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Financial aid is any grant, scholarship, loan or money given in assistance to help fund one’s college or career training education. It can be given on the federal, state, local or private level.

Whether you’re a high school student about to enroll in career training at èÖ×ÓÊÓƵ for the first time or returning to school for career training in a new field or profession, you should apply for federal student aid. Most èÖ×ÓÊÓƵ Tech campuses offer federal financial aid, and some campuses offer veterans education benefits, except where noted. At this time, èÖ×ÓÊÓƵ Tech does not offer veterans education benefits for the EEST and HVAC program at the Moorestown NJ campus. èÖ×ÓÊÓƵ Tech also does not currently offer federal financial aid for the Welding and Fabrication Technology with Pipe program at the èÖ×ÓÊÓƵ RI campus¹. èÖ×ÓÊÓƵ Tech’s new Houston, TX campus does not offer federal financial aid or Veterans benefits at this time².

Types of Financial Aid

Financing your education is possible through a variety of financial assistance programs/options:

Loans

Federal Student Loans

• Allows students and their parents to borrow money to pay for school expenses such as tuition, fees, room and board and books through loan programs supported by the federal government.
• Some might have low interest rates and offer attractive repayment terms, benefits and options, but these rates can vary.
• Generally, repayment of a federal loan does not begin until after the student completes their education.

There are two types of Federal Direct Student and Stafford Loans: subsidized and unsubsidized.

Direct Subsidized Loans – Students with financial need may obtain direct subsidized loans. These loans DO NOT charge interest while you are in school at least half-time or during grace periods and deferment periods.

Direct Unsubsidized Loans – Does NOT require you to demonstrate financial need and begins accumulating interest as soon as they are granted.

PLUS Loans

• Direct PLUS Loans - Can be applied for by parents of dependent students to help cover the cost of their child's tuition expenses.
• Direct Consolidation Loans – Allows you to combine multiple federal student loans into one loan, to lower your total monthly payment and simplify the process.

Private Student Loan - A loan not handled by the government. Rather, it is a non-federal loan issued by a lender such as a bank or credit union.

Grants

• Do not need to be paid back
• Available to students attending a four-year college, community college, or career school.

Types of Grants

Federal Pell Grant

• Must be an undergraduate student who does not have a Bachelor's or a professional degree.
• Does not have to be repaid.

Federal Supplemental Educational Opportunity Grant (FSEOG)

• Given to help low-income undergraduate students finance the cost of their education.
• A FAFSA must be filled out in order to receive a FSEOG.
• Is a campus-based grant, which means it is administered by a school’s financial aid department.
• The amount of financial aid you may receive depends upon the amount of funds available at the school you’re attending (which is determined by the U.S. Department of Education’s Federal Student Aid office).

Other Types of Aid

Title IV Funding

(Available to Qualified Applicants)

Title IV Funding is federal financial aid, including Stafford, PLUS loans and Pell and Supplemental Educational Opportunity Grants intended to help cover the balance of school costs after any cash payments. The loans, designed for students and parents, feature special interest rates and can be repaid over a maximum of 10 years. The grants, which do not have to be repaid, vary depending on financial need (the Supplemental Educational Opportunity Grant is for students who demonstrate exceptional need).

Private Funding

Private funding can be used to supplement your Title IV financial aid. For more information about the private funding available, contact a campus near you.

Scholarships and State Grants

Scholarships are awards that do not have to be paid back.

Types of Scholarships

Did you know scholarships are often an untapped resource of financial aid? Each èÖ×ÓÊÓƵ campus awards different scholarships based on a number of factors. Some include:

• Merit-based: Given to students based on academic, athletic or other performance measurements.
• Need-based: Based on the student and family's financial record. Many require applicants to fill out a FAFSA to qualify if the scholarship is a federal award.
• Career-specific: Usually awarded by a school based on a student’s program of study.
• College-specific: Offered by the school specifically.

It’s best to contact your local èÖ×ÓÊÓƵ school to receive more information about scholarships.

¹ The èÖ×ÓÊÓƵ, RI campus has applied to the US Department of Education for approval to participate in federal student aid programs for the Welding and Fabrication Technology with Pipe program. We are unable to provide the timing of the Department’s decision and therefore we are not able to guarantee access to federal student aid at this time. However, the Dental Assisting, Electrical, HVAC, Medical Assistant, Practical Nursing programs at the èÖ×ÓÊÓƵ, RI campus do offer financial aid for those who qualify.

² èÖ×ÓÊÓƵ Tech’s new Houston, TX campus does not offer federal financial aid or Veterans benefits at this time.