Need-Based Options

• Another big benefit of loans is that UAB is a federal direct lender. That means UAB lends funds to you directly from the U.S. Treasury, so you don’t have to complete bank loan forms or wait for checks to arrive from lenders. You get the money right when you need it.
• These loans are sponsored by the federal government, but UAB determines your eligibility and handles processing. All first-time borrowers are required to complete entrance counseling online.

• Maximum amount:
  • $3,500 (Freshmen)
  • $4,500 (Sophomores)
  • $5,500/year (Juniors and Seniors)
  • $8,500/year (Graduate Students)
• You must enroll on at least a half-time basis to receive a Stafford Loan for each term of the loan.  Six (6) semester hours for Undergraduate students and five (5) semester hours for Graduate students.
• Interest rate: 6.8 percent
• Repayment period: several plans available
• Repayment and interest charge are deferred until six months after graduation or when your enrollment status drops below half-time (less than 6 credit hours for undergraduates, less than 5 for graduate students). An exit interview is required before you begin repayment.
• Apply by completing the FAFSA

• Loans are available for undergraduate and graduate students.
• Maximum amount: $2,400/year
• Interest rate: 5 percent
• Repayment period: up to 10 years
• Repayment and interest charge can be deferred until nine months after graduation or when your enrollment status drops below half-time (less than 6 credit hours for undergraduates, less than 5 for graduate students).
• Priority is given to students showing exceptional financial need.
• Apply by completing the FAFSA.

• Grants are available to undergraduate students without a baccalaureate degree.
• Beginning July 1, 2012, students are limited to 6 years of Pell eligibility based on full-time enrollment. The calculation of the duration of a student's eligibility will include all years of the student's receipt of Pell Grant.  Remaining Pell Grant eligibility is available on the National Student Loan Data Base at www.nslds.ed.gov.
• Pell Grants are prorated based on enrolled hours
  • 100% of eligible award if full-time (12 hrs)
  • 75% of eligible award if three-quarter time (9-11 hrs)
  • 50% of eligible award if half-time (6-8 hrs)
  • 25% of eligible award if less than half-time (1-5 hrs)
• Apply by completing the FAFSA.

• Grants are available to undergraduate students without a baccalaureate degree.
• Amount: $500/year to $2,000/year
• Apply by completing the FAFSA.

Through the federal work-study program, you can earn money to pay for college while gaining valuable work experience for your future.

• Work-study is available for undergraduate and graduate students.
• Pay: at least minimum wage, but possibly more depending on the job and your experience
• Average schedule: 15 hours per week
• Examples of jobs may include administrative assistant, computer operator, faculty assistant, library aide, or tutor.
• Apply by completing the FAFSA. If you are eligible, choose from the list of available jobs by clicking here.  You then contact the department to set up an interview.

If you are an out-of-state student (not a legal resident of Alabama), look for similar programs offered by your home state. Contact the agency that coordinates aid programs in your state for more information.

• Amount: $400/year to $1,200/year
• Apply by completing the FAFSA.

• This program is open to students from families in which the head of the household is blind.
• Apply by contacting ACHE at (334) 242-2274. Submit your application within two years of your high school graduation.