Financial Aid
AIMC Berkeley is authorized to award Title IV student financial aid to all eligible students. The Federal Direct Loan Program, available at a fixed rate, constitutes the primary source of funding for financial aid at AIMC Berkeley.
Detailed financial aid information on the various federal financial programs, as well as free information on preparing for and funding education beyond high school, is available from the US Department of Education (USDE) at www.studentaid.ed.gov.
Types and Sources of Aid
Graduate Aid
Students who are admitted to AIMC Berkeley as graduate students, i.e. have a bachelor’s degree or the equivalent of three years of undergraduate study (90 semester units), are eligible to borrow graduate-level Direct Loans. For two trimesters a student may borrow a combined total of $20,500 from the subsidized ($8,500) and unsubsidized ($12,000) programs. This works out to total loan funds of $30,750 per calendar year/3 trimesters. Direct Subsidized Stafford loans do not accrue interest while a student are taking classes or during the 6-month grace period after ceasing enrollment. Direct Unsubsidized Loan interest accrues from the time the loan is disbursed. For loans first disbursed after 7/1/06 the interest rate is a fixed 6.8% and the government charges a 1% origination fee of the loan amount requested.
Students needing additional assistance may consider the federal credit-based Graduate PLUS loan. This loan has a 4% origination fee and a higher interest rate of 7.9%. Please contact the financial aid office for further details on the eligibility requirements for this program.
Reimbursement to Veterans and Eligible Persons
For information or for resolution of specific payment queries, veterans should contact the Department of Veteran’s Affairs nationwide toll free number at 1-888-442-4551.
Work Study
Federal work-study is based on financial need as determined by the FAFSA. Awards are given first to those with Expected Family Contribution (EFC) $5000 or less (as determined by the FAFSA) and it based on available funding. Jobs include on-campus positions such as clinic reception assistants, library assistants, herb room assistants and peer tutoring. The College also offers limited institutional work-study that is not based on financial need, as available.
Both federal and institutional work-study students are paid an hourly rate for the work performed. Students may work up to 20 hours a week in a variety of positions. Students must be enrolled at least half-time and provide proof of employment eligibility in the US, as stipulated by the INS.
How to Apply for Financial Aid
If you would like to receive financial aid, please follow the checklist below. A printable versions of this checklist is available here: Financial Aid Checklist — 5 Easy Steps
- If you have not already completed the Application for Financial Aid (AFA) as part of the admissions process, please download and complete it and return to the financial aid office.
- Go to the FAFSA (www.fafsa.ed.gov) to submit your federal application (2011-12 for Fall 2011, Winter 2012, or Spring/Summer 2012 terms). Our school federal code is 033274.
- After the financial aid office has received the above information an award letter outlining your assistance and a loan request form will be mailed out. You will need to return a signed copy of the award letter and a completed loan request form to the financial aid office.
- Once the financial aid office has received all paperwork and the student has been at least conditionally accepted federal loans will be originated.
- After accepting your award, please go to www.studentloans.gov and complete an online master promissory note. Your pin number from filing the FAFSA also electronically signs your MPN. Loans can not be disbursed to the college without the prompt signing of a MPN.
- At this same website (www.studentloans.gov) complete the online Entrance Counseling. This is federal requirement and must be completed before funds will be disbursed.
Students must complete their financial aid applications in a timely manner, at least one month before the beginning of a term if the financial aid is needed to pay tuition. Late tuition payment due to failure to make timely application will result in a late fee of $100 being assessed.
Rights & Responsibilities of Financial Aid Recipients
The rights and responsibilities of students receiving aid are provided in detail in the USDE Student Guide (available at www.studentloans.gov). In addition, prior to receiving a first loan disbursement at AIMC Berkeley, all recipients are required to attend a Loan Entrance Interview with the Director of Financial Aid. The Entrance Interview provides information required by federal regulation for all Federal Direct Loan borrowers.
Professional Judgment/Special Circumstances
If a student has special circumstances or a change in circumstances not already reflected on the FAFSA (such as loss of employment, retirement, or loss of untaxed income) he or she can ask the college to review the changed circumstances by submitting the college’s Policy Appeal Form defining the situation and providing actual figures. In addition, a student may request to have his or her Cost of Attendance adjusted due to special or unusual circumstances. Examples include medical or dental or nursing home expenses not covered by insurance, unusually high child care costs, etc. The appropriate documentation of the unusual circumstances and/or expense must be attached to the college’s Policy Appeals Form and submitted to the financial aid office for review and final submission to the Appeals Committee. The student will be notified in writing of the committee’s decision.
Academic Year
An academic year for financial aid purposes is two trimesters. Annual loan and grant awards are paid in two trimesters. For example, a student who begins AIMC Berkeley in the Fall trimester receives eligibility for annual loan and grant maximums for the first and second trimesters, (first academic year). Eligibility is renewed for the third and fourth trimesters, (second academic year.) Students may potentially borrow for five two-trimester academic years while completing the program (on the 10 trimester schedule), or longer, depending on available aid.
Satisfactory Academic Progress
Federal Financial Aid regulations require that AIMC Berkeley establish, publish and apply reasonable standards for measuring student’s satisfactory academic progress (SAP) in their educational program. The qualitative and quantitative standards used to monitor academic progress must be cumulative and must include all periods of the student’s enrollment. This policy will be enforced at the end of each term (starting Fall 2011).
Definitions: The following definitions apply to terms used in this policy.
Academic Plan: Academic plan is a plan, which if followed, will ensure that the student is able to meet AIMC Berkeley’s satisfactory academic progress standards by a specific point in time. Students who have been placed on an academic plan must meet the modified standards of academic progress outlined in the plan or he/she will be academically dismissed.
Appeal: Appeal is a process by which a student who is not meeting the satisfactory academic progress standards may submit a petition to the Academic Standards Committee for reconsideration to remain in the program. A student may appeal twice under this policy.
Required Grade Averages
At the end of the each academic year (two trimesters) the cumulative grade point average (GPA) will be determined and documented in each student’s official record. Students whose cumulative GPA is at least 2.5 will be considered to be making satisfactory academic progress
Completion Rate
Completion Rate is the PACE at which a student should progress in order to complete the program within maximum timeframe.
How the program PACE (completion rate) is determined: cumulative number of credits successfully completed divided by cumulative number of attempted credits. The required PACE percentage is 63%.
Completion Rate Chart
Academic Warning:Academic warning is assigned by the dean’s office to a student the first time he/she fails to make satisfactory academic progress.
Academic Probation: Academic probation is assigned by the dean’s office to a student who fails to make satisfactory academic progress within one trimester immediately following a term of academic warning and has submitted a letter of appeal that has been approved.
Academic Dismissal: Academic dismissal is a status assigned by the dean’s office to a student who fails to make satisfactory academic progress and who has been previously granted academic probation.
Maximum Timeframe: A period defined by the institution that is maximum length of time (based on attempted credits) permitted to complete the program.
Standards of Satisfactory Academic Progress:
Qualitative component
GPA: Students must maintain a cumulative grade point average of 2.5 or higher.
Completion Rate (PACE) – students must complete 63% of all attempted coursework.
Maximum Time Frame for degree completion is 160% of the program requirements (measured in credit hours attempted).
Earned/Attempted Credits:Earned/Attempted Credits: An earned course grade of I, F, D, and W will be counted as failed attempts for the quantitative SAP component. The qualitative measure is not affected by (‘W’) grades.
Treatment of transfer credits and competency examinations. All credits accepted for transfer and/or competency exams are counted as both attempted and earned for the quantitative SAP component. The qualitative measure is not affected by transfer and/or exam credits.
Consequences of not meeting Satisfactory Academic Progress (SAP):
Academic Warning: Academic warning is assigned by the dean’s office to a student who fails to make satisfactory academic progress and must meet the minimum standards by the end of the next term of enrollment. Students in this status may receive federal student aid for one more term and then must meet the academic standards of progress.
Academic Probation Academic Probation is assigned by the dean’s office to a student who fails to make satisfactory academic progress (cumulative GPA of 2.5 and/or 63% completion rate) within one trimester immediately following a term of an academic warning, and has submitted an appeal to the Academic Standards Committee that has been approved. The student will meet with Academic Dean of the College to outline an academic plan during the probation period. Approval of probation status allows the student to continue in their program and reinstates federal financial aid eligibility for one trimester.
Academic Dismissal ‐ If, after being placed on academic probation, a student fails to meet the SAP standards of a cumulative GPA of 2.5 and/or 63% completion rate and/or fails to meet the requirements of the academic plan, he or she will be placed on Academic Dismissal.
Maximum Time Frame Dismissal ‐ If a student fails to meet the Maximum Time Frame standards; he or she will be placed on Maximum Time Frame Dismissal and will immediately lose financial aid eligibility.
