Financial Assistance

Financial Aid Office

Harris Hall, third floor, Monticello
P. O. Box 3470
Monticello, AR 71656
Telephone: (870) 460-1050
Toll Free 1-800-226-2643

The types of aid administered by the Financial Aid Office include grants, work-study, student loans, and scholarships, which are described below in detail. The aid amounts offered are based on federal and state eligibility requirements, availability of funds, and in most cases FULL‐TIME (undergraduate: 12+ hours / graduate: 6+ hours) enrollment. Students are encouraged to monitor WeevilNet and their official UAM email address for important financial aid updates and information.

Enrollment Policy

All financial aid offers are based on full-time enrollment. Students are required to notify the Financial Aid Office if they will be less than full-time. Enrollment statuses are calculated as follows:

UNDERGRADUATES

GRADUATES

Federal student loan eligibility requires a minimum of half-time enrollment (undergraduate: 6 hours / graduate: 3 hours).

Enrollment at Census

For financial aid purposes, the UAM Financial Aid Office will consider the enrollment census data as the student’s official enrollment status. Enrollment census occurs on the 11th day of class (5th day of class for Summer), and financial aid may be adjusted to reflect the student’s official enrollment status at that time. If a student’s enrollment has changed and they have not notified the Financial Aid Office since applying for financial aid and/or finalizing registration with the UAM Cashier’s Office, financial aid offers may be subject to change after the enrollment census date.

Credit hours that are added by override will not count towards a student’s financial aid enrollment status unless the override is completed and the student is registered for class by the 11th day of class for the applicable semester (5th day of class for Summer).

Applying for Financial Aid (FAFSA)

Students may apply for all federal aid programs by completing the Free Application for Federal Student Aid (FAFSA) at www.studentaid.gov. FAFSA applications can take up to one week from submission to process and be sent to UAM. Students are encouraged to apply early because some types of aid have limited funding.

To receive aid, students must be enrolled in an aid eligible program of study and meet all other eligibility requirements (i.e. Satisfactory Academic Progress [SAP], have remaining Pell Grant Lifetime Eligibility, or be within the Direct Loan annual and aggregate limits, etc.). Students eligible for federal financial aid will be sent an offer notification to their official UAM email address.

Students enrolled in Certificate of Proficiency and Graduate Certificate programs are not eligible for federal financial aid.

Verification of applicant data may be required. No financial assistance will be offered until all required documentation is received and the application data is determined to be correct. Students selected for verification will be notified on WeevilNet and at their official UAM email address. Processing times for verification average 2-3 weeks from the date that all requested documentation has been received.

Deadline

This date occurs four weeks prior to the beginning of each term/session. Federal financial aid is awarded at the beginning of the semester as long as UAM has received a FAFSA with an official EFC and school code of 001085. If selected for verification, all required documentation should be received by this date. Although funding for certain types of aid is limited, students are encouraged to apply even if the priority deadline has passed. Students that turn in documentation after the deadline to finalize their bill will need to set up payment arrangements with the Cashier’s Office, if sufficient aid has not been offered from other sources.

Satisfactory Academic Progress (SAP) Policy

To be eligible for financial aid at the University of Arkansas at Monticello, students must meet all three (3) qualitative and quantitative standards of the Satisfactory Academic Progress (SAP) policy below, even if no financial aid was previously received. Students not meeting any one of the SAP standards will be designated as not meeting SAP, with notification sent to their UAM email account.

1. GPA

2. Pace

Students must successfully complete 67% of cumulative hours attempted. Cumulative hours attempted include hours earned, remedial hours earned, repeated hours, transfer hours, and grades of W, F, AU, and I. Cumulative hours earned do not include grades of W, I, AU, or F.

3. Maximum Timeframe

Students must graduate within 150% of the credit hours required for their program of study. A general guide for maximum credits is shown below, although students should refer to the specific credit requirements for their UAM program of study.

