About - Financial Aid

FEDERAL TITLE IV FUNDS

Eligibility
In order to determine eligibility for Title IV students must comply with the SAP Policy included in this Catalog. Students must be enrolled at least half-time to receive assistance from the Federal Student Loan Programs.

Students must certify they have not defaulted on a previous Title IV loan, have not exceeded the annual and/or aggregate loan limits and that they do not have property subject to judgment lien for a debt owed to the United States
and are not liable for a Grant or Federal Perkins Loan overpayment.

Eligibility is subject to the student maintaining Satisfactory Academic Progress in their program of study. Pell awards are prorated based on attendance. The Institute does not provide Campus-based aid programs.

The Institute works with the Title IV Federal Student Aid Programs, funding determinations are made directly through those agencies.

Federal Title IV eligibility is as follows:
Student has verifiable Social Security Number Be a citizen or national of the United States; or provide evidence from the U.S. Immigration and Naturalization Service that he or she- is a permanent resident of the united states; or is in the United States for other than a temporary purpose with the intention of becoming a citizen or permanent resident be a citizen of the Federated States of Micronesia, Republic of the Marshall Islands, or the Republic of Palau is eligible to receive funds under the FSEOG, and Federal Pell Grant programs.

    • All male students age 18 and older (born after 1/1/1960) must complete Selective Service Registration
    • Student has no previous Title IV student loan default.
    • Student has not exceeded annual or aggregate loan limits to date.
    • Students with a state or federal drug conviction must meet the following requirements to be eligible for student aid conviction for possession or sale of illegal drugs. A student must resolve any drug conviction as outlined in 34 CRF 668.32: A federal or state drug conviction can disqualify a student for FSA funds. The student self-certifies in applying for aid that he/she is eligible; the Institute will only confirm if receive conflicting information. A conviction that was reversed, set aside, or removed from the student’s record, received when the student was a juvenile, unless she/he was tried as an adult are not considered . All other convictions for sale (includes convictions for conspiring to sell drugs) and/or possession is subject to the following:
Possession of illegal drugs Sale of illegal drug
1st Offense 1 year from date of conviction 2 year from date of conviction
2nd Offense 2 year from date of conviction Indefinite period
3+ Offense Indefinite period

If both offenses apply, the student will be ineligible for the longer period

  • A student regains eligibility the day after the period of ineligibility ends or when he/she successfully completes a qualified drug rehabilitation program.
    • Further drug conviction will make him/her ineligible again. A qualified drug rehabilitation program must include at least two unannounced drug tests and must satisfy at least one of the following requirements:
    • Be qualified to receive funds directly or indirectly from a federal, state, or local government program
    • Be qualified to receive payment directly or indirectly from a federally or state-licensed insurance company
    • Be administered or recognized by federal, state or local government agency or court
    • Be administered or recognized by federally, or state-licensed hospital, health clinic, or medical doctor

 

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PELL Grants
A grant is an award of federal financial aid which does not require repayment by the recipient. The Pell Grant is an entitlement program and the recipient will receive the grant provided qualification is met. The amount of the award is based on the U.S. Department of Education’s determination of the student’s need.

Applying for a Pell Grant: The necessary forms to apply for a Pell Grant are available from the financial aid office at the institution, or online at www.fafsa.gov. The FAFSA (Federal Application for Financial Student Aid) form must be completed by the student and returned to the financial office or the student may complete the FAFSA online. The forms must be completed accurately and submitted timely. Students are responsible for checking the status of the application for processing. Each student will be assigned a PIN (Personal Identification Number) number for federal financial aid by the U.S. Department of Education.

Re-applying for A Pell Grant: Federal financial aid does not automatically continue from one award year to the next. Student must re-apply every year if additional financial is needed. There are very specific deadlines that must be met in order to qualify. Students should visit the website above or contact the financial aid office for these dates. The award year for Federal Title IV programs is July 1 – June 30

Direct Loans
Government loans can be an integral part of a complete student aid package. The loans are made by the government to the student by the U.S. Department of Education. Some federal loans will only be given to those students who demonstrate a financial need. There are different kinds of federal student loans, but one thing most of them have in common is that borrowers must maintain at least half time student status to remain eligible. If for some reason a student’s course load falls under half of a full-time status, the student will be required to begin repaying the money after the grace period has expired. Student must repay the loans borrowed regardless of whether the student completes the program, receives a job or likes the program.

A student must complete the FASFA to prove financial need for qualification for government direct loans. Direct loans are either subsidized or unsubsidized. Subsidized loans mean the federal government pays the interest while you’re in college, and for six months after a student’s last date of full-time attendance. For unsubsidized loans, the borrower becomes liable for the interest immediately upon taking out the loan. Interest payments can be made in school, or the borrower may choose to defer the interest payments until graduation or the last day of attendance and begin paying off the principal as well as the interest. Direct loans are not made by the college; rather, the money is borrowed directly from the U.S. Department of Education.