The following will not be considered as successfully completed hours:
“F” – failing grades
“I” – incompletes
“W” – withdrawals
“NC” – no credit (for audited classes)
Probation and Reinstatement Procedures
Qualitative Progress: Students who fail to meet the minimum GPA requirements will be placed on satisfactory academic progress probation for one trimester. During that trimester students must raise their GPA to the stated minimum grade requirements. Students who fail to meet the requirements during this period of probation will no longer be considered as making satisfactory academic progress and will be ineligible for Federal financial aid until such time as the minimum GPA requirements are met.
Quantitative Progress: If a student does not earn the required number of credits at the end of each academic year (2 trimesters) they will not be eligible for new annual loan limits until the appropriate number of units has been earned (see Appeal Procedures). The student must earn the required number of units before loans will be certified for new annual limits.
Appeal Procedures
Appeals may be made based on the following:
- A death in the immediate family.
- Serious injury or illness of a student or a member of the immediate family.
- Special circumstances to be reviewed on a case by case basis. (Students on Academic Dismissal who have not attended college for at least one calendar year may appeal based on change of circumstances.) A student whose appeal is granted will be reinstated and have financial aid awarded on a probationary basis.
Students may appeal the progress policy when extraordinary circumstances result in the lack of progress. All appeals are made to the Financial Aid Committee.
To be considered as making satisfactory academic progress toward the completion of a degree, students must also maintain a specified grade point average and proceed through the program at a pace measured at the end of each academic year leading to completion within a specified time frame.
If a student is found to be ineligible for Federal financial aid because satisfactory academic progress requirements were not met (GPA or credits earned), the student may appeal this decision to the institution’s Appeals Committee. This should be done by in writing, stating the reasons why the minimum requirements were not met and why financial aid should not be terminated. The Appeals Committee will review the appeal determine whether suspending financial aid is justified. The student will be advised in writing of the decision.
Return of Title IV Funds (Federal Stafford Loan Funds)
If a Federal financial aid recipient withdraws from all classes before completing 60% of the payment period (or period of enrollment), AIMC Berkeley will calculate the amount of Title IV aid the student did not earn (federal daily pro-rata calculation). The amount of unearned aid equals the difference between Title IV aid that was disbursed or could have been disbursed for the payment period and the amount of Title IV aid that was earned.
Refunds will be returned to the following sources, in order, up to the net amount disbursed in the program: Unsubsidized FFEL/Direct Loan, Subsidized FFEL/Direct Loan, FFEL/Direct PLUS (Graduate/Parent) Pell Grant and SEOG grant.
For example, if a student receiving $10,000 in federal aid completes 14.7% of the trimester, he/she would have earned that percentage of the approved federal aid ($1470) therefore, 85.3% ($8,530) of the disbursed aid remains ‘unearned” and must be returned to the federal programs. The college would refund 85.3% of tuition charges (i.e. if tuition charges of $3,500, the refund would be $2,985.5) to the appropriate federal program. No tuition refund would be disbursed to the student until Title IV (federal loans/grants) funds are repaid. A student withdrawing after the 60% point has earned 100% of the disbursed federal aid. Any unearned funds disbursed to the student in the federal loan programs would be repaid based on the terms of the borrower’s promissory note.
Federal Direct Loans FAQ
Why did AIMC Berkeley move to the Direct Loan Program?
President Obama recently enacted student loan reform in the Health Care and Education Affordability Reconciliation Act of 2010 (H.R. 4872), requiring all schools to participate in the William D. Ford Federal Direct Loan Program beginning on July 2, 2010. The Family Federal Education Loan Program, which permitted private lenders to originate these loans, is eliminated effective June 30, 2010.
How will this affect my prior student aid year federal loans?
This change will NOT affect any prior federal loans that had a first disbursement prior to 7/1/10. Do pay attention to your mail as the Department of Education has been buying up many of your existing loans that were originally with a private lender.
Does this change impact me?
If you are a new or continuing student borrower who plans to borrow federal loans, this change will impact you. As of 6/9/10 all future Federal Stafford and Grad PLUS loans will be processed through the Direct Loan program. You will be borrowing directly from the government versus a private lender.
Will there be any additional requirements for me to receive my aid from Direct Loans? Will I need to sign a new mater promissory note?
The application process for Direct Loans is the same as previous years. New students must complete our Application for Financial Aid (AFA) as well as the FAFSA.
In addition, all students, even returning student borrowers, will need to complete a new Direct Loan Master Promissory Note. Students may go to: www.studentloans.gov and Sign In under Mange My Student Loans. If you are borrowing from BOTH the Stafford and Grad PLUS programs, you will need to complete a separate MPN for each loan program.
What are the benefits in the Direct Loan program?
- A guaranteed source of funding for students loans
- A lower interest rate on Graduate Plus loans (8.5 % to 7.9%)
- A single point of service for students during repayment
- Additional repayment options for students and interest rate reductions for on time payments
- The Public Service Loan Forgiveness Program
Are there any differences in interest rates and fees between the two programs?
The interest rate for Direct Subsidized and Unsubsidized loans is the same as that of the FFEL program – 6.8%. However, the Direct Grad PLUS loan interest rate is 7.9% compared to the FFEL program which is 8.5%.
Direct Loans also offers an upfront interest rebate of 0.5% on Subsidized/Unsubsidized and 1.5% on the Graduate PLUS.
What happens to the Stafford loans I borrowed in previous years? Will they still be deferred now that AIMC Berkeley is changing its loan process?
Your Stafford loans from previous years will remain in deferment as long as you are enrolled at least half time. You are responsible for notifying your lender if your enrollment status changes.
How will repayment work if I have FFEL and Direct loans?
You will have to make separate payments to each lender/servicer. You can also opt to consolidate with the Direct Loan program if you would like to make only one monthly payment. It is also possible that if your former lender sold your loans to the Department of Education that the same company may be servicing your student loans from both programs. The current servicer of your student loan(s) can be reviewed at www.nslds.ed.gov. You will need your pin number from the FAFSA to access this information.
How can I find out more information about loan consolidation?
Students can go to: http://loanconsolidation.ed.gov/borrower/bbenefit.html for detailed information on the pros and cons of loan consolidation.
What is Public Loan Forgiveness?
There is a new loan forgiveness program for public service employees. Under this program, the amount forgiven is the remaining outstanding balance of principal and accrued interest on an eligible Direct Loan for a borrower who is not in default and who makes 120 monthly payments on the loan after October 1, 2007. The borrower must be employed full-time in a public service job during the same period in which the qualifying payments are made and at the time that the cancellation is granted. Students can go to http://studentaid.ed.gov/PORTALSWebApp/students/english/PSF.jsp for more detailed information about Public Loan Forgiveness.
What are the four standard repayment options?
Standard Repayment: With the standard plan, you will pay a fixed amount each month until your loans are paid in full. Your monthly payments will be at least $50 and you will have up to 10 years to repay your loans.
Extended Repayment: To be eligible for the extended plan, you must have more than $30,000 in Direct Loan debt, but you have 25 years to repay it. Under the extended plan you have two options: for fixed or graduated payments. Fixed payments are the same amount each month you are in repayment, as with the standard plan, while graduated payments start low and increase, every two years, as with the graduated plan below.
Graduated Repayment: With this plan your payments start out low and increase every two years. The length of your repayment period will be up to ten years. If you expect your income to increase steadily over time, this plan may be right for you. Your monthly payment will never be less than the amount of interest that accrues between payments. Although your monthly payment will gradually increase, no single payment under this plan will be more than three times greater than any other payment.
Income Contingent Repayment: This plan gives you the flexibility to meet your Direct Loan obligations without causing undue financial hardship. Each year, your monthly payments will be calculated on the basis of your adjusted gross income (AGI, plus your spouse’s income if you’re married), family size, and the total amount of your Direct Loans. Under the ICR plan you will pay each month the lesser of:
- The amount you would pay if you repaid your loan in 12 years multiplied by an income percentage factor that varies with your annual income, or
- 20% of your monthly discretionary income.
If your payments are not large enough to cover the interest that has accumulated on your loans, the unpaid amount will be capitalized once each year. However, capitalization will not exceed 10 percent of the original amount you owed when you entered repayment. Interest will continue to accumulate but will no longer be capitalized. The maximum repayment period is 25 years. If you haven’t fully repaid your loans after 25 years (time spent in deferment or forbearance does not count) under this plan, the unpaid portion will be discharged. You may, however, have to pay taxes on the amount that is discharged.
What about the new Income-based Repayment Program?
Income-based Repayment (effective July 1, 2009) – Under this plan the required monthly payment will be based on your income during any period when you have a partial financial hardship. Your monthly payment may be adjusted annually. The maximum repayment period under this plan may exceed 10 years. If you meet certain requirements over a specified period of time, you may qualify for cancellation of any outstanding balance of your loans. Detailed information and calculators are available at: http://studentaid.ed.gov/PORTALSWebApp/students/english/IBRPlan.jsp
How can I get more information?
