Navigating Your Financial Aid Options with arkansas welding academy
Need financial help for school?
Understanding that financial considerations play a critical role in your educational decisions, we
are committed to helping you navigate the process of securing financial aid. Here, you will find comprehensive information on how to apply for and manage the assistance available, including federal and state grants, loans, and scholarships.
Whether you're starting your application or looking for ways to manage existing loans, our
goal is to provide you with the necessary resources and guidance to support your journey in welding education.
General Financial AID Questions
Applying For Financial Aid
To apply for financial aid, all you have to do is meet the below eligibility requirements and be a current student at AWA! The next step for you will be submitting these forms:
- Free Application for Federal Student Aid (FAFSA)
- A list of schools (beyond high school) previously attended
- Completed loan applications or a FSA I
- Personal references with a valid address and phone number
Once the above are submitted, the Financial Aid Office will notify you if further documentation is needed.
Filling out the FAFSA
Federal Loan Repayment Options
If a loan is the right fit for you, you have options. Here are just a few of them:
- Standard Repayment Plan
- Graduated Repayment Plan
- Extended Repayment Plan
- Revised Pay As You Earn Repayment Plan (REPAYE)
- Pay As You Earn Repayment Plan (PAYE)
- Income-Based Repayment (IBR)
- Income Contingent Repayment (ICR) (Direct Loan Only)
- Income-Sensitive Repayment (FFEL Only)
Financial Aid Programs
All students will receive a copy of The Student Guide for Financial Aid, published by the U.S. Department of Education. Arkansas Welding Academy is designated as an eligible institution by the U.S. Department of Education for participation in the following programs:
- Federal Pell Grant
- Federal Supplemental Education Opportunity Grant (SEOG)
- William D. Ford Federal Direct Subsidized and Unsubsidized Student Loans
- William D. Ford Federal Direct Parent PLUS Loans
- Institutional Loans
- Veterans Administration Benefits
- State Scholarship, Prepaid, and Grant Programs.
Whichever path is right for you, AWA will be there to help simplify the process and get you on the track to success. Contact us today for more information; either fill out the form above or call us at 501982-9353 and a representative will get back to you shortly.
GENERAL ELIGIBILITY REQUIREMENTS
If you’re interested in receiving federal student aid, you must:
- Be enrolled in an academic program leading to a degree or diploma
- Have certification of a high school diploma or GED
- Not be in default on a student loan or owe a refund on a federal grant received at another institution
- Maintain satisfactory academic progress, as outlined in the school’s catalog
- Be a United States citizen or eligible non-citizen
Your eligibility is determined through a formula based on your FAFSA-- this will also determine how much aid you receive.
College Navigator
Net Price Calculator
College Scorecard
Annual Student Loan Acknowledgement
What is the annual student loan acknowledgement?
Starting in the 2021-22 award year, all borrowers (both students and parents) will complete the Annual Student Loan Acknowledgement on https://studentaid.gov/. For a Direct PLUS Loan made to a parent borrower, only the parent completes the Annual Student Loan Acknowledgement. A copy of the completion certificate for the annual student loan acknowledgment must be turned into the administration office as proof of meeting this requirement.
The Annual Student Loan Acknowledgement should take less than 10 minutes to complete. The experience will be personalized based on the borrower’s attributes, but generally—
First-time borrowers (those who have no current loan balance) will
- Answer a few questions about their state, school, expected degree, and field of study.
- View summary information from the College Scorecard about total estimated school costs, graduation rate, total estimated student loan debt, and estimated monthly payments.
- View general financial literacy information about borrowing student loans.
- Check a box acknowledging they read and understood the information.
- Returning aid recipients (borrowers with current outstanding loan balances) will
- View summary information about their loans and grants from the National Student Loan Data System (NSLDS®) as of the day they complete the acknowledgement. Information includes outstanding balance, estimated 10-year standard monthly payment based on the borrower's current balance, servicer information, loan limit information, grant summary, and grant limit information.
- Check a box acknowledging they read and understood the information.
How long will it take?
The entire acknowledgement process must be completed in a single session and will take approximately 10 mins.
What do I need?
- https://studentaid.gov/h/apply-for-aid/fafsa
- School Name
- Details on your income, financial aid, and living expenses
Entrance Counseling
What is Entrance Counseling?
If you have not previously received a Direct Loan or Federal Family Education Loan (FFEL), the Federal Government requires you to complete entrance counseling to ensure that you understand the responsibilities and obligations you are assuming.
If you are completing entrance counseling to borrow a loan as an undergraduate student, then the entrance counseling will fulfill counseling requirements for Direct Subsidized Loans and Direct Unsubsidized Loans.
How long will it take?
The entire counseling process must be completed in a single session. Most people complete counseling in 20-30 minutes.
What do I need?
- Verified https://studentaid.gov/entrance-counseling/
- School Name
- Details on your income, financial aid, and living expenses
Exit Counseling
FEDERAL LOAN REPAYMENT OPTIONS