Acupuncture School Financial Aid

The Acupuncture & Integrative Medicine College, Berkeley (AIMC Berkeley) is authorized to award Title IV student financial aid to all eligible students. The primary source of funding is the Federal Stafford Loan Program, available at a fixed interest rate of 6.8% (as of 1/10/08). Stafford loans have a 6-month grace period before repayment begins. The grace period begins 6 months after you cease being at least a half-time student. Click here to view a list of AIMC Berkeley Preferred Lenders. Other forms of private loans are available as well.

Much of the financial aid information AIMC Berkeley is required to make available is provided in the U.S. Department of Education Student Guide. The Student Guide for the current academic year is available from the Financial Aid Office or can be accessed online at http://www.ed.gov/studentaid, under Student Guide.

How to Apply for Financial Aid
If you would like to receive financial aid, complete the AIMC Berkeley Application for Financial Aid. Then go to the FAFSA Web site to submit your federal application. Our school code is 033274.

Students must complete their financial aid applications in a timely manner, at least one month before the beginning of a term if the financial aid is needed to pay tuition. Late tuition payment due to failure to make timely application will result in a late fee of $100 being assessed.

Rights and Responsibilities of Financial Aid Recipients
The rights and responsibilities of students receiving aid are provided in detail in the USDE Student Guide. In addition, prior to receiving a first loan disbursement at AIMC Berkeley, all recipients are required to attend a Loan Entrance Interview with the Director of Financial Aid. The Entrance Interview provides information required by federal regulation for all Federal Stafford Loan borrowers.

Academic Year
An academic year for financial aid purposes is two trimesters. Annual loan and grant awards are paid in two trimesters. For example, a student who begins AIMC Berkeley in the Fall receives eligibility for annual loan and grant maximums for the first and second trimesters, Fall and Winter (or the first academic year). Eligibility is renewed for the third and fourth trimesters, Summer and Fall (or the second academic year.) Students may potentially borrow for five two-trimester academic years while completing the program (on the 10 trimester schedule).

Types and Sources of Aid
Graduate Aid: Students who are admitted to AIMC Berkeley as graduate students, i.e. have a bachelor’s degree or the equivalent of three years of undergraduate study (90 semester units), are eligible to borrow graduate-level Stafford loans for a combined annual (two trimesters) total of $20,500 from the subsidized and unsubsidized programs. (This works out to total loan funds of $30,750 per calendar year/3 trimesters). Subsidized Stafford loans do not accrue interest while you are a student or during the 6-month grace period after you cease enrollment. Unsubsidized Stafford interest accrues from the time the loan is disbursed.

Undergraduate Aid: Students who do not meet the requirements of graduate status are eligible to borrow undergraduate Stafford loans for a combined annual (two trimesters) of $10,500 from the subsidized and unsubsidized. (This works out to total loan funds of $15,750 per calendar year/3 trimesters). Undergraduates may also qualify for Pell Grants up to $4,310 (effective 2007–08); SEOG grants and California residents may also be eligible for Cal Grants (deadline for 2008–09 is March 3, 2008). Students classified as undergraduates are advanced to graduate status at the start of their 3rd term provided a minimum of 90 semester credits has been earned.

Satisfactory Academic Progress Policy
Federal regulation requires AIMC Berkeley to define and enforce Standards of Academic Progress for students receiving Federal financial aid. Failure to meet these standards will result in the loss of financial aid until action is taken by the student to regain eligibility. To be making satisfactory academic progress toward the completion of a degree, students must maintain a specified grade point average and proceed through the program at a pace leading to completion within a specified time frame. Students are required to complete a minimum number of units each academic year of attendance. (See required completion rates.) Satisfactory academic progress is measured at the end of each academic year.

Required Grade Averages
At the end of the each academic year (two trimesters) the cumulative grade point average (GPA) will be determined and documented in each student’s official record. Students whose cumulative GPA is at least 2.5 will be considered to be making satisfactory academic progress.
Required Completion Rate

In order to be considered making satisfactory academic progress toward degree completion, students must earn the minimum units in the Completion Rate Chart each academic year.

Completion Rate Chart:
Academic Year = 2 trimesters

Year 1: 18 units

Year 2: 36 units

Year 3: 54 units

Year 4: 72 units

Year 5: 90 units

Year 6: 108 units

Year 7: 126 units

Year 8: 144 units

Year 9: 162 units

Year 10: 177.5 units

This policy allows for the completion of the program in 20 trimesters or 10 academic years/6.67 calendar years. A standard program student will typically finish the program in 10 or 11 trimesters or 5 academic years. An academic year is defined as two trimesters.

The following will not be considered as successfully completed hours:
“F” – failing grades
“I” – incompletes
“W” – withdrawals
“NC” – no credit (for audited classes)

Probation and Reinstatement Procedures
Qualitative Progress: Students who fail to meet the minimum GPA requirements will be placed on satisfactory academic progress probation for one trimester. During that trimester students must raise their GPA to the stated minimum grade requirements. Students who fail to meet the requirements during this period of probation will no longer be making satisfactory academic progress and will be ineligible for Federal financial aid until such time as the minimum GPA requirements are meet.

Quantitative Progress: If a student does not earn the required number of credits at the end of each academic year (2 trimesters) he or she will not be eligible for new annual loan limits until the appropriate number of units has been earned. If the student has not borrowed up to the maximum annual loan limits for two trimesters ($18,500 Graduate and $10,500 undergraduate) any remaining funds may be borrowed for the next term. The student must earn the required number of units before loans will be certified for new annual limits.

Appeal Procedures
Students may appeal the progress policy when extraordinary circumstances result in the lack of progress. All appeals are made to the Financial Aid Committee.

To be making satisfactory academic progress toward the completion of a degree, students must also maintain a specified grade point average and proceed through the program at a pace measured at the end of each academic year leading to completion within a specified time frame.

If a student is found to be ineligible for Federal financial aid because satisfactory academic progress requirements were not met (GPA or credits earned), the student may appeal this decision to the school’s Director of Financial Aid. This should be done by in writing, stating the reasons why the minimum requirements were not met and why financial aid should not be terminated. The Director of Financial Aid will review the appeal with the Financial Aid Committee and determine whether suspending financial aid is justified. The student will be advised in writing of the decision.

Return of Title IV Funds (Federal Stafford Loan Funds)
If a Federal financial aid recipient withdraws from all classes before completing 60% of the payment period (or period of enrollment), AIMC Berkeley will calculate the amount of Title IV aid the student did not earn. The amount of unearned aid equals the difference between Title IV aid that was disbursed or could have been disbursed for the payment period and the amount of Title IV aid that was earned. Examples of the treatment of Title IV funds when a student withdraws are available from the Financial Aid Office.

For further questions, contact Financial Aid Director Brenda Johnson at 510/666-8248 x107, or send an e-mail.