The Department of Education has launched a new website that will serve as a portal for Direct Loan borrowers to manage their Direct Loans and obtain informative material on their student loans. The new web site is www.studentloans.gov. and can be used to complete loan entrance counseling, master promissory notes, view electronic loan correspondence and access to other links related to student loans.
You may also contact the financial aid office with any questions or concerns. The college is Direct Loan ready and your funds will continue to be disbursed to you in a timely manner.
Financial Aid Code of Conduct
The Higher Education Opportunity Act conditions the eligibility of educational institutions to participate in Title IV programs on the development of and compliance with a code of conduct prohibiting conflicts of interest for its financial aid personnel [HEOA § 487(a)(25)]. Acupuncture & Integrative Medicine College, Berkeley’s officers, employees and agents are required to comply with this code of conduct. The following specific provisions bring Acupuncture & Integrative Medicine College, Berkeley into compliance with the federal law [HEOA § 487(e)].
Neither Acupuncture & Integrative Medicine College, Berkeley as an institution nor any individual officer, employee or agent shall enter into any revenue-sharing arrangements with any lender.
No officer or employee of Acupuncture & Integrative Medicine College, Berkeley who is employed in the financial aid office or who otherwise has responsibilities with respect to education loans, or agent who has responsibilities with respect to education loans, or any of their family members, shall solicit or accept any gift from a lender, guarantor, or servicer of education loans. For purposes of this prohibition, the term “gift” means any gratuity, favor, discount, entertainment, hospitality, loan, or other item having a monetary value of more than a de minimus amount.
An officer or employee of Acupuncture & Integrative Medicine College, Berkeley who is employed in the financial aid office or who otherwise has responsibilities with respect to education loans, or an agent who has responsibilities with respect to education loans, shall not accept from any lender or affiliate of any lender any fee, payment, or other financial benefit (including the opportunity to purchase stock) as compensation for any type of consulting arrangement or other contract to provide services to a lender or on behalf of a lender relating to education loans.
Acupuncture & Integrative Medicine College, Berkeley shall not:
a. for any first-time borrower, assign, through award packaging or other methods, the borrower’s loan to a particular lender; or
b. refuse to certify, or delay certification of, any loan based on the borrower’s selection of a particular lender or guaranty agency.
Acupuncture & Integrative Medicine College, Berkeley shall not request or accept from any lender any offer of funds to be used for private education loans, including funds for an opportunity pool loan, to students in exchange for the institution providing concessions or promises regarding providing the lender with:
a. a specified number of loans made, insured, or guaranteed under Title IV;
b. a specified loan volume of such loans; or
c. a preferred lender arrangement for such loans
Acupuncture & Integrative Medicine College, Berkeley shall not request or accept from any lender any assistance with call center staffing or financial aid office staffing.
Any employee who is employed in the financial aid office, or who otherwise has responsibilities with respect to education loans or other student financial aid, and who serves on an advisory board, commission, or group established by a lender, guarantor, or group of lenders or guarantors, shall be prohibited from receiving anything of value from the lender, guarantor, or group of lenders or guarantors, except that the employee may be reimbursed for reasonable expenses incurred in serving on such advisory board, commission, or group
Graduate Aid
Students who are admitted to AIMC Berkeley as graduate students, i.e. have a bachelor’s degree or the equivalent of three years of undergraduate study (90 semester units), are eligible to borrow graduate-level Direct Loans. For two trimesters a student may borrow a combined total of $20,500 from the subsidized ($8,500) and unsubsidized ($12,000) programs. This works out to total loan funds of $30,750 per calendar year/3 trimesters. Direct Subsidized Stafford loans do not accrue interest while a student are taking classes or during the 6-month grace period after ceasing enrollment. Direct Unsubsidized Loan interest accrues from the time the loan is disbursed. For loans first disbursed after 7/1/06 the interest rate is a fixed 6.8% and the government charges a 1% origination fee of the loan amount requested.
Students needing additional assistance may consider the federal credit-based Graduate PLUS loan. This loan has a 4% origination fee and a higher interest rate of 7.9%. Please contact the financial aid office for further details on the eligibility requirements for this program.
Reimbursement to Veterans and Eligible Persons
For information or for resolution of specific payment queries, veterans should contact the Department of Veteran’s Affairs nationwide toll free number at 1-888-442-4551.
Work Study
Federal work-study is based on financial need as determined by the FAFSA. Awards are given first to those with Expected Family Contribution (EFC) $5000 or less (as determined by the FAFSA) and it based on available funding. Jobs include on-campus positions such as clinic reception assistants, library assistants, herb room assistants and peer tutoring. The College also offers limited institutional work-study that is not based on financial need, as available.
Both federal and institutional work-study students are paid an hourly rate for the work performed. Students may work up to 20 hours a week in a variety of positions. Students must be enrolled at least half-time and provide proof of employment eligibility in the US, as stipulated by the INS.
How to Apply for Financial Aid
If you would like to receive financial aid, please follow the checklist below. A printable versions of this checklist is available here: Financial Aid Checklist — 5 Easy Steps
- If you have not already completed the Application for Financial Aid (AFA) as part of the admissions process, please download and complete it and return to the financial aid office.
- Go to the FAFSA (www.fafsa.ed.gov) to submit your federal application (2011-12 for Fall 2011, Winter 2012, or Spring/Summer 2012 terms). Our school federal code is 033274.
- After the financial aid office has received the above information an award letter outlining your assistance and a loan request form will be mailed out. You will need to return a signed copy of the award letter and a completed loan request form to the financial aid office.
- Once the financial aid office has received all paperwork and the student has been at least conditionally accepted federal loans will be originated.
- After accepting your award, please go to www.studentloans.gov and complete an online master promissory note. Your pin number from filing the FAFSA also electronically signs your MPN. Loans can not be disbursed to the college without the prompt signing of a MPN.
- At this same website (www.studentloans.gov) complete the online Entrance Counseling. This is federal requirement and must be completed before funds will be disbursed.
Students must complete their financial aid applications in a timely manner, at least one month before the beginning of a term if the financial aid is needed to pay tuition. Late tuition payment due to failure to make timely application will result in a late fee of $100 being assessed.
Rights & Responsibilities of Financial Aid Recipients
The rights and responsibilities of students receiving aid are provided in detail in the USDE Student Guide (available at www.studentloans.gov). In addition, prior to receiving a first loan disbursement at AIMC Berkeley, all recipients are required to attend a Loan Entrance Interview with the Director of Financial Aid. The Entrance Interview provides information required by federal regulation for all Federal Direct Loan borrowers.
Professional Judgment/Special Circumstances
If a student has special circumstances or a change in circumstances not already reflected on the FAFSA (such as loss of employment, retirement, or loss of untaxed income) he or she can ask the college to review the changed circumstances by submitting the college’s Policy Appeal Form defining the situation and providing actual figures. In addition, a student may request to have his or her Cost of Attendance adjusted due to special or unusual circumstances. Examples include medical or dental or nursing home expenses not covered by insurance, unusually high child care costs, etc. The appropriate documentation of the unusual circumstances and/or expense must be attached to the college’s Policy Appeals Form and submitted to the financial aid office for review and final submission to the Appeals Committee. The student will be notified in writing of the committee’s decision.
Academic Year
An academic year for financial aid purposes is two trimesters. Annual loan and grant awards are paid in two trimesters. For example, a student who begins AIMC Berkeley in the Fall trimester receives eligibility for annual loan and grant maximums for the first and second trimesters, (first academic year). Eligibility is renewed for the third and fourth trimesters, (second academic year.) Students may potentially borrow for five two-trimester academic years while completing the program (on the 10 trimester schedule), or longer, depending on available aid.
Satisfactory Academic Progress
Federal Financial Aid regulations require that AIMC Berkeley establish, publish and apply reasonable standards for measuring student’s satisfactory academic progress (SAP) in their educational program. The qualitative and quantitative standards used to monitor academic progress must be cumulative and must include all periods of the student’s enrollment. This policy will be enforced at the end of each term (starting Fall 2011).
Definitions: The following definitions apply to terms used in this policy.
Academic Plan: Academic plan is a plan, which if followed, will ensure that the student is able to meet AIMC Berkeley’s satisfactory academic progress standards by a specific point in time. Students who have been placed on an academic plan must meet the modified standards of academic progress outlined in the plan or he/she will be academically dismissed.
Appeal: Appeal is a process by which a student who is not meeting the satisfactory academic progress standards may submit a petition to the Academic Standards Committee for reconsideration to remain in the program. A student may appeal twice under this policy.
Required Grade Averages
At the end of the each academic year (two trimesters) the cumulative grade point average (GPA) will be determined and documented in each student’s official record. Students whose cumulative GPA is at least 2.5 will be considered to be making satisfactory academic progress
Completion Rate
Completion Rate is the PACE at which a student should progress in order to complete the program within maximum timeframe.
How the program PACE (completion rate) is determined: cumulative number of credits successfully completed divided by cumulative number of attempted credits. The required PACE percentage is 63%.
Completion Rate Chart
Academic Warning:Academic warning is assigned by the dean’s office to a student the first time he/she fails to make satisfactory academic progress.