The Financial Aid Office evaluates SAP at the end of the Fall, Spring, and Summer terms. All sessions within the summer term will be evaluated as one term. Those students not meeting the requirements stated above will be placed on Financial Aid Warning. Students may continue to receive financial assistance during the Warning period. If all three satisfactory academic progress standards have not been met by the end of the Warning period, the student will be Denied assistance from federal, state, and institutional sources. Students admitted to UAM on Conditional Academic Standing will be placed on Financial Aid Warning. All notices are sent to the student’s official UAM email account.

To view the full policy in detail, including the appeal process for students deemed ineligible for financial aid due to not meeting satisfactory academic progress standards, visit: https://www.uamont.edu/financial-aid/Satisfactory-Academic-Progress-Policy.html

Processing times for students that submit SAP appeals average 2-3 weeks from the date that the required documentation is received.

Disbursements

Financial aid disbursements are made by crediting the student’s account. Students may have refundable financial aid awards that exceed their institutional charges. Refund dates are posted by term on the Important Financial Aid Links page.

Withdrawals & Return of Title IV Funds

Students who receive Title IV aid and do not complete more than 60% of the semester for which they are enrolled may be required to return a portion of the federal funds received. In most cases, the withdrawal date for students who officially withdraw will be the actual date of withdrawal as determined by the Registrar’s Office. Students who cease attending without officially withdrawing are considered “unofficial withdrawals.” It is recommended that students contact the Financial Aid Office before withdrawing to determine the effect that may have on their financial aid.

Refunds

Remaining credit balances, if any, will be refunded to eligible students. Not every student will have a credit balance and not all anticipated credit balances will occur at the same point in the term. The type of aid as well as tuition and fees, books and supplies, room and board, and other miscellaneous charges will vary between students based on enrollment, on‐campus purchases, and housing/meal plans. Please monitor your financial aid and refund status via WeevilNet.

Multiple processes by various departments are required in order for your financial aid to move from anticipated aid to your student account. We ask for your patience and that you keep in mind that there may be times when WeevilNet displays your aid as authorized, but not disbursed, or disbursed, but not applied to your student account.

Types of Financial Aid

Grants (are not repaid)

The Federal Pell Grant is awarded to students with demonstrated financial need who are pursuing their first undergraduate degree. Amounts are based on information provided on the FAFSA and enrollment status. The federal government limits a student’s eligibility to 600%, or six years of full-time enrollment. Visit https://bit.ly/3rv3JIf for more information.

The Federal Supplemental Educational Opportunity Grant (FSEOG) is offered to undergraduate students with exceptional financial need. Priority is given to Federal Pell Grant recipients and funding is limited.

Work-Study

The Federal Work Study program provides eligible undergraduate or graduate students an opportunity to work at an on‐campus or community service job to earn money towards educational expenses. Students may work a maximum of twenty hours per week and are paid minimum wage. Earnings from federal and institutional work-study are paid to students twice each month by direct deposit to a financial institution. Career Services will post student employment openings on the job board found online at https://www.uamont.edu/jobs/students-jobs/index.html

Loans (must be repaid with interest)

Completion of the FAFSA is required to receive federal student loans. To qualify, students must be enrolled at least half-time (undergraduate: 6 hours / graduate: 3 hours) and attending classes that are required for their eligible program of study. Loan amounts are subject to annual and aggregate loan limits. Please see www.studentaid.gov for more detailed information on the federal student loan programs available.

The Federal Direct Subsidized Loan is need-based and the government pays the interest while students are enrolled at least half-time.

The Federal Direct Unsubsidized Loan is not based on financial need and students are responsible for the interest, which begins to accrue upon the first loan disbursement.

The Federal Direct Parent PLUS and the Federal Direct Grad PLUS are credit-based loans for parents of dependent undergraduate students and in limited cases, loans for Graduate students. These loans are unsubsidized and the borrower is responsible for paying all interest charges. PLUS loan amounts are subject to the cost of attendance. Please refer to www.studentaid.gov for more detailed information.

