning of the 2021-22 school year, will be working on a master’s or doctorate program (MA, MBA, MD, JD, PhD, EdD or graduate certificate). Note: Utah Tech University does not currently offer any of these types of degrees.
• Have dependents other than your spouse
• You are an Orphan or Ward of the Court
• You are a Veteran of US Armed Forces
• Do you have children who will receive more than half of their support from you between July 1, 2021 and June 30, 2022?
• Do you have dependents (other than your children or spouse) who live with you and who receive more than half of their support from you, now and through June 30, 2022?
• At the time you turned age 13, were both your parents deceased, were you in foster care or were you a dependent or ward of the court?
• Are you or were you an emancipated minor as determined by a court in your state of legal residence?
• Are you or were you in legal guardianship as determined by a court in your state of legal residence?
• At any time on or after July 1, 2020, did your high school or school district homeless liaison determine that you were an unaccompanied youth who was homeless?
• At any time on or after July 1, 2020, did the director of an emergency shelter or transitional housing program funded by the U.S. Department of Housing and Urban Development determine that you were an unaccompanied youth who was homeless?
• At any time on or after July 1, 2020, did the director of a runaway of homeless youth basic center or transitional living program determine that you were an unaccompanied youth who was homeless or were self-supporting and at risk of being homeless?

Federal Pell grants pay according to your enrollment status. For example, a full-time
student received the full amount and a half-time student receives half. Your Federal Pell
grant is based on the credits that appear on your transcript, which are the classes you
are enrolled in on the last day to add. Dropping below 12 credits will require immediate
repayment of these grants.

Your MPN will be available for your electronic signature here. It will be available
approximately 24-48 hours after you accept your Federal Direct Student Loans on the
Utah Tech website. Remember, if this is your first Federal Direct Student Loan at Utah Tech, you
must complete Entrance Loan Counseling. You need to complete Entrance Loan
Counseling only once for you Federal Direct Student Loans at Utah Tech. You will generally
only need to sign the MPN once unless you defaulted on previous student loans or have
declared bankruptcy after you signed your MPN. Make sure you keep your current
mailing address updated with the U.S. Department of Education once you have signed
your MPN.

Remember, it takes approximately four to six weeks to fully process your financial aid.
You are responsible for payment of your tuition, fees and all other debts at the time
they are due. If you do not have the finances to pay your tuition, Utah Tech works with an
outside agency to provide a tuition loan. Please refer to the Utah Tech Tuition Payment Plan.

A Federal Direct subsidized student loan is interest free while you are enrolled in school
at least half time. You also have a six month grace period once you graduate or stop
attending school, before you begin repaying the loan, note: interest will accrue during
your grace period. The Federal Direct unsubsidized student loan begins to accrue
interest at the time the loan is disbursed. Unless you make the quarterly interest
payments, the interest will capitalize which will cause your loan payments to be larger
once you begin to repay your loan. For more information, refer to the Federal Student
Guide.

Yes, you are allowed to change your marital status from single to married. The deadline
for this is April 1st of the currently enrolled academic year. If you have questions
concerning this rule, please feel free to contact the Utah Tech Financial Aid office. You will be
required to submit some required documentation.

If you withdraw from Utah Tech University before the semester begins and financial aid
has not paid your tuition, no fund will transfer to your account. If you withdraw from
school before or after school starts and financial aid has been posted to your account,
the financial aid office is required to perform a Return to Title IV funds (See Policy
section) calculation on your account. Once this calculation has been performed, you
may owe money back to Utah Tech. Remember, it is important that you must officially
withdraw from your Utah Tech courses. If you fail to officially withdraw, you will receive F
grades on your transcript.

Some students may be eligible to receive aid during the summer semester. Please
contact the Utah Tech Financial Aid office to enquire about your eligibility.

The law (FERPA) requires us to protect your information. If you would like us to speak
about your aid to your parents, spouse, or anyone else, you can give them permission
by submitting a Release of Student Information form. We can then release your
information only to those individuals listed on the form.

Yes. The Tuition Payment Plan will allow eligible students to pay their student account balance in installments. The balance must be paid in full by the end of the semester. There is an enrollment fee charged by Touchnet for a Tuition Payment Plan.

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