Types of Financial Aid

Overview: Types of Financial Aid


Direct Unsubsidized Loans

 Non-need based

 Must complete Entrance Counseling and a Master Promissory Note on www.studentaid.gov.

 Accrues interest from date of disbursement

 Payments are deferred until graduation or until a student ceases enrollment

 Can borrow up to cost of attendance or $20,500 annually, whichever is lesser


Graduate PLUS Loans:

 Must apply and be approved on www.studentaid.gov

 Can borrow up to cost of attendance

 Student must complete a PLUS Master Promissory Note on www.studentaid.gov



 Private bank loans with varying interest rates based on credit

 Often have no loan fee

 Loan Vendor Options (or choose any loan vendor of your choice)



(MEd & CAGS Student Only)

 Students must notify AIC of their interest in the Teach Grant by emailing financialaid@aic.edu

 Must complete Teach Counseling and an Agreement to Serve each year at www.studentaid.gov

 Must maintain a cumulative GPA of 3.25

 Information on who qualifies: www.studentaid.gov


Action Items: For Federal Loans

Which FAFSA to File:


  • FAFSA: File your FAFSA
  • Loans:
    • Federal Unsubsidized Loan may be offered after you file your FAFSA.
    • Federal Grad Plus Loan must be requested each year.
    • Requirements: If this is the FIRST time you have accepted one of the loans then you must complete the following:
      • Entrance Counseling
      • MPN (Master Promissory Note): Each loan has an MPN and you must complete one for each loan
  • TEACH Grant contact the Financial Aid Office about this loan for educators




School of Education & Low Residency (EDD and Counseling Psychology)

2022-2023 FAFSA:
Fall 2022, Spring 2023, Summer 2023

2023-2024 FAFSA:
Fall 2023, Spring 2024, Summer2024

All other Programs
(School of Health Sciences and School of Business, Arts, Science)

2022-2023 FAFSA:
Summer 2022, Fall 2022, Spring 2023

2023-2024 FAFSA: 
Summer 2023Fall 2023, Spring 2024




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Financial Aid

General contact information for the Financial Aid Office.

Find your Financial Aid Advisor.

Use this link to view all the options and information offered by the Office of Financial Aid.