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Financial Aid Options

College is a significant investment in your future. You have a number of options for financing your education, and we’re here to help you make sense of them. From grants to student loans to scholarships to Federal work-study, we offer more than $36 million in financial assistance to students annually.

FAFSA, officially known as the Free Application for Federal Student Aid, is the form that prospective college students fill out to apply for federal grants, loans, and work-study funds. It is administered by the U.S. Department of Education, which provides more than $150 billion in student aid each year.

Your financial aid eligibility cannot be processed until after you’ve been accepted as a student to AUM, but we’re more than happy to help answer any questions you might have before then. If our financial aid FAQ doesn’t provide the answer, our staff will be happy to assist you if you have additional questions.

Important Changes

FAFSA 2024-25 Updates

As a result of the FAFSA Simplification Act, Federal Student Aid is updating the FAFSA process to expand access to federal student aid and provide an easier, streamlined FAFSA experience for students and families.

Key Changes

  • The 2024-25 FAFSA is available periodically as part of the soft launch.
  • Although the 2024-25 FAFSA is available, schools will not begin to receive FAFSA information until late-January or early-February. This means that schools will not be able to communicate requirements, if applicable, to students until they have had time to process and review your FAFSA. Auburn University at Montgomery plans to communicate additional requirements to students through their AUM email account, if applicable, by mid-March and will update here if this changes.
  • The FAFSA will be streamlined and more user-friendly with fewer questions.
  • The Student Aid Index (SAI) will replace the Expected Family Contribution (EFC).
  • Federal aid eligibility will be extended to more students.
  • IRS Direct Data Exchange (DDX) makes entering tax information easier and will be required for students, spouses, and parents to transfer their 2022 tax information or non-filing status.
  • The number of family members in college will no longer factor into the FAFSA calculation.
  • Untaxed items such as payments to tax-deferred retirement or pension plans, veteran’s non-educational benefits, and worker’s compensation will no longer be required.
  • Parent assets will now include net worth of all businesses and net worth of a family farm, if applicable.
  • For divorced or separated parents, the parent who provided the most financial support to the student will need to provide their information. Previously, the parent who the student lived with the most provided their information. If the designated parent is remarried, then the information of the parent’s current spouse must also be provided.
  • Everyone contributing to the FAFSA must have their own Federal Student Aid account. Each contributor, including the student, will access their account with their own FSA ID (account username and password).  Contributors are encouraged to create an account at least 3 days before beginning the FAFSA so that identity can be validated in advance.

Financial Aid Application Process


Fill Out the
Online Application

AUM has a priority deadline of March 1 each year. This means the Federal Processor must receive the FAFSA on or before March 1st. Please note that an electronic submission may take 2-5 business days to reach the Federal Processor. For priority consideration, you’ll want to file at least a week prior to March 1.


Apply for an

Create an FSA ID here. If you are a dependent student, your parents should also create an FSA ID as they will need to sign your FAFSA as well.


Gather Financial

Collect income and asset information, federal tax returns, etc. for the year prior to the FAFSA award year. For example, if you are filling out the FAFSA for the 2023-2024 academic year, you will need information from your 2021 federal income tax return(s), W-2(s), etc.

You will also need to list AUM’s Title IV school code (008310) on the FAFSA to have your information released to this institution.


Submit Your

Complete your FAFSA online here. Make sure that you electronically sign your application with your FSA ID. If you are a dependent student, make sure that one of your parents signs with his or her FSA ID as well.


Check Your AUM
Email Account Often

Your AUM email account is the official mode of communication for the university. Be sure to check your email account on a regular basis. If additional information or documentation is needed once you have submitted your FAFSA, an email request will be sent to you.


An Aid Package
Will Be Awarded

The AUM Office of Financial Aid will create an award package and you will be notified of your eligibility. Your aid package will be based on the information provided on the FAFSA, as well as institutional information. An award information email will be sent once you have been awarded. Also, you may check your Webster account for your award information. Learn more about the awards process.

Questions? We can help.

The Office of Financial Aid is here to help answer your questions about the financial commitment of college, how to create a solid plan for paying your student loans, what to expect when applying for scholarships and grants, and more. Visit our office, give us a call, or submit a question using our contact form, so you start feeling comfortable and confident about your financial plan for college.

Explore the forms you’ll need for these financial aid options.

Explore Forms Contact Financial Aid
Resource Library

Additional Financial Aid Resources

From planning financial aid for summer months to reviewing our formal financial aid policies, browse our additional financial aid resources.

Financial Aid FAQs

The financial aid staff is always willing to take the time out of their day to answer your questions. But if you’ve got a question that needs answering ASAP, there’s a good chance you can find the answer on our Frequently Asked Questions page. Explore our curated list of commonly asked questions about AUM financial aid.

