Undergraduate Commencement at Utica College

Understanding Financial Aid

Tuition and Financial Aid
Understanding Financial Aid

At Utica University, we want to see you realize your educational goals. That's why we encourage all Utica students to apply for financial aid.

Quality you can afford.

More than 95% of Utica University students receive a form of financial aid through the institution. What's more, scholarships, grants, loans, and part-time student employment reduce the out-of-pocket costs for most of the families we serve, often by more than half the cost of tuition. So a quality, private education at Utica is more affordable than you think.

Affordability Fast Facts:

In 2016, Utica reduced its tuition price by 42%
Utica offers more than 300 scholarships and awards
95% of Utica students receive financial aid from the University
Typical aid package reduces tuition cost by 50% or more

Aid Options include:

University Scholarships are awarded to full-time freshmen upon admission to Utica on the basis of academic achievement.

University Scholarships

Endowed Scholarships have been established by alumni, friends of Utica University, and organizations for the purpose of permanently providing support to deserving and/or outstanding students.

Endowed Scholarships

Grants and prizes are awarded to deserving students on an annual basis. A full list of grants and awards are available below.

Annual Grants / Awards

Requiring re-payment, including low-interest federal loans, several options exist for Utica University students to borrow funds needed to cover higher education expenses such as tuition, room and board, books, and more. When you apply for financial aid at Utica, loans may make up part of your financial aid offer.

For complete information about federal student loans, visit the Federal Student Aid web site.

Additional Loan Options

Parent (PLUS) Loan

A Parent (PLUS) Loan is a federal loan that is available to parents of dependent, undergraduate students. The PLUS loan is taken out for both the Fall and Spring semester and is in the parent’s name.

If you would like to apply for a Parent PLUS Loan, please visit www.studentaid.gov to complete an application. Please be advised, only one application may be submitted and changes cannot be made to an application after its submission. If you would like to make changes to the Parent (PLUS) Loan, please contact your Student Financial Services Counselor.

A credit check is required for a Parent (PLUS) loan. You will receive notification of approval shortly after you submit the application. If the Parent (PLUS) Loan is not approved, the parent can

appeal the decision with the Direct Loan Program Center, or
obtain a creditworthy endorser (by completing an addendum online at www.studentaid.gov, or
the student can choose to take out an additional Federal Unsubsidized Loan up to $ 4,000 for the academic year.

Grad (PLUS) Loan

A Grad (PLUS) Loan is a federal loan that is available to graduate students. The Grad (PLUS) Loan is taken out for the entire academic year (Summer/Fall/Spring, if applicable).

If you would like to apply for a Grad (PLUS) Loan, please visit www.studentaid.gov to complete an application. Please be advised, only one application may be submitted and changes cannot be made to an application after its submission. If you would like to make changes to the Grad (PLUS) Loan, please contact your Student Financial Services Counselor.

A credit check is required for a Grad (PLUS) loan. You will receive notification of approval shortly after you submit the application. If the Grad (PLUS) Loan is not approved, you have the option to appeal this decision with the Direct Loan Program Center or obtain a credit worthy endorser. If you chose the endorser option, they will need to complete an addendum online at www.studentaid.gov.

Private/Alternative Education Loan

An Alternative Education Loan is an education loan in the student’s name. It is not a guaranteed federal loan and must go through an approval process that usually requires a creditworthy co-signer. We encourage you to research various private loans. New York State provides a useful private loan comparison tool at www.utica.edu/loan-compare.

Once you have decided on a loan product you should apply directly through the lender. Borrowers will be required to submit several time-sensitive disclosures back to lenders as part of the loan process. It is important to carefully read all of the communication sent to you electronically or by mail from Utica College and your alternative loan lender. Like the (PLUS) Loan, the Private/Alternative Education Loan is taken out for the Fall and Spring semesters.

An Income Share Agreement, or ISA, provides an alternative funding option to supplement student's financial aid and federal loans. ISAs provide funding for certified tuition and fees in exchange for a student's promise to pay a fixed percentage of his or her future income for 5 years following graduation.

Stride Funding provides ISA funding options to students enrolled in eligible programs at Utica. With an ISA from Stride Funding, you do not need a cosigner or current income, as they look at where you’re going (future income), not where you’ve been. Plus, all Stride students automatically become a member of the Stride Community, giving you access to career support (e.g., monthly content, exam prep, interview guidance) and a broader community of peers who can support you as you begin your professional journey.

If interested in learning more and getting a quote, you can visit them at:

Stride Funding

Eligibility Criteria

Within 2 years of graduation
Bachelor’s or Master’s candidate
US Citizen or Permanent Resident
3.0+ GPA / Satisfactory Academic Progress
Inclusive credit policy screening for specific adverse credit incidents
- No cosigner required (ever!)
- No FICO cutoffs