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) - effective 07-08
  • $4,500 (Sophomores) - effective 07-08
  • $5,500/year (Juniors and Seniors)
  • $8,500/year (Graduate Students)
• Interest rate: varies with a maximum of 8.25 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.
• Amount: $400/year to $4,731/year
• Apply by completing the FAFSA.
• If you currently have a Pell Grant, get the latest information on it here.

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

Academic Competitiveness Grant (ACG)

• Grants are available to first and second year
• undergraduate full-time students.
• Must be Pell eligible.
• Must have successfully completed a rigorous high school program.
• Amount: up to $750 for first year students; up to $1300 for second year students.
• Second year students must have maintained a cumulative GPA of at least 3.0.
• Apply by completing the FAFSA.

National Science and Mathematics Access to Retain Talent Grant (SMART Grant)

• Grants are available to third and fourth year undergraduate full-time students.
• Must be Pell eligible.
• Only specific majors within physical, life, or computer sciences, mathematics, technology, or engineering or in a foreign language are eligible. Health professions are not included.
• Amount: up to $4,000 for each of the third and fourth year.
• Must maintain a cumulative GPA of at least 3.0 in major coursework.
• Apply by completing the FAFSA.

• 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.