AIMC Berkeley offers financial aid through federal loan programs. We work with students on a case by case basis.
Our Financial Aid Office, can assist you and answer all your individual questions & needs.
The Federal Direct Loan Program, available at a fixed rate, constitutes the primary source of funding for financial aid at AIMC Berkeley. Detailed financial aid information on the various federal financial programs, as well as free information on preparing for and funding education beyond high school, is available from the US Department of Education (USDE) at www.studentaid.ed.gov.
Graduate students may be eligible for two different financial aid programs (1) Direct Unsubsidized Loans and/or (2) Graduate PLUS loans.
(1) Direct Unsubsidized Loans
Direct Unsubsidized Loans are available to graduate or professional degree students. You are not required to show financial need to receive a Direct Unsubsidized Loan. Students who are admitted to AIMC Berkeley as graduate students, i.e., possess a bachelor’s degree or the equivalent of three years of undergraduate study (90 semester units), are eligible to borrow graduate-level Direct Unsubsidized (“Stafford”) Loans. For each academic year, a student may borrow a combined total of $20,500 from unsubsidized loan programs.
As of July 1, 2018 the Federal Unsubsidize Loan interest will increase from 6% to 6.595% and the Grad-Plus will increase from 7% to 7.595%
This has been approved by the congress office. Origination fee is still pending. Any students requesting for federal loans as of July 1, 2018 will be subject to the new rate.
(2) Graduate PLUS loans (“Gradplus”)
Students needing additional assistance may consider the federal Graduate PLUS loan. This loan is based on your personal financial credit history. This loan has a 4% origination fee and a higher interest rate of 7.9%. Please contact the financial aid office for further details on the eligibility requirements for this program.
Reimbursement to Veterans and Eligible Persons. For information or for resolution of specific payment queries, veterans should contact the Department of Veteran’s Affairs nationwide toll-free number at 1-888-442-4551.
To maintain your financial aid status once your application is approved, you need to maintain satisfactory academic progress.
Please contact our Financial Aid office with any questions. We can be reached at FAofficer@aimc.edu or 951-232-6299.
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.
Summit FAFSA & AIMC Financial Aid Application forms by one week prior to the start of the trimester for timely processing. Loan processing will be initiated one week after the start of term, once attendance has been confirmed. Assuming all documents are in place, funds will be disbursed from the Department of Education 6-8 after the start of the term.
If you would like to receive financial aid, please follow the checklist below:
Please contact our Director of Financial Aid at FAofficer@aimc.edu with any questions.
Submit forms by week 9 of the current trimester to be given priority process & likely receipt of funds in the first round of disbursement. Fund distribution depends on Satisfactory Academic Progress & student GPA. It can be delayed by any pending academic work.
The doctoral program is not currently eligible for federal Financial Aid. Students entered in the Dual Degree program are eligible for private Sallie Mae loans. Alternately, you could apply for the MSOM to qualify for Federal Financial Aid for the majority of your AIMC education before adding the Doctoral Completion track at the end.
The Doctoral Completion program is not currently eligible for Federal Financial Aid. Students entered into the Doctoral Completion program are eligible for private Sallie Mae loans.
The fund of $15,713.00 was awarded to AIMC, Berkeley on August 3, 2020, through the CARES Act. The money was funded to the bank account of the institution on August 17, 2020.
There are thirty-nine students at the AIMC, Berkeley who are or could be eligible to participate in the Federal student financial aid programs under Section 484 of the Higher Education Act of 1965, as amended, and thus are eligible to receive Emergency Financial Aid Grants to students under Section 18004(a)(1) of the CARES Act.
Of the thirty-nine eligible students, 39 (100%) have received an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the CARES Act.
The total sum of funds ($15,713) received by AIMC, Berkeley through the CARES Act was divided by the number of eligible students (39) and distributed evenly $402.90 each (rounded).
The eligible recipients were informed by the administration of AIMC, Berkeley that this disbursement was to provide emergency financial aid grants under the CARES act to students for expenses related to the disruption of campus operations due to coronavirus.
Quarterly Budget and Expenditure Reporting under CARES Act (10/10/2020)
Quarterly Budget and Expenditure Reporting Under CARES Act (01/10/2021)
Quarterly Budget and Expenditure Reporting Under CARES Act (04/10/2021)
Federal work-study is based on financial need as determined by the FAFSA. Awards are given first to those with Expected Family Contribution (EFC) $5,000 or less (as determined by the FAFSA) and it based on available funding. Jobs include on-campus positions such as clinic reception assistants, library assistants, herb room assistants and peer tutoring. The College also offers limited institutional work-study that is not based on financial need, as available.
Both federal and institutional work-study students are paid an hourly rate for the work performed. Students may work up to 20 hours a week in a variety of positions. Students must be enrolled at least half-time and provide proof of employment eligibility in the US, as stipulated by the INS.
Visit our Campus Jobs page to learn more about working on campus.
"One of my favorite things about AIMC is the sense of community. We come together to support each other through challenges. Instead of a sense of competitiveness between students, there is a caring community that lifts everybody up. The faculty and staff are approachable and provide wonderful support during your graduate journey."- Master’s Student