Federal Consumer Information

student aid

 

Basic Financial Aid information Need-based and Non-Need based Federal Programs Innovations Design Academy can offer quality education. However, many qualified students will need financial assistance in the form of Federal Aid in order to attend school.  Innovations Design Academy can offer Federal Financial Aid to qualified students who do not have adequate financial means for school.

To apply for Federal Student Aid and how eligibility is determined students enrolling in Innovations Design Academy, should make application for Financial Aid using the free application for Federal Student Aid (FAFSA) on the web:
http://www.fafsa.ed.gov/

A student’s financial aid package may include a Federal Pell Grant and Federal Stafford Loan.  You should use FAFSA4caster to learn more about the financial aid process and get an early estimate of your eligibility for federal student aid.  You can access the FAFSA4caster at:
http://www.fafsa4caster.ed.gov/F4Capp/index/index.jsf

 

This site will help students understand Federal Financial Aid and it assists students in determining how they can apply for Federal student aid and who qualifies. It also allows students to get an early start on the financial aid process by learning the basics.

 

Distribution of Funds

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Most Federal Financial Aid is awarded on the basis of financial need. Need is the difference between your cost of education and the amount you and your family are expected to contribute toward your education.

A standard formula is used for all applicants to determine this amount, which is called the expected family contribution (EFC).  If there is anything left over after subtracting the expected family contribution from your cost of education you are then considered to have financial need.