Parents of dependent undergraduate students may take out loans to help their children get an education. These are called PLUS Loans, and the borrower must have good credit. PLUS Loans can be used to
cover the difference between the cost of a child’s college, and the total of all other financial aid they receive. Dependent students whose parents are denied a PLUS loan based on credit, or independent students, are eligible for additional unsubsidized Stafford Loan.

Loan Default and Loan Deferment: All student loans must be repaid timely. Access to additional grants and loans will be denied until the loan default status is removed. Contact the school if you have questions, or need assistance and guidance on avoiding default. Keep the school informed, at all times, of address and contact information as well as the lender, the U.S. Department of Education. Failure to receive notification will not be an acceptable reason if the loan defaults (is not paid). The School, and the Department of Education, will guide students who may be struggling to make payments.

Student loans are eligible for deferment when the borrower is enrolled in school as a full-time student. There are other types of deferment for borrowers. Contact the financial aid office for more information. As with the Pell Grant Program, students will need to complete a FAFSA to determine eligibility.

Loan Repayment: Students who receive Direct Loans must repay their loans even if the student fails to complete the program, becomes dissatisfied with the program or fails to secure employment upon graduation.

Loan Counseling: The U.S. Department of Education requires that any student receiving a Direct Loan must receive loan counseling prior to exiting the School for any reason. The School counsels each student regarding loan indebtedness and gives each student an entrance test to make sure the student understands the obligation, the amount borrowed and the student’s rights and responsibilities regarding repayment. The student will again be counseled at the time of withdrawal or graduation regarding repayment amounts, refunds due (in the case of withdrawal) and estimated payment schedules and monthly amounts due. An exit test is given at that time. If the student cannot be reached, this information will be mailed to the student via certified mail.

Method of Payment – Federal Loans, Pell Grants and Cash
Payment of Pell Grants and Student Loans are transferred electronically directly to the School. The student’s account is credited for each payment, and a receipt is generated for the student and School records. Disbursements are usually made in at least two equal payments, depending upon the program in which the student is enrolled.

Students who elect not to participate in Federal programs, or are ineligible, are required to pay the tuition in full on the first day of class, or make payment arrangements with the Financial Aid office. Students are responsible to make payments timely and, may be dismissed from the program if the scheduled payment is more than 30 days in arrears.

All students, regardless of the type of aid received or payment plans are expected to pay the registration fee at the time of enrollment. The registration fee is non-refundable unless the applicant cancels enrollment in writing within three (3) days after completing the enrollment agreement or contract. The School has limited seats available in some of the programs and the registration fee paid and all appropriate paperwork must be complete for a student to commence class. Students who do not pay the deposit at the time of enrollment are at risk to have their enrollment canceled. Please contact the School in the event this payment has not been made by New Student Orientation. The administration may elect to set up alternate payment arrangements for students with financial need. A student’s failure to meet financial obligations to the School may result in dismissal from the School.

Verification for Financial Aid Students
Students may be selected for verification by the U.S. Department of Education or those with conflicting information in their records will be required to submit supporting documentation. In most cases, the required documentation consists of the following and, any conflicting information in the student’s file must be resolved before any financial aid may be disbursed, regardless of the student’s verification status.

School’s Verification Policy
Individual Student Information Records (ISIR) selected for verification are verified using the Department of Education Worksheet(s) for dependent and independent students.

Deadline for students to submit documentation – Students must submit required documentation to the school’s financial aid office before any disbursements of Title IV funds requested but no later than 30 days after starting school. The only exceptions will be in the cases of any delays that are outside the control of the student, in the school’s opinion, in which case the school will extend the deadline to up to an additional 30 days.

Consequences for failure to meet deadline for submitting documentation – A student that fails to meet the school’s deadline for required documentation as defined above will be given the option to continue in school as a private, paying student or withdraw from the school. The student will be responsible for any tuition charges earned and future tuition charges if they remain in school. It the student drops from the school, the student will be responsible for tuition charges up to the date that the school is aware that the student is terminating the school.

Method of notifying student of award changes due to verification process – If a student’s award changes due to the verification process, the student will be contacted if they are currently attending school to meet with the Financial Aid office to resolve any award changes prior to the school disbursing any funds. If the student has not started classes, the student will be contacted by the FAO (Financial Aid Office) to arrange for the student to either meet personally with the FAO (Financial Aid Office) or to provide the necessary information to complete the verification process and to resubmit the application, if necessary.

Required correction procedures for students – Any corrections to the application due to the verification process must include:

  • Copy of corrected documents, if applicable
  • Clarification of any incorrect information
  • Initials on ISIR of changes if new ISIR is not needed

Students will be advised on:

  • Documents that are required for verification
  • Deadlines required to submit documentation
  • Consequences of missing required deadlines

Verification exclusions – Certain applicants may be eligible for exclusion to the verification process. These exclusions will be limited to those listed in the Verification Guide only.

Items to be verified:

  • Household size
  • Number enrolled in college
  • Adjusted Gross Income
  • U.S. Tax paid
  • Certain untaxed income and benefits