AAHW participates in the William D. Ford Federal Direct Student Loan Program (DSL Program) and disburses federal financial aid in the form of unsubsidized and Graduate PLUS Title IV loans.
Unsubsidized loans and Graduate Plus loans are not need-based. Interest accrues on unsubsidized loans from their inception, but loan repayment is deferred until after the student leaves school. Dollar amounts available through DSL loans as well as the interest charged are determined annually by the federal Department of Education and are subject to change. Graduate PLUS loans carry a higher rate of interest and fees than unsubsidized loans.
The amount of money available to students through Title IV loans depends on students’ enrollment status. Students who wish to apply for federal financial aid should consult with the school’s Financial Aid Administrator for current information on interest rates, loan amounts, changes in the program, etc. Student loans are typically disbursed at the beginning of each school trimester. Financial aid students must reapply for financial aid loans every year, preferably before the beginning of their personal award year, by filling out and submitting a new FAFSA. To remain eligible for financial aid at AAHW, a student must maintain satisfactory academic progress and be registered for a minimum of eight credits (half-time) each trimester.
Students who matriculate at AAHW with fewer than 90 post-secondary semester credits (135 quarter credits) do not qualify for Title IV loans through AAHW, and may want to discuss other options such as a state-based loan with the Financial Aid Administrator. Once 90 program credits have been satisfactorily completed, the student may qualify for Title IV funds.