The Art Institute of Michigan participates in the following programs:
Federal Pell Grant
To be eligible for a Federal Pell Grant, students must have a financial need, make application, prove U.S. citizenship or permanent resident status, be able to show graduation from high school or its equivalency, not owe a refund on a federal grant nor be in default on a federal loan, and maintain satisfactory academic progress in school. They also must have need according to a federal formula.
Federal Supplemental Educational Opportunity Grants
Federal Supplemental Educational Opportunity Grants (FSEOG) are for students who demonstrate exceptional financial need (with priority given to Pell Grant recipients). FSEOG does not have to be repaid, but there is a limited amount of funds available.
Federal Subsidized Stafford Loan
The Federal Subsidized Stafford Loan is a variable interest loan available to students through eligible lenders. The loan is obtained directly from private banks, savings and loan associations, and credit unions. To be eligible, the student must be a citizen or permanent resident alien of the United States and meet other eligibility requirements. Repayment of the loan begins six months after the student's last day of attendance.
Federal Unsubsidized Stafford/Parent Loan for Undergraduate Students
The Federal Unsubsidized Stafford Loan and Parent Loan for Undergraduate Students (PLUS) are variable interest loans available to students and parents through eligible lenders. The PLUS loan is a credit-worthy loan available to parents of dependent students. Independent students may borrow the Unsubsidized Stafford Loan without credit requirements. Unlike the Stafford Loans, whose payments begin six months after the student's last day in school, the PLUS loan repayment begins 30 days after the loan is disbursed. Download Brochure (PDF)
Federal Work-Study
Through the Federal Work-Study program, students have the opportunity to meet part of their expenses by working part-time on- or off-campus. A limited number of assignments are available, with priority given to students with the greatest need. Our Student Financial Services department has more details. The maximum students can earn through this program is the amount of their unmet need (the difference between expenses and all their resources).
Federal Perkins Loans
A Federal Perkins loan is a low-interest (5%) loan for undergraduate students with exceptional financial need. The federal government through your college makes these funds available depending on your need, the availability for Perkins funds and the amount of other aid you receive. Repayment of the loan begins nine months after you graduate, leave school or drop below half-time status.
Federal Academic Competitive Grant (ACG)
The Academic Competitive Grant is available to students who are receiving a Pell Grant, are full time in their first or second y ear of college in a degree program, who graduated from high school in 2005 or or later, and who took a program of study in high school considered to be rigorous. Each eligible student may receive two years of ACG. The award is up to $750 the first year and up to $1,300 the second year. To receive a second year grant, the student must have at least a 3.0 GPA at the end of the first year.
National Science and Mathematics Access to Retain Talent (SMART) Grants
SMART Grants are available to eligible students in the third and fourth years of certain bachelor's degree programs. Students must be receiving a Pell Grant, a U.S. citizen, and have at least a 3.0 GPA. If transferring from another school, the student must have at least a 3.0 GPA in classes for which credits are being transferred. The admissions office can provide the student with a list of eligible programs. Awards are up to $4,000 per year.
For a more complete description of federal aid programs, please ask for The Art Institutes Complete Guide to Financial Aid.