• Financial Aid Home
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  • What is E-Signature?
  • What is a Master Promissory Note?
  • How will the funds be disbursed?
  • Steps in Applying for a Federal Direct Loan?
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• Direct PLUS Loan Program
  • Parent Eligibility Requirements for a Direct PLUS Loan
  • Additional Requirements to receive a Direct PLUS Loan
  • Applying for a PLUS Loan and the Master Promissory Note (MPN)
  • Credit Check & Endorser Alternative
  • Loan Limits, Interest Rates, and Loan Charges
  • How a Loan is Disbursed (paid out)
  • Repayment Information
• Entrance & Exit Counseling
  • Entrance Counseling
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• Avoiding Student Loan Pitfalls
• Scholarships
  • FastWeb
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• Smart Guide to Private Loans
• Other Helpful Fin Aid Websites
• Printable Fin Aid Forms

1. In order to apply for student financial aid, students must submit the Free Application for Federal Student Aid (FAFSA). Students are encouraged to complete the FAFSA on the web at www.fafsa.ed.gov. The ACM Student Financial Aid Office has FAFSA on the Web Worksheets (FOTW) to assist students in completing this on-line application. The worksheets are also available in high school guidance counselor offices’. Students wishing to use a paper FAFSA must call 1-800-4FEDAID to request one.  A PDF version of the paper FAFSA can be viewed/printed at www.FederalStudentAid.ed.gov.  The completed form can then be mailed to the address provided on the form. The FAFSA School code for ACM is 002057.

   Students will need a PIN (personal identification number) to complete and sign the FAFSA on the Web.  The PIN serves as the student signature for all educationally related electronic documents.  To apply for a PIN, students should visit the following website: www.pin.ed.gov. Parents who are providing information about themselves on the FAFSA will also need to apply for a PIN in order to electronically sign the FAFSA.

2. Students must also complete the electronic ACM Financial Aid Application.

3. Students who are selected for the Verification process by the Federal Government will be notified by the ACM Student Financial Aid Office and will also need to submit the following documents to the Office: 
   
   
1. Copies of student’s signed federal tax returns
2. Copies of parents’ signed federal tax returns, if parental information was required on the FAFSA
3. Verification Worksheet – available in the office or on line at www.allegany.edu/finaid/addforms.shtml
4. Final high school grade transcript or copy of GED
5. Other documents as requested by the Student Financial Aid Counselors to complete the Verification requirements.

A letter explaining the award decision and giving information about the aid offered is sent to each applicant. Students can also view their application status and award status using the College's website service called Student Web Services.

Your Student Financial Aid file must be complete before August 1 to ensure proper processing of awards in time to charge books in the ACM Bookstore against financial aid awards.  Students who do not have complete files before August 1 may be obligated to pay for books with funds other than financial aid.  Files completed after August 1 will be awarded in the order in which they became complete.  This includes requests for Student Loans.

A student must apply for financial aid each academic year. However, aid usually continues at the same level each year, unless a student's resources or his/her parents' expected contribution changes. All students receiving aid automatically get information on how to apply for renewal awards. Other students should request applications as early as possible.

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Satisfactory Progress for Financial Aid

Students must be making satisfactory academic progress in order to receive financial aid. A copy of this policy can be viewed on our website or may be requested by emailing the Financial Aid Office at financialaid@allegany.edu.

Financial Aid Policies are subject to change in accordance with federal and state regulations.

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Allegany College of Maryland Student Financial Aid Non-Discriminatory Statement

The Student Financial Aid Office of Allegany College of Maryland offers free financial aid counseling services to all persons who request such help. All students attending the College are awarded all of the student financial aid for which they are eligible. Students have the right to cancel/decline some or all of any student financial aid award. ACM’s Student Financial Aid Office does not discriminate on the basis of curriculum, race, color, creed, national or ethnic origin, gender, religion, disability, age, veteran status, or citizenship status (except in those circumstances permitted or mandated by Federal Law) when awarding or disbursing student financial assistance.

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Eligible Students

Students who are classified as "degree-seeking" or "certificate-seeking" are eligible for student financial aid. However, "non-degree" students, such as those classified as Early College or Transient, are not eligible for student financial assistance. NOTE: Early College students do receive a 50 percent tuition discount. See Admission and Registration for more information.

In addition, students must be a high school graduate in order to receive financial aid. Students receiving the "Certificate of Attendance" from high school are not considered high school graduates.

Audited Courses

Audited courses are not counted for financial aid purposes and cannot be paid for with financial aid funds.

Letter of Recognition

Students who plan to seek ONLY a Letter of Recognition are not eligible for federal or state Financial Aid.

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Financial Aid Office - 301.784.5213