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Does University of Phoenix accept financial aid? 

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A degree or certificate can enhance your career by equipping you with the skills to pursue opportunities in the workforce. However, many students have to consider the cost of higher education before pursuing a degree.

University of Phoenix believes in making higher education accessible to nontraditional learners and working adults. In fact, the university recently adopted a nearly 100% remote model to accommodate student preferences and foster educational equity. However, University of Phoenix also makes higher education more accessible thanks in large part to its flexible approach to financial aid. 

Fixed tuition. No surprises. 

Pay one, flat affordable rate for your program from enrollment until graduation.

Does University of Phoenix accept financial aid?

Yes, University of Phoenix accepts financial aid.

In addition to accepting scholarships, grants, loans, test credits and tuition payment plans, University of Phoenix also offers a Tuition Guarantee. This locks in a student’s tuition from day one, offering a flat cost per credit throughout their degree program. This means students will know exactly what their education will cost on the whole.

But even with a Tuition Guarantee, many students wonder what their options are for financing their degree. Learn more about the most common financial aid options University of Phoenix students use to finance their education.


University of Phoenix has a $1 million scholarship commitment to make higher education more accessible to learners. The University doesn’t believe scholarships should just be for a select few. That’s why it awards scholarships to all qualifying students. For example, starting with their first course, qualifying new students are awarded up to $1,000 or $3,000 in scholarships from University of Phoenix.

There are additional University of Phoenix scholarships, too. Many of these scholarships have GPA or work experience requirements. Some recent University of Phoenix scholarships include:

  • The Phoenix® Winter Scholarship
  • The Current Student Scholarship
  • The Phoenix® Scholarship
  • The Alumni Scholarship
  • University of Phoenix Military Police Regimental Association Scholarship
  • EANGUS Future Phoenix Scholarship 2023

University of Phoenix has scholarships available for new, current and returning students. Note scholarship availability changes over time. Students are also welcome to apply for third-party scholarships outside of the University to help finance their education.

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Students must repay loans with interest. Grants, on the other hand, generally don’t need to be repaid. Students interested in applying for federal grants should fill out the FAFSA application to see if they qualify.

Federal Supplemental Educational Opportunity Grants (FSEOG) and Pell Grants are just some of the most common grants University of Phoenix students use to finance their education. Students can also look for state and local grants in their community for additional funding options.

Federal student loans

Federal student loans are subsidized by the federal government. These loans must be repaid with interest. To see how much you qualify for, submit a FAFSA application using University of Phoenix’s school code: 014593.

Students should only borrow what they need for school. If a student's eligibility for loans doesn’t cover all their tuition charges, the student is responsible for paying any remaining tuition or fees.

Students may need to complete Entrance Counseling or submit a Master Promissory Note (MPN) before they can take out federal student loans.

Private student loans

University of Phoenix encourages learners to pursue private loans only after they consider the federal direct loan program. Some students opt for private student loans because they aren’t eligible for federal aid or if they need assistance beyond what federal aid provides. 

Private loans tend to have stricter terms and less favorable interest rates. They’re offered through a third-party lender, and the terms will differ depending on the student’s credit score and the selected vendor. University of Phoenix doesn’t endorse any private lender; students are free to choose the best lender for their needs. 

Earn credits through testing

While University of Phoenix accepts financial aid, it encourages learners to try to reduce the cost of their education by earning credits.

For example, University of Phoenix offers the Prior Learning Assessment (PLA), which evaluates students' relevant work and life experience for potential credit.

To qualify for PLA, individuals must be an undergraduate student accepted to University of Phoenix. Students must also have submitted a transcript and must have remaining credits to earn. A PLA can be submitted in two different ways. First, individuals can create a Professional Training Portfolio to describe the professional training and certifications achieved. Second, students can write an Experiential Learning Essay based on a list of approved topics.

Another way to earn credits is through national testing. For students with previous experience in a subject, a passing exam grade could help them earn undergraduate credits. University of Phoenix can grant credits through a variety of exams including:

  • College Level Examination Program (CLEP)
  • DSST Credit by Exam Program
  • Excelsior College Exams
  • Advanced Placement (AP) Exams
  • Berlitz® Language Evaluations

However, not all students will qualify. Contact University of Phoenix’s Finance Advisors to see which options you might qualify for.

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Tuition payment plans

While University of Phoenix doesn’t offer payment plans, some students opt for third-party payment plans to pay for school. Tuition payment plans divide the total cost of schooling into installments. They usually require a down payment of 20 percent to 50 percent of the total cost.

Unlike student loans, tuition payment plans usually require payments while students are still enrolled in school. In this way, payment plans could help students reduce their student loan debt by paying for school while they’re still studying.

If you received a grant to cover a portion of your education, a tuition payment plan could help you pay for the remaining balance of a degree program. Tuition payment plans usually don’t require credit checks, and their small, manageable payments can make them an attractive option for students.

Explore University of Phoenix’s financial aid options

Going back to college is an opportunity to enhance your career. But financing a college degree is a big decision, so it’s important to learn about your options to make your education as affordable as possible.

Use the University of Phoenix Savings Explorer™ tool to see if you have eligible credits or relevant experience to trim the costs of your education. On average, eligible students with eligible college credit and work and life experience saved up to $11,000 on their undergraduate degree programs.

University of Phoenix’s Finance Team is available to explain tuition rates and other fees. They can also help guide students through the financing process and help them choose the best possible options for financing their education, so they can stay on the right track. Contact University of Phoenix’s Finance Team to discover your own financial aid options.


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