We know the financial aid process can sometimes be confusing, so we've tried to make it a little easier with this short video. Once you have auditioned and been accepted to AMDA, you will receive an admission packet with all the necessary enrollment information. Here, you'll be asked to follow a series of steps to ensure the completion of your financial planning in a timely manner. Your first step is to submit your tuition and housing deposits. These refundable deposits indicate your intent to enroll and reside in student housing. Deposits can be paid through the student portal on our website or by phone. Your next step is to apply for a federal student aid ID visit the site FSAid.ed.gov. both parent and student should create their own separate FSA ID using an email address, a unique username, and a password. Once you've created your ID, your next step is to navigate to fafsa.gov and login. This is where you'll complete the Free Application for Federal Student Aid. By completing the FAFSA, you'll be considered for all federal student aid programs. Be sure to use AMDA school code 016082. The code works for both New York and Los Angeles campuses. And be sure to complete the appropriate form for the school year you're applying. Before completing the application, you'll need to gather the following information: your social security number, your driver's license, if applicable your tax documents, including your federal income tax return if it was filed for the prior two years, your parents tax documents, including your federal income tax return if it was filed for the prior two years, permanent resident card, bank statements, current business, and investment records. completing the application will be ambles notification that you're requesting financial assistance. After completing please allow a minimum of 72 business hours for the Department of Education to process your application. Check your email frequently for additional information requests. Once the application is processed and AMDA has received it, one of two things will happen. One, if no further information is needed, you will receive an award letter which will outline your financial aid award and any remaining payments, more about this in a moment. Or two, some applications are selected by the Department of Education for verification. If you are selected, you'll need to submit a correction utilizing the IRS Data Retrieval Tool to transfer your income data to the IRS. You will also need to submit a verification worksheet which can be located on our website. In most cases no further income documentation is needed. You will be notified by the financial aid department if any additional information is required. This may include items such as: proof of citizenship, proof of high school completion and proof of selective service registration. Once you receive your financial award letter, it will include the following information, the tuition housing and fees such as health insurance, it will also outline your financial aid awards, which may include AMDA merit scholarships, AMDA grants, federal grants Pell and SCOG, federal student loans remaining balance to cover. AMDA gives over 14 million to students in scholarship and grants each year. These institutionally funded need and/or merit based awards are given to students based on the results of their audition application and FAFSA. If you're awarded and accept federal direct Stanford loans, you're required to go to the website to complete your Master Promissory Note (MPN) at studentloans.gov. The MPN is the legal agreement between the student and the US Department of Education regarding the terms and condition of the loan. Once you've completed the MPN return to the website to Complete Entrance Counseling, this is mandatory for anyone receiving a federal loan. Your funds cannot be distributed without confirmation that entrance counseling has been completed. Your next step is options for covering the balance, you may utilize any combination of the following options. The payment plan is listed in your student portal. It includes your monthly payment amounts and due dates. If you plan to use this option, please accept the payment plan in the student portal. There is the standard for payment plan for scheduled payments at 0% interest. Two payments are collected before the semester begins and two more payments before the next semester begins. And there is the extended payment plan. This option allows payment over an eight month period. There is a $295 processing fee, which may be waived under certain conditions, students should contact the financial aid department to use this option. There is 0% interest charged for both the standard and extended payment plans. For parents of dependent students, there is also the option of combining the federal Parent PLUS loan. Parents who would like to apply for this loan should visit amda.edu/finaid to download a copy of the Parent PLUS loan credit check authorization form, complete the form and then fax it to your financial aid counselor. The counselor will conduct the necessary credit check if approved, the parent should then complete the PLUS MPN and then the PLUS loan counseling if required at studentloans.gov. You can apply and get more information on the Parent PLUS loan at studentloans.gov. If the Parent PLUS loan is denied, the parent may reapply with a cosigner. If a cosigner is not an option, the student will qualify for additional federal student loan funds, please contact the financial aid department. Monthly Parent PLUS loan payments begin 60 days following the full disbursement of the loan, but can be deferred while the student is in school and up to 60 days after leaving school by contacting your loan servicer. A private or alternative loan is also an option to cover your remaining balance, please view private loan options at AMDA.edu. Private and alternative loans are credit based and may require a cosigner for approval. We encourage you to apply for as many outside scholarships throughout your education at AMDA. Here are some resources: student scholarships at student scholarships.org. collegeboard at collegeboard.com. Fast Aid at fastaid.com. Scholarships at scholarships.com. Fast Web at fastweb.com. cap x at capx.com. And scholarship points at scholarshippoints.com. State aid the LA campus is eligible for Cal Grant. The deadline to apply is March 2. More information is available on mygrantinfo.csac.ca.gov. The New York Campus is not a degree granting program and is not eligible for the tap grant. Other resource,s AMDA is a VA eligible school, you may submit your certificate of eligibility to the financial aid department. AMDAaccept state savings plans, please contact your state savings plan for more information. Finalizing your award. Once you've decided which option you will use to cover your balance please be sure you have completed your entrance counseling and completed the loan master promissory notes at studentloans.gov Once you've completed the loan application process and will be notified and will revise your financial aid award letter. Once again. We're here to help. Feel free to contact our financial aid counselor at 1-800-367-7908. The Financial Aid Office will help you with any questions and can direct you to the appropriate counselor. Thank you, and let's have a great year at AMDA.
