The US Department of Education left thousands of students wondering about their future on February 27, 2019, when it cut an entire college system’s federal funding. The decision was in response to signs that Dream Center Education Holdings had not successfully reorganized after filing for receivership. March of 2019 22 Art Institutions and college campuses closed for not successfully converting to nonprofits.
The students of the closed schools were told to check the online fact sheet to find out about loan cancellations, options and obtaining academic records. The resource should also provide students with information on how to have the loans discharged because the schools closed and answer common questions related to the closures. The Academy of Art University is offering two agreements for education to students that were affected by the Art in state college closings.
The Academy of Art University offers a Portfolio Grant that offers a maximum of $3,000 in a limited number to help aspiring designers and artists cover Fall and Summer terms. Applicants can also apply for federal student aid.
A teach out agreement was added to the education agreements already in place to allow former students of Ai to finish obtaining degrees at the Academy of Art University. The new agreement allows former students of Ai that have more than 75% of credits completed transfer into the Academy for the intended degree. A portfolio of supporting work and official transcripts are required.
Scholarship opportunities are being offered by the Academy of Art University to help students make the transition. There is a scholarship of $7,000 offered in both agreements. There is an enrollment requirement of at least six units for students to be eligible for a maximum of seven $1,00 scholarships each semester for a total of seven semesters. Students can benefit from several programs whether attending on campus or online.