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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.
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
FSA ID
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
Information
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 2020-2021 academic year, you will need information from your 2019 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
FAFSA
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.
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.
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.
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:
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.
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.
