Financial Aid

Financial Aid & Scholarships

Welcome to Financial Aid & Scholarships at Arkansas State University-Newport! The Financial Aid staff is here to help you understand your options, complete the financial aid process, and find resources to help make college more affordable.

Financial aid may include grants, scholarships, work-study, and loans. The type and amount of aid you may receive depends on your eligibility and other factors.

Need information about financial aid refunds?  Jump to the Refunds Section

How to Apply for Financial Aid

Applying for financial aid is a process, but you don't have to navigate it alone. Follow the steps below to get started and learn what to expect along the way.

 

Verification

After you submit your FAFSA, you may be selected for verification. Verification is the process of confirming information reported on your FAFSA through additional documentation.

Students may be selected for verification at random or because information on the FAFSA needs to be confirmed or clarified.

If you are selected, the required documents will be listed in your Banner Self-Service account. Complete any requested items as soon as possible to avoid delays in processing your financial aid.

If you have questions about verification, contact the Financial Aid Office.

 

Financial Aid Award Notification

Once your FAFSA and any required documents have been reviewed, ASU-Newport will determine your eligibility for financial aid.

Students will receive an award notification through their ASU-Newport student email once their financial aid has been processed. The notification will direct you to Banner Self-Service, where you can view your financial aid awards.

Your financial aid may include a combination of grants, scholarships, work-study, and loans. Review your award carefully so you understand what you are receiving and whether you need to complete any additional steps.

 

How Financial Aid Is Processed

ASU-Newport Registrar’s Office verifies attendance in each of the student's courses.

Once attendance is complete at census for each term/part of the term, the Financial Aid office adjusts financial aid award amounts based on the number of credit hours the student is enrolled in.

The Financial Aid Office requests the federal government to release the funds to ASU-Newport. Funds are then applied to each student’s account.

For students who have remaining funds left after current charges for tuition, fees, books, etc. have been paid, the Student Billing Office will process a refund.

Refunds

Refunds are processed through the Student Billing Office each semester. The fastest and most reliable way to receive your refund is through direct deposit, which can be set up through your Banner Self-Service account.

Log in to Banner Self-Service and select TouchNet to set up direct deposit.

Refund dates can be found on the Tuition and Fees page.

For questions about refunds, email BusinessServices@asun.edu.

Refunds may be issued by direct deposit or paper check:

1. Direct Deposit — Preferred Refund Method
   Direct deposit can be set up through Banner Self-Service under the TouchNet link.
   
   
2. Paper Check
   Paper checks are mailed to the address provided on your ASU-Newport admission application. Delivery may take 10 days to two weeks, depending on the U.S. Postal Service.

 

Keep Your Financial Aid: Satisfactory Academic Progress

Receiving financial aid is only part of the process. To continue receiving certain types of financial aid, students must maintain Satisfactory Academic Progress (SAP).

SAP measures your academic progress and helps ensure that you are successfully working toward completing your program. Requirements may include maintaining the required grade point average and successfully completing enough of the courses in which you enroll.

Review the Satisfactory Academic Progress policy to learn more about the requirements for maintaining financial aid eligibility.

If you have questions about SAP, contact sap@asun.edu.

Types of Financial Aid

There are several ways students may receive financial assistance at ASU-Newport. Depending on your eligibility, you may qualify for scholarships, grants, work-study, or loans.

Some financial aid does not need to be repaid, while loans must generally be repaid after you leave school or fall below the required enrollment level. Explore the options below to learn more about the types of aid available.

Scholarships

Scholarships can help reduce the cost of attending college and generally do not need to be repaid. ASU-Newport offers institutional scholarships, while outside organizations may offer additional scholarship opportunities.

Institutional Scholarships

ASU-Newport offers a variety of scholarships for incoming, transfer, and current students based on academic performance, leadership, and financial need.  For more information, visit the Scholarships page.

External Scholarships

External scholarships are offered by organizations, businesses, community groups, professional associations, and other organizations outside ASU-Newport.

Eligibility requirements vary. Scholarships may be based on academic achievement, field of study, community involvement, extracurricular activities, or other criteria.

When searching for external scholarships:

• • Use reputable scholarship search engines such as Fastweb, Scholarships.com, and the College Board.
  • Check with local community organizations, professional associations, and employers.
  • Never pay to apply for a scholarship. Be cautious of scholarship opportunities that require an application fee.
    
    

Grants

Grants are another form of financial aid that generally does not need to be repaid as long as you meet the requirements of the grant. Eligibility may be based on financial need, academic requirements, program of study, or other criteria.

Federal Pell Grant

The Federal Pell Grant provides need-based financial aid to eligible undergraduate students. The amount awarded may depend on financial need, cost of attendance, enrollment status, and the length of attendance.

To apply, complete the FAFSA.

Federal Supplemental Educational Opportunity Grant (FSEOG)

The Federal Supplemental Educational Opportunity Grant (FSEOG) is available to undergraduate students with exceptional financial need. Priority is generally given to students with the greatest financial need who are eligible for the Federal Pell Grant.

Arkansas Future Grant (AR Future)

The Arkansas Future Grant (ARFuture) provides financial assistance to eligible Arkansas students pursuing certificates and associate degrees in high-demand fields of study.

For eligibility requirements and application information, visit the Arkansas Scholarship Application Management System (SAMS).

Arkansas Academic Challenge Scholarship:

The Arkansas Academic Challenge Scholarship is funded in part by the Arkansas Lottery and provides financial assistance to eligible Arkansas residents who meet the program's requirements.

