Grants = Free Money
Grants are free money and do not have to be repaid. When you complete the Free Application for Federal Student Aid (FAFSA), and are admitted to the University of New Mexico, you will automatically be considered for federal, state, and University grants.
Grant awards are divided into two equal payments for fall term and spring term, unless otherwise noted. All grant award amounts may be pro-rated if you enroll less than full time. Awards are based on your financial need (expected family contribution or EFC), any eligibility criteria specific to the source, and availability of funds. Most of our grants are limited funding and will require that you complete your FAFSA by the January 5 priority date and that you have submitted all additional documentation by February 1.
*Types of Grants Available at UNM
| Grants Name | Source | Max Award | Award Criteria | Application Process |
|---|
| Federal Pell Grant | Federal | $7,395 (2023-24) | Have a Pell eligible EFC; Undergraduates only.
No prior degree | Complete a FAFSA |
| Federal Supplemental Educational Opportunity Grant (SEOG) | Federal | $4,000 | Undergraduates only. No prior degree. Lowest
EFC students first. | Complete a FAFSA and meet priority date |
| State Student Incentive Grant (SSIG) | State | $2,500 | Maximum EFC 1500. Undergraduate and NM resident. Cannot also receive UNM 3% Grant. | Complete a FAFSA and meet priority date. |
| UNM 3% Grant | UNM | $2,500 | Maximum EFC 1500. Undergraduate and NM resident. Cannot also receive SSIG. | Complete a FAFSA and meet priority date. |
| UNM Grant II | UNM | $4,000 | Undergraduate, no prior degree, lowest EFC awarded first, cannot also receive SEOG. | Complete a FAFSA and meet priority date. |
| Teach Grant | Federal | **$4,000 | Grad or Undergrad. Must be in a qualified high need major in College of Education and meet GPA requirements. | Complete a FAFSA, complete Agreement to Serve and Pre-Teach Counseling prior to receiving award. |
*availability of grant funds, criteria requirements and an applicant's financial need determine awarding; meeting all criteria does not guarantee an award.
**Due to sequestration, Teach Grant maximum annual awards are reduced.
Applying for Grants at UNM:
- Complete your FAFSA by UNM’s January 5 priority date. (The Pell Grant does not require that you meet the priority date but you must complete the FAFSA within your enrollment period). Dependent students must provide parental information on the FAFSA in addition to their own information. Parents are also required to sign their dependent student’s FAFSA.
- Submit Additional Documentation by February 1 to complete your Financial Aid file. If you have outstanding items to complete your Financial Aid file you will not be awarded, you must complete your file prior to being awarded grants or other type of aid.
- Additional steps for Teach Grant: If you are admitted to the College of Education and wish to be considered for the Teach Grant, please inform our office. We will evaluate your eligibility for the Teach Grant based on GPA, major and other criteria. If eligible, we’ll award you and require that you complete the Agreement to Serve and the Pre-Teach Counseling prior to disbursing your Teach Grant.
What to do after you've been awarded:
- Modify your awards onLoboweb: Accept or decline any loans or work study you may have been offered. Your gift aid (grants and scholarships – free aid) are automatically accepted for you. If you’d like to edit your award amounts or terms, submit a Financial Aid Change form online. This form can be accessed on our forms page, select the correct aid year and submit online. Grants are automatically accepted for you.
- Register for classes onLoboweb: If you will be less than fulltime, let our office know by completing the Loan Enrollment Verification form online. This form can be accessed on our forms page, select the correct aid year and submit online by signing in with your netid and password. Federal Loans require at least halftime enrollment.
- Check your charges: Your accepted aid will automatically pay your University charges. Check your UNM Bursar Account Suite on Loboweb, if you owe more thanyou have inaccepted aid you will need to pay UNM before the payment deadline in order to avoid fees. Please note:First time loan borrowers must take additional steps for before their loans will pay.
- Receive your refund: You can receive your refund by eithersigning up for direct deposit which is the most secure and quickest method to receive your refund or you can receive a check by mail. Only if you have a surplus in financial aid after your University charges have been paid will you receive a refund.
