Federal Student Loan Basics FEDERAL FINANCIAL AID # Funding your future Federal financial aid includes grant and low interest loan programs from the U.S. Department of Education to help you pay for your college tuition and expenses– because nothing should hold you back from reaching your full potential. You also don't have to go it alone. Our finance advisors are on hand to help guide you through the process. ## Key dates & deadlines Students must submit the [Free Application for Federal Student Aid](https://studentaid.gov/h/apply-for-aid/fafsa) (FAFSA) for each school year to qualify for federal financial aid. Our FAFSA school code is**014593**. | Federal Award Year | FAFSA Open Date | FAFSA Deadline | Tax year data used in FAFSA | |---|---|---|---| | 2025-26 2025-26 | 2025-26 December 1, 2024 | 2025-26 June 30, 2026 | 2025-26 2023 | | 2026-27 2026-27 | 2026-27 September 24, 2025 | 2026-27 June 30, 2027 | 2026-27 2024 | | 2027-28 2027-28 | 2027-28 TBD (Fall of 2026) | 2027-28 June 30, 2028 | 2027-28 2025 | | | TYPES OF FEDERAL FINANCIAL AID ## Know your options We want to help you understand your potential funding options because the funding decisions you make today may impact your future. Let us help explain the two types of federal aid:**federal grants**and**federal loans**.  ## Responsible borrowing × Responsible borrowing ### Federal grants Grants are distributed based on financial need and other qualifying factors. They are money that you don’t have to repay. Learn more about [grants](https://studentaid.gov/understand-aid/types/grants). - [Federal Pell Grant](https://studentaid.gov/understand-aid/types/grants/pell) Typically awarded to undergraduate students who display exceptional financial need and have not earned a bachelor’s, master’s, or professional degree, which includes doctoral. - **Federal Supplemental Education Opportunity Grant** Typically awarded to an undergraduate student who demonstrates exceptional financial need. [Federal Grant FAQ's](https://www.phoenix.edu/tuition-financial-aid/financial-aid-faq.html) ### Federal loans Both need and non-need based low interest loan options are available. The money borrowed must be repaid with interest. Learn more about [loans](https://studentaid.gov/understand-aid/types/loans). - [Direct Subsidized Loan](https://studentaid.gov/understand-aid/types/loans/subsidized-unsubsidized) Loans made to eligible undergraduate students who demonstrate financial need to help cover the cost of education expenses not covered by other financial aid. - [Direct Unsubsidized Loan](https://studentaid.gov/understand-aid/types/loans/subsidized-unsubsidized) Direct unsubsidized loans are loans that help cover the cost of higher education for both undergraduate and graduate or professional students. Financial need is not required to qualify. The borrower is generally responsible for paying all the accumulated interest, until the loan balance is paid off. - [Direct Plus Loan](https://studentaid.gov/understand-aid/types/loans/plus) Loans made to eligible graduate students and parents of dependent undergraduate students to help pay for education expenses not covered by other financial aid. [Federal Loan FAQ's](https://www.phoenix.edu/tuition-financial-aid/financial-aid-faq.html) ## Responsible borrowing starts here Explore tools and tips designed to help you manage loans effectively, borrow what you truly need and invest confidently in your education. Your future self will thank you. [Explore Financial Wellness Center](/student-resources/financial-literacy.html) ## Check out our Financial Literacy and Wellness Center Many students face financial stress balancing work, education and life. Explore our tools and resources to learn ways to manage your money with confidence. [Get started now](/student-resources/financial-literacy.html) ## Get started with federal financial aid Every student who meets the eligibility requirements can get some form of federal financial aid, regardless of age or family income. Being eligible and staying eligible The most basic eligibility requirements are that you must: - Be a US citizen or an eligible noncitizen - Have a valid Social Security number - Have a high school diploma or a recognized equivalent such as a General Educational Development (GED) certificate - Be enrolled or accepted for enrollment as a regular student in an eligible degree or certificate program - Maintain satisfactory academic progress in school - Not be in default on a federal student loan and not owe a federal grant overpayment [View additional requirements](https://studentaid.gov/understand-aid/eligibility/requirements) --- ## Apply for federal financial aid Use our quick, step-by-step guide. Complete and submit the FAFSA form All students seeking federal financial aid need to complete the Free Application for Federal Student Aid (FAFSA) online as soon as possible after October 1.  