- Campus Life
The primary responsibility for financing an education lies with the family. The Financial Aid Office evaluates the need and determines a family's ability to contribute to the cost of education. Financial aid from AIC supplements the family contribution.
A federally legislated formula is used to calculate a family contribution based upon the information provided on the Free Application for Federal Student Aid (FAFSA).
The "expected family contribution" is derived by an analysis of the family's resources. Family income is not the only determinant; other factors considered include the number of family members in the household, number of children attending college, and the assets of both the student and parents.
The "expected family contribution" is then subtracted from the total cost of attending AIC to determine the student's "need". The amount of need a family demonstrates determines the amount of financial aid the student may be eligible to receive.
A student's financial aid "package" may include grants, scholarships, loans, and work to assist in meeting the student's need.
In order to be eligible to receive financial aid, students must meet the following criteria:
Institutional aid is awarded to undergraduate students enrolled full-time (12+credits per semester).
Federal aid is awarded to students enrolled at least half-time (6+credits per semester).In some instances, students may be eligible for a Pell Grant if enrolled at least 1/4-time (3-5 credits per semester).