Grants and Loans
The following financial aid programs are available to those who qualify. For additional information contact Tamara Arment, Director of Financial Aid at 877 300 9866 x 104 between 8:30AM and 5:30PM, Monday through Friday during the school year. More limited hours are available during the summer break. All students are eligible to apply for Federal Title IV funds, which will be awarded and disbursed to qualified students/parents.
Free Application for Federal Student Aid [FAFSA]
Students complete the FAFSA to determine their eligibility for all applicable loans and grants. The saa Financial Aid Director can process your FAFSA electronically at the time of your financial aid appointment.
Stafford Loans and Plus Loans
These Federal programs enable a student or a qualified parent to borrow from a bank, credit union or any participating lender. The federal government guarantees these loans through a private agency. For further information, the Department of Education's “Student Guide“ may be obtained in the financial aid office. Tamara Arment, Director of Financial Aid, will answer any additional questions at your scheduled financial aid appointment.
The following is the saa policy for refunds back to Title IV programs:
- First to receive refund: Stafford Loans, up to amount disbursed.
- Second to receive refund: PLUS, up to amount disbursed.
- Third to receive refund: Pell, up to amount disbursed.
- Fourth to receive refund: Student
Pell Grant
Eligibility is determined at the time the FAFSA is processed. This grant is awarded based on financial need, and awards range from $400-$4,310 per academic year, for eligible students. Grants are free money, so you will not repay the award amount. In order for saa to determine your eligibility for the Pell Grant, you must complete the FAFSA.
Ohio college opportunity Grant
Students enrolled in the Associate Degree Program are eligible to apply for the Ohio College Opportunity Grant [OCOG]. This grant is awarded based on financial need, and awards range from $480-$3,996 per academic year, for eligible students. You will not repay this award amount. Eligibility is determined upon completion of the FAFSA. The FAFSA is processed through the Department of Education, which shares the information with the State of Ohio.
Subsidized Federal Stafford Loan
This is a student loan, and it must be repaid. The federal government pays the interest on this loan while you are attending school. Your first payment on this loan will be due 6 months after you graduate or your last date of attendance. The maximum amount a First Year student can borrow is $3,500. A Second Year student can borrow a maximum of $4,500. The first step in applying for the Subsidized Stafford Loan is completion of the FAFSA.
Unsubsidized Federal Stafford Loan
This is a student loan available to independent students, and students whose parents have applied for and been denied for the PLUS loan credit check. This loan must be repaid. The student is responsible for the interest that accrues on this loan while the student is attending college. Interest begins to accrue on this loan after the first disbursement has been received. If you choose to defer the interest while you are attending college, the accrued interest will be capitalized and added to the principle balance of the loan when you either graduate or officially terminate your enrollment at saa. The maximum amount to borrow for first or second year is $4,000.
Download saa's “Helpful Tips for Choosing an Alternative Student Loan“