Course Descripons - The Art Institutes

Administra� ve & Financial Services
pay amounts owed to one or more na� onal credit bureau organiza� ons. Your academic transcript will not be released un� l
all debts to The Illinois Ins� tute of Art are paid in full.
Financial Planning
Financial Services is the business hub of the ins� tu� on. It provides a variety of student and management services. Within
this department are the following services and offi ces:
Student Financial Services
The Student Financial Services Department assists students and their families in developing a fi nancial plan to budget for
educa� onal expenses. Student fi nancial aid offi cers help students and parents complete the federal and state applica-
� ons for grants and loans applicable to the student’s circumstances. Once the student’s eligibility for fi nancial aid has been
determined, a fi nancial aid offi cer helps the student develop a plan for mee� ng educa� onal expenses. Extended payment
plans may be available to ease the burden of college costs. Individual payment op� ons allow students and their families to
spread some costs over a longer period in monthly or quarterly installments. Financial Aid planning services are available to
students and their families for consulta� on throughout the year.
Sa� sfactory Academic Progress
The Illinois Ins� tute of Art is approved as an eligible Title IV funding ins� tu� on. All students who receive federal or statesponsored
fi nancial assistance must maintain sa� sfactory academic progress for fi nancial assistance eligibility. Students
receiving any form of fi nancial aid are required to meet standards for academic progress and a� endance. Proof of such
progress on a periodic basis is verifi ed prior to any disbursements of fi nancial aid. Failure to make sa� sfactory academic
progress or sa� sfactory a� endance requirements may result in the termina� on or reduc� on of fi nancial aid.
Suspension and Reinstatement of Financial Assistance, All Programs
Students who are suspended from a program of study or terminated from The Illinois Ins� tute of Art are ineligible for fi nancial
assistance un� l they regain admission and comply with sa� sfactory academic progress requirements.
Financial Assistance Appeal
Students who are denied or suspended from fi nancial assistance may fi le an appeal under appropriate federal and state
guidelines with The Illinois Ins� tute of Art Student Financial Assistance Review Commi� ee.
Federal Student Financial Aid
The purpose of federal student fi nancial aid programs is to provide eligible students with an opportunity to obtain a college
educa� on. Central to the purpose of fi nancial aid is the belief that students and their families, to the extent possible, have
the primary responsibility to pay for the student’s college educa� on. Financial aid is made available to assist eligible students
when family resources are not suffi cient to meet college costs. All students seeking fi nancial assistance are required
to complete the Free Applica� on for Federal Student Aid (FAFSA). The FAFSA is the fi rst step in the fi nancial aid process. The
answers provided on the form are entered into a formula approved by the U.S. Department of Educa� on and the results,
called the Expected Family Contribu� on (EFC) are used to measure the family’s fi nancial strength. Students are encouraged
to seek fi nancial aid. Students and families should not rely solely on these funds to support themselves throughout the
academic year.
The Student Financial Services department is responsible for accurate documenta� on and valida� on of fi nancial informa-
� on. In addi� on to explaining fi nancial aid programs and fi nancial aid fi nancing plans, the department also determines student
eligibility before fi nancial aid is distributed by the Accoun� ng Department. It is the student’s responsibility to comply
with all requests for informa� on in a � mely fashion to con� nue receiving fi nancial aid. Federal fi nancial aid is awarded on a
fi scal year basis beginning July 1 and ending June 30. Students must complete a new FAFSA each year.
111 Financial Services