  We study the power law running of gauge, Yukawa and quartic scalar couplings
in the universal extra dimension scenario where the extra dimension is accessed
by all the standard model fields. After compactifying on an $S_1 /Z_2$
orbifold, we compute one-loop contributions of the relevant Kaluza-Klein (KK)
towers to the above couplings up to a cutoff scale $\Lambda$. Beyond the scale
of inverse radius, once the KK states are excited, these couplings exhibit
power law dependence on $\Lambda$. As a result of faster running, the gauge
couplings tend to unify at a relatively low scale, and we choose our cutoff
also around that scale. For example, for a radius $R \sim 1 TeV^{-1}$, the
cutoff is around 30 TeV. We then examine the consequences of power law running
on the triviality and vacuum stability bounds on the Higgs mass. We also
comment that the supersymmetric extension of the scenario requires $R^{-1}$ to
be larger than $\sim 10^{10}$ GeV in order that the gauge couplings remain
perturbative up to the scale where they tend to unify.
