Navigating Student Loans at UNLV: A Comprehensive Guide
Financing higher education is a significant undertaking, and understanding the available student loan options is crucial for students attending the University of Nevada, Las Vegas (UNLV). This guide provides detailed information about federal and private student loans, eligibility requirements, repayment options, and other financial aid resources available to UNLV students.
Federal Student Loans: An Overview
Federal student loans are a primary source of financial aid for many students. These loans are available to most undergraduate, graduate, and professional students, regardless of income. To access federal student loans, students must complete Entrance Counseling and a Master Promissory Note (MPN) before the funds are disbursed. Upon graduation, withdrawal, or dropping below half-time enrollment, Exit Counseling is required to review the terms and conditions of the borrowed funds.
Types of Federal Student Loans
The Federal Direct Subsidized Stafford Loan is based on financial need, while the Federal Direct Unsubsidized Stafford Loan is not need-based and is available to students regardless of their financial situation. For an unsubsidized loan, students have the option of allowing interest to accrue until they enter repayment or making small quarterly interest payments to the Direct Loan Servicer.
In addition to the direct unsubsidized loan, graduate students may also be eligible for the Federal Graduate PLUS Loan. This non-need-based federal loan program allows graduate students to borrow up to the full cost of attendance, minus any other financial aid they are receiving. However, these loans are contingent upon creditworthiness or require a creditworthy co-borrower.
Changes to Federal Loan Limits (Effective July 1, 2026)
Effective July 1, 2026, federal loan limits for law students will change. Under the new federal regulations, law students may borrow up to $50,000 annually in federal direct loans. Students beginning their legal studies in fall 2026 or later will be subject to these new borrowing limits.
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Key Requirements for Federal Aid Eligibility
To be considered for federal, state, and institutional financial aid, students must complete the Free Application for Federal Student Aid (FAFSA). UNLV's federal FAFSA school code is 002569. The priority deadline to be considered for maximum financial aid programs is Nov. 15. However, students may still apply for financial aid after this date.
To qualify for financial aid, students must be admitted as degree-seeking students at UNLV and may be asked to provide documentation of their ability to benefit from a college education. Only citizens and eligible noncitizens may receive financial aid.
FAFSA Verification Process
The U.S. Department of Education allows schools to verify the accuracy of the information provided on the FAFSA application. UNLV uses ProEdu as its third-party vendor for verification. Students must complete, sign, and submit all required information to ProEdu. Financial aid will not disburse until the necessary paperwork is submitted for verification.
Private Student Loans: Bridging the Gap
Private loans, also known as non-federal loans, can help bridge the gap between financial aid and the cost of attendance. Students apply for private loans through their lender of choice. UNLV accepts and works with all non-federal private alternative student loan providers.
Private Loan Options
- College Ave Student Loans: Private student loans for career training and courses with no minimum loan amount. Requires university assistance in the application process.
- Sallie Mae Smart Option Loan: A specific type of private loan for professional training and certificate program courses. The minimum loan amount is $1000 and requires university assistance in the application process.
- Other Private Loan Options: Check with your bank or credit union for low-interest private loans for education or career training.
Loan Repayment and Management
Understanding loan repayment is crucial for managing student debt effectively. Students have a grace period before they are required to begin repaying their loans. The grace period depends on the loan type.
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Grace Period
Students typically have a grace period of six months after they graduate, withdraw, or drop below half-time enrollment before they are required to begin repaying their loans.
Deferment
Deferment is a temporary postponement of repayment allowed under certain conditions. During this time, interest may still accrue on the loan. Students interested in exploring this option will need to submit a request to their loan servicer and demonstrate that they meet the eligibility requirements for deferment. Students can log into their Federal Student Aid account to view their loan servicer or contact the Federal Student Aid Information Center.
Loan Forgiveness, Cancellation, or Discharge
In certain situations, a student can have their federal loans forgiven, canceled, or discharged. You may qualify for loan forgiveness if you work full-time for a public, non-profit, or certain private-sector public service agency and repay your loans under an Income-driven Repayment Plan. In addition, borrowers on income-driven repayment plans will have any remaining loan balance forgiven after a maximum of 20-25 years of repayment.
Managing Loan Repayment Difficulties
Anytime you are unable to make your loan payments, contact your loan servicer as soon as possible. Your loan servicer will work with you to determine the best option for you, which may include changing repayment plans, requesting a deferment, or requesting a forbearance.
