Frequently Asked Questions

Neumont's school code is 009948.

Neumont University participates in the Pell Grant, Stafford Loan and PLUS loan programs.

• The Pell Grant is a need-based grant that the student does not have to repay.
• The Stafford Loan is a loan program for the student. There are two types of Stafford Loans, subsidized and unsubsidized.
• • A subsidized Stafford loan is a loan program wherein the interest on the loan is paid by the Federal government until six months after the student graduates or withdraws from the program. After the six month period, the student begins loan repayment.
  • An unsubsidized Stafford Loan follows the same time frame as the subsidized Stafford loan, but the interest is not paid by the government (subsidized). The interest simply accrues on the loan while the student is in school.
• The PLUS loan is a loan that a parent of a student may take out on behalf of the student.

The first step is to complete the Free Application for Federal Student Aid (FAFSA). You must include Neumont University's school code of 009948 on the application. The second step is to complete the Neumont University Financial Aid Application (NUFAA). Unless additional information is required, these two applications will provide the Financial Aid Office with the information necessary to determine your federal aid eligibility. You will receive an award letter with details about your eligibility within a few weeks of your application. You must complete a FAFSA for each academic year in which you wish to use Federal student financial aid.

The Student Aid Report is a summary of the information provided on the FAFSA. It also provides the Expected Family Contribution (EFC) number used to determine aid eligibility. You should carefully review your SAR to make sure there are no errors. Submit any corrections to the Financial Aid Office at Neumont University, Office of Financial Aid, 10701 S River Front Pkwy Ste 300, South Jordan, Utah, 84095.

EFC stands for Expected Family Contribution. The Expected Family Contribution is the amount that the dependent student and family, or independent student, is expected to contribute towards the Cost of Attendance. This number is used to determine your eligibility for need-based programs (Pell Grant and Subsidized Stafford loan).

An award letter details your personal Federal financial aid eligibility to attend Neumont University based on the information you included in the FAFSA and the Financial Aid Application form. The award letter will let you know specifically which Federal student aid programs you are eligible for in terms of specific maximum amounts. The award letter will also include additional information on finalizing the loan process, how the loan money will be disbursed, and canceling loans.

Approximately 30 percent of all applicants are selected for the process of verification. If you have been selected, you must provide additional documentation to the school. This documentation will include Federal tax forms for both the student and parent(s), if the student is dependent. The school is required to compare this information with the information you provided on the FAFSA. Any discrepancies must be addressed and corrected. You will receive a Verification Worksheet that will detail the information you must provide within the time frame specified. You will not be eligible to receive any Federal aid until this process is completed. For assistance in completing verification, please call (801)302-2828 or (801)302-2870.

You must be accepted to the University in order to have your award letter processed. It generally takes about three weeks after you've been accepted to complete the process, longer if verification is required. The University will fax, e-mail or mail your award letter to the address indicated on the Financial Aid Application Form.

The Cost of Attendance is an estimate of the total costs associated with attending Neumont University for an academic year. The Cost of Attendance varies by each student's living situation, the degree program they're enrolled in, and where they are in the program. This number includes estimates for Tuition/Fees, Books/Supplies, Transportation, Loan Fees and Miscellaneous Personal expenses. The Cost of Attendance amount is the absolute limit of financial aid, regardless of source, that you may utilize during the academic year.

Dependency for financial aid purposes is defined a little differently than most people would assume. The U.S. Department of Education will evaluate the information you provide on the FAFSA and determine your dependency status. A student is only considered independent for the 2006-07 Financial Aid year if one of the following criteria applies:

• The student was born before January 1, 1983
• The student is enrolled in a graduate/professional degree program
• The student is married on or before the date he or she applies
• The student is an orphan or is or was until 18 a ward/dependent of the court
• The student is a veteran of the U.S. armed forces
• The student has dependents other than a spouse

It is important to understand that a student is considered dependent regardless of how he or she is claimed on the parent(s) tax forms and regardless of how much (or how little) financial support the parent is providing.

Though it varies on a case by case basis, most independent students and dependent students whose parents do not take out a PLUS loan will not be eligible for enough funding through the Federal student aid programs to cover all of the elements of the Cost of Attendance. You have the option of securing alternative loans and scholarships to cover any shortfall. However, it is important to note that it is still your responsibility to make up any tuition/fee not covered by aid.

Entrance Counseling is a required counseling session for Stafford loan borrowers. Issues such as repayment, the consequences of default, and the Master Promissory Note are covered.

Exit Counseling is a required counseling session for Stafford loan borrowers. Issues such as monthly repayment amounts, repayment options, and debt management are covered. Our Financial Aid Office will schedule this meeting with you at graduation or withdrawal.

No. Your Federal aid eligibility is determined by the information included on the FAFSA and the Financial Aid Application Form. The Expected Family Contribution (EFC) listed on the Student Aid Report (SAR) is the amount that the student and family, or independent student, are expected to contribute to the student's educational costs for the relevant academic year. This number is considered when determining your basic aid eligibility for need-based programs. Payment of tuition out of your own resources does not change your Federal eligibility.

If you have further questions and would like to speak to one of our Financial Aid Officers, please call (801)302-2828 or (801)302-2870.