American University Student Loans
Chartered by an act of Congress in 1892, American University gives about 6,000 undergraduate students an educational opportunity like none other. With its location in Washington, D.C., American offers students access to other premier institutions, such as The George Washington University and Georgetown University, in addition to providing programs with countless federal organizations and agencies. No school provides the amount of political access as American U does: six presidents have been trustees of the university, and countless prominent figures have either spoken or taught at American; from Madeline Albright to the Dalai Llama, and from JFK to Bobby Seale, American University provides its students with an experience like none other.
Since American’s located smack in the middle of D.C., the cost of pretty much everything around campus will be way higher than just about anywhere in the rest of the country. This means it’s easy for routine, everyday expenses to really sneak up on you and your budget, so it’s important you’re extra-careful about how and where you spend your money. Exploring D.C. is an important part of any student’s education at American, but you don’t want the nation’s capital to suck your personal coffers dry. To summarize what you should do: spending money on subway fare and on food at Guapo’s or somewhere in the District every now and then is okay. Spending money on subway fare and dinner off-campus four days a week is not. Know when to spend, when to save, and how much is too much. Your wallet will thank you.
Applicants for aid packages are required to fill out two forms for aid, both the Free Application for Federal Student Aid and American’s own institutional aid form. The FAFSA is relatively straightforward, but we don’t know much about their aid form – we hope it’s not too bad. If you have questions pertaining to their proprietary application, give the American University financial aid office a call, and they’ll get you straightened out. Once you submit your forms, you’ll receive your aid package with the next tuition bill that arrives, and with any luck, you’ll be part of the 76% of AU students who receive financial aid.
American university packages are divided 80-20 in favor of scholarships and grants over loans and work-study jobs. That split is great for students, as the AU financial aid office is doing their best to keep student borrowing to a minimum (a praiseworthy effort). In fact, less than half of AU students wind up taking out federal student loans, which is a testament to the strength of AU’s ‘free money’ award initiative. There are some students who don’t get quite enough funding, though, and for this 15% of the student body; private student loans are a necessity to cover the cost of attending American. Taking out a private student loan doesn’t have to be all that bad, though, especially if you take your time to compare your options and find the best loan for you.
To find the student loan that works best for your budget, check out our student loan comparison tool to search for and compare loans from a variety of lenders. Once you’ve found the right student loan for you, you can directly apply for it and cover your costs to attend American.
American University financial aid packages are quite generous when it comes to awarding scholarships to deserving students. The ratio of scholarships and loans is almost 80 to 20. This also includes work-study jobs. The AU financial aid program is trying to keep student borrowing to a minimum and award as many scholarships as it can. This effort is part of the AU’s ‘free money’ award initiative.
Pay for American University*
|Total Avg. Cost||$49,903|
|Room & Board||$6,894|
|Financial Aid Information|
|Students Receiving Fin Aid||80%|
|Typical Grant Amounts|
|Avg. Other Stud. Loans||$19,447|
|%Receiving Other Loans||11%|
|4400 Massachusetts Ave NW
Washington, DC 20016-8001
|Financial Aid Office URL|
|Admissions Office URL|
*Data source is the Integrated Postsecondary Education Data System (IPEDS) the data collection program for the National Center for Education Statistics