Once a student completes the FAFSA, they will receive a Student Aid Report (SAR) that summarizes the data from the FAFSA and determines the student’s official Expected Family Contribution (EFC).
After receiving your SAR, carefully review the information for mistakes. If you believe your information is incorrect, you may fix any mistakes by writing the correct answers on the Information Review Form located on the back of the SAR. Once the Information Review Form is complete, you can:
The Cost of Attendance (COA) is the total amount needed to attend college each year. Each school determines its annual average COA using a formula established by Congress. A student’s eligibility for financial aid will not be based on individual preferences and spending habits, but rather on standard budget allowances.
A student’s cost of attendance will include:
The cost of attendance for students attending AAU does include expenses related to the direct and indirect costs students may incur. The figure used to determine the indirect cost allowance is the national average obtained from the U.S. Bureau of Labor and Statistics.
Pell Grants are paid in installments over the course of a program of study. Pell funds are disbursed per session according to student’s enrollment status for the semester.
Each semester is comprised of two sessions; therefore Pell Grant recipients will have two Pell Grant disbursements per semester. A student must meet census before any disbursements are made.
Student loans will be disbursed to the school in two equal payments per semester. The first payment will be applied to the student’s school account no sooner than 30 days after the semester start date. The second payment will be applied to the student’s school account no sooner than 60 days after the first semester payment.
After a student loan is disbursed to a student’s school account, the business office will process any stipends due to the student within 14 days of the date of disbursement.
Stipends will only be issued after all tuition, books and other institutional charges have been paid. Once all financial obligations due to the institution are met any excess funds or stipends due to students will be disbursed. Disbursements to students will be made within 14 days after payment of tuition and other financial obligations due to the institution.