Financial Assistance

ACAOM participates in the Federal Student Financial Aid program, which will fund its students their entire cost of attendance including tuition, fees and living expenses through subsidized and unsubsidized Stafford loans.

Eligibility

To be eligible for Stafford loans, a student must be degree-seeking, registered for at least a half-time academic workload, and making satisfactory progress. Stafford loans are processed once every two semesters and funds are disbursed in two payments early in each semester.

To comply with federal regulations, students on financial aid are required to pursue academic work continuously each semester (fall, spring, & summer) until completion. A leave of absence of not more than one semester per year is allowed, with approval of the Financial Aid Officer.

How to Apply

  1. Complete and file the Free Application for Federal Student Aid (FAFSA). This form can be completed online at http://www.fafsa.ed.gov. ACAOM’s federal school code is 031533.
  2. Complete the Financial Aid Request Form. This form contains dehttps://www.acaom.edu/wp-admin/post.php?post=12&action=edittailed information required for processing financial aid. First time applicants are encouraged to submit their request one month prior to the deadline to assure timely disbursement of funds. Please check with the Financial Aid Office for deadlines.
  3. Submit back-up documents if requested by the Financial Aid Office.

Scholarships

There are several institutional scholarships available each semester for qualified new students and once a year for continuing students.

Scholarships will be considered on two factors: first come first serve in completed applications and merit.

All applicants who complete their application by the posted scholarship deadline are automatically considered for New Student Scholarships. The total award pot varies annually. Individual award amounts are based on merit and over-all strength of the application, and weighed against all other eligible applications. Due to funds being limited, not all eligible applicants can receive monetary awards. Disbursements are applied to the students tuition account and can not be redeemed for cash.  Award amounts are disbursed over the first few semesters, and not given as a lump sum.  Some students may receive first semester textbooks in lieu of monetary awards.  Scholarship recipients must enroll in 9 or more credits (MAOM) / 7 or more credits (MIWM & MIHL) per semester in order to receive the disbursement for that semester.

If you wish to be considered for scholarships, it is strongly recommended that you complete the application early to ensure that funds are still available.

Disbursement of Funds

Financial aid checks are normally issued one week after the start of each semester. With the approval of the Financial Aid office, students on financial aid may defer tuition payment until the funds are disbursed. Contact the Financial Aid Office if you have not received your check.

VA Benefits

ACAOM is approved by the Department of Veteran Affairs (VA) for the training of veterans and other eligible persons. In order to receive Veteran’s Benefits, the veteran must first establish his/her eligibility with the VA directly. Once eligibility has been established, ACAOM certifies the veteran’s enrollment. Veterans may also visit the VA website for details.

Financial Aid FAQs

For answers to frequently asked questions, please click Financial Aid FAQs.