Financial Aid: Applying for Financial Aid
NEW! EARLY 2017-18 FAFSA AVAILABLE OCTOBER 1
To apply for financial aid at the School of the Art Institute of Chicago, students must complete the Free Application for Federal Student Aid, most commonly known as the FAFSA at fafsa.gov. Consult the 2017-18 Financial Aid Instructions [PDF] for complete instructions.
Expected Family Contribution
The FAFSA collects information about the student (and parents for dependent students) regarding income, number of family members, number of family members in college, and plans for college and determines a level of financial need for the student. SAIC uses the resulting Expected Family Contribution (EFC) to determine the amount of financial assistance to be provided to the student for their education.
Your FSA ID - Your and Your Parent's (if applicable) Digitial Signature
Completing the FAFSA is easy and convenient. You (and your parents if applicable) will need an FSA ID to sign your FAFSA. Your FSA ID is a digital signature used for signing the FAFSA each year, loan applications, and other financial aid documents. You can also use it to access your financial history and information at the National Student Loan Data System (NSLDS), StudentLoans.gov, and StudentAid.ed.gov.
2017-18 Suggested Priority Deadline: November 15 for undergraduate Illinois Residents, January 1 for All Others Students.
The new 2017-18 Early FAFSA is now available beginning October 1, 2016. SAIC's suggested priority deadline is November 15, 2016 for Undergraduate Illinois Residents and January 1, 2017 for all others. Some types of financial assistance are limited in funding, so the earlier you apply, the better. SAIC begins issuing financial aid awards for eligible students in January each year.
Online FAFSA Submission and the IRS Data Retrieval Tool
Watch this quick video about using the IRS Data Retrieval Tool:
Students and families may want to complete the FAFSA On The Web (FOTW) worksheet before inputting the information online. Once the FAFSA is submitted online, as long as the school code was included, SAIC will receive an electronic copy from the federal government. After completing the FAFSA and receiving confirmation it has been processed from the federal government, students and families must review and submit corrections at fafsa.gov within five days to ensure accurate financial aid estimates.
After successful completion of the FAFSA, all degree-seeking students will be sent an official Award Letter packet outlining financial aid options and the next steps required in the process. Typically, the award is based on full-time enrollment/standard enrollment for the program; any deviation from that condition will, most likely, result in a change in the financial aid award. Most aid sources require the student to be enrolled at least half-time. See www.saic.edu/adjustingyouraidforenrollment for additional details.
Summer and Winter Terms
Students desiring financial aid estimates (including merit scholarships) for summer and winter terms must complete an SAIC Institutional Financial Aid application for the term.
On Campus Classes Only
If you are only planning on enrolling in classes on-campus, you will need to submit an SAIC Institutional Financial Aid application for on-campus classes only. It is available online at saic.edu/faforms in PDF format or may be picked up in person at the Student Financial Services office.
Study Trip Classes (with or without on campus classes)
If you are planning on enrolling for a winter or summer study trip, you will need to complete the online Study Trip Pre-Registration application by logging into SAIC Self-Service and clicking on the "Study Abroad" link in the Academics section of the Student Center. This application will allow you to pick up to 3 study trips for financial aid estimates as well request a financial aid estimate for additional on-campus classes (summer only). You should visit the SAIC Study Abroad/Off-Campus webpage for additional details on registration and study trip deposit information.