Academic Probation: Academic probation is assigned by the dean’s office to a student who fails to make satisfactory academic progress within one trimester immediately following a term of academic warning and has submitted a letter of appeal that has been approved.
Academic Dismissal: Academic dismissal is a status assigned by the dean’s office to a student who fails to make satisfactory academic progress and who has been previously granted academic probation.
Maximum Timeframe: A period defined by the institution that is maximum length of time (based on attempted credits) permitted to complete the program.
Standards of Satisfactory Academic Progress:
Qualitative component
GPA: Students must maintain a cumulative grade point average of 2.5 or higher.
Completion Rate (PACE) – students must complete 63% of all attempted coursework.
Maximum Time Frame for degree completion is 160% of the program requirements (measured in credit hours attempted).
Earned/Attempted Credits:Earned/Attempted Credits: An earned course grade of I, F, D, and W will be counted as failed attempts for the quantitative SAP component. The qualitative measure is not affected by (‘W’) grades.
Treatment of transfer credits and competency examinations. All credits accepted for transfer and/or competency exams are counted as both attempted and earned for the quantitative SAP component. The qualitative measure is not affected by transfer and/or exam credits.
Consequences of not meeting Satisfactory Academic Progress (SAP):
Academic Warning: Academic warning is assigned by the dean’s office to a student who fails to make satisfactory academic progress and must meet the minimum standards by the end of the next term of enrollment. Students in this status may receive federal student aid for one more term and then must meet the academic standards of progress.
Academic Probation Academic Probation is assigned by the dean’s office to a student who fails to make satisfactory academic progress (cumulative GPA of 2.5 and/or 63% completion rate) within one trimester immediately following a term of an academic warning, and has submitted an appeal to the Academic Standards Committee that has been approved. The student will meet with Academic Dean of the College to outline an academic plan during the probation period. Approval of probation status allows the student to continue in their program and reinstates federal financial aid eligibility for one trimester.
Academic Dismissal ‐ If, after being placed on academic probation, a student fails to meet the SAP standards of a cumulative GPA of 2.5 and/or 63% completion rate and/or fails to meet the requirements of the academic plan, he or she will be placed on Academic Dismissal.
Maximum Time Frame Dismissal ‐ If a student fails to meet the Maximum Time Frame standards; he or she will be placed on Maximum Time Frame Dismissal and will immediately lose financial aid eligibility.
The following will not be considered as successfully completed hours:
“F” – failing grades
“I” – incompletes
“W” – withdrawals
“NC” – no credit (for audited classes)
Probation and Reinstatement Procedures
Qualitative Progress: Students who fail to meet the minimum GPA requirements will be placed on satisfactory academic progress probation for one trimester. During that trimester students must raise their GPA to the stated minimum grade requirements. Students who fail to meet the requirements during this period of probation will no longer be considered as making satisfactory academic progress and will be ineligible for Federal financial aid until such time as the minimum GPA requirements are met.
Quantitative Progress: If a student does not earn the required number of credits at the end of each academic year (2 trimesters) they will not be eligible for new annual loan limits until the appropriate number of units has been earned (see Appeal Procedures). The student must earn the required number of units before loans will be certified for new annual limits.
Appeal Procedures
Appeals may be made based on the following:
- A death in the immediate family.
- Serious injury or illness of a student or a member of the immediate family.
- Special circumstances to be reviewed on a case by case basis. (Students on Academic Dismissal who have not attended college for at least one calendar year may appeal based on change of circumstances.) A student whose appeal is granted will be reinstated and have financial aid awarded on a probationary basis.
Students may appeal the progress policy when extraordinary circumstances result in the lack of progress. All appeals are made to the Financial Aid Committee.
To be considered as making satisfactory academic progress toward the completion of a degree, students must also maintain a specified grade point average and proceed through the program at a pace measured at the end of each academic year leading to completion within a specified time frame.
If a student is found to be ineligible for Federal financial aid because satisfactory academic progress requirements were not met (GPA or credits earned), the student may appeal this decision to the institution’s Appeals Committee. This should be done by in writing, stating the reasons why the minimum requirements were not met and why financial aid should not be terminated. The Appeals Committee will review the appeal determine whether suspending financial aid is justified. The student will be advised in writing of the decision.
Return of Title IV Funds (Federal Stafford Loan Funds)
If a Federal financial aid recipient withdraws from all classes before completing 60% of the payment period (or period of enrollment), AIMC Berkeley will calculate the amount of Title IV aid the student did not earn (federal daily pro-rata calculation). The amount of unearned aid equals the difference between Title IV aid that was disbursed or could have been disbursed for the payment period and the amount of Title IV aid that was earned.
Refunds will be returned to the following sources, in order, up to the net amount disbursed in the program: Unsubsidized FFEL/Direct Loan, Subsidized FFEL/Direct Loan, FFEL/Direct PLUS (Graduate/Parent) Pell Grant and SEOG grant.
For example, if a student receiving $10,000 in federal aid completes 14.7% of the trimester, he/she would have earned that percentage of the approved federal aid ($1470) therefore, 85.3% ($8,530) of the disbursed aid remains ‘unearned” and must be returned to the federal programs. The college would refund 85.3% of tuition charges (i.e. if tuition charges of $3,500, the refund would be $2,985.5) to the appropriate federal program. No tuition refund would be disbursed to the student until Title IV (federal loans/grants) funds are repaid. A student withdrawing after the 60% point has earned 100% of the disbursed federal aid. Any unearned funds disbursed to the student in the federal loan programs would be repaid based on the terms of the borrower’s promissory note.
Federal Direct Loans FAQ
Why did AIMC Berkeley move to the Direct Loan Program?
President Obama recently enacted student loan reform in the Health Care and Education Affordability Reconciliation Act of 2010 (H.R. 4872), requiring all schools to participate in the William D. Ford Federal Direct Loan Program beginning on July 2, 2010. The Family Federal Education Loan Program, which permitted private lenders to originate these loans, is eliminated effective June 30, 2010.
How will this affect my prior student aid year federal loans?
This change will NOT affect any prior federal loans that had a first disbursement prior to 7/1/10. Do pay attention to your mail as the Department of Education has been buying up many of your existing loans that were originally with a private lender.
Does this change impact me?
If you are a new or continuing student borrower who plans to borrow federal loans, this change will impact you. As of 6/9/10 all future Federal Stafford and Grad PLUS loans will be processed through the Direct Loan program. You will be borrowing directly from the government versus a private lender.
Will there be any additional requirements for me to receive my aid from Direct Loans? Will I need to sign a new mater promissory note?
The application process for Direct Loans is the same as previous years. New students must complete our Application for Financial Aid (AFA) as well as the FAFSA.
In addition, all students, even returning student borrowers, will need to complete a new Direct Loan Master Promissory Note. Students may go to: www.studentloans.gov and Sign In under Mange My Student Loans. If you are borrowing from BOTH the Stafford and Grad PLUS programs, you will need to complete a separate MPN for each loan program.
What are the benefits in the Direct Loan program?
- A guaranteed source of funding for students loans
- A lower interest rate on Graduate Plus loans (8.5 % to 7.9%)
- A single point of service for students during repayment
- Additional repayment options for students and interest rate reductions for on time payments
- The Public Service Loan Forgiveness Program
Are there any differences in interest rates and fees between the two programs?
The interest rate for Direct Subsidized and Unsubsidized loans is the same as that of the FFEL program – 6.8%. However, the Direct Grad PLUS loan interest rate is 7.9% compared to the FFEL program which is 8.5%.
Direct Loans also offers an upfront interest rebate of 0.5% on Subsidized/Unsubsidized and 1.5% on the Graduate PLUS.
What happens to the Stafford loans I borrowed in previous years? Will they still be deferred now that AIMC Berkeley is changing its loan process?
Your Stafford loans from previous years will remain in deferment as long as you are enrolled at least half time. You are responsible for notifying your lender if your enrollment status changes.
How will repayment work if I have FFEL and Direct loans?
You will have to make separate payments to each lender/servicer. You can also opt to consolidate with the Direct Loan program if you would like to make only one monthly payment. It is also possible that if your former lender sold your loans to the Department of Education that the same company may be servicing your student loans from both programs. The current servicer of your student loan(s) can be reviewed at www.nslds.ed.gov. You will need your pin number from the FAFSA to access this information.
How can I find out more information about loan consolidation?
Students can go to: http://loanconsolidation.ed.gov/borrower/bbenefit.html for detailed information on the pros and cons of loan consolidation.
What is Public Loan Forgiveness?
There is a new loan forgiveness program for public service employees. Under this program, the amount forgiven is the remaining outstanding balance of principal and accrued interest on an eligible Direct Loan for a borrower who is not in default and who makes 120 monthly payments on the loan after October 1, 2007. The borrower must be employed full-time in a public service job during the same period in which the qualifying payments are made and at the time that the cancellation is granted. Students can go to http://studentaid.ed.gov/PORTALSWebApp/students/english/PSF.jsp for more detailed information about Public Loan Forgiveness.