Accepting Loan Offers

Students may accept, reduce or decline the amount of loan offers on WeevilNet. Loan fees are deducted from each loan disbursement, and loans come with a specific interest rate, borrowing terms, and conditions. Prior to the disbursement of a loan, students must complete the following on https://studentaid.gov/mpn:

1. Complete a Master Promissory Note (MPN)
2. Complete Loan Entrance Counseling

Students that graduate, withdraw, or drop below half-time status at UAM, are required to complete Exit Counseling at https://studentloans.gov/myDirectLoan/index.action.

State Aid Programs

Arkansas state scholarships require completion of the YOUniversal scholarship application. Students and parents may visit the Arkansas Department of Higher Education website for more information. It is a student’s responsibility to notify the Financial Aid Office at finaid@uamont.edu if they receive a scholarship from an organization outside of the university. UAM awards may be viewed on WeevilNet.

Scholarships (are not repaid)

The University offers a variety of scholarships including institutional, athletic, special recognition, departmental, and privately funded awards. These scholarship programs are listed below. For institutional scholarship consideration, students must submit an admissions application, test scores (ACT, SAT, or Accuplacer) and an official transcript, to meet eligibility requirements by July 31.

An “academic year” for scholarship purposes includes the Fall, Spring, Summer I, and Summer II terms; however, scholarship funds are not available for summer terms. Institutional awards for entering freshmen are available for a maximum of 8 semesters, pending renewal. Scholarships are used to assist in the payment of tuition, mandatory course-related fees and charges, textbooks purchased at the UAM bookstore, and on-campus room and board. Institutional scholarships are non-refundable.

Scholarships for Entering Freshmen

Scholarships awarded by the University are subject to available funding. To qualify for UAM institutional scholarships:

1. apply for admission,
2. achieve the designated ACT, SAT, or Accuplacer score, and
3. achieve a minimum 2.5 high school GPA

Chancellor’s Scholarship

Award: $6,000 per semester for a maximum of eight semesters of continuous enrollment. Out-of-state tuition is waived.

Eligibility Requirements: 30 or above ACT superscore or comparable SAT score with a minimum 2.5 high school GPA. Available to first-time freshmen only.

Renewal Criteria: Minimum completion of 12 credit hours the first semester and 15 hours in the second semester and thereafter, with a minimum 2.5 GPA each academic year.

Application: Offered when the student is accepted for admission and provides an official high school transcript including test scores. The deadline to apply for admission is July 31.

University Scholarship

Award: $4,500 per semester for a maximum of eight semesters of continuous enrollment. Out-of-state tuition is waived.

Eligibility Requirements: 27-29 ACT superscore or comparable SAT score with a minimum 2.5 high school GPA. Available to first-time freshmen only.

Renewal Criteria: Minimum completion of 12 credit hours the first semester and 15 hours in the second semester and thereafter, with a minimum 2.5 GPA each academic year.

Application: Offered when the student is accepted for admission and provides an official high school transcript including test scores. The deadline to apply for admission is July 31.

Academic Scholarship

Award: $3,000 per semester for a maximum of eight semesters of continuous enrollment. Out-of-state tuition is waived.

Eligibility Requirements: 24-26 ACT superscore or comparable SAT score with a minimum 2.5 high school GPA. Available to first-time freshmen only.

Renewal Criteria: Minimum completion of 12 credit hours the first semester and 15 hours in the second semester and thereafter, with a minimum 2.5 GPA each academic year.

Application: Offered when the student is accepted for admission and provides an official high school transcript including test scores. The deadline to apply for admission is July 31.

Valedictorian Scholarship

Award: $3,000 per semester for a maximum of eight semesters of continuous enrollment. Out-of-state tuition is waived.

Eligibility Requirements: 21-23 ACT superscore or comparable SAT score, confirmation of valedictorian status(final transcript), and a minimum 2.5 high school GPA. Available to first-time freshmen only.

Renewal Criteria: Minimum completion of 12 credit hours the first semester and 15 hours in the second semester and thereafter, with a minimum 2.5 GPA each academic year.

