Sources of Financial Aid

Federal Financial Aid

The U.S. Department of Education, through Title IV of the Higher Education Act, provides students with excellent resources to

fund their education. AIU participates in a wide variety of these programs and ensures all eligible students have equal access to federal financial aid. Financial aid is available to those who qualify. You may access the Department of Education's Funding page and gain a more detailed understanding of student financial aid programs. Below is a brief summary of the Title IV programs in which AIU participates:

Federal Pell Grant

This grant program is designed to assist needy undergraduate students who desire to continue their education beyond high school. Every student is entitled to apply for a Federal Pell Grant. Eligibility is determined by a standard U.S. Department of Education formula, which uses family size, income and resources to determine need. The actual amount of the award is based upon the cost of attendance, enrollment status, and the amount of money appropriated by Congress to fund the program. The Federal Pell Grant makes it possible to provide a foundation of financial aid to help defray the cost of a postsecondary education. Unlike loans, the Federal Pell Grant does not usually have to be paid back.

Academic Competitiveness Grant

An Academic Competitiveness Grant will provide up to $750 for the first year of undergraduate study and up to $1,300 for the second year of undergraduate study to full-time students who are eligible for a Federal Pell Grant and who had successfully completed a rigorous high school program, as determined by the state or local education agency and recognized by the Secretary of Education. Second-year students must maintain a cumulative grade point average (GPA) of at least 3.0.
View eligibility requirements.

The National Science and Mathematics Access to Retain Talent Grant (National Smart Grant)

The National Science and Mathematics Access to Retain Talent Grant, also known as the National Smart Grant, is available during the third and fourth years of undergraduate study to full-time students who are eligible for the Federal Pell Grant and who are majoring in physical, life, or computer sciences, mathematics, technology, or engineering or in a foreign language determined critical to national security. The student must also have maintained a cumulative grade point average (GPA) of at least 3.0 in coursework required for the major. The National Smart Grant award is in addition to the student's Pell Grant award.
View eligibility requirements.

Federal Supplemental Educational Opportunity Grant (FSEOG)

The Federal Supplemental Educational Opportunity Grant (FSEOG) is available to undergraduates who have not earned a bachelor's or professional degree. Unlike a loan, the FSEOG does not have to be repaid. In determining the priority order in which students will be awarded FSEOG funds, AIU will award this grant to those students with exceptional financial need who will also be receiving the Federal Pell Grant.

Federal Parent Loan for Undergraduate Students (PLUS)

The Federal PLUS loan, another FFELP loan program, is available to parents of dependent undergraduate students. These loans are not based on need but, when combined with other resources, cannot exceed the student's cost of attendance. A credit check is required, and either or both parents may borrow through this program. Repayment begins within 60 days of final disbursement of the loan within a loan period.

Federal Graduate PLUS loan

The Graduate PLUS Loan is an affordable, low-interest loan for graduate students. The Graduate PLUS Loan can be used to cover up to 100 percent of your total cost of education, minus other financial aid you've been awarded. While you will be required to pass a credit check when you apply, your lack of credit history will not affect your eligibility for the Graduate PLUS Loan.

Federal Stafford Loans

Federal Stafford loans, available through the Federal Family Education Loan Program (FFELP), are low-interest loans that are made to the student by a lender, such as a bank, credit union, or savings and loan association. The loan must be used to pay for direct and/or indirect educational expenses. Subsidized loans are need-based while unsubsidized loans are not. Repayment begins six months after the student graduates, withdraws from school, or falls below half-time enrollment status. You may click the following link for a summary of Stafford Loan limits by grade level.

Stafford Loan Limits
Freshman: 0-35 Credits	Subsidized/Unsubsidized	$3,500
	Additional Unsubsidized	$4,000

Sophomore: 36-71 Credits	Subsidized/Unsubsidized	$4,500
	Additional Unsubsidized	$4,000

Junior/Senior: 72 +	Subsidized/Unsubsidized	$5,500
	Additional Unsubsidized	$5,000

Graduate	Subsidized/Unsubsidized	$8,500
	Additional Unsubsidized	$12,000