View FAQs

Student Financial Counseling

You’re not alone in planning your financial commitment and journey at AUM. the AUM financial aid staff works hard to make an education at AUM affordable for every student. The Student Financial Counselors on campus are available to create an individualized plan to help you best tackle paying for your education.

Student Financial Counseling

Financial Aid Resources

Contact Financial Aid

Entrance and Exit Loan Counseling

First time Federal Direct Loan borrowers at AUM must complete loan entrance counseling. This important information explains the mandatory process borrowers must undergo along with their responsibilities prior to accepting a federal loan. The primary reason for these efforts is to ensure that students have lower rates of delinquency in repaying their loans along with lower rates of defaulting on the loans.

The entire process is virtual and completed in 20-30 mins. Exit counseling provides important information to prepare you to repay your federal student loan(s).

If you have received a subsidized, unsubsidized or PLUS loan under the Direct Loan Program or the FFEL Program, you must complete exit counseling each time you:

  • Drop below half-time enrollment
  • Graduate
  • Leave school

First time Federal Direct Loan borrowers at Auburn University at Montgomery must complete a loan entrance counseling before funds can be disbursed.

Federal Direct Loan entrance counseling may be completed here.

Note: First time first year borrowers must wait 30 days after the first day of class before the 1st loan payment can be disbursed to the student’s AUM student account.

Students that borrow from the Federal Direct Loan or Perkins Loan Program are required to complete exit counseling when any of the conditions below are met. Exit counseling helps students understand their rights and responsibilities as student loan borrowers. The exit counseling session(s) will provide useful tips and information to help manage student loans, including repayment plans and estimated monthly payments.

Conditions when exit counseling is required:

  • The student graduates – required even if the student begins a new program of study the next semester.
  • The student ceases to be enrolled at least half-time – required even if student transfers to another school and is enrolled at least half-time there.

Students that borrowed Federal Direct Stafford or Federal Direct Graduate PLUS loans under the Federal Direct Loan Program or Federal Family Education Loan Program (FFEL) are required to complete exit counseling when departing from Auburn University at Montgomery. Exit counseling is required before students withdraw, graduate, or drop below half-time attendance (even if transferring to another school).

Students may complete the exit counseling in one of two methods listed below:

  • Preferred Method: Complete online here.
    * Students must log into the website, and select “Complete Counseling” and then choose “Exit Counseling”
    * The online method is preferred as it provides students with their actual loan indebtedness amount and associated interest rates.
  • Secondary Method: Via the paper or PDF copy of the counseling session.
    * Students must complete pages 19, 21, and 22 of the hard copy and send to the Financial Aid Office.

Students that received funds from the TEACH Grant Program are required to complete exit counseling when any of the conditions below are met. The exit counseling helps ensure students understand their rights and responsibilities as TEACH Grant recipients.

Conditions when exit counseling is required:

  • The student graduates – required even if the student begins a new program of study the next semester.
  • The student ceases to be enrolled – required even if the student transfers to another school and is enrolled at least half-time there.
  • The student changes major to a TEACH Grant ineligible program.
Financial Aid

Federal Work Study

The Federal Work-Study Program is a federally funded program that provides part-time employment opportunities in various offices on campus and in the community to students who demonstrate financial need based on the results of the Free Application for Federal Student Aid (FAFSA). Students are paid at an hourly rate (typically minimum wage), and receive their pay through the university payroll system on a bi-weekly basis for hours worked. Federal Work-Study funds will not be credited directly to a student’s AUM student account.

Work-Study eligibility is determined each year as a result of early submission of the FAFSA and a student’s financial need.
Funding levels and the number of positions are limited, therefore, positions are not guaranteed to all eligible applicants or from one year to the next. Recipients must agree to work the hours required by these positions. The award amounts are typically made to allow you to work a maximum of 20 hours a week. Work schedules and positions are determined each semester, and are planned around the student’s class schedule. Priority consideration during the initial awarding period is given to students that complete the FAFSA by the March 1st priority date, and indicate you are interested in Work-study on the FAFSA.


  • You must complete the FAFSA.
  • You must have financial need as determined by the results of the FAFSA.
  • You must be enrolled at least half-time at AUM.
  • You must meet and maintain Satisfactory Academic Progress.
  • You must meet all other financial aid eligibility requirements.
You've Got Options

Financial Aid Options for College

It’s important to think about your financial future when you’re applying for colleges or continuing your education career for another year. AUM offers a wide variety of scholarships, grants, student loan options, and federal work-study programs to help you manage the financial demands that college can pose.

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