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Step-by-step guide to financial aid planning

Now that you're thinking about your creative future, it's time to look into financial aid planning for your education. Here, you'll find useful guides you can download and links that will help you learn more about the financial aid you may qualify for, including grants, loans, and scholarships offered in Chicago, IL. If you have questions, contact your Student Financial Aid Officer at The Illinois Institute of Art — Chicago; they're eager to help you develop a financial plan and guide you through the paperwork.

Begin by downloading The Illinois Institute of Art — Chicago 2011 Guide to Financial Aid for a comprehensive look at your options, next steps, and frequently-asked-questions. Print it out or keep it on your desktop for easy access anytime.

Useful links for you to explore

First, obtain your FAFSA code. You'll need a FAFSA (Free Application For Federal Student Aid) code to apply for federal financial aid. The FAFSA code for The Illinois Institute of Art — Chicago is listed below:
012584

Now it's time to Apply for your Personal Identification Number (PIN). You can apply for a PIN as you complete the FAFSA form on the Web, but it's helpful to apply for a PIN ahead of time. Then you will have it available when you are ready to complete your FAFSA form.

Before you start to complete your FAFSA form, you may want to visit Student Aid on the Web for more information. Remember that you are not alone. If you need assistance, contact the Student Financial Aid Office.

Ready? Use this link to take you to the FAFSA Form, where you will be taking the first step to funding your creative education. After you fill out the FAFSA form, we will receive an electronic copy of the form approximately a week after you submit it. Please contact the Student Financial Aid Office to make sure we received your form.

Know your federal financial aid options

After all applicable grants and scholarships are explored, direct (government) education loans should be your first source to fund your education. You borrow direct (government) education loans from the Federal government, and the direct loan servicing center becomes your single source for managing the repayment of your loans.

For general information, visit the Direct Loan Program Site. This site will provide you with information about loan limits, regardless of whether you are a dependent student applying for a loan with your parents or an independent student applying for a loan without your parent's help. Before you apply for a direct education loan, you must schedule a meeting with a student financial aid officer who can develop a student financial aid plan based on your specific set of circumstances. The direct education loan program offers the following types of loans:

Subsidized: For students with demonstrated financial need, as determined by federal regulations. No interest is charged while a student is attending school at least half-time, during the grace period, and during deferment periods.

Unsubsidized: Not based on financial need. Interest is charged during all periods, even during the time a student is in school and during grace and deferment periods.

PLUS: Unsubsidized loans for the parents of dependent students and for graduate/professional students. PLUS loans help pay for education expenses up to the cost of attendance minus all other financial assistance. Interest is charged during all periods. Download our Highlights of the Federal Direct Parent Loan for Undergraduate Students to learn more.

Consolidation: Eligible federal student loans can be combined into one direct consolidation loan.

Alternative or private loans are an option, too

Alternative (private) education loans are another great option to provide provide additional funding for your education after all other sources are sought.

Find out more about alternative or private loans to supplement your financial aid package.

Veterans: Explore your military education benefit

Learn how the GI Bill or Yellow Ribbon Program can help you earn your degree by visiting our military student benefits page.

Scholarship opportunities

Download a copy of Your Guide to Scholarships to give you a snapshot of the opportunities available to help make an Art Institutes education possible. An admissions representative at the school can answer your questions and help you explore the options you may qualify for.

Financial Aid Planning

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