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Financial Aid

Southwest Acupuncture College provides a financial aid program that consists of student financial aid counseling, a federal loan program, several small scholarships, and several sources of alternative loans.

Federal Loan Program

Through Title IV of the Federal Higher Education Act, Southwest Acupuncture College participates in the Federal Family Education Loan (FFEL) program, and, through it, offers subsidized and unsubsidized Federal Stafford loans.

A subsidized loan is awarded on the basis of financial need. If a student qualifies for a subsidized loan, the federal government pays interest on the loan until the student begins repayment and during authorized periods of deferment thereafter.

An unsubsidized loan is not awarded on the basis of need. Students awarded unsubsidized loans are charged interest (variable, not to exceed 8.25%) from the time the loan is disbursed until it is paid in full. A student can choose to pay the interest while in school or allow it to accumulate. If the interest is allowed to accumulate, it will be capitalized-that is, the interest will be added to the principle amount of the loan and will increase the amount owed.

Most students are eligible to borrow the graduate level amount of $30,750 per year made up of a combination of subsidized and unsubsidized loan amounts. The loan is disbursed in three equal installments, each at the beginning of the three terms of the academic year.

If you want an estimate of your repayment schedule, go to www.nmeaf.org (interactive loan calculator) on the web. The program will calculate your monthly repayment schedule when you insert the amount borrowed, length of repayment, and the interest rate charged.

For more information on the FFEL program, read "The Student Guide" published for free by the U.S. Department of Education.

Scholarships

Southwest Acupuncture College has four small scholarships available at each campus. These scholarships are awarded to students who have demonstrated outstanding promise as a practitioner, or high levels of scholarship and academic achievement. There is no application, as all students are considered. These annual awards range from about $250 to $500.

Other Scholarships and Grants

There are private corporations and foundations that offer scholarships and grants to students. Most public libraries will have information on scholarships and grants from the private sector. Occasionally the college receives applications for scholarships from private foundations and makes these available to students. In addition, students can search for private scholarships at www.fastweb.com.

Veteran’s Benefits

Southwest Acupuncture College is approved for Veteran's benefits at all three campuses. Contact your local VA office or our school for application forms if you are eligible and have been accepted as a student at this college.

Alternative Financial Aid Loans

Alternative student loans are private sources of financial aid. They can be obtained in addition to the Federal Stafford loan administered by the college. Alternative loans are available for students who may need to borrow more money to meet their educational needs that exceed what is available from government loans.

Southwest Acupuncture College has researched some possibilities for additional loans and found three lenders, among many, offering loans to students with reasonable eligibility requirements, terms, and payback options.

Though the college will provide information on alternative loans, it is the responsibility of the student to contact a lender and carry out their own alternative loan transaction with a lender of their choice.

Southwest Acupuncture College will provide, upon request, information on the following alternative loan programs, or visit them on line:

Payment Plans

The college has a payment plan program for those students who cannot pay their tuition at the time of registration. Payment plans are made with a monthly late fee charge of 1.25% of the unpaid balance (15% per year). Balances must be paid in full each semester. Students may make arrangements for a payment plan with the Bookkeeping Office.

Click here for information on how to obtain a Stafford Loan.

For further information about financial aid at Southwest Acupuncture College, call the Financial Aid Office at 505-888-8898 or send an e-mail to: financialaid@acupuncturecollege.edu

You may also call the U.S. Department of Education at 1-800-433-3243.