What are the four standard repayment options?
Standard Repayment: With the standard plan, you will pay a fixed amount each month until your loans are paid in full. Your monthly payments will be at least $50 and you will have up to 10 years to repay your loans.
Extended Repayment: To be eligible for the extended plan, you must have more than $30,000 in Direct Loan debt, but you have 25 years to repay it. Under the extended plan you have two options: for fixed or graduated payments. Fixed payments are the same amount each month you are in repayment, as with the standard plan, while graduated payments start low and increase, every two years, as with the graduated plan below.
Graduated Repayment: With this plan your payments start out low and increase every two years. The length of your repayment period will be up to ten years. If you expect your income to increase steadily over time, this plan may be right for you. Your monthly payment will never be less than the amount of interest that accrues between payments. Although your monthly payment will gradually increase, no single payment under this plan will be more than three times greater than any other payment.
Income Contingent Repayment: This plan gives you the flexibility to meet your Direct Loan obligations without causing undue financial hardship. Each year, your monthly payments will be calculated on the basis of your adjusted gross income (AGI, plus your spouse’s income if you’re married), family size, and the total amount of your Direct Loans. Under the ICR plan you will pay each month the lesser of:
- The amount you would pay if you repaid your loan in 12 years multiplied by an income percentage factor that varies with your annual income, or
- 20% of your monthly discretionary income.
If your payments are not large enough to cover the interest that has accumulated on your loans, the unpaid amount will be capitalized once each year. However, capitalization will not exceed 10 percent of the original amount you owed when you entered repayment. Interest will continue to accumulate but will no longer be capitalized. The maximum repayment period is 25 years. If you haven’t fully repaid your loans after 25 years (time spent in deferment or forbearance does not count) under this plan, the unpaid portion will be discharged. You may, however, have to pay taxes on the amount that is discharged.
What about the new Income-based Repayment Program?
Income-based Repayment (effective July 1, 2009) – Under this plan the required monthly payment will be based on your income during any period when you have a partial financial hardship. Your monthly payment may be adjusted annually. The maximum repayment period under this plan may exceed 10 years. If you meet certain requirements over a specified period of time, you may qualify for cancellation of any outstanding balance of your loans. Detailed information and calculators are available at: http://studentaid.ed.gov/PORTALSWebApp/students/english/IBRPlan.jsp
How can I get more information?
The Department of Education has launched a new website that will serve as a portal for Direct Loan borrowers to manage their Direct Loans and obtain informative material on their student loans. The new web site is www.studentloans.gov. and can be used to complete loan entrance counseling, master promissory notes, view electronic loan correspondence and access to other links related to student loans.
You may also contact the financial aid office with any questions or concerns. The college is Direct Loan ready and your funds will continue to be disbursed to you in a timely manner.
Financial Aid Code of Conduct
The Higher Education Opportunity Act conditions the eligibility of educational institutions to participate in Title IV programs on the development of and compliance with a code of conduct prohibiting conflicts of interest for its financial aid personnel [HEOA § 487(a)(25)]. Acupuncture & Integrative Medicine College, Berkeley’s officers, employees and agents are required to comply with this code of conduct. The following specific provisions bring Acupuncture & Integrative Medicine College, Berkeley into compliance with the federal law [HEOA § 487(e)].
Neither Acupuncture & Integrative Medicine College, Berkeley as an institution nor any individual officer, employee or agent shall enter into any revenue-sharing arrangements with any lender.
No officer or employee of Acupuncture & Integrative Medicine College, Berkeley who is employed in the financial aid office or who otherwise has responsibilities with respect to education loans, or agent who has responsibilities with respect to education loans, or any of their family members, shall solicit or accept any gift from a lender, guarantor, or servicer of education loans. For purposes of this prohibition, the term “gift” means any gratuity, favor, discount, entertainment, hospitality, loan, or other item having a monetary value of more than a de minimus amount.
An officer or employee of Acupuncture & Integrative Medicine College, Berkeley who is employed in the financial aid office or who otherwise has responsibilities with respect to education loans, or an agent who has responsibilities with respect to education loans, shall not accept from any lender or affiliate of any lender any fee, payment, or other financial benefit (including the opportunity to purchase stock) as compensation for any type of consulting arrangement or other contract to provide services to a lender or on behalf of a lender relating to education loans.
Acupuncture & Integrative Medicine College, Berkeley shall not:
a. for any first-time borrower, assign, through award packaging or other methods, the borrower’s loan to a particular lender; or
b. refuse to certify, or delay certification of, any loan based on the borrower’s selection of a particular lender or guaranty agency.
Acupuncture & Integrative Medicine College, Berkeley shall not request or accept from any lender any offer of funds to be used for private education loans, including funds for an opportunity pool loan, to students in exchange for the institution providing concessions or promises regarding providing the lender with:
a. a specified number of loans made, insured, or guaranteed under Title IV;
b. a specified loan volume of such loans; or
c. a preferred lender arrangement for such loans
Acupuncture & Integrative Medicine College, Berkeley shall not request or accept from any lender any assistance with call center staffing or financial aid office staffing.
Any employee who is employed in the financial aid office, or who otherwise has responsibilities with respect to education loans or other student financial aid, and who serves on an advisory board, commission, or group established by a lender, guarantor, or group of lenders or guarantors, shall be prohibited from receiving anything of value from the lender, guarantor, or group of lenders or guarantors, except that the employee may be reimbursed for reasonable expenses incurred in serving on such advisory board, commission, or group
Federal Financial Aid regulations require that AIMC Berkeley establish, publish and apply reasonable standards for measuring student’s satisfactory academic progress (SAP) in their educational program. The qualitative and quantitative standards used to monitor academic progress must be cumulative and must include all periods of the student’s enrollment. This policy will be enforced at the end of each term (starting Fall 2011).
Definitions: The following definitions apply to terms used in this policy.
Academic Plan: Academic plan is a plan, which if followed, will ensure that the student is able to meet AIMC Berkeley’s satisfactory academic progress standards by a specific point in time. Students who have been placed on an academic plan must meet the modified standards of academic progress outlined in the plan or he/she will be academically dismissed.
Appeal: Appeal is a process by which a student who is not meeting the satisfactory academic progress standards may submit a petition to the Academic Standards Committee for reconsideration to remain in the program. A student may appeal twice under this policy.
Required Grade Averages
At the end of the each academic year (two trimesters) the cumulative grade point average (GPA) will be determined and documented in each student’s official record. Students whose cumulative GPA is at least 2.5 will be considered to be making satisfactory academic progress
Completion Rate
Completion Rate is the PACE at which a student should progress in order to complete the program within maximum timeframe.
How the program PACE (completion rate) is determined: cumulative number of credits successfully completed divided by cumulative number of attempted credits. The required PACE percentage is 63%.
Completion Rate Chart
Academic Warning:Academic warning is assigned by the dean’s office to a student the first time he/she fails to make satisfactory academic progress.
Academic Probation: Academic probation is assigned by the dean’s office to a student who fails to make satisfactory academic progress within one trimester immediately following a term of academic warning and has submitted a letter of appeal that has been approved.
Academic Dismissal: Academic dismissal is a status assigned by the dean’s office to a student who fails to make satisfactory academic progress and who has been previously granted academic probation.
Maximum Timeframe: A period defined by the institution that is maximum length of time (based on attempted credits) permitted to complete the program.
Standards of Satisfactory Academic Progress:
Qualitative component
GPA: Students must maintain a cumulative grade point average of 2.5 or higher.
Completion Rate (PACE) – students must complete 63% of all attempted coursework.
Maximum Time Frame for degree completion is 160% of the program requirements (measured in credit hours attempted).
Earned/Attempted Credits:Earned/Attempted Credits: An earned course grade of I, F, D, and W will be counted as failed attempts for the quantitative SAP component. The qualitative measure is not affected by (‘W’) grades.
Treatment of transfer credits and competency examinations. All credits accepted for transfer and/or competency exams are counted as both attempted and earned for the quantitative SAP component. The qualitative measure is not affected by transfer and/or exam credits.
Consequences of not meeting Satisfactory Academic Progress (SAP):
Academic Warning: Academic warning is assigned by the dean’s office to a student who fails to make satisfactory academic progress and must meet the minimum standards by the end of the next term of enrollment. Students in this status may receive federal student aid for one more term and then must meet the academic standards of progress.
Academic Probation Academic Probation is assigned by the dean’s office to a student who fails to make satisfactory academic progress (cumulative GPA of 2.5 and/or 63% completion rate) within one trimester immediately following a term of an academic warning, and has submitted an appeal to the Academic Standards Committee that has been approved. The student will meet with Academic Dean of the College to outline an academic plan during the probation period. Approval of probation status allows the student to continue in their program and reinstates federal financial aid eligibility for one trimester.