Additional Financial Assistance Resources
UNLV provides access to a variety of additional financial assistance resources to help students manage the cost of their education.
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General Financial Assistance Search
- Fastweb: Search for scholarships and grants at a site developed by the same company that developed monster.com for job searches. Only select certificate programs are eligible. Students who are interested can call Job Connect One Stop - (702) 822-4200, who will check to see if they are eligible.
- Eligible Programs: (EmployNV.gov) > Education and Training under Job Seekers> > ETPL Approved Programs >search for University of Nevada Las Vegas (851 E Tropicana Ave)
Discounts on Classes
UNLV staff and alumni are eligible for discounts on a select list of non-credit courses for professional development and personal enrichment offered by UNLV Lifelong Learning.
- [UNLV Employee Discount Information](Insert Actual Link Here)
- [UNLV Alumni Discount Information](Insert Actual Link Here)
Financial Assistance Not Accepted
Due to the structure of non-credit programs, UNLV is currently unable to accept certain financial assistance programs, such as:
- FAFSA (Free Application for Federal Student Aid)
- Post-9/11 GI Bill
Financial Aid Policies and Procedures
Understanding UNLV's financial aid policies and procedures is essential for students seeking financial assistance.
Cost of Attendance (COA)
Students may receive scholarships and loans up to their estimated Cost of Attendance (COA). The total financial aid awards, in any combination, cannot exceed the estimated COA. Students whose basic expenses exceed this amount may contact the university's Financial Aid and Scholarships office to request an individual COA review after the semester begins.
Satisfactory Academic Progress (SAP)
Maintaining Satisfactory Academic Progress (SAP) means you must fulfill certain minimum standards in regard to maintaining your financial aid eligibility.
Census Date
The census date is used to determine a student’s quantitative measure as described in Section 3. The census date is the point in time when a student’s enrollment hours are “frozen” for the purposes of determining financial aid eligibility for the semester. The census date for the fall and spring semesters is the last date you can add classes without special permission. The census date is the date your financial aid eligibility is locked in each semester. If you change your enrollment level on or before the census date, your aid eligibility will be adjusted. However, if you change your enrollment level after the census date, your aid eligibility will not be adjusted unless you drop all of your classes.
Special Considerations
If you (or your family) experience a change in your financial situation after you have completed the Free Application for Federal Student Aid (FAFSA), our office may be able to re-evaluate your circumstances if our special consideration policies are applicable.
Financial Aid for Child Care Expenses
Yes, you may use financial aid to cover child care expenses. There is not a type of financial aid specifically for child care expenses, but if you have financial aid left over after your bill to UNLV has been paid, you may use the excess for child care and for other expenses.
Scholarships
Scholarship selection is a highly competitive process at any institution. Many qualified applicants unfortunately do not receive a scholarship award. If you are applying for scholarships after the Nov. 15 priority deadline, you may still be eligible for funding. Our office awards scholarships to other students who decline their financial aid for other opportunities.
For most scholarships, students are required to maintain enrollment in at least 12 credits (full time) per semester to make sure that the scholarship credits your account. Many outside agency scholarships require a full-time course load per semester as well. Unless you receive a letter that specifically states that your award is renewable, your award is not renewable.
Refunds
A refund check or direct deposit is created when the student's financial aid is greater than his or her charges for a particular semester. A faster way to receive your refund is through Direct Deposit.
Withdrawal Policy
If you completely withdraw during any semester at UNLV, you will be subject to the Federal Return of Title IV Funds Policy as conducted by Financial Aid & Scholarships.
Impact of Dropping Classes
If you drop from your full-time schedule, it may affect your eligibility.
Student Employment Opportunities
Part-time student employment opportunities are available to view 24 hours a day online from the Career Services Office. The postings for on-campus and off-campus employers are available to view a few weeks before the opening of each semester until the close of that semester. The potential employer's contact information will be listed for each job posting. When classes are in session, students should not work in excess of 20 hours per week.
Students must file the Free Application for Federal Student Aid (FAFSA) to be considered for Federal Work Study (FWS) funds every year by Nov. 1 for priority consideration. If you are not initially awarded FWS, you may contact our office and ask about FWS eligibility.
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