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Need-Based Financial Aid

Types of Need-Based Aid

To apply for all of the aid listed below, you must:

  1. Be accepted for admission to the University of Evansville to seek a degree, and
  2. 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 Program in 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 2009-10 academic year, Federal Pell Grants range from $976 to $5,350. For 2009-10 students must have a FAFSA EFC (eligibility index calculated by the FAFSA) of 4617 or lower in order to be eligible. Filing the FAFSA is all that is necessary to apply. Grants do not have to be repaid. Pell Grant recipients may also be eligible for two new federal grants:

Federal Supplemental Educational Opportunity Grant (SEOG) — (T)

Funds for this program are limited, so grants are awarded only to a small number of students who have already qualified for the Pell Grant. SEOG awards range from $100 to $4,000 a year. No additional application is necessary.

Federal Work Study Program — (T)

This program allows you to work on campus to earn dollars for educational expenses. Most jobs pay $8.00 per hour. You would work an average of 7 hours a week and receive payroll checks twice each month, earning about $1,700 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 available only to the neediest of students. Qualified students can borrow up to $4,000 a year and repayment begins nine months after graduation. The loan is interest-free while you are in college; interest during repayment is five percent.

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.

Federal 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 Level DPT 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

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 2009-10 is $7,584. State grant amounts vary depending on whether students are high school Indiana Academic Honors Diploma recipients, fulfilling Core 40 requirements or neither. To apply for these grant programs for 2010-11, Indiana residents must complete the 2010-11 FAFSA so that it is received by the federal processor no later than March 10, 2010.

Twenty-First Century Scholars Program — (T)

This grant program is available to Indiana students who enrolled in the program during the 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. A unique program created by the University of Evansville — the First Choice Achievers Award — considers academically talented Twenty-first Century Scholars for a competitive UE scholarship which supplements the state aid to cover UE's full tuition. Some students qualify for additional financial aid from federal or outside sources which may be used toward fees, room, meals, and books.

Candidates must apply for admission to the University of Evansville and have their high school counselor certify their status as a Twenty-first Century Scholar. UE' 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 Scholarship (KIPS). This scholarship will match a student's eligibility for the Kentucky Educational Excellence Scholarship (KEES), but is based on financial need. Eligibility for this award will be 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.