The FAFSA code for University of Phoenix is 014593. [Complete the FAFSA online now](https://studentaid.gov/h/apply-for-aid/fafsa) Review your financial aid offer notification In your notification, we’ll explain the details of your financial aid package, which can include grants, scholarships, and federal student loans. Complete your Entrance Counseling and Master Promissory Students who receive a Federal Direct loan for the first time are required to complete these online forms before they’re eligible to receive payment. This process will take approximately 20 minutes to complete and can be accessed[24 hours a day](https://studentaid.gov/app/counselingInstructions.action?counselingType=entrance). Talk to an enrollment representative Questions? We’ve done everything we can to simplify the financial aid process. If you have questions, please[contact us](tel:1-888-346-8679). ## Connect with a finance advisor A finance advisor is ready to explain your financial aid options including grants, scholarships, loans and other services you may not even know about. Contact them today. - [Call 1-888-346-8679](tel:1-888-346-8679) - [Email us](mailto:StudentFinancialServices@phoenix.edu) [Ways to save Learn how you can save with the Savings Explorer® tool.](https://www.phoenix.edu/cost-savings)[Ways to pay Along with your tuition guarantee, view options to help cover your education costs.](/tuition-financial-aid.html) ## Ready to get started? Chat with an experienced advisor who can guide you through tuition, financial aid, scholarships, transfer credits and more. [Request info](/request/request-information) ## Frequently asked questions Expand AllCollapse All ### What is the University of Phoenix Federal School Code for my FAFSA form? University of Phoenix Federal School Code for FAFSA is 014593. ### Where can I find my rights and responsibilities as a federal student loan borrower? Students receiving federal financial aid have defined rights and responsibilities in accordance with the Borrower’s Rights and Responsibilities Statement, attached to the Master Promissory Note (MPN). ### When will I receive my financial aid from University of Phoenix? The process to receive financial aid can take time, you’ll usually receive it within your first two courses. ### How do I get my University of Phoenix loans discharged? When applying for federal students loans you will first sign a master promissory note (MPN). By signing the MPN, you agree to repay all loans made under the MPN. There are certain situations when federal student loans can be forgiven, canceled, or discharged.[Federal Student Aid’s site](https://studentaid.gov/)has more information about these options. ## Start a conversation about your future with an enrollment representative today. [Call 844-937-8679](tel:8449378679) ## *Terms and conditions You must attend school continuously, with no attendance breaks greater than 14 days, to retain disbursed federal funds. A leave of absence must be requested and approved if you require more than 14 days away from class. Not all University of Phoenix degree programs are eligible for federal financial aid. Please check with an advisor. Review the[Consumer Information Guide](/about/regulatory/consumer-information.html) If the University determines that you are not eligible for federal financial aid and/or you do not provide all requested documentation, you will be immediately responsible for any outstanding balance and will be required to comply with the terms and conditions of the Cash Plan. Students who do not comply with their primary financial option may not be allowed to attend classes. Your eligibility to start or continue attending classes is at the discretion of the University. A student may not be financially approved to attend class for failure to make payment in a timely manner, preventing the student from attending future class sessions until the amount owed is paid in full or satisfactory payment arrangements are made. Finance Advisors are available to provide additional information. Washington State Loan Advocate Statement: For Washington State residents seeking information and resources about student loan repayment or seeking to submit a complaint relating to your student loans or student loan servicer, please visit www.wsac.wa.gov/loan-advocacy or contact the Student Loan Advocate at loanadvocate.wsac.wa.gov.