Financial Aid
Because federal financial aid is important for many students to be able to reach their educational goals, our financial aid department is committed to helping them navigate the process.
Applying for Financial Aid
The most important step for all students seeking financial aid is to complete a Free Application for Federal Student Aid (FAFSA). Depending on the length of the aIAM program you pursue, it is likely you’ll need to complete more than one FAFSA form over the course of your education. Keep in mind, eligibility can vary year-to-year, but our team is here to help walk through your eligibility at any time.
Filling Out Your FAFSA
To complete the FAFSA, you must first, register for an FSA username and password at Federal Student Aid. If you already have a PIN, please note that the PIN program has been discontinued, and you will still need to register for an FSA username if you haven’t previously. You may use your existing PIN to help create your new FSA username and FSA password. Once you’ve completed the FSA username and password, you can log on and start the FAFSA process.
Be sure to enter all information, including adding aIAM’s school code: 035344. That way, aIAM’s Financial Aid Office will receive your information and can advise on Financial Aid eligibility. You may be required to verify some items you provide while filling out the FAFSA. Information on this is here.
If you’re ready to join the aIAM family, complete your FAFSA and make an appointment with the financial aid department as soon as possible to ensure key deadlines are met.
Financial Aid by FAFSA Eligibility
We highly encourage students seeking financial aid to meet with the aIAM financial aid office.
-
Pell Grant
This is a grant, or “gift aid”. Eligibility is determined by Student Aid Index (SAI) via student FAFSA.
FSEOG – A Federal Supplemental Educational Opportunity Grant (FSEOG) is a grant for undergraduate students with exceptional financial need. This is a grant. Eligibility is determined by SAI and demonstrated need. This is awarded to new students with her/his first award.
Federal Direct Stafford Loan Options-Subsidized Stafford Loan program provides subsidized low-interest loans. Subsidized loans are need-based aid and eligibility is awarded based on Cost of Attendance (COA) minus SAI (total need must not be met). Interest is paid by the Federal government while the student is in school. Unsubsidized Stafford Loan is referred to as a non-need based loan. Interest is charged from the time the first disbursement is made until the loan is paid in full.
-
Parent PLUS Loan Program
Allows parents to borrow on behalf of their dependent undergraduate children. Parents may borrow up to the amount of the Cost of Attendance, minus any other financial aid or other aid sources being received. This is a non-need based aid, and interest accumulates from the date of the first disbursement.
-
Graduate PLUS Loan Program
Allows graduate-level students to borrow additional loan funds up to the Cost of Attendance (after subtracting out other Title IV sources of aid). This loan is credit-based and requires approval, which can be completed at www.studentaid.gov. See the Financial Aid Office for more information.
Note
All students are not required to borrow loans, or do not have to borrow total eligibility. Discussion with the Financial Aid Office is strongly encouraged. Information published by the U.S. Department of Education is available during normal working hours for students. An appointment is desired so that Financial Aid has the ability to discuss any questions. The publications include information about rights and responsibilities of students and schools under the Title IV, HEA loan programs. The loan(s) requested and originated for each and every student will be submitted to the National Student Loan Data System (NSLDS) and will be accessible by guaranty agencies, lenders, and schools determined to be authorized users of the data system.
Qualifying for Financial Aid
-
To qualify for financial aid, you must:
- Be an eligible student. For grant and subsidized lending, this is determined by the Expected Family Contribution (EF) awarded via the FAFSA.
- Not be in default on a prior student loan or in an overpayment status, as determined via the National Student Loan Data System (NSLDS).
- Not have exceeded lifetime eligibility for Pell Grant funding, as determined by NSLDS.
- For loan recipients, not to have met aggregate loan limits, as determined by NSLDS. Students close to their aggregate may have limited borrowing available to keep from exceeding levels.
- All students who have completed a Bachelor’s degree are no longer eligible for Pell Grant funding.
- Be a citizen or an eligible non-citizen.
- Be enrolled at least half-time for loan recipients, and less than half-time for grant recipients.
- Meet all requirements to receive financial aid, such as the resolution of verification, registration with Selective Service, verification of citizenship status, and any other items requested by the financial aid office.
- Be making Satisfactory Academic Progress (SAP) for financial eligibility (see SAP policy in aIAM School Catalog). Failure to maintain a 2.0 average at the end of each quarter, as well as failure to complete all classes on track for completion of the program within 150 percent of the required timeframe, will result in unsatisfactory academic progress. See the Financial Aid Warning and Probation details in the Student Policy section of the aIAM catalog.
Financial aid does not always cover all the charges associated with your academic program. Any student receiving financial aid is required to consult with the financial aid office.
Learn about additional loan options and additional funding sources.
Additional Information
VA Educational Benefits
aIAM works hard to serve veterans, service members, and military families, including spouses and dependents. Further, there are benefits available to those that qualify that can help with educational costs. See the details on the VA Educational Benefits Page.
Scholarships
For information on federal student aid scholarships, visit the U.S. Department of Education resource page.