Overview: Types of Financial Aid

GRANTS/SCHOL ARSHIPS                                 LOANS                                                OTHER

Grants/Scholarships do NOT need to be repaid.

 

AIC Merit Awards & Scholarships

•    AIC Athletic Grants: Determined by the Director of Athletics based on the coachs recommendations and subject to NCAA rules and college funding.

•    AIC Grant: Awarded by the college based on demonstrated financial need. Subject to annual review

and based on the FAFSA and other documentation.

•    AIC Merit Awards are determined based on your admissions application and are renewable.

 

Federal Grants

•    Pell Grant: Awarded to low and moderate income undergraduate students who have not earned a bachelors degree.

•    Supplemental Educational Opportunity Grant (SEOG): Awarded to students with exceptional financial need pending federal funding.

 

State Grants

State grants are awarded based on the eligibility guidelines of your home state.

 

Outside Scholarships

Action Item (If applicable)

May be awarded to you from your high school, local company, or other program that you have applied to. Please forward the paperwork regarding your award to the Office of Student Accounts.

Loans need to be repaid.

 

 

Federal Loans

 

Student Loans

 

Offered to student automatically after the FAFSA is filed.

 

Ford Federal Direct Loan: Low-interest loan funded by the federal government. Payments are deferred until after graduation or a student ceases enrollment.

 

•    Direct Subsidized Loans: Eligibility is based on the students grade level and financial need. Interest is deferred until the student is no longer enrolled at least half time.

•    Direct Unsubsidized Loans accrue interest as soon as the loan is disbursed. They are not need based.

 

Parent Loans

 

Action Item (Optional):

A parent must apply for this loan at studentaid.gov.

 

Federal Direct PLUS Loans: Parents of dependent students may apply for a Direct PLUS Loan to helpay their childs education expenses. The student and parent must be U.S. citizens or eligible noncitizens. PLUS loan applicants are subject to a credit check.

 

If a parent is DECLINED for the Parent PLUS Loan, then the student will be awarded an additional Direct Unsubsidized Loan or the parent can choose to add an endorser/cosigner for reconsideration.

 

   Other Requirements for ALL Federal Loans

 

All federal loans require a first-time borrowers to sign a Master Promissory Note. In addition, students will need to complete the Entrance Counseling process. These can be completed at studentaid.gov.

 

 

Alternative Education Loan

Action Item (Optional):

May be available through private lenders to help finance the cost of education. AIC has a list of loan providers or you may choose any provider of your choice.

Other aid is subject to the specific rules of the program.

 

Federal Work Study

Must be earned through securing a campus job. Students are paid every two weeks. These funds are NOT applied to the student’s account.

 

MEFA U.Plan

 

AIC participates in the MEFA U.Plan prepaid college tuition plan

 

State Programs

If you have a voucher for your education from a state agency, please forward the documentation to the Office of Student Accounts

 

Veterans & Active Duty Service

Members

Action Item (If applicable)

AIC participates in VeteranPrograms:

•    Post-911 GI Bill (CH33)

•    Post-911 GI Bill Yellow Ribbon Program Contribution level for undergraduate students is up to $7,500 per year.

•    Tuition Assistance (National Guard, Army, Navy, Coast Guard, Marines, Air Force)

•    Email your Benefits Certification Form to Registrar@aic.edu or to studentaccounts@aic.edu.

 

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.