Southwest Acupuncture College (SWAC) provides a financial aid program that consists of student financial aid counseling, a federal loan program, and several small scholarships.

Federal financial aid is processed independently at SWAC following US Department of Education guidelines. Our Federal Financial Aid Director is available to assist you with any questions you may have and guide you through the loan application process, from filling out the FAFSA to counseling on repayment. Appointments are accepted, but not required students are encouraged to stop by the office, call or email.

Financial aid for both campuses (Santa Fe and Boulder) is handled at the Santa Fe campus. There is a liaison person at the Boulder Campus to receive paperwork and route it to the Financial Aid office. Students should contact the Director or Financial Aid at the Santa Fe campus with any questions. Our office communicates with students via E-mail and phone calls. 

Federal Loan Program

Through Title IV of the Federal Higher Education Act, Southwest Acupuncture College participates in the William D. Ford Direct Loan (DL) program, and, through it, offers unsubsidized Federal Direct loans and Graduate Plus Federal Direct loans only as of July 1, 2012.
Borrowing is a necessity for many students, and the Financial Aid Office encourages and supports you in borrowing wisely.

  •     Borrow only the amount you absolutely need.
  •     If uncertain about future expenses, borrow only what you need now. You can apply for additional eligible funds if and when they are needed.
  •     Keep track each year of how much you have borrowed and what your monthly loan payments will be to avoid surprises when you graduate.
  •     Remember, loans must be repaid.

An unsubsidized loan is not awarded on the basis of need. Students awarded unsubsidized loans are charged an origination fee of 1.057% (effective on or after October 1, 2022 and before October 1, 2021) taken out prior to funds being disbursed and a 5.28% interest rate (effective on or after July 1, 2021 until June 30, 2022) from the time the loan is disbursed until it is paid in full. Interest rates are fixed for the life of the loan and can change for future loans each July 1st of each year.

A Graduate Plus (GP) loan is a credit-based loan. The maximum GP Loan amount you can borrow is your cost of attendance (determined by the school) minus any other financial assistance you will receive. Student's eligible for the Direct Graduate Plus Loan is charged an origination fee of 4.228% (effective on or after October 1, 2020 and before October 1, 2022) taken out prior to funds being disbursed and an interest rate of 6.28% (effective on or after July 1, 2021 until June 30, 2022) from the time the loan is disbursed until it is paid in full. Interest rates are fixed for the life of the loan and can change for future loans each July 1st of each year. The repayment period for a Direct PLUS Loan begins at the time the PLUS loan is fully disbursed, and the first payment is due within 60 days after the final disbursement. However, you may defer repayment while you are enrolled at least half-time. If your Direct PLUS Loan was first disbursed on or after July 1, 2008, you may also defer repayment for an additional six months after you cease to be enrolled at least half-time.

Student Loans:

Maximum aggregate loan limit is $138,500 outstanding principle balance (opb) including all undergraduate and Graduate/professional level loans.

A student can choose to pay the interest while in school or allow it to accumulate. When allowing the interest to accumulate, it will be capitalized, adding the interest to the principle amount of the loan and will increase the amount owed.

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

Grace Period:

Click on the link below to find out 6 Little-Known facts about Student Loan Grace Periods...

Federal Pell Grants

Due to the degree level of our program students are not eligible for Federal Pell grants. Also a student who has earned a baccalaureate degree or a first professional degree cannot receive a Pell Grant.


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 $1,500.

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. (see links provided).

Veteran's Benefits

Southwest Acupuncture College is approved for Veteran's benefits at both 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 Direct 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.

Though the college will accept alternative loans, it is the responsibility of the student to research and contact a lender and carry out their own alternative loan transaction with a lender of their choice. Keep in mind that the interest rate and terms will be different. You will want to make sure to review them. You will also need to notify the financial aid office if you apply for one.

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.

Example:  A student has a $6,000 bill due for the Spring Semester.  The student will need to make a total of 4 payments of $1,547.17, which includes the late fee charge of $188.66.  The first payment would be due by the first day of class in January and then the next payments would be due on:  February 15th, March 15th and April 15th.

