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Additional Financial Aid Resources
There is more to financial aid than you would imagine. Below are a number of resources, helpful entrance and exit counseling information, a variety of financial forms, and helpful links. Students are always welcome to contact the financial aid office with questions.
Loan Information
View your Direct loans online, e-sign your Master Promissory Note (MPN), and complete your Entrance Counseling at studentaid.gov.
Learn about education tax incentives such as the HOPE Scholarship Credit, the Lifetime Learning Credit, and more at http://www.irs.gov.
Complete the FAFSA online at https://studentaid.gov/h/apply-for-aid/fafsa. You must use a pin number or be sure to print and mail in the signature page after completing the FAFSA. Pin numbers are available for you and your parent at https://studentaid.gov/fsa-id/create-account/launch
View your previous KHEAA loans online.
The U.S. Department of Education provides Stafford or Direct Loan forgiveness for certified teachers who teach for five consecutive years in a public or private nonprofit elementary or secondary school designated as a low-income school. For each complete year of teaching, $5,000 of loan debt is forgiven.
Students who have student loans are responsible for completing an exit interview at the time of graduation or withdrawal. Repayment of the loan begins six (6) months after leaving school. For repayment, loan consolidation, and deferment options, please review the Department of Education Website.
Check your Stafford Loan history online. You will need your FSA ID and password to access your account.
Private student loans should be considered “last resort” opportunities. You should utilize all other financing options before applying for a private product. Remember, federal student loan programs are less expensive that private loans and should be considered first. Private loan interest typically begins accruing immediately and fluctuates with market rates. Undergraduate private loan borrowers will typically be required to have a cosigner.
The lender, not AUM, determines eligibility for a private student loan. However, the university is required to certify your enrollment and calculate the amount you can borrow. The total loan amount is limited to cost of education minus financial assistance. Private student loan checks are mailed directly to the AUM Cashier Office, and require both the university and student must endorse the check for the funds to be applied to the student AUM account.
The university does not endorse or recommend any specific private loan lenders or products. A nonprofit, independent website that provides information about private student loan programs and offers a comparison calculator.
The Internet’s largest free scholarship search engine, FASTWEB is available with just a click! Also check out StudentScholarships.org, Alabama’s leading source for finding scholarship money! Sallie Mae is also a good resource to search for Scholarships.
Counseling Information
View a guide on student financial aid provided by the U.S. Department of Education.
Students with disabilities may be eligible for financial assistance through Alabama’s Department of Rehabilitation Services. Call 800-441-7578 to find the nearest office for assistance.
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.
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).
Helpful Links
In additional to our catalog financial aid resources, here are some helpful links that promote student success and financial wellness as you start your journey at AUM.