Academic Dismissal ‐ If, after being placed on academic probation, a student fails to meet the SAP standards of a cumulative GPA of 2.5 and/or 63% completion rate and/or fails to meet the requirements of the academic plan, he or she will be placed on Academic Dismissal.
Maximum Time Frame Dismissal ‐ If a student fails to meet the Maximum Time Frame standards; he or she will be placed on Maximum Time Frame Dismissal and will immediately lose financial aid eligibility.
The following will not be considered as successfully completed hours:
“F” – failing grades
“I” – incompletes
“W” – withdrawals
“NC” – no credit (for audited classes)
Probation and Reinstatement Procedures
Qualitative Progress: Students who fail to meet the minimum GPA requirements will be placed on satisfactory academic progress probation for one trimester. During that trimester students must raise their GPA to the stated minimum grade requirements. Students who fail to meet the requirements during this period of probation will no longer be considered as making satisfactory academic progress and will be ineligible for Federal financial aid until such time as the minimum GPA requirements are met.
Quantitative Progress: If a student does not earn the required number of credits at the end of each academic year (2 trimesters) they will not be eligible for new annual loan limits until the appropriate number of units has been earned (see Appeal Procedures). The student must earn the required number of units before loans will be certified for new annual limits.
Appeal Procedures
Appeals may be made based on the following:
- A death in the immediate family.
- Serious injury or illness of a student or a member of the immediate family.
- Special circumstances to be reviewed on a case by case basis. (Students on Academic Dismissal who have not attended college for at least one calendar year may appeal based on change of circumstances.) A student whose appeal is granted will be reinstated and have financial aid awarded on a probationary basis.
Students may appeal the progress policy when extraordinary circumstances result in the lack of progress. All appeals are made to the Financial Aid Committee.
To be considered as making satisfactory academic progress toward the completion of a degree, students must also maintain a specified grade point average and proceed through the program at a pace measured at the end of each academic year leading to completion within a specified time frame.
If a student is found to be ineligible for Federal financial aid because satisfactory academic progress requirements were not met (GPA or credits earned), the student may appeal this decision to the institution’s Appeals Committee. This should be done by in writing, stating the reasons why the minimum requirements were not met and why financial aid should not be terminated. The Appeals Committee will review the appeal determine whether suspending financial aid is justified. The student will be advised in writing of the decision.
Return of Title IV Funds (Federal Stafford Loan Funds)
If a Federal financial aid recipient withdraws from all classes before completing 60% of the payment period (or period of enrollment), AIMC Berkeley will calculate the amount of Title IV aid the student did not earn (federal daily pro-rata calculation). The amount of unearned aid equals the difference between Title IV aid that was disbursed or could have been disbursed for the payment period and the amount of Title IV aid that was earned.
Refunds will be returned to the following sources, in order, up to the net amount disbursed in the program: Unsubsidized FFEL/Direct Loan, Subsidized FFEL/Direct Loan, FFEL/Direct PLUS (Graduate/Parent) Pell Grant and SEOG grant.
For example, if a student receiving $10,000 in federal aid completes 14.7% of the trimester, he/she would have earned that percentage of the approved federal aid ($1470) therefore, 85.3% ($8,530) of the disbursed aid remains ‘unearned” and must be returned to the federal programs. The college would refund 85.3% of tuition charges (i.e. if tuition charges of $3,500, the refund would be $2,985.5) to the appropriate federal program. No tuition refund would be disbursed to the student until Title IV (federal loans/grants) funds are repaid. A student withdrawing after the 60% point has earned 100% of the disbursed federal aid. Any unearned funds disbursed to the student in the federal loan programs would be repaid based on the terms of the borrower’s promissory note.
Federal Direct Loans FAQ
Why did AIMC Berkeley move to the Direct Loan Program?
President Obama recently enacted student loan reform in the Health Care and Education Affordability Reconciliation Act of 2010 (H.R. 4872), requiring all schools to participate in the William D. Ford Federal Direct Loan Program beginning on July 2, 2010. The Family Federal Education Loan Program, which permitted private lenders to originate these loans, is eliminated effective June 30, 2010.
How will this affect my prior student aid year federal loans?
This change will NOT affect any prior federal loans that had a first disbursement prior to 7/1/10. Do pay attention to your mail as the Department of Education has been buying up many of your existing loans that were originally with a private lender.
Does this change impact me?
If you are a new or continuing student borrower who plans to borrow federal loans, this change will impact you. As of 6/9/10 all future Federal Stafford and Grad PLUS loans will be processed through the Direct Loan program. You will be borrowing directly from the government versus a private lender.
Will there be any additional requirements for me to receive my aid from Direct Loans? Will I need to sign a new mater promissory note?
The application process for Direct Loans is the same as previous years. New students must complete our Application for Financial Aid (AFA) as well as the FAFSA.
In addition, all students, even returning student borrowers, will need to complete a new Direct Loan Master Promissory Note. Students may go to: www.studentloans.gov and Sign In under Mange My Student Loans. If you are borrowing from BOTH the Stafford and Grad PLUS programs, you will need to complete a separate MPN for each loan program.
What are the benefits in the Direct Loan program?
- A guaranteed source of funding for students loans
- A lower interest rate on Graduate Plus loans (8.5 % to 7.9%)
- A single point of service for students during repayment
- Additional repayment options for students and interest rate reductions for on time payments
- The Public Service Loan Forgiveness Program
Are there any differences in interest rates and fees between the two programs?
The interest rate for Direct Subsidized and Unsubsidized loans is the same as that of the FFEL program – 6.8%. However, the Direct Grad PLUS loan interest rate is 7.9% compared to the FFEL program which is 8.5%.
Direct Loans also offers an upfront interest rebate of 0.5% on Subsidized/Unsubsidized and 1.5% on the Graduate PLUS.
What happens to the Stafford loans I borrowed in previous years? Will they still be deferred now that AIMC Berkeley is changing its loan process?
Your Stafford loans from previous years will remain in deferment as long as you are enrolled at least half time. You are responsible for notifying your lender if your enrollment status changes.
How will repayment work if I have FFEL and Direct loans?
You will have to make separate payments to each lender/servicer. You can also opt to consolidate with the Direct Loan program if you would like to make only one monthly payment. It is also possible that if your former lender sold your loans to the Department of Education that the same company may be servicing your student loans from both programs. The current servicer of your student loan(s) can be reviewed at www.nslds.ed.gov. You will need your pin number from the FAFSA to access this information.
How can I find out more information about loan consolidation?
Students can go to: http://loanconsolidation.ed.gov/borrower/bbenefit.html for detailed information on the pros and cons of loan consolidation.
What is Public Loan Forgiveness?
There is a new loan forgiveness program for public service employees. Under this program, the amount forgiven is the remaining outstanding balance of principal and accrued interest on an eligible Direct Loan for a borrower who is not in default and who makes 120 monthly payments on the loan after October 1, 2007. The borrower must be employed full-time in a public service job during the same period in which the qualifying payments are made and at the time that the cancellation is granted. Students can go to http://studentaid.ed.gov/PORTALSWebApp/students/english/PSF.jsp for more detailed information about Public Loan Forgiveness.
What are the four standard repayment options?
Standard Repayment: With the standard plan, you will pay a fixed amount each month until your loans are paid in full. Your monthly payments will be at least $50 and you will have up to 10 years to repay your loans.
Extended Repayment: To be eligible for the extended plan, you must have more than $30,000 in Direct Loan debt, but you have 25 years to repay it. Under the extended plan you have two options: for fixed or graduated payments. Fixed payments are the same amount each month you are in repayment, as with the standard plan, while graduated payments start low and increase, every two years, as with the graduated plan below.
Graduated Repayment: With this plan your payments start out low and increase every two years. The length of your repayment period will be up to ten years. If you expect your income to increase steadily over time, this plan may be right for you. Your monthly payment will never be less than the amount of interest that accrues between payments. Although your monthly payment will gradually increase, no single payment under this plan will be more than three times greater than any other payment.
Income Contingent Repayment: This plan gives you the flexibility to meet your Direct Loan obligations without causing undue financial hardship. Each year, your monthly payments will be calculated on the basis of your adjusted gross income (AGI, plus your spouse’s income if you’re married), family size, and the total amount of your Direct Loans. Under the ICR plan you will pay each month the lesser of:
- The amount you would pay if you repaid your loan in 12 years multiplied by an income percentage factor that varies with your annual income, or
- 20% of your monthly discretionary income.
If your payments are not large enough to cover the interest that has accumulated on your loans, the unpaid amount will be capitalized once each year. However, capitalization will not exceed 10 percent of the original amount you owed when you entered repayment. Interest will continue to accumulate but will no longer be capitalized. The maximum repayment period is 25 years. If you haven’t fully repaid your loans after 25 years (time spent in deferment or forbearance does not count) under this plan, the unpaid portion will be discharged. You may, however, have to pay taxes on the amount that is discharged.
What about the new Income-based Repayment Program?