Here is a list of Quick links that may assist you:
FAQs
Award amounts can change yearly. 2023–24 Award Year. The maximum Federal Pell Grant award is $7,395 for the 2023–24 award year (July 1, 2023, to June 30, 2024). 2024–25 Award Year. The maximum Federal Pell Grant award is $7,395 for the 2024–25 award year (July 1, 2024, to June 30, 2025).
How do I know if I get a grant from FAFSA? ›
After you apply, you can track the status of your Cal Grant application online by using WebGrants for Students. If you qualify for a Cal Grant Entitlement award and your application was received on time and needs no corrections, you will receive a Cal Grant Eligibility Notification after November.
How do I contact the financial aid office at UNM? ›
Our website: http://finaid.unm.edu/ CALL US - Communications Center can be reached at 505-277-8900 or 1-800-CALLUNM. Our phone hours are: Monday through Friday 8:00 AM to 5:00 PM.
How to accept a scholarship offer at UNM? ›
Important Dates. Important: If you have been awarded a scholarship you will receive an email with a link to accept the scholarship. If you cannot locate the email please email unmlobos@unm.edu or call 505.277. 8900.
Can I spend my FAFSA grant money? ›
The Pell Grant can theoretically be used to pay for any expense. However, using these funds on expenses that aren't considered “qualified education expenses” may make the money subject to taxation.
Is the FAFSA grant money or a loan? ›
The FAFSA, or Free Application for Federal Student Aid, is used to apply for several types of financial aid, including grants, student employment and federal student loans. Grants are a form of gift aid, which does not need to be repaid. The FAFSA is what determines whether or not you can participate in work-study.
What is the most common grant? ›
Program Development Support. The most popular type of grant is for Program support. Program grants provide funding for specific projects or programs. Generally, these are restricted grants, where recipients must only use funds for the exact purpose outlined in the grant proposal.
Do I get 20k if I had a Pell Grant? ›
If you received a Pell Grant in college and meet the income threshold, you will be eligible for up to $20,000 in debt relief. If you did not receive a Pell Grant in college and meet the income threshold, you will be eligible for up to $10,000 in debt relief.
What is the max Pell Grant amount? ›
On January 19, 2024, the President signed Public Law 118-35, making further continuing appropriations for the fiscal year ending September 30, 2023, and for other purposes. Under these continuing appropriations, for the 2024-2025 award year, the maximum Pell Grant award remains fixed at $7,395.
How much is UNM tuition? ›
UNM Student Financial Aid Office
The mission of the UNM Financial Aid Office is to provide UNM students with the timely delivery of financial assistance while maintaining accountability and proper stewardship of the public, institutional, and private funds with which it is entrusted.
What is UNM financial aid code? ›
Student Aid Programs
The school code for UNM is 002663. In addition to federal student loans and work-study eligible students may also apply for Alternative Student Loans and Veterans Benefits.
What is the last dollar scholarship for UNM? ›
The BA/MD Scholarship is a "Last Dollar" Scholarship and fills the gap between all scholarship funding the BA/MD student receives from other sources and the basic educational cost per academic semester/year.
Can you stack scholarships at UNM? ›
Students are automatically considered for the highest value scholarship they are eligible for. Scholarships cannot be stacked.
Is UNM a good school? ›
University of New Mexico is ranked #236 out of 439 National Universities. Schools are ranked according to their performance across a set of widely accepted indicators of excellence.
What does grant amount and disbursed amount mean? ›
Financial aid disbursem*nt is when your loans or grants are paid out at the beginning of each semester. Typically, issuers send your financial aid funds directly to the school, and the school then applies the money to your tuition, fees and other expenses.
What does disbursed grant amount mean? ›
A disbursem*nt is the payment of federal student aid funds to the student by the school. Students generally receive their federal student aid in two or more disbursem*nts. Was this page helpful? How do I check the status of my 2023–24 FAFSA® form?
Do you have to pay back FAFSA grants? ›
The good news for many students is that much of the money you are awarded through the FAFSA does not need to be paid back. This includes need-based financial aid grants that are awarded by individual colleges, as well as federal and state grants like the Pell Grant or Federal SEOG Grants.
What is the difference between a grant and a FAFSA? ›
The FAFSA is the form you fill out, and the Pell Grant is one of the ways to receive aid while you attend school. Pell Grant funds are typically offered to undergraduate students who demonstrate financial need. The FAFSA helps a student show the government and the school that they have a need.
