The Award Process

When you receive your Student Aid Report (SAR), you will know the UAMS Financial Aid Office has received your report as well.

There is a number on your report called “Estimated Family Contribution” (EFC). This number helps our office know your financial aid eligibility.

Your “Cost of Attendance” (COA) is determined by the program in which you enroll. The COA figure includes not only estimated costs for tuition, fees, books, and supplies, but also allowances for living expenses such as room, board, transportation, and personal expenses. The COA is an estimate of what it will cost for you to attend school and pay your living costs for the academic year.

“Financial Need” is calculated by subtracting your EFC from you COA. Below is an example.

COA                 21,647
EFC                       458
Financial Need  21,189

The majority of financial aid resources awarded to students are dependent upon the financial need calculation. “Need-based” aid would be awarded in this example.

After you have received your award letter and processed the aid you have been awarded, funds will be available to you on the day of registration or dates thereafter. By Federal law, financial aid cannot be disbursed to you before registration.

We are here to help you and we will do our best to provide you with optimum funding; however, please remember that state and federal laws mandate many of our policies and procedures. Our office undergoes a rigorous audit annually, and there are portions of the process where we have no discretion in interpreting or applying applicable state and federal regulations. Occasionally, the answers we provide to your questions are not what you would like to hear, but we can assure you that no question will go unanswered and we are here to look out for your interests at every point in the process.