Financial Aid Process

Understanding the Financial Aid Process

Financial Aid can sometimes be a confusing process.Financial Aid Process AIMM

Our goal is to make the process as clear and simple as possible!

Continue reading to see step-by-step how you can receive the financial assistance you need.

Step 1. Filling Out FAFSA

Step 2. Complete Loan Counseling

Step 3. Sign MPN

Step. 4 Covering Out-of Pocket Expense Not Covered by Financial Aid

Helpful Tips

Step 1. Filling Out FAFSA

FAFSA is the application required by all schools in awarding federal student aid to those who qualify.

The FAFSA form helps you get access to receive:

  • Federal grants
  • Federal student loans
  • Federal Parent Plus loan for dependent undergraduate students

There are two main ways designed to help you complete your FAFSA. This includes:

  1. Download the myStudentAid app (available on iOS and Android and conveniently fill it out on a mobile device.
  2. Visit studentaid.gov to complete the FAFSA form on your mobile device or laptop

 

Please make sure that you complete BOTH the 2024-2025 and the 2025-2026 FAFSA and use the school code 031045


Step 2. Complete Loan Counseling

You are required to complete entrance counseling to ensure you understand the responsibilities and obligations you are taking on if you have never previously received a Direct Loan or Federal Family Education Loan (FEEL).

Undergraduate Students: The entrance counseling will fulfill counseling requirements for Direct Subsidized Loans and Direct Unsubsidized Loans.

Time Frame: The Counseling Process typically takes 20-30 minutes and must be completed in one session.

Information Needed/Prepared:

  • Verified FSA ID
  • School Name
  • Details on your income, financial aid, and living expenses

You will click on the link that says “Log In To Start” under “I Am an Undergraduate Student”

Click here to start your loan counseling.

 

 

Step 3. Sign MPN

What is a Subsidized/Unsubsidized Master Promissory Note (MPN)?

The Subsidized/Unsubsidized Master Promissory Note (MPN) is a legal document in which you promise to repay your federal student loan(s) and any accrued interest and fees to your lender or loan holder.

There is one MPN for Direct Subsidized/Unsubsidized Loans and a different MPN for Direct PLUS Loans.

Most schools are authorized to make multiple federal student loans under one MPN for up to 10 years. 

You will click on the link that says “Log In To Start” under “I Am an Undergraduate Student”

Click here to get started on your MPN

 

Step. 4 Covering Out-of Pocket Expense Not Covered by Financial Aid

Once your Financial Aid Award Notice has been emailed to you, the Bursar will email you a Statement of Account, which will notify you of any cash balance not covered by Financial Aid.

AIMM has a Payment Plan for payment on account balances not covered by financial aid (payments can be paid by cash, check, debit card, money order or credit card)

 

 

How to Fill Out the FAFSA

 

 

Want more details regarding how to prepare for the FAFSA Process?

Download our FAFSA Infographic here

 

 

 

 

 

 

 

 

 

What Happens After the FAFSA

 

 

 

 

How to Create your FSA ID

 

Helpful Tips

Tips for Parents

Apply for a PLUS Loan for Parents

https://studentaid.gov/plus-app/parent/landing

Determine Your Dependency Status

 

Questions?

Email AIMM at financialaid@aimm.edu

or call at (770) 242-7717

 

 

 

 

 

 

What If I Forgot My FSA ID?

 

 

Helpful Links:

Financial Aid Contact

Financial Aid Forms and Links