Understanding Financial Aid: Your Path to College
Students attending UHV will pay less than the listed tuition and fees thanks to the variety of financial aid offered by the institution. In fact, more than 70% of UHV students receive some form of aid each year.
Types of Financial Aid
Financial aid includes scholarships, grants, and loans that can help make your education more affordable.
- Student Loans are borrowed funds that help pay for college now but must be repaid with interest after graduation.
- Grants are funds set aside by the State of Texas, the federal government, and UHV for students who have documented financial need. They do not need to be repaid.
- Scholarships are awarded based on various criteria usually reflecting the values of the donor. Scholarships can be based on merit, need, demographics, degree program, athletic ability, and more. They do not need to be repaid.
- Work Study Programs, both federal and state, provide part-time jobs for students with financial need. Students work in order to earn money that pays for educational expenses.
- Waivers and Third Party Contracts provide third-party payments for all or part of a student’s tuition and fees. Waivers are considered a financial resource and are applied toward a student’s cost of attendance. Also, agencies outside the university may set up third-party billing arrangements to pay for all or a portion of a student’s tuition and fees.
- Veterans Benefits are funds to help veterans, their children, and spouses pay for college under Chapters 32 and 35, Title 38, U.S. Code. UHV is approved by the Texas Education Agency to award Veterans Affairs educational benefits.
UHV awards financial aid based on student eligibility and the availability of funds.
Determining Financial Need
Need-based financial aid is available to students with financial need to offset college costs. It’s awarded based on your Free Application for Federal Student Aid (FAFSA).
Submitting the FAFSA to the U.S. Department of Education’s processor is the first step in determining a student’s financial need. The processor will calculate your Expected Family Contribution (EFC), which measures your eligibility for federal student aid. Your EFC is then deducted from the University’s Cost of Attendance to determine your financial need.
Formula:
Cost of Attendance (COA) - Expected Family Contribution (EFC) - Scholarships & Other Resources = Need for Aid
Need-Based vs. Non-Need-Based Financial Aid
Need-Based
If you demonstrate financial need, you may qualify for grants and scholarships, often called “free money.” This is considered need-based aid and does not have to be repaid.
Non-Need Based
Other financial awards, including some scholarships, are given based on your academic merit, talent, major, athletic ability, and more. This is non-need-based financial aid.
Financial aid is awarded based on the information you reported on the FAFSA. In addition, information from the Records Office will help determine your eligibility for aid, including:
- Graduate or Undergraduate degree-seeking student
- Enrollment status
Any changes to your enrollment status may impact your financial aid awards and result in a balance owed to the university. Please report all changes to the Office of Financial Aid as soon as possible.
Your financial aid awards cannot be more than the estimated Cost of Attendance.
To learn more about applying for financial aid, types of financial aid, and keeping your financial aid, please watch our Financial Aid Orientation video.