Income-based Repayment (effective July 1, 2009) – Under this plan the required monthly payment will be based on your income during any period when you have a partial financial hardship. Your monthly payment may be adjusted annually. The maximum repayment period under this plan may exceed 10 years. If you meet certain requirements over a specified period of time, you may qualify for cancellation of any outstanding balance of your loans. Detailed information and calculators are available at: http://studentaid.ed.gov/PORTALSWebApp/students/english/IBRPlan.jsp
How can I get more information?
The Department of Education has launched a new website that will serve as a portal for Direct Loan borrowers to manage their Direct Loans and obtain informative material on their student loans. The new web site is www.studentloans.gov. and can be used to complete loan entrance counseling, master promissory notes, view electronic loan correspondence and access to other links related to student loans.
You may also contact the financial aid office with any questions or concerns. The college is Direct Loan ready and your funds will continue to be disbursed to you in a timely manner.
Financial Aid Code of Conduct
The Higher Education Opportunity Act conditions the eligibility of educational institutions to participate in Title IV programs on the development of and compliance with a code of conduct prohibiting conflicts of interest for its financial aid personnel [HEOA § 487(a)(25)]. Acupuncture & Integrative Medicine College, Berkeley’s officers, employees and agents are required to comply with this code of conduct. The following specific provisions bring Acupuncture & Integrative Medicine College, Berkeley into compliance with the federal law [HEOA § 487(e)].
Neither Acupuncture & Integrative Medicine College, Berkeley as an institution nor any individual officer, employee or agent shall enter into any revenue-sharing arrangements with any lender.
No officer or employee of Acupuncture & Integrative Medicine College, Berkeley who is employed in the financial aid office or who otherwise has responsibilities with respect to education loans, or agent who has responsibilities with respect to education loans, or any of their family members, shall solicit or accept any gift from a lender, guarantor, or servicer of education loans. For purposes of this prohibition, the term “gift” means any gratuity, favor, discount, entertainment, hospitality, loan, or other item having a monetary value of more than a de minimus amount.
An officer or employee of Acupuncture & Integrative Medicine College, Berkeley who is employed in the financial aid office or who otherwise has responsibilities with respect to education loans, or an agent who has responsibilities with respect to education loans, shall not accept from any lender or affiliate of any lender any fee, payment, or other financial benefit (including the opportunity to purchase stock) as compensation for any type of consulting arrangement or other contract to provide services to a lender or on behalf of a lender relating to education loans.
Acupuncture & Integrative Medicine College, Berkeley shall not:
a. for any first-time borrower, assign, through award packaging or other methods, the borrower’s loan to a particular lender; or
b. refuse to certify, or delay certification of, any loan based on the borrower’s selection of a particular lender or guaranty agency.
Acupuncture & Integrative Medicine College, Berkeley shall not request or accept from any lender any offer of funds to be used for private education loans, including funds for an opportunity pool loan, to students in exchange for the institution providing concessions or promises regarding providing the lender with:
a. a specified number of loans made, insured, or guaranteed under Title IV;
b. a specified loan volume of such loans; or
c. a preferred lender arrangement for such loans
Acupuncture & Integrative Medicine College, Berkeley shall not request or accept from any lender any assistance with call center staffing or financial aid office staffing.
Any employee who is employed in the financial aid office, or who otherwise has responsibilities with respect to education loans or other student financial aid, and who serves on an advisory board, commission, or group established by a lender, guarantor, or group of lenders or guarantors, shall be prohibited from receiving anything of value from the lender, guarantor, or group of lenders or guarantors, except that the employee may be reimbursed for reasonable expenses incurred in serving on such advisory board, commission, or group
The Higher Education Opportunity Act conditions the eligibility of educational institutions to participate in Title IV programs on the development of and compliance with a code of conduct prohibiting conflicts of interest for its financial aid personnel [HEOA § 487(a)(25)]. Acupuncture & Integrative Medicine College, Berkeley’s officers, employees and agents are required to comply with this code of conduct. The following specific provisions bring Acupuncture & Integrative Medicine College, Berkeley into compliance with the federal law [HEOA § 487(e)].
Neither Acupuncture & Integrative Medicine College, Berkeley as an institution nor any individual officer, employee or agent shall enter into any revenue-sharing arrangements with any lender.
No officer or employee of Acupuncture & Integrative Medicine College, Berkeley who is employed in the financial aid office or who otherwise has responsibilities with respect to education loans, or agent who has responsibilities with respect to education loans, or any of their family members, shall solicit or accept any gift from a lender, guarantor, or servicer of education loans. For purposes of this prohibition, the term “gift” means any gratuity, favor, discount, entertainment, hospitality, loan, or other item having a monetary value of more than a de minimus amount.
An officer or employee of Acupuncture & Integrative Medicine College, Berkeley who is employed in the financial aid office or who otherwise has responsibilities with respect to education loans, or an agent who has responsibilities with respect to education loans, shall not accept from any lender or affiliate of any lender any fee, payment, or other financial benefit (including the opportunity to purchase stock) as compensation for any type of consulting arrangement or other contract to provide services to a lender or on behalf of a lender relating to education loans.
Acupuncture & Integrative Medicine College, Berkeley shall not:
a. for any first-time borrower, assign, through award packaging or other methods, the borrower’s loan to a particular lender; or
b. refuse to certify, or delay certification of, any loan based on the borrower’s selection of a particular lender or guaranty agency.
Acupuncture & Integrative Medicine College, Berkeley shall not request or accept from any lender any offer of funds to be used for private education loans, including funds for an opportunity pool loan, to students in exchange for the institution providing concessions or promises regarding providing the lender with:
a. a specified number of loans made, insured, or guaranteed under Title IV;
b. a specified loan volume of such loans; or
c. a preferred lender arrangement for such loans
Acupuncture & Integrative Medicine College, Berkeley shall not request or accept from any lender any assistance with call center staffing or financial aid office staffing.
Any employee who is employed in the financial aid office, or who otherwise has responsibilities with respect to education loans or other student financial aid, and who serves on an advisory board, commission, or group established by a lender, guarantor, or group of lenders or guarantors, shall be prohibited from receiving anything of value from the lender, guarantor, or group of lenders or guarantors, except that the employee may be reimbursed for reasonable expenses incurred in serving on such advisory board, commission, or group
.
Click here to view the AIMC Berkeley Federal Work-Study Manual
Per Federal Work-Study Guidelines all work study positions are posted each term. Positions may be filled. Please email Work-Study Coordinator Yuji Goto for a list of currently available positions.
Work-Study Forms:
AIMC Berkeley Work-Study Positions
Job Title: Admissions Assistant
Employer: AIMC Berkeley
Department: Administration
Job Purpose/Description: Assist the Admissions Director with the admissions process, including the recruitment of prospective students for the MSOM program at AIMC Berkeley. Also works on special projects.
Duties and Responsibilities:
- Contact prospective students to promote the MSOM program at AIMC Berkeley
- Answer prospective student FAQs
- Prepare admissions files and packets
- Schedule and occasionally lead campus tours
- Prepare and distribute informational materials and flyers
- Additional duties as assigned
Requirements: Preference will be given to third-year students. Experience in sales, marketing, and/or customer service a plus. Must be friendly, well-organized, possess attention to detail, sales aptitude, and capacity to work with minimal supervision. MS Office (Excel, Word, etc.) experience a must.
Pay Rate: Starts at $9/hour
Hours/Schedule: Eight to twenty hours per week Monday – Friday between the hours of 9am – 6pm (allotted in two-, four-, or eight-hour shifts) for 10 – 14 weeks or more as needed. Job may close at any time
Supervisor: Jon Diskin
Application & Hiring Process: Complete the Work-Study Job Application and return it to the Work-Study Coordinator in the Administrative Office. Work-Study Application deadlines vary by term. Applications are reviewed upon receipt.
Job Title: Administrative Assistant
Employer: AIMC Berkeley
Department: Administration
Job Purpose/Description: Job responsibilities include administrative tasks such as answering phones, filing, copying, preparing documents, and entering data. Also works on special projects.
Duties and Responsibilities:
- Additional duties as assigned
Requirements: Must be friendly, well-organized, possess attention to detail, sales aptitude, and capacity to work with minimal supervision. MS Office (Excel, Word, etc.) experience a must.
Pay Rate: $9/hour
Hours/Schedule: Eight to twenty hours per week Monday – Friday between the hours of 9am – 6pm (allotted in two-, four-, or eight-hour shifts) for 10 – 14 weeks or more as needed. Job may close at any time
Supervisor: Yuji Goto
Application & Hiring Process: Complete the Work-Study Job Application and return it to the Work-Study Coordinator in the Administrative Office. Work-Study Application deadlines vary by term. Applications are reviewed upon receipt.
Job Title: Classroom Assistant
Employer: AIMC Berkeley
Department: Academic
Job Purpose/Description: A Classroom Assistant may either provide non-instructional or instructional help, including, but not limited to assisting instructors with teaching the practical aspects of the class, including proctoring examinations, refining notes, and correcting assignments.
