The U.S. Government offers a number of grant and loan programs to help eligible students finance their college and graduate school educations. They can help you pay for your education expenses such as your tuition and fees, textbooks, and living expenses while you are a student. Grants do not have to be repaid as long as you meet specified requirements. Federal student loans offer funds at a reduced interest rate or with deferred payment. They are borrowed funds that must be repaid.
Eligibility is determined by the federal government and is based on financial need as well as a number of other factors. Click here for more information about eligibility.
International Academy participates in the following programs:
Applying for Federal Financial Aid
International Academy students may apply for federal student aid on their own by filling out a Free Application for Federal Student Aid (FAFSA) and submit information about yourself (e.g., social security number, tax return information, number of people in your household, etc.). By including our school code on your FASFA, your application will be reviewed to determine whether you are eligible and your level of need. Based on that information, International Academy will determine which grants and loans you may receive.
Because we pride our self in the personal dedication to each and everyone of our students, we are available to help you with the application process. Sometimes filling out financial aid applications for the first time can be overwhelming. That is why we are here to help, click here with your questions.
International Academy’s School Code is 015962.
Important Information About Student Loans
All student loans, whether federal Stafford loans or private loans, must be repaid. We have provided some tools to help you manage your finances and student debt. In addition, once you have taken loans, there are some important things for you to keep in mind:
- When you take a federal student loan you are agreeing to pay back the amount you borrow (loan principal) and any accumulated interest.
- The first payment will be due six months after you graduate or withdraw from school.
- If you have trouble repaying your federal student loan, for reasons such as low income, loss of job, etc. you may be eligible for a period of deferment or forbearance, during which no principal payments are due. In certain cases, the interest will accrue and capitalize, in others the interest will be paid by the Federal Government.
- If you fail to make payments on your Federal student loan for nine months (twelve months if your lender is Direct Loans), you will be considered in default. If you default, you will be turned over to a collection agency and reported to a credit bureau, potentially impairing your ability to apply for credit and preventing you from obtaining future student aid. In addition, the entire loan balance will become due immediately and any future income tax refund may be withheld to satisfy the debt to the government.
Our Financial Aid Office is here to help you with any financial aid or repayment questions:
Financial Aid Office Hours:
■ Monday- Friday: 8:30am-5:00pm (ET)