Military Scholarships & Grants

Students who are veterans, active-duty service members, National Guard members, Reservists, or eligible dependents may have access to additional education benefits.

Veterans Education Benefits

Veterans and eligible family members may qualify for education benefits through the U.S. Department of Veterans Affairs.

Visit VA Education Benefits to review eligibility and application information.

 

National Guard Tuition Waiver

The National Guard Tuition Waiver may provide eligible Arkansas National Guard members with assistance toward tuition at participating Arkansas colleges and universities.

For more information and application details, visit the Arkansas Scholarship Application Management System (SAMS).

Work-Study Programs

Work-study programs allow eligible students to earn money through part-time employment while attending college.

Federal Work-Study

Work-study programs allow eligible students to earn money through part-time employment while attending college.

Federal Work-Study (FWS) provides part-time employment opportunities for eligible undergraduate and graduate students with financial need. Jobs may be available on campus and may include community service positions or work related to a student's field of study.

Work-study funds and positions are limited, so students are encouraged to apply early.

Senior Aviator Tuition Waiver

Arkansas residents who are 60 years of age or older may enroll tuition-free in existing for-credit courses, based on space availability.

For more information and to complete the Senior Aviator Tuition Waiver, click HERE.

 

Loans

Loans can help students cover educational expenses that are not covered by other forms of financial aid. Unlike grants and scholarships, loans generally must be repaid.

Before borrowing, make sure you understand the amount you are borrowing, the interest rate, and the terms of repayment.

Schedule of Reductions for Federal Direct Loans

Beginning with the 2026–2027 academic year, changes made by the One Big Beautiful Bill Act (OBBBA) require Federal Direct Loan amounts to be reduced for students who are enrolled less than full-time.

This reduction is known as the Schedule of Reductions (SOR). The amount of a student's annual Direct Loan eligibility is adjusted based on the student's enrollment intensity for the academic year.

For undergraduate students, 12 credit hours per semester is considered full-time enrollment at Arkansas State University-Newport. Students who enroll in fewer than the full-time number of credit hours may have their annual Direct Subsidized and Direct Unsubsidized Loan eligibility reduced.

Enrollment is locked at the census date. The number of eligible credit hours in which a student is enrolled at the first census date is used to determine the student's enrollment intensity and applicable Schedule of Reductions for Federal Direct Loans. Changes to a student's enrollment after the census date may affect future loan disbursements or require an adjustment to the student's financial aid eligibility, depending on the circumstances.

Federal Direct Loans

Federal Direct Loans are low-interest loans provided by the U.S. Department of Education to students and parents to help cover educational expenses. 

1. Subsidized Loans | For undergraduate students with financial need. The U.S. Department of Education pays the interest while the student is in school at least half-time, during the grace period, and during deferment periods.
   
   
2. Unsubsidized Loans | Available to undergraduate and graduate students; not based on financial need. The borrower is responsible for paying interest during all periods.
   
   

Applying for Federal Direct Loans

1. Complete the FAFSA.
2. Complete required entrance counseling.
3. Sign a Master Promissory Note (MPN)
4. Review your loan information and understand your responsibilities as a borrower.

Note: Repayment begins six months after graduation, leaving school, or dropping below half-time enrollment. 

Complete the FAFSA

 

Private Loans

Private student loans are non-federal loans offered by banks and other lending institutions to help cover educational expenses.

Private loans should generally be considered after you have explored federal financial aid options, as they may have less flexible repayment terms and may require a credit check or co-signer.

Applying for a Private Loan

Students may choose any private loan lender.  ASU-Newport provides a historical lender list at the FastChoice link below.

1. 1. Use FastChoice to research and select a lender.
   2. Complete the lender's application and select ASU-Newport as your school.
   3. Email the Financial Aid Office with your name, student ID number, and notification that you have applied for a private loan.
   4. Once your application is approved, the lender will send the loan to ASU-Newport for certification.
   5. The Financial Aid Office will review your eligibility and certify the loan amount.
   6. After certification, the lender will finalize the loan and send the funds to ASU-Newport.
   7. Once received, the private loan will be applied to your ASU-Newport student account.

Important Information About Private Loans

• • Private loans require a credit check and may require a co-signer.
  • Loan approval, interest rates, and repayment terms are determined by the lender.
  • Processing times vary, so apply early.
  • Loan funds are applied to your ASU-Newport account balance first. Any remaining funds are sent to the student.

 

ASUN Student Loan Code of Conduct

ASU-Newport follows a Student Loan Code of Conduct to promote ethical practices in student lending and borrowing.

The code prohibits ASU-Newport from receiving anything of value from a lending institution in exchange for any advantage or consideration related to student lending.

Scholarship Stacking Policy

Students may receive financial aid from multiple sources. However, if a student's total aid exceeds the student's cost of attendance, some awards may need to be reduced.

Under the Arkansas Department of Higher Education's scholarship stacking policy (Arkansas Act 1180 of 1999), Arkansas Challenge is reduced first. If additional reductions are necessary, scholarships are reduced in the following order: institutional scholarships, followed by other ADHE scholarships.

 

Questions about Financial Aid? 

The Financial Aid Office is here to help you understand your options and navigate the financial aid process.

For questions about financial aid, scholarships, grants, loans, or your financial aid award, contact the Financial Aid Office at FinancialAid@asun.edu.