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Financial Aid Application
The Free Application
for Federal Student Aid (FAFSA) Form
The FAFSA form is a standard document used to determine your eligibility for
Federal and some state aid, including:
- Federal Pell Grant
- Federal SEOG (Supplemental Educational Opportunity Grant)
- Academic Competitiveness Grant
- Federal Stafford Loan
- Federal Work-Study
- State Grants
- Work-Study
Tips for filling out the FAFSA
Follow the instructions carefully. Give yourself time and quiet. Find a place
and time to complete the form without interruption. Get organized. Gather your
personal and family financial records. Here's a checklist of records you may
need:
- Last year's federal tax returns forms 1040/1040A/1040EZ and W2 forms
- If you haven't filed a return yet, try to do that before
you apply for financial aid.
- If you can't find last year's return, call Student Financial
Services at The Art Institutes International Minnesota and we'll help you
get a copy from the IRS.
It is important to keep a copy of your tax return because you may be asked
to provide it to the Student Financial Services office later.
- Checkbook records
- Savings account and investment statements
- Installment and mortgage loan payment books
- Information relating to income including wages, dividends, Social Security
benefits, welfare payments, alimony or child support, Veterans Administration
benefits, and disability benefits.
All information provided to the school will, of course, be kept confidential.
Ai Minnesota is in compliance with the provisions of the Family Rights and Privacy
Act of 1974. This law regulates the release of any personal information.
Involve other family members who must provide information. Your parent(s) will
need to complete the parent section of the form if you are classified as a "dependent" student
for Federal Financial Aid purposes. Remember to sign the form; if you apply through
FAFSA on the Web, you will need to print, sign, and mail the signature page.
(If you do not have a printer, the signature page will be mailed to you.) A parent
must also sign if they contributed information to the form.
If you need assistance with the form, feel free to call our Student Financial
Services for help if you need it. Our number is 800-777-3643.
Federal Loan Applications: Student
To apply for a Federal Stafford Loan (student loan), you may apply on line, or
use the form provided by the Student Financial Services office. If you apply
on-line, you will need to print, sign, and mail the Promissory Note. If you do
not have a printer, the lender will mail you the promissory note -- you will
need to sign and return it. We suggest that you wait to apply for your loan until
you receive your student financial plan, so that you will know how much the school
recommends that you borrow. Read the promissory note before you sign it. It is
a legal document requiring you to pay back the money you borrow. Be sure to answer
all of the questions on the application carefully, and accurately, and completely.
These are the grade level maximums. You can apply for up to these amounts:
| Grade Level |
Dependent Student |
Independent Student |
| 1 |
$3,500 |
$7,500 |
| 2 |
$4,500 |
$8,500 |
| 3-4 |
$5,500 |
$10,500 |
Loans for periods of time that are less than
three quarters may need to be pro-rated.
Before you receive a loan, you will need to participate in a loan counseling "Entrance
Interview". Before you leave school, you will need to participate in a loan counseling "Exit
Interview". Both of these can be done on-line through the Loan Counseling link
in the left sidebar.
Federal Loan Applications: Parent
An eligible parent qualifies for Federal PLUS (parent loan for undergraduate
students) Loans while their dependent son or daughter attends school. To apply
for a PLUS loan, one of your parents must complete the application and pass a
credit check. The parent borrower may either apply online (see loan application
link in the sidebar), or can use the application provided by Ai Minnesota. We
suggest that your parent wait to apply for this loan until you receive your student
financial plan, which will show the recommended amount to be borrowed. The maximum
amount that a parent can borrow is the cost of education minus any aid that the
student is receiving. Your parent completes the Borrower section of the form
and you, the student, complete the Student section. If you apply on-line, you
will need to print, sign, and mail the Promissory Note; both the parent borrower
and the student will need to sign the promissory note. If you do not have a printer,
the lender will mail you the promissory note--you and the parent borrower will
need to sign and return it.
Supplemental Data Form
In addition to the loan application, students who apply for a loan will need
to complete a Supplemental Data Form. This form is available through the Student
Financial Services offices.
When to Apply for Financial Aid
As soon as you enroll at The Art Institutes International Minnesota, you should
apply for financial aid. Appropriate application forms are available in the Ai
Minnesota enrollment packet -- the Free Application for Federal Student Aid (FAFSA),
applications for the Federal Stafford Student Loan and Federal Parent Loan for
Undergraduate Students (PLUS) with a list of preferred lenders, and The Art Institutes
Merit Award application. If you are enrolled before the forms are available for
the year in which you will be starting school, and you need to know as soon as
possible what your financial aid amounts might be, we can provide you with an "Estimator" form.
Continuing students should apply as soon as possible after the new year's FAFSA
is distributed. Deadline dates will be provided each year.
Downloadable Information & Forms
Types
of Aid and Determining Eligibility (PDF)
Financial
Aid Estimator Form (PDF)
You will need the free Adobe Acrobat Reader in order to open and print these
documents.
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