Financial Aid is money offered to help a student meet his/her college/school expenses. It could be provided by various sources such as federal and state agencies, colleges, foundations, and corporations. The amount of financial aid that a student receives is determined through federal, state and institutional guidelines. Students who demonstrate significant financial need may qualify for grant aid while students with less need may obtain low cost loans. Financial need is determined through a federal formula that assesses the family’s relative financial strength and ability to contribute to meeting the student’s educational costs.
What kinds of financial aid are available at AIMS Education?
There are three kinds of financial aid available to AIMS Education students. These are funded through the federal, state, Institute or city governments.
Grants - money that does not have to be repaid.
Loans - money that you borrow and agree to pay back with interest.
Scholarship - tuition waiver grants that reduces cost of tuition & fees.
The following federal grants and loans can help you with both tuition and other school related expenses:
Federal PELL Grant
Federal Supplemental Educational Opportunity Grant (FSEOG)
Academic Competitiveness Grant (ACG)
Federal Direct Loan Program
Your eligibility for any of these grants and loans varies according to the program, its funding source, your enrollment status and your financial need as determined by the college.
Scholarships are Tuition Waiver grants that are awarded usually on the basis of academic merit and financial needs of a student.