Application: Offered when the student is accepted for admission and provides an official high school transcript including class rank and test scores. The deadline to apply for admission is July 31.

Green & White Scholarship

Award: $1,500 per semester for a maximum of eight semesters of continuous enrollment.

Eligibility Requirements: 19-23 ACT superscore or comparable SAT/Accuplacer score with a minimum 2.5 high school GPA. Available to first-time freshmen only.

Renewal Criteria: Minimum completion of 12 credit hours the first semester and 15 hours in the second semester and thereafter, with a minimum 2.5 GPA each academic year.

Application: Offered when the student is accepted for admission and provides an official high school transcript including test scores. The deadline to apply for admission is July 31.

Weevil Legacy Scholarship

A freshman student who has been awarded an institutional scholarship and has a parent or legal guardian who graduated from UAM with a technical certificate, associate degree, bachelor’s degree, or master’s degree is eligible for an additional $500 per semester scholarship. This award will continue to be applied as long as the student retains an institutional scholarship and is nonrefundable.

Housing Scholarship

A freshman student who has been awarded an institutional scholarship is eligible to receive an additional $500 per semester award to assist with paying for campus housing. If a student chooses not to live on campus or moves off campus, the award will be forfeited. This award will continue to be applied as long as the student retains an institutional scholarship and is nonrefundable.

Out-of-State Tuition Waiver

Award: Waiver not to exceed the cost of out-of-state fees for a maximum of eight semesters.

Eligibility Requirements: Residents of Mississippi, Louisiana, Texas, Oklahoma, Missouri, or Tennessee.

Application: No application is required. The waiver is awarded when the student enrolls in classes.

Colleges of Technology at Crossett and McGehee Scholarships

Award: Tuition for designated proficiency or technical certificate programs.

Eligibility Requirements: Proof of academic and technical performance, teacher recommendation, financial need, and/or participation in school activities.

Renewal Criteria: Amounts awarded are individually reviewed, subject to available funding.

Application: Offered when the student is accepted for admission and provides an official high school transcript including test scores.

University of Arkansas School for Math, Science and Arts Scholarship

Award: Tuition for up to 15 credit hours per semester for a maximum of eight semesters of continuous enrollment.

Eligibility Requirements: Graduating senior from ASMSA, enrolling in the term immediately following high school graduation. A minimum ACT score of 19 or comparable SAT score is required in English, reading, and mathematics.

Renewal Criteria: Minimum completion of 12 credit hours the first semester and 15 hours in the second semester and thereafter, with a minimum 3.0 GPA each academic year.

Application: Admission and scholarship application required by March 1 of the senior year, with all required items for admission on file by June 1 of that year.

University of Arkansas at Monticello EAST Scholarship

Award: Tuition for up to 15 credit hours per semester, beginning in the fall semester immediately following the high school senior year.

Eligibility: High school graduating senior who completes a scholarship application, provides proof of at least two years of active involvement in a recognized high school EAST program, submits two letters of reference regarding EAST service and performance, has a minimum 3.0 cumulative grade point average, a minimum ACT composite score of 19 or comparable SAT score, and a minimum score of 19 in English, reading, and mathematics. Any major in a degree program offered by UAM qualifies. Recipient must be enrolled in the first term immediately following high school graduation.

Additional Criteria: Recipient will be required to complete an assignment on campus for a minimum of 10 hours per week each semester the award is made. Arrangements for the assignment will be coordinated through the Scholarship Office. Priority deadline to apply for this scholarship is March 1.

Renewal Criteria: Minimum completion of 12 credit hours the first semester and 15 hours in the second semester and thereafter, with a minimum 3.0 GPA each academic year.

Scholarships for Transfer Students

Community College Transfer Scholarship

Award: $3,000 per semester for a maximum of four semesters of continuous enrollment (excluding summer terms). Out-of-state tuition is waived.

