AIAM Financial Aid Options
AIAM recognizes that Federal Financial Aid is an important part of reaching educational goals for many students, which is why AIAM’s Financial Aid department is committed to helping students through the Financial Aid process. To receive Financial Aid, the first and most important step for all students is the completion of a Free Application for Federal Student Aid (FAFSA). Depending on the length of the educational program offered by AIAM, it is likely that completion of more than one FAFSA will be necessary. Keep in mind that aid eligibility can vary year to year, and students are always welcome in the Financial Aid Office to go over eligibility at any time.
To complete the FAFSA, first, register for an FSA username and password at https://fsaid.ed.gov/npas/index.htm. 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 can 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 at www.fafsa.ed.gov. Make sure to enter all information, including adding AIAM’s school code: 035344. That way, AIAM’s Financial Aid Office receives 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: Verification
Complete your FAFSA, and make an appointment with the FA Department as soon as possible!
Receiving Financial Aid
To qualify you must:
- Be an eligible student. For grant and subsidized lending, this is determined by the Expected Family Contribution (EFC) 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 of 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 noncitizen.
- Be enrolled at least half-time for loan recipients, and at least 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). Failure to maintain a 2.0 average at the end of each quarter, as well as failure to complete all classes on track to maintain completion of the program within 150 percent of required timeframe will result in Unsatisfactory Academic Progress. See Financial Aid Warning and Probation details in the Student Policy section of the catalog.
Financial Aid by FAFSA Eligibility:
- Pell Grant – This is a grant, or “gift aid”. Eligibility is determined by EFC 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 EFC 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 off of Cost of Attendance (COA) minus EFC (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.studentloans.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 to 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.
Financial Aid does NOT always cover all the charges associated with your academic program, so appointments with the Financial Aid Office are required!
AIAM’s interest-free payment plans are a great way to finance your education!
Students will be assigned an individualized payment plan by the financial aid office. A monthly payment plan will be created for the students by deducting estimated assistance first, if the student is receiving financial aid, veterans benefits, an outside funding source, or nothing at all too (for students who wish to self-pay). The monthly payment plan is designed to help students make sure they are paid in full by the end of their program.
Payments are due on the 28th of each month. Students who find themselves having difficulty making their monthly payments are encouraged to contact the Director of Finance, Barry Cook, at email@example.com or 614.825.6255 Ext. 238.
Federal Student Aid Scholarship Info:
The US Department of Education has created this resource for students to search through scholarships.
Please remember that in order to receive financial aid you must have completed the following:
- FAFSA-www.fafsa.ed.gov.You will need an FSA username and password, for which first-time applicants can register at www.fsaid.ed.gov/npas/index.htm
Contact Us– AIAM Financial Aid Staff is available to help assist you with questions on available resources, completion of FAFSA financial aid request, payment plans, and resolution of any requested items, such as through verification. Contact Ulrike Rosser, Director of Financial Aid, firstname.lastname@example.org 614-825-6255 Ext. 223.
We look forward to assisting you!