Admissions
Financial Aid & Tuition Information
Financial Aid: Frequently Asked Questions (FAQs)
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The process of coordinating financing for college can be a daunting one
for new students and their parents. With that in mind, the Academy has compiled this list of
questions frequently asked by prospective students about financial aid:
Q. My financial aid does not cover my tuition. What should I do?
A. The Academy of Art University awards students the maximum allowed by federal
regulations (except for limited SEOG funds). If your award does not cover your tuition balance you
can either:
Discover Student Loan - Private Loan
http://www.discoverstudentloans.com/student/private.aspx
877-728-3030
If you have any questions on alternative loans, you can call:
Sun Chan
Alternative Loan Manager
(415)618-6228
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Q. What is your Federal School ID Number?
A. 007531
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Q. Why do I have to include my parents income information on the Free Application for Federal
Student Aid (FAFSA)?
A. If you are considered a dependent student by the Department of Education you
must include your parent's income and asset information on the FAFSA. If your parents are divorced
or separated see the instructions contained in the FAFSA for information on which parent's income
must be reported on the application.
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Q. Why am I a dependent student when my parents do not support me and will not help me finance
my education?
A. If you answer "no" to all seven (7) dependency questions in step 3 on the
FAFSA, you are considered a dependent student for financial aid purposes, even if your parents are
unwilling to help you finance your education.
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Q. What is the definition of an independent student?
A. In order to be considered an independent student you must answer "Yes" to at
least one of the seven questions below:
- Will you be 24 years old by December 31st of the current academic year?
- Will you be working on a master's program during the current academic year?
- As of today, are you married? (Answer "Yes" if you are separated but not divorced)
- Do you have children who receive more than half of their support from you?
- Do you have dependents (other than your children or spouse) who live with you and who receive
more than half their support from you, now and through the end of the current academic year?
- Are you an orphan or ward of the court or were you a ward of the court until age 18?
- Are you a veteran of the U.S. armed forces?
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Q. I did not get an awards letter. When should I expect one?
A. Awards letters usually take between 3-5 weeks from the date the University
receives your application. Delays can occur if your application is incomplete and during the
busiest times of the year.
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Q. How do my parents apply for a Parent PLUS Loan?
A. If you are a dependent student and your parents wish to apply for a Parent Plus
loan you must check "accept" to the Parent PLUS Loan on the award letter and we must receive a
Parent Plus Information sheet (included in the Financial Aid Forms packet). Upon approval, a Parent
PLUS Loan Promissory Note will be mailed to your parent. The Promissory Note must be completed and
mailed back to the Financial Aid Office at the Academy of Art University.
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Q. When will I receive a refund check?
A. Refund checks are disbursed within fourteen (14) days from the date a credit
balance exists on the student's account. The date you receive a refund check will vary based
on:
- The amount of financial aid you receive.
- The types of financial aid you receive.
- Whether or not your file is complete.
Pick up a list of "Important Financial Dates" at either the Financial Aid or Accounts Receivable
offices.
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Q. Where do I send my FAFSA, Financial Aid Forms packet and other financial aid documents?
A. For a quicker turnaround time, fill out the Free Application for Federal
Student Aid over the internet with FAFSA on the WEB at:
http://www.fafsa.ed.gov. You can send all
other financial aid documents to:
Academy of Art University
Attn: Financial Aid Department
79 New Montgomery Street
San Francisco, CA 94105
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Want More Information?
Contact Us:
Email:
financialaid@academyart.edu |