Eligibility Requirements: Students transferring from an accredited community college with at least 60 and no more than 80 transferable hours at the 1000-level or above and a minimum 2.5 cumulative GPA.

Renewal Criteria: Minimum completion of 15 credit hours the first semester and 15 hours the second semester, with a minimum 2.5 GPA in an academic year.

Application: Offered when the student is accepted for admission and provides a current official transcript from the community college. The deadline to apply for admission is July 31.

Arkansas Academic All-Star Transfer Scholarship

Award: $3,000 per semester beginning in the fall term immediately following the year of All-Star recognition. If the eligibility listed below is met, a spring award may be granted.

Eligibility: Any recognized Arkansas Association of Two-Year Colleges Academic All-Star, as long as the application for admission and scholarship are on file by March 1 following the fall recognition. Students must provide all required items for admission by June 1. If a recognized student is eligible to begin classes in the spring term following recognition, the application must be submitted by December 1, with all necessary documents on file by January 1.

Renewal Criteria: Minimum completion of 12 credit hours the first semester and 15 hours in the second semester and thereafter, with a minimum 3.0 GPA each academic year.

Scholarships for Current UAM Students

Achievement Scholarship

Award: A limited number of scholarships available to current UAM students (ten for sophomores, ten for juniors, and ten for seniors). Amounts vary based on grade level.

Eligibility Requirements: Students must have attended UAM for at least two semesters and earned 30 credit hours by the end of the academic year with a minimum 2.5 cumulative UAM GPA. Recipients must be pursuing their first bachelor’s degree with a declared major. Students must not be receiving another UAM institutional scholarship concurrently.

Renewal Criteria: Recipients must complete 15 credit hours and maintain a 2.5 cumulative GPA at UAM to renew the scholarship for one additional semester.

Application: Recipients will be notified by email of their selection for the scholarship after the fall enrollment census date, subject to available funding.

Performance Scholarships/ Grants In Aid

To qualify for a grant-in-aid at the University of Arkansas at Monticello, entering freshmen must meet at least two of the following criteria:

1. Have a minimum composite ACT score of 18.
2. Have a minimum high school grade point average of 2.0.
3. Rank in the upper 50% of their high school graduating class.

An upperclassman or transfer student must be in good academic standing to receive a grant-in-aid. Recipients must complete a minimum of 12 hours each semester with a 2.0 grade point average to remain eligible for a grant-in-aid.

A single grant-in-aid cannot exceed $2,500 per semester. However, students may receive more than one grant-in-aid each semester. Only those charges incurred on or before the 11th class day can be covered by grants-in-aid. Grants-in-aid may be reduced to insure compliance with the student’s Federal Cost of Attendance or the Arkansas Stacking Policy.

Band, Choir, and Keyboard Scholarships

Award amounts vary according to the student’s ability and are based upon talent, skill, and performance audition. The maximum award amount is equal to the cost of tuition each semester. Contact the Assistant Dean, Division of Music, at (870) 460-1060 for information.

Debate/ Competitive Speaking Scholarship

Award amounts vary according to the student’s ability. The maximum award amount is equal to the cost of tuition each semester. The application process includes letters of recommendation and a written application to the program. Contact the Director, UAM Debate Team at (870) 460-1078.

Athletic Scholarships

The University awards a limited number of athletic scholarships in accordance with the regulations of the NCAA and Great American Conference. The amounts vary with the sport and are based on the player’s ability and skill. For more information, please contact the Athletic Director, University of Arkansas at Monticello, Monticello, AR 71656, (870) 460-1058 and/or your high school coach.

Cheerleader/ Mascot Scholarship

Maximum award amount is equal to one-half the cost of tuition each semester. Try-out is required. Contact the Athletic Director at (870) 460-1058 for information.

Foundation Scholarship Endowments

The University and the UAM Foundation award several scholarships made available from private donations. Donors may specify the criteria for selection of scholarship recipients, including grade point average, hometown, and/or major. Other awards are based upon demonstrated financial need as determined by the Free Application for Federal Student Aid (FAFSA). Renewal is not guaranteed. Listed below are departments that have fully endowed scholarships held by the UAM Foundation.

