LOA – Financial Aid and the Leave of Absence
Financial Aid and the Leave of Absence
A leave of absence (LOA) is a temporary interruption in a student’s program of study. The student must follow the school’s policy in requesting the LOA. There must be a reasonable expectation that the student will return from the LOA, and AIAM must approve the student’s request for an LOA in accordance with the school’s policy. AIAM will not assess the student any additional institutional charges; therefore, the student is not eligible for any additional Federal Student Aid until successfully returning and completing the payment period/term. Except in the WMT program, a student returning from an LOA must resume training at the same point in the academic program that he or she began the LOA with the exact same schedule the student left. AIAM will not grant a student an LOA merely to delay the return of unearned Title IV funds, nor to help a student avoid a punitive grade.
Student failure to return from an LOA may have negative consequences on the student’s loan repayment terms, including the expiration of the student’s grace period. Please note that failure to return from LOA will report the last date of attendance to loan holders as the beginning of 6 month grace period. This can lead to immediate repayment at the end of a 180 day LOA.
Also, see LOA policies under Academics (in the catalog). LOA policies and procedures are to be requested from the Academic Dean.
Questions on Financial Aid impact are to be directed to the Financial Aid Office.