Federal Financial Aid Programs
Interested students should submit the Free Application Form (FAFSA) for federal financial aid in the year preceding the year for which the request is made.
Students from their home or in the campus of their preference will request the FSA ID. This is the password that will allow them to process the request of Federal Financial Aid FAFSA. In order to acquire this identification students must enter the Internet page www.studentaid.gov.
After acquiring their identification, students will complete the request of Federal Financial aid FAFSA. During the process they will select the code of the Inter American University campus in which they will study. The University will electronically receive the information about the eligibility of the applicant, will produce the “Institutional Student Information Record” (ISIR) and will communicate with the applicant. This form is advantageous because the process is made agile, errors are avoided, and the applicant does not have to wait for the mail. Normally the answer is received in Inter American University within 72 work hours after the request is transmitted.
Federal Direct Loans
The Federal Direct Loan Program offers unsubsidized loans. An unsubsidized loan is not awarded on the basis of need and interest will be charged to the borrower from the moment of disbursement until it is paid in full.
Unsubsidized Federal Direct Loans must be requested directly to the University. The student can borrow up to $20,500.00 each academic year.
The total amount that a student can borrow may not exceed $138.500.
Student are required to the complete an orientation on loans in the electronic page of the University and submit the certification with the required documents to the Financial Aid Office.
Federal Work Study Program
The funds provided by the Federal Government to this Program are supplemented by funds contributed by Inter American University. Participants are assigned employment for which they receive compensation and which will permit them to pay part of their educational expenses. When possible, students are assigned employment related to their field of studies.
Commonwealth Funds
State Financial Aid Program
The Commonwealth of Puerto Rico has created several programs of financial aid for students at the Graduate level. These are: the Program of Additional Graduate Financial Aid and the Program of Specific Academic Areas. The state is protected by the federal law for the granting of these aid. Therefore the completion of the federal request FAFSA is required to participate in these programs. The Financial Aid Office of each campus is prepared to provide information on the elegibility requirements for these programs.
Institutional Scholarship Program
Inter American University allocates funds for scholarships each year according to student needs.
General Institutional Scholarship
This is a scholarship with basic eligibility criteria that have the purpose of taking care of students’ financial needs.
Institutional Graduate Assistantships
A limited number of assistantships are available each semester for students in both the masters’ and doctoral programs. Applications for these should be submitted to the chairperson of the department from which the assistantship is desired by April 30 for the first semester and by September 30 for the second semester.
At the master’s level, the assistantships provide a stipend and tuition benefits for a maximum of six (6) credits per semester and four credits per trimester.
At the Doctoral level, the assistantships provide a stipend equivalent to the pay for teaching three (3) credits.
Study Benefit Time Limits for Veterans and Beneficiaries
The beneficiaries of educational services for veterans, including eligible family relatives, have the right to enjoy these benefits onlyfor the required period of study to complete their academic degree as established in this Catalog and by the applicable legislation and regulations.