Duties & Responsibilities:
- Help the instructor prepare for lessons
- Assist in acupuncture point location and demonstration of skills
- Prepare teaching aids
- Help monitor the progress of the students
Qualifications: Must have passed the class with a B+ average or better (in most instances) and receive instructor recommendation.
Pay Rate/Assignments: $10/hour
Classroom Assisting will be assigned according to student demand, tutor availability, and seniority. Employment as a Classroom Assistant does not guarantee a minimum number of work hours.
Hours/Schedule: 1 hour per week (within the hours of the scheduled class time) for 12 weeks, beginning the second week of class.
Supervisor: Valerie Razutis
Job Title: Classroom Tutor
Employer: AIMC Berkeley
Department: Academic
Job Purpose/Description: Provide individual and small group tutoring to students outside of class to review class material, prepare for exams, discuss the text(s), predict test questions, formulate ideas for papers and assignments, and/or work on solutions to problems.
Duties & Responsibilities:
- Meet with the instructor at the start of the term to establish a tutoring schedule for the term.
- Be punctual for all scheduled tutoring sessions
- Complete and hand in all required paperwork
Qualifications: Must have passed the class with a B+ average or better, be a Level 1 or above clinic intern, and receive instructor recommendation.
Pay Rate/ Assignments: $12/hour
Tutoring will be assigned according to student demand, tutor availability, and seniority. Employment as a Tutor does not guarantee a minimum number of work hours.
Hours/Schedule: 1 set hour per week for 12 weeks, beginning the second week of class.
Supervisor: Valerie Razutis
Notes: A student may work more than one position with prior approval.
Application & Hiring Process: Complete the Work-Study Job Application and return it to the Work-Study Coordinator in the Administrative Office. Work-Study Application deadlines vary by term. Applications are reviewed upon receipt.
Job Title: Clinic Front Desk Receptionist
Employer: AIMC Berkeley
Department: Community Service (Herb Room)
Job Purpose/Description: Provide high quality customer assistance to patients, students, and visitors to the clinic and college. Typical duties include answering phones, filing, pulling charts, making appointments, and processing payments for appointments.
Duties & Responsibilities:
- Answering phones and booking appointments
- Pulling and filing charts
- Processing payments for clinic appointment and herbal formulas
- Performing front desk opening and closing operations as needed
Qualifications: Must maintain a 2.70 (B-) GPA or higher. Academic standing will be assessed on a term-by-term basis.
Pay Rate/ Assignments: $9/hour
Hours are assigned by demand and are dependent upon clinic business. Employment as a Clinic Front Desk Receptionist does not guarantee a minimum number of work hours.
Hours/Schedule: 2 to 12 hours per week (allotted in 2- to 4-hour shifts) for 14 – 16 weeks (within the operating hours of the AIMC Berkeley clinic) , beginning the first week of class.
Supervisor: Tim Randall
Notes: New students without academic standing may apply for this position. The AIMC Berkeley clinic does not typically close for breaks; students hired as clinic front desk receptionists will need to make prior arrangements with the Clinic Manager to cover their shifts during all breaks.
Application & Hiring Process: Complete the Work-Study Job Application and return it to the Work-Study Coordinator in the Administrative Office. Work-Study Application deadlines vary by term. Applications are reviewed upon receipt.
Job Title: Elementary School Reading Coach
Employer: AIMC Berkeley
In participation with: Washington Elementary School, Berkeley
Department: Community Service / Quick Reads
Job Purpose/Description: Work as a reading skills coach for an elementary school child as part of Washington Elementary School’s Quick Reads reading and literacy program.
Duties & Responsibilities:
- Provide one-on-one tutoring to improve a student’s reading skills, comprehension, and fluency
- Be punctual for all scheduled tutoring sessions
- Complete and hand in all required paperwork
Requirements: Must complete an hour-long training session with Washington Elementary School prior to tutoring.
Pay Rate: $15/hour
Hours: 30 minutes – 4 hours per week for 10 – 14 weeks, beginning the first week of class
Supervisor: Yuji Goto
Job Title: Herb Room Assistant
Employer: AIMC Berkeley
Department: Community Service (Herb Room)
Job Purpose/Description: Preference will be given to students with experience in natural foods retail and/or herbal consultation.
Duties & Responsibilities:
- Inventory, stock, and prepare prescriptions for herbal forms and formulas
- Inventory, stock, and sell clinic products and needles
- Receive and document shipments from vendors
- Contact patients and respond to inquiries about prescriptions and herb use
- Educate students and the public about the preparation and use of herbal formulas
- Educate students about and assist with implementing herb room procedures
Qualifications: Must be a Level 2 or above clinic intern and receive approval from the Herb Room Manager.
Pay Rate/Assignments: $10/hour
Herb Room Assistants will be assigned according demand, availability, and seniority. Employment as an Herb Room Assistant does not guarantee a minimum number of work hours.
Hours/Schedule: Two to twelve hours per week between the hours of 9am – 9pm (allotted in four-hour shifts) for 15-16 weeks, beginning the first week of class.
Supervisor: Tracy Richardson
Application & Hiring Process: Complete the Work-Study Job Application and return it to the Work-Study Coordinator in the Administrative Office. Work-Study Application deadlines vary by term. Applications are reviewed upon receipt.
Job Title: Library Assistant
Employer: AIMC Berkeley
Department: Library / Learning Resource Center
Job Purpose/Description: Provide circulation assistance, reference support, technical assistance, and customer service, and general assistance for library users.
Duties & Responsibilities:
- Copy cataloging using the integrated library system
- Manage serials and read shelves
- Enter data; process and organize physical books and materials
- Maintain all forms and handouts
- Perform other ongoing activities and projects as requested by the librarian
Qualifications: Library Assistants must be committed to providing a consistently welcoming presence for all library users and possess thorough and specific communication skills. Student should have the ability to learn how to utilize new systems and software (proficiency is MS office suite preferred) and to be able to prioritize tasks and follow projects through to completion according to specified time frames. Library Assistants must be able to accomplish detailed technical work with a high level of integrity and work well both independently and as part of a team. Library Assistants must honor confidentiality. This position requires basic technical troubleshooting on computers and copier equipment. Individual staff members are coupled with projects and activities that best suit their experience and skills.
Pay Rate/Assignments: $9/hour
Hours/Schedule: 2 – 12 hours per week (within the operating hours of AIMC Berkeley) for 16 weeks.
Supervisor: Yuji Goto
Notes: A student may work more than one position with prior approval. Students may audit the remainder of the class in which they are assisting for free.
Application & Hiring Process: Complete the Work-Study Job Application and return it to the Work-Study Coordinator in the Administrative Office. Work-Study Application deadlines vary by term. Applications are reviewed upon receipt.
Job Title: Security Attendant
Employer: AIMC Berkeley
Department: Administration
Job Purpose/Description: The purpose of the Security Attendant is to assure the building is secure at all times and direct any issues to appropriate supervisor.
Duties and Responsibilities:
- Monitor the front desk and front entrance
- Admit evening students back into the building following class recess
- Secure the building before leaving
Requirements: Must be trustworthy and able to work with minimal supervision.
Pay Rate: $9/hour
Hours/Schedule: To be determined
Supervisor: Yuji Goto
Notes: A student may work more than one position with prior approval. Students cannot work any hours that may be in conflict with their school schedule.
Application & Hiring Process: Complete the Work-Study Job Application and return it to the Work-Study Coordinator in the Administrative Office. Work-Study Application deadlines vary by term. Applications are reviewed upon receipt.
AIMC Berkeley Work-Study Coordinator
For more information contact Yuji Goto at ygoto@aimc.edu or 510.666.8248 x120. To apply for a position, please download and complete the Federal Work-Study Job Application. Return the application and your FWS Award Letter (received in the Financial Aid office), and return it to the Administration Office or email it to ygoto@aimc.edu. Work-study application deadlines vary by trimester. Applications are viewed upon receipt. Please include a resume when applying for a FWS position.
Note: Students applying for work-study positions must receive financial aid (except where noted). If you do not receive financial aid, but would like to be considered for work-study, please visit www.fafsa.ed.gov and complete the 2011-12 Free Application for Federal Student Aid.
Federal work-study is based on financial need as determined by the Free Application for Federal Student Aid (FAFSA). Work-study positions include library assistants, herb room assistants, peer tutors, classroom assistants, mentors, and more. As available, AIMC Berkeley also offers limited institutional work study that is not based on financial need. Both federal and institutional work study-students must be enrolled at least half-time at AIMC Berkeley and be able to provide proof of employment eligibility in the US, as stipulated by the INS. Work-study students are paid an hourly rate based on the type of work performed and may work up to 20 hours per week.
Acupuncture & Integrative Medicine College, Berkeley is a 501(c)(3) non profit organization committed to the development of caring, proficient, and successful practitioners who serve communities and the Oriental medicine profession worldwide by treating illness and promoting health and wellness.
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