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API is able to offer a significant number of student’s financial assistance. We realize that the cost of an American Professional Institute education, you and/or your family may not be able to provide the resources necessary to fund your college education. We hope that no student will fail to consider attending American Professional Institute due to financial reasons. The Financial Planning Department at API is committed to helping you find ways to finance your education. Our staff can help you sort through various types of financial aid through the Federal Student Aid Programs.
*To receive consideration for Federal Financial Aid (Pell, SEOG, College Work-Study and/or Loans) you must complete a Free Application for Federal Student Aid (FAFSA). This can be done electronically at http://www.fafsa.ed.gov. *It takes about 2-3 weeks to receive the results. This time is shortened considerably if you sign the application electronically. All the instructions are located at the above website. *Once API receives the results from your FAFSA, you may have to submit some additional documentation if your application is selected for verification. You will be notified of forms needed. Verification does lengthen the time to process a students’ file; therefore, it is imperative that you respond immediately with the requested documentation. *To apply for a loan. Students must first complete a Stafford Loan request using the API Loan Entrance Application located in our forms section. *Once we have received all applicable information, our normal processing time is 2 to 4 weeks. During peak periods such as orientation, processing may be longer. Therefore, it is imperative to start the process early to ensure that your funds will be available when fees are due.
Complete a Free Application for Federal Student Aid (FAFSA) or a Renewal FAFSA either online at www.fafsa.ed.gov or by mail. We recommend the online application because it is faster and generally more accurate. The application should be done each year as soon as possible after January 1st. What is American Professional Institute’s Title IV School Code? Our code is 016013.
Financial aid eligibility must be established each academic year. Can I use my W-2 forms to complete the FAFSA? No. You should complete your tax forms (1040, 1040A, 1040EZ, etc) and then use that information to complete your FAFSA.
Yes. Students may complete the FASFA on-line in the Financial Planning Office with financial aid representatives close by to help. The Financial Planning Office is located at each campus location.
Estimated awards are made during your packaging interview set by your Admissions Representative. Generally; processing time from the date all required documents are received is 14-30 days.
The federal government asks seven questions in step 3 of the FAFSA to determine a student’s independent status. They are: 1. Were you born before Jan. 1, XXXX*? 2. During the school year will you be working on a Master’s or Doctorate program? 3. As of today, are you married? (Yes, if you are separated but not divorced.) 4. Do you have children who receive more than half of their support from you? 5. Do you have dependents (other than children and/or spouse) who receive more than half of their support from you – now and will continue until June 30, XXXX*)? 6. Are you an orphan, or are you or were you (until age 18) a ward/dependent of the court? 7. Are you a veteran of the U.S. Armed Forces?
If you cannot answer YES to one of the above questions, you must include your parent’s information. You cannot use grandparents’ or other relatives’ information even if you live with them. If you have questions about parents’ information, please contact the financial planning department at (478) 314-4444 ext. 1128, 1113 or 1112 (Macon campuses), 404-370-1117 (Decatur campus) and 478-452-3900 (Milledgeville campus).
You must be an eligible non-citizen. Generally, you are an eligible non-citizen if you are: (1) A permanent resident and you have an Registration Receipt Card (I-551); (2) a conditional permanent resident (I-551C); (3) an other eligible non-citizen with an arrival record (I-94) from the U.S. Immigration and Naturalization Service showing any one of the following designations: ‘refugee’, ‘asylum granted’, ‘indefinite parole’, ‘humanitarian parole’, or ‘Cuban-Haitian entrant’. If you are in the United States on an F1 or F2 student visa, a J1 or J2 exchange visitor visa, or a G series visa (pertaining to international organizations), you are not an eligible non-citizen for purposes of receiving federal aid.
API students must first complete an API Loan Entrance Application and Promissory Note during your packaging interview.
Yes you must be enrolled by an API Admissions Rep before financial aid can be processed. I sent my FAFSA application several months ago and have not heard anything. How can I find out the status? You should go on-line at www.fafsa.ed.gov to check your FAFSA submission or call 1-800-433-3243, the Federal processor to make sure API’s school code (016013) was included. You may also contact the Financial Planning Department at your campus location.
If you review your Student Aid Report from the Department of Education and determine that changes need to be made, you can make corrections on-line at www.fafsa.ed.gov. You will need your PIN number to make corrections on the web. If you like, API can make corrections for you if documentation needed for the correction is provided.
If you don’t have a PIN number or you have forgotten it, you may request a PIN number or duplicate to complete a FAFSA online at www.pin.ed.gov. If you are a dependent student, your parent must have their own PIN number to sign the application also.
Grants are awarded based solely on financial need. Grants do not have to be repaid unless, for example, you are awarded funds incorrectly or you withdraw and owe a refund. Federal Pell Grant Pell Grants are the foundation of federal student aid, to which aid from other federal and nonfederal sources might be added. Pell Grants are generally awarded only to students who have not obtained a baccalaureate degree. Federal Supplemental Educational Opportunity Grant (FSEOG) FSEOGs are awarded to undergraduate students with exceptional financial need. Federal Pell Grant recipients receive priority. Since there are limited funds available, you should make sure that you apply by the April 1st priority deadline each year.
Long-term, deferred payment student loans are available to qualified students through agreements with banks, credit unions, and other lenders. Loans, unlike grants or work-study, are borrowed money that must be repaid, with interest. Student loans are a serious obligation. It is important to keep track of the amount of money you borrow and remember that your repayment amount will depend on the size of your debt and the length of your repayment period. For more information, visit www.studentaid.ed.gov/pubs. Federal Stafford (Subsidized) Student Loans Subsidized loans are based on financial need. The principle is deferred until six months after your last day of attendance at a half-time level. The federal government pays the interest on the loan while you are in school at least half-time, during your six months grace period, and during authorized periods of deferment.
This loan is a non-need based loan. While the principle is deferred until six months after your last day of attendance at a half-time level, you are responsible for the interest that accrues from date of first disbursement forward. Interest can either be paid while you are in school, or it can be postponed until you enter repayment. If you postpone paying interest, once you enter repayment it will be capitalized (added to principal) thereby increasing the outstanding balance on which interest accrues daily. PLUS Loans Parents can take out PLUS loans for their dependent undergraduate children. These loans are based on a credit check. The amount that can be received is based on the budget of the school minus any other financial aid the student is receiving. |