Types of Financial Aid

Overview: Types of Financial Aid

FEDERAL DIRECT LOANS

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

 

ALTERNATIVE LOANS

 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)

 

TEACH GRANT

(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:

Student:

  • 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

 

STUDENTAID.GOV

 

School of Education (8 Week Calendar) and
Online Trimester Calendar:

2024-2025 FAFSA:

Fall 2024, Spring 2025, Summer 2025

 
 
 
 

 

 
 

 

Scholarship Search

The Sallie Mae Fund, in partnership with Thurgood Marshall College Fund, is again providing 200 Completing the Dream Scholarships to help students from underserved communities complete their higher education. Applications will be accepted until all $500,000 in scholarship funds are awarded or on December 6, 2024. Eligible students must be on track to complete their program during the academic year 2024-2025 at a two-or four-year college, career training, and other post-secondary education programs and maintain good academic standing. Apply at  Completing the Dream Scholarship Program | The Sallie Mae Fund.

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Financial Aid

Title Description

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.