Federal Aid Programs
What You Need to Know
You must complete the Free Application for Federal Student Aid (FAFSA) to determine eligibility for all federal aid and federal loan programs. The FAFSA opens on October 1st first each year, and you are encouraged to complete the application as early as possible, as some aid is based on a first come basis. The school code number for the Art Academy is 003011. For more information, see www.fafsa.ed.gov or contact the Art Academy Financial Aid office at (513) 562- 8757.
For complete information about federal financial aid programs, visit Federal Student Aid.
Federal aid programs include:
Federal Pell Grant
This is a federal grant program available to undergraduate students who have not earned a bachelor's or professional degree. It is available to both full-time and part-time students exhibiting financial need as determined by the United States Department of Education. The FAFSA determines a student's eligibility for a Pell Grant.
Federal Supplemental Educational Opportunity Grant (SEOG)
This is a federal grant program designed to assist students who have received Pell Grants and who exhibit exceptional need. Awards are made at the school's discretion based on a pre-determined formula. Early submission of a FAFSA application is highly recommended.
Federal College Work-Study Program (FWS)
A student must demonstrate financial need, as determined by the FAFSA, before Federal Work-Study can be awarded. Students who are interested must verify their eligibility with the Financial Aid Office before a Work-Study position will be offered. If a student is eligible, he or she may be employed on campus. This program is ideal for students who wish to obtain flexible working hours.
Federal Direct Loan Program
Borrowers must complete a FAFSA to determine loan eligibility. Eligible first-time borrowers must sign a Loan Agreement/Master Promissory Note (MPN) and complete Loan Entrance Counseling before loans can be disbursed. Students must be enrolled at least half time in order to borrow Federal Direct student loans.
DISBURSEMENT OF FEDERAL STUDENT AID
Federal Financial Aid will be disbursed from the Department of Education to eligible student’s tuition accounts on or around the second week of each semester, provided that the student and/or parent have submitted all the required documents on time. Once the federal aid has been disbursed to the tuition account a Title IV refund will be processed within 14 days to those that have a credit balance on their tuition account.