FINANCIAL AID AVAILABLE
The following financial aid programs are available at AUHS for those who qualify:

Federal Pell Grant for 2022-2023 (FPELL)
This federal student grant program is designed to provide assistance to any eligible undergraduate student pursuing post-high school education. The value of the award currently varies from $0 to $6,895, depending on the financial need of the student. Grant amounts may vary from year to year depending upon federal regulations. This program is the foundation for most financial awards.

Federal Supplemental Educational Opportunity Grant(FSEOG)
This federal student grant program is intended to assist undergraduate students who have been determined to have financial needs. It is only available to those students who qualify for the federal Pell Grant.

Federal Work Study
The Federal Work Study provides part time jobs to undergraduate students with financial need, allowing student to earn money to help pay their education expenses. The program encourages community service work and work related to student’s course of study.
For more information on Work Study, go to https://studentaid.ed.gov/types/work-study.

Subsidized Federal Stafford Loan as of July 1, 2022
This program is a low fixed interest rate (4.99%), long-term loan program for undergraduate students who have demonstrated financial need. The maximum a student may currently borrow is $3,500 for the first academic year of study, $4,500 for the second academic year, and $5,500 for subsequent years. Repayment is required to begin six (6) months after the students completes or terminates their education or become less than a half- time student. The program is not available for graduate and professional students.

Unsubsidized Federal Stafford Loan as of July 1, 2022
This is a federal loan program designed to allow students who do not qualify for federal interest subsidize under the Federal Stafford Loan Program to obtain an unsubsidized loan. The maximum amount an independent student may currently borrow for the first and second academic years is $6,000 in unsubsidized loans. In addition, students may borrow $7,000 in unsubsidized loans for subsequent years with fixed interest rate (4.99%). Eligibility in graduate programs begins at $20,500 per academic year. If a student does not qualify for a Federal Stafford Loan or some portion of that loan, he/she may borrow the remaining amount under this program. The fixed interest on this loan is also capped at 4.99% and payment may be deferred until six months after the student no longer attends the university or becomes less than a half-time student. However, interest will accrue during the deferment period.

Federal PLUS Loans as of July 1, 2022
This is a competitive interest rate loan that provides additional funds to help parents pay for the educational expenses of a dependent student. The interest rate for this non-need-based loan is market driven with a cap of 7.54%. Repayment begins approximately 60 days after the first disbursement of the loan. This loan is subject to the policies of the individual lender. In most cases, the maximum loan amount is based on the student’s estimated cost of attendance minus any estimated financial assistance the student has been or will be awarded during the academic year.

Federal Direct PLUS Loans for Graduate Students (GRAD PLUS) as of July 2022
Federal Graduate PLUS Loans for students pursuing a graduate or professional degree provide additional funds for credit- worthy graduate students to help pay for students’ educational expenses. If a student has no credit or a poor credit history, he/she may still qualify for a loan buy applying with a credit- worthy endorser. Interest rates are fixed and established annually by the U.S. Department of Education. Current interest rates are 7.54%. Repayment begins immediately after the loan is fully disbursed.

Private Loans
These loans have a competitive interest rate and are provided by a private funding source. The eligibility for these loans is determined by the borrowers (and co-borrower’s) credit history. The lender determines the repayment terms and conditions of these loans. AUHS does not provide a preferred lender list.