Federal Financial Aid

These are Title IV programs administered by the U.S. Dept. of Education: 

Federal Pell Grant

Up to the current annual maximum

This is the largest grant program funded by the Federal Government.  It is available to part-time and full-time undergraduate students who show financial need.  Once students earn a bachelor’s degree, they are no longer eligible to receive this grant.

Federal SEOG Grant

Annual award amounts vary due to availability

This is a secondary grant program for students who have full Pell Grant eligibility and who are enrolled at least half-time.  Funding is limited.  Once students earn a bachelor’s degree, they are no longer eligible to receive this grant.

Federal Work-study Program

Award based on weekly hours worked during year

Funds are awarded to undergraduate and graduate students who show financial need.  On-campus jobs pay $10.00 per hour and students must do their own job search.  Most jobs are found within the students’ departments in order to build practical work experience.

Federal Stafford Loans
Awards are based on grade level in school

The Stafford loans must be repaid.  The subsidized Stafford loans are available to students who show need.  For those students who do not show need, the unsubsidized Stafford loans are available.  Students must be enrolled at least half-time to be eligible.  Both types of loans are low interest loans with a fixed interest rate of 6.8%.  While enrolled at least half-time, the Federal Government pays the interest on the subsidized Stafford loan.  The student is responsible for paying or capitalizing the interest on the unsubsidized Stafford loan.  Both types of loans go into repayment if the student falls below half-time enrollment.

Federal PLUS Loan Program for Parents

Up to the cost of attendance minus other aid awarded

This low interest loan is taken out by parents of students who are considered dependent on their Student Aid Reports (SAR).  The fixed interest rate is 8.5% and is available for parents with a good credit history.  Repayment of the loan begins 60 days after the final disbursement of the loan period.

Graduate PLUS Loans

Available to Graduate students only

This loan is taken out by Graduate students enrolled at least half-time and, combined with other aid, cannot exceed the Cost of Attendance.  The fixed interest rate is 8.5%.

Federal Perkins Loan

Awards based on funds available

This is a low interest (5%) loan awarded to students who have exceptional financial need.  The maximum allowable award is $4000 per year; repayment begins 9 months after falling below half-time status.  This loan has special cancellation provisions.  Please call the UAMS Loan Collections Office at 686-6128 for more information about cancellation provisions.

The programs below are Title VII programs administered by the U.S. Dept. of Health and Human Services:

Health Professions Student Loans

Available to College of Pharmacy students only

Students pursuing the Pharm.D. degree who show financial need, provide parent tax information, and are enrolled full time are eligible to receive this loan.  Funds are awarded based on availability; the maximum allowable is $4000 per year.  The interest rate is 5% and repayment begins 12 months after falling below half-time status.

Nursing Student Loans

Available to College of Nursing students only

College of Nursing students pursuing the Bachelor of Science in Nursing degree who show financial need and are enrolled at least half-time are eligible to receive this loan.  Funds are awarded based on availability; the maximum allowable is $2500 per year.  The interest rate is 5% and repayment begins 9 months after the student falls below half-time status.