What types of aid are available at
Veteran’s Benefits – ATOM programs are approved for the
training of Veterans and eligible individuals under U.S. Code Title 38. Any
honorably discharged veteran of the US armed forces is eligible to receive
educational benefits by submitting an application from the Veteran's
Representative (Financial Aid Officer) located in the Financial Aid Office. Rules
and regulations associated with this type of educational benefit are also
available for students' review. Apply at www.va.gov or Toll Free number:
Federal Subsidized Direct Stafford
Loans are awarded
based on demonstrated financial need. Demonstrated student need is determined
by subtracting the expected family contribution (EFC) from the anticipated cost
of attendance (COA) budget. This is determined by the Financial Aid Office for
the student’s program of enrollment. Students who qualify for this loan will
have the federal government pay the interest while the student is in school and
during the grace period of six months after the student has completed the
program or withdraws; as well as during the deferment period.
Federal Unsubsidized Direct Stafford
Loans are awarded to
all eligible students regardless of financial need. Maximum Unsubsidized Loan
amounts are determined by subtracting all financial aid received from the
estimated COA budget. Students are offered the option of paying the interest
while they are in school or they may allow it to accumulate while in school and
during the grace and deferment periods.
Federal Direct Graduate PLUS Loan is a fixed rate loan that can be used
to help cover the costs of attending college for graduate students. You must be
either a U.S. citizen or permanent resident. A credit check is required;
however, income or assets and credit scores are not considered as part of the
eligibility criteria. Before applying for a Graduate PLUS Loan, a graduate or
professional student must also apply for and the school must determine the
student’s eligibility for the maximum annual Federal Subsidized Loan and/or
Federal Direct Unsubsidized Loan amounts that he or she is eligible to receive.
However, a graduate or professional student is not required to receive Federal
Subsidized Loan and/or Federal Unsubsidized Loan funds as a condition for
receiving a Federal Graduate PLUS Loan.
The U.S. Department of Education
became the sole lender for the federal education loans as of July 1, 2012. ATOM
now awards and processes all Stafford and Plus loans through the Direct Lending
|Annual Loan Limits||Undergraduate||Graduate||Interest Rate|
|Subsidized Direct||$5,500||3.4% 6 months after graduation|
|Unsubsidized Direct||$7,000||$20,500||6.8% accrues immediately upon disbursement|
|Direct Graduate PLUS||$23,048||7.9% accrues immediately upon disbursement|
Who can apply for Financial Aid?
considered for financial aid, you must meet all the following requirements:
- Be a U.S.
citizen or eligible non-citizen
registered with Selective Service (if required)
- Have a
financial aid need, (not required for some loans)
- Have a
high school diploma or GED
- Cannot be
in default on any educational loan
- Do not owe
a refund on a federal grant
satisfactory academic progress
How is financial aid determined?
aid is based on demonstrated financial need. This is determined by taking the
Cost of Attendance (COA) at ATOM and subtracting the Expected Family
Contribution (EFC). The EFC is generated by the information reported on the
Free Application for Federal Student Aid (FAFSA) and is verified by a federal
income tax return and/or agencies providing non-taxable income.
Financial Aid Websites: