Financial Aid FAQs

At the International Academy of Design & Technology, we strive to take as much stress out of the financial aid process as possible for our prospective students.

As you consider your options for applying for various forms of financial aid to help pay for your education, you will most certainly have questions about the process. A few of the most common questions appear below. If the question you have is not answered here, you can always contact an IADT financial aid representative to assist you.

How much does it cost to attend IADT?

It depends on the campus you plan to attend and the degree you'd like to pursue. At IADT, we want every student to know the cost of their education, so we created an easy-to-use Tuition Calculator that will quickly determine the total cost of your tuition and fees.

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When will I have to pay my tuition?

Students are charged for tuition per term, and the cost of tuition for the term is due at the start of each term. In order to assist students in meeting these financial obligations, deferred payment contracts and financial aid are available for those who qualify.

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What is financial aid?

Financial aid is the name used for federal, state and private resources that may help pay for college costs. Typically financial aid consists of grants, scholarships or loans. Grants and scholarships do not have to be repaid. Loans must be repaid, and payments usually begin after the student is no longer enrolled at least half time. Financial aid is available only for those who qualify.

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Does IADT offer financial assistance?

The International Academy of Design & Technology participates in a variety of financial aid programs for the benefit of its students. Students must meet the eligibility requirements of these programs in order to participate.

IADT administrates its financial aid programs in accordance with prevailing federal and state laws and its own school policies. Students are responsible for providing all requested documentation in a timely manner. Failure to do so could jeopardize the student's financial aid eligibility. In order to remain eligible for financial aid, a student must maintain satisfactory academic progress as defined in IADT's campus catalogs.

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When is the best time to apply for financial aid?

It is recommended that students apply for financial aid as early as possible in order to allow sufficient time for application processing. Financial aid must be approved and all necessary documentation completed before the aid can be applied toward tuition and fees.

Financial aid is awarded on an award-year basis; therefore, depending on the length of the program, it may be necessary to re-apply for aid for each award year. Students may have to apply for financial aid more than once during the calendar year, depending on their date of enrollment. Students who need additional information and guidance should contact an IADT financial aid representative.

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Will IADT help me through the financial aid process?

At the International Academy of Design & Technology, we believe proper financial planning by the student is imperative. That's why at IADT, the financial planning process begins at the point of application and continues through graduation. You have various options when it comes to paying your education, and one of our financial aid representatives will be happy to explain them to you.

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How do I apply for financial aid?

The Free Application for Federal Student Aid, more commonly known as the FAFSA, is the single application needed to apply for all sources of federal aid. The FAFSA can be completed online at www.fafsa.ed.gov. It helps to complete the FAFSA with a PIN (electronic signature) to expedite the process. A PIN can be obtained by visiting www.pin.ed.gov. If you are a dependent student for aid purposes, both you and your parent will require a PIN to sign the application electronically.

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Why do I have to provide parent information on my FAFSA?

Students are considered dependent or independent for financial aid purposes based on criteria established by Congress. For example, students who are under the age of 24, single, have no dependents and are not veterans are typically considered dependent for financial aid purposes. Dependent students are required to have parents provide financial information in order to determine eligibility for the various federal aid programs. Check with an IADT financial aid representative to determine your dependency status if you are unsure.

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How often do I have to reapply for aid?

Students must reapply for federal and state aid each year. Typically, students should reapply for aid as soon as possible after January 1; however, check with an IADT financial aid representative to determine when you should reapply.

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What's the difference between a grant and a loan?

A grant is money that does not have to be repaid. Loans must always be repaid regardless of whether you complete your chosen program or are unsatisfied with your educational experience. Failure to repay your loans can result in serious consequences and negatively impact your ability to obtain credit in the future.

If you withdraw or are dismissed from IADT, you are responsible for repayment of any loan awarded to you. Our Loan Repayment Calculator is available to help you through the process.

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When do I have to repay my loans?

For most loans, repayment of the amount borrowed will begin after the student is no longer enrolled at least half time. Interest on the loan may be treated differently. Some loans are interest free while the student is enrolled. On other loans, interest may accrue even while the student is enrolled, though payment of the interest may not be required until repayment of the loan is required. For help in understanding the types of loans you have, you can contact an IADT financial aid representative.

In all cases, loans must be repaid regardless of whether you complete the program or are satisfied with your educational experience. Failure to repay your loans can result in serious consequences and negatively impact your ability to obtain credit in the future.

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If at any point in the process you have questions or need more information, an IADT financial aid representative will be happy to provide assistance.

To learn more about IADT, our degree programs or how to apply for admission, please contact us for more information.

The financial aid process and available programs may vary based upon the state where you live and the campus you choose to attend. Please refer to each school's catalog for a comprehensive list of available programs and requirements.
Financial aid is available for those who qualify. School grants or scholarships are based on established criteria as published in IADT catalogs and are awarded after verification that the conditions of eligibility have been met.
International Academy of Design & Technology is accredited by the Accrediting Council for Independent Colleges and Schools to award associate's degrees and bachelor's degrees. For more information on IADT's accreditation, visit the ACICS website at: http://acics.org.
Copyright © 2010 International Academy of Design & Technology. All rights reserved.