How to Apply for Financial Aid

Once you are a student financial aid it is processed every two terms.

Anytime you can start the financial aid process by: To start log onto to create your FSA ID if you do not already have one. Then complete the FAFSA application. (Contact the FA office to confirm what Award Year should be completed based on when you plan to start.) You will be asked for our school code G26220 in the school section of the FAFSA. This code is valid for both campus locations: Santa Fe and Boulder (although it will only show the Santa Fe address). The financial aid office will contact you during the term prior to your next loan period. 

Once the Financial Office has received all required forms and online steps outlined in the packet your financial aid can be processed and you will receive an Award Letter via email.

Financial Aid Code of Conduct

The Financial Aid Office at Southwest Acupuncture College strives to provide you with the best customer service, timely notification, and personal assistance while still meeting necessary federal regulatory requirements. We follow the code of conduct set forth by the National Association of Student Financial Aid Administrators.

National Association of Student Financial Aid Administrators (NASFAA) Code of Conduct

An institutional financial aid professional is expected to always maintain exemplary standards of professional conduct in all aspects of carrying out his or her responsibilities, specifically including all dealings with any entities involved in any manner in student financial aid, regardless of whether such entities are involved in a government sponsored, subsidized, or regulated activity. In doing so, a financial aid professional should:

  •     Refrain from taking any action for his or her personal benefit.
  •     Refrain from taking any action he or she believes is contrary to law, regulation, or the best interests of the students and parents he or she serves.
  •     Ensure that the information he or she provides is accurate, unbiased, and does not reflect any preference arising from actual or potential personal gain.
  •     Be objective in making decisions and advising his or her institution regarding relationships with any entity involved in any aspect of student financial aid.
  •     Refrain from soliciting or accepting anything of other than nominal value from any entity (other than an institution of higher education or a governmental entity such as the U.S. Department of Education) involved in the making, holding, consolidating or processing of any student loans, including anything of value (including  reimbursement of expenses) for serving on an advisory body or as part of a training activity of or sponsored by any such entity.​
  •     Disclose to his or her institution, in such manner as his or her institution may prescribe, any involvement with or interest in any entity involved in any aspect of  student financial aid.
  •     Disclose to his or her institution, in such manner as his or her institution may prescribe, any involvement with or interest in any entity involved in any aspect of student financial aid.


For further information or questions about financial aid at Southwest Acupuncture College, please contact the financial aid office:
Email our Financial Aid Director, Angela Anaya, or call her at (505) 438-8884 x1020.You may also call the U.S. Department of Education at 800.433.3243.

Financial Aid Links

General Financial Aid Information
A comprehensive collection of information about grants, loans, work-study, and tax credits for education and how to apply for them, offered by the U.S. Department of Education.
This guide is a free resource that offers scholarships and financial aid information for all women pursuing higher education and includes specific content for students in traditionally underrepresented fields like STEM and finance as well as often underserved groups like single mothers and veterans.

Scholarships and Grants

FastWeb's free scholarship database includes more than 500,000 private sector scholarships, fellowships, grants, and student loans; also provides expert advice and how-tos on admissions, financial aid, loan counseling and more.

College Has nearly 20,000 scholarships in its searchable and filterable database. Free with no ads or registration required.

College Collection Lists free scholarship information updated every month (includes Scholarship of the Month, regional, and specialized scholarships); links to other financial aid web sites.

The American Association of University Women Educational Foundation offers graduate fellowships, grants, and awards for women.

Trudy McAlister Foundation Provides basic support scholarships for students who have completed at least one full academic year of their professional training and who, in the opinion of their faculty, advisors and the advisors of the Fund, show unusual promise in the practice of this medicine.

Resources for Veterans
An extensive resource page for college students who are either veterans or current military personnel. It covers everything that military students need to know while attending college, both in-person and online.

Federal Student Financial Aid
Lists other links to information regarding federal student financial aid such as the Student Guide in Spanish and English, the Free Application for Federal Student Aid (FAFSA), financial aid publications,loan deferment options, etc.