Qualifying for Federal Aid

Qualifying for Federal Aid

In order to receive federal financial aid, you’ll need to meet certain requirements. The first step to determining eligibility is completing the Free Application for Federal Student Aid (FAFSA).

What makes me eligible for aid?

To be eligible to receive Title IV aid (federal grants and loans), you need to meet the following criteria:

  • Be a U.S. citizen or

  • Be an eligible noncitizen of the United States (per the FAFSA):

    • U.S. permanent resident and have an Alien Registration Receipt Card (I-551).

    • Conditional permanent resident (I-551C).

    • Other eligible non-citizen with an Arrival Departure Record (I-94) from DHS showing any one of the following designations: “Refugee”, “Asylum Granted”, “Parolee” (I-94 confirms paroled for a minimum of one year and status has not expired), or “Cuban-Haitian Entrant.”

    • Students in the U.S. on a F1 or F2 student visa, a J1 or J2 exchange visitor visa, or a G series visa are not eligible to receive federal student aid. If your status doesn’t fit any these categories, please visit the Financial Aid Office.

  • Be enrolled as a regular matriculated (not visiting) student and working towards a degree or certificate at LDS Business College. Undeclared majors are not eligible.

  • Maintain Satisfactory Academic Progress.

  • Have graduated from high school, received a GED, or completed an eligible equivalent program. (If you have not graduated, please see the Financial Aid Office).

  • Registered for Selective Service if male (http://www.sss.gov).

  • Not owe a repayment on a federal grant or be in default on a federal student loan.

How is eligibility for specific loans and grants determined?

Expected Family Contribution

The Expected Family Contribution (EFC) is a measure of your family's financial strength and indicates how much of you and your family's financial resources (for dependent students) should be available to help pay for your education. The EFC is calculated from the information you report on the FAFSA.

The EFC is used by the Financial Aid Office to determine the type of aid a student is eligible to receive. This does not mean the family is required to pay the college that amount prior to the student receiving aid. For dependent students, the EFC is calculated from the student’s and parents’ FAFSA information. If the student is independent, it is calculated from the student’s (and spouse’s, if applicable) FAFSA information.

Pell Grants and Subsidized Stafford Loans

Your eligibility for Pell Grants and subsidized Stafford Loans is based on need. Eligibility for Pell Grants is calculated first, using your Expected Family Contribution (EFC). Then your eligibility for subsidized Stafford Loans is calculated. The Financial Aid Office calculates your need by subtracting your EFC, Pell Grant and any scholarships or other assistance from the Cost of Attendance (COA). If you are attending fall and winter semesters, the following amounts are offered in subsidized Stafford Loans as long as the amount does not exceed your need: $3500 for freshman and $4500 for sophomores. Students awarded for only one term are offered half of the above amounts.

Unsubsidized Loans

If you do not qualify for the full or partial amounts of the subsidized loans, you are then eligible for unsubsidized loans. Your total aid, including all loans, grants, scholarships and other assistance cannot exceed your COA. Loan amounts may be reduced accordingly. Students needing additional unsubsidized loans may request them through the Financial Aid Office. See the student loans page for more information.

Loan amounts may also be reduced if the student has already received loans from another school during the award year, or if the student is nearing aggregate borrowing limits.

Have additional questions about financial aid eligibility?

The Financial Aid Office is here to help! Contact us at (801) 524-8111 with any further questions.

Contact the Financial Aid Office >