The purpose of federal student financial aid programs is to provide students with an opportunity to obtain a college education. Central to the purpose of financial aid is the belief that students and their families, to the extent possible, have the primary responsibility to pay for the student's college education. Financial aid is made available to assist students when family resources are not sufficient to meet college costs. All students are to be treated fairly and equitably by applying policies and procedures for determining eligibility consistently. Though applicants are encouraged to seek financial aid, students should not rely solely on these monies to support themselves throughout the academic year.

Students receiving any form of financial aid are required to meet standards for academic progress and attendance. Proof of such progress on a periodic basis is verified prior to any disbursements of financial aid. Failure to make satisfactory academic progress or meet satisfactory attendance requirements may result in the termination or eduction of financial aid.

Though the financial aid staff of The Art Institute of Salt Lake City is responsible for accurate distribution, explanation, documentation, and validation of financial aid requirements, it is the student's responsibility to comply with all requests in a timely fashion if the student wishes to continue receiving benefits. Federal aid grants are awarded on a fiscal year basis, beginning July 1 and ending June 30, so some applicants may need to complete the application process twice during an academic or calendar year.

The Free Application for Federal Student Aid (FAFSA) form is a standard document used to determine eligibility for federal and some state aid including Federal Pell Grant, Federal SEOG (Supplemental Educational Opportunity Grant), Federal Stafford Loan, Federal Parent Loan for Undergraduate Students (PLUS), Federal Work-Study, Perkins Loans, and State Grants. Most students complete the FAFSA online at fafsa.ed.gov.