Financial Need

Utah Valley University subscribes to the philosophy that university level education and training should not be denied to a person who has limited resources. Financial aid is intended to offset or reduce the cost of going to school by bridging the gap between what a student and family can be expected to pay and what it will cost to attend the University.

In identifying those students who have financial need, UVU recognizes the importance of utilizing a consistent method for determining costs of attendance and for measuring the ability of students and families to meet those expenses. In addition, State and Federal programs require that a student's need be determined in a realistic but systematic way. To do so requires the use of current data and data systems such as the FAFSA and UV Link Financial Aid Data Form (requires login). The student's information is gathered and stored on a school year basis.

"Financial Need" is the calculation

Financial need is simply defined as the difference between the student's cost of attendance and the family's ability to pay these costs. The EFC is calculated from the information reported on the FAFSA, and is reported to UVU electronically.

If you are a dependent student, your parents will assist you with the FAFSA information by adding their information to your FAFSA application. It is assumed your parents will help with school expenses. If you are an independent student, your family would include your spouse, if married. The EFC calculation is a formula established by law and considers the family's taxable and untaxed income, assets and benefits, family size, etc.

Students are expected to contribute from their savings and earnings. Other resources could include campus-based aid from private, state and federal sources awarded through UVU and/or funds awarded outside of our institution such as WIA, Tribal, BIA, TRA, social security, etc. Veterans Benefits such as the G.I. Bill will not be counted as a resource and has no affect on an financial aid calculation.