Arts and Humanities
Athletics
Business
Computer Information Systems
Education
Forestry, Agriculture and Natural Resources
General Studies
Mathematical and Natural Sciences
Music
Nursing
Social and Behavioral Sciences
College of Technology - Crossett
College of Technology - McGehee

Annual Awards / Scholarships

These awards are made from funds received annually from the donors. The award continues only as long as the donor funds the scholarship.

Arts & Humanities - Fred J. Hill, Jr. Band Scholarship
Business - Commercial Bank Business Award
Business - Ralph McQueen Business Award
Business - UAM Institute of Management Accountants Scholarship
Forestry, Agriculture & Natural Resources - Aldo Cingolani Memorial Scholarship
Forestry, Agriculture & Natural Resources - Arkansas Game and Fish Foundation/Pin Oak Hunting Retriever Club Scholarship
Forestry, Agriculture & Natural Resources - Arkansas Rice Council Scholarship
Forestry, Agriculture & Natural Resources - Farm Bureau Agriculture Scholarship
Forestry, Agriculture & Natural Resources - Ranger Jim Scholarship Fund
Forestry, Agriculture & Natural Resources - U of A Division of Agriculture Scholarship - Forest Resources
Forestry, Agriculture & Natural Resources - Bob White Memorial Foundation Scholarship
General - Jerry Duran Memorial Scholarship
General - Farmer’s Grain Terminal Award
General - Jewel Minnis Award
General - Opal Birch Johnson Scholarship
General - James & Venie Powell Award
General - UAM Alumni Legacy Scholarship
General - Wallace Trust Scholarship
General - Woodman Lodge 7 Book Scholarship - Monticello
Mathematical & Natural Sciences - Math & Science - Pre-Engineering
Mathematical & Natural Sciences - Dr. Wayne Divine Operational Gift
UAM College of Technology - Crossett - American Legion Post III Scholarship
UAM College of Technology - Crossett - Georgia-Pacific Crossett Paper Operations Scholarship
UAM College of Technology - Crossett - Hunter Bell Memorial Scholarship
UAM College of Technology - Crossett - Kathy Jordan Martin Memorial Award
UAM College of Technology - Crossett - Lucille Moseley Memorial Scholarship
UAM College of Technology - Crossett - Woodman Lodge 7 Book Scholarship
UAM College of Technology - McGehee - Linda Pinkus Scholarship - McGehee
UAM College of Technology - McGehee Scholarship
UAM College of Technology - Crossett & Monticello - GP Dislocated Worker Aid

Assistance Received Outside of UAM

The receipt of additional financial assistance including scholarships, grants‐in‐aid, or vocational rehabilitation may change the eligibility for federal and state financial aid awards that have already been offered. Federal Direct Loans, PLUS Loans, FSEOG, and Arkansas Department of Higher Education scholarships may be reduced or canceled if the student receives additional assistance.

It is the students’ responsibility to notify the UAM Financial Aid Office of all assistance they will receive. Students may notify the Financial Aid Office by emailing finaid@uamont.edu.

Department of Veterans Affairs Benefits

Veterans of recent military service and the dependents of certain other servicemen and servicewomen may be entitled to educational assistance payments from the Department of Veterans Affairs. The University is an approved institution in veteran and veteran’s beneficiary training.

Veterans of recent military service, widows, or children of those who lost their lives in service, or who are now totally disabled as a result of service, should contact the nearest Department of Veterans Affairs Regional Office for assistance in securing benefits.

Veterans attending the University as undergraduates under the GI Bill ® must maintain full-time status (12 semester hours or more) to be eligible for full benefits. Veterans should be aware that dropping a class during the term might affect benefits. Veterans may not repeat a course in which a passing grade was made and receive benefits for that course.

Veterans may contact the Office of Financial Aid at (870) 460-1050 for assistance in filing for benefits.