Submit FAFSA & AIMC Financial Aid Application forms as soon as possible and 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 weeks after the start of the term.

If you would like to receive financial aid, please follow the checklist below:

1. Start by downloading the Financial Aid Checklist & use it to track the steps outlined below.

2. Complete the Free Application for Federal Student Aid (FAFSA) at https://studentaid.gov. Our school federal code is 03327400.

3. Complete Entrance Counseling, a Master Promissory Note (MPN), and the Annual Student Loan Acknowledgment for Graduate/ Professional Students at studentaid.gov.

4. Complete the AIMC Application for Financial Aid.

5. Fill out the AIMC Loan Request Form.

Please contact our Director of Financial Aid at FAofficer@aimc.edu with any questions.

If a student has special circumstances or a change in circumstances not already reflected on the FAFSA (such as loss of employment, retirement, or loss of untaxed income) he or she can ask the college to review the changed circumstances by submitting the college’s Policy Appeal Form defining the situation and providing actual figures. In addition, a student may request to have his or her Cost of Attendance adjusted due to special or unusual circumstances. Examples include medical or dental or nursing home expenses not covered by insurance, unusually high child care costs, etc. The appropriate documentation of the unusual circumstances and/or expense must be attached to the college’s Policy Appeals Form and submitted to the financial aid office for review and final submission to the Appeals Committee. The student will be notified in writing of the committee’s decision.

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.

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 trimester receives eligibility for annual loan and grant maximums for the first and second trimesters, (first academic year). Eligibility is renewed for the third and fourth trimesters, (second academic year.) Students may potentially borrow for five two-trimester academic years while completing the program (on the 10-trimester schedule), or longer, depending on available aid.

​

DISBURSEMENT TIMING

Your Federal Direct Loans will be disbursed in the Terms/Year you indicated in the AIMC Loan Request Form. Your loans may be disbursed around the 4th week after the Add/Drop period, provided attendance has been confirmed. Please budget accordingly. To calculate the amount of funds you will have available for books and living expenses, first determine your tuition charge based on your unit load.

Please contact our Financial Aid office with any questions. We can be reached at FAofficer@aimc.edu or 951-232-6299.

The current limit of the Unsubsidized Loan is $20,500 for two trimesters at AIMC. If you wish to pursue additional borrowing with the federal credit based Graduate PLUS Loan, please complete the online application & required documentation at https://studentaid.gov/plus-app/grad/landing prior to requesting Grad PLUS Loans at AIMC. For details including eligibility, please visit https://studentaid.gov/understand-aid/types/loans/plus/grad.

Financial Aid students are required to complete the Exit Counseling when graduating for each term that enrollment drops below 6 units. Complete Exit Counseling here.