What Is Financial Aid?
Investing in your education is an investment in your future. As with any investment, you must make an initial commitment in order to reap the benefits. While the thought of paying for your education can be overwhelming, remember that it is possible – don’t assume it is unaffordable.
It’s important to consider costs when looking at your options beyond high school, but also make sure you explore all available sources of financial aid. You might find that your education is more affordable than you think.
There are various resources available to pay for college such as: grants, scholarships and loans to name a few.
Don’t delay in looking at your options. Once you have decided your path for further education, begin your financial aid process so that you make sure to access all available resources.
What are the eligibility requirements to apply for Financial Aid?
You must have a high school diploma or General Equivalency Degree (GED). You must be enrolled in either the Structural Welding Program or Combination Structural & Pipe Welding Program. You must complete the proper paper work and provide all necessary supporting documentation. You must maintain a 2.0 GPA average or higher and have less than a 10% absenteeism rate.
Where can I obtain an application for FAFSA - Free Application for Federal Student Aid?
Apply online at fafsa.ed.gov
This process is free, so avoid financial aid services that charge a fee.
Do I have to complete the FAFSA?
It is suggested that everyone complete the FAFSA but it is not required unless you and/or your parents plan to borrow Federal Direct Loans. It is not required if you are only obtaining alternative loans.
Who is eligible for a Pell grant?
Pell grant is awarded to applicants with the most financial need. The information that you provide on the FAFSA will determine whether you are eligible or not to receive Pell.
What is a SAR – Student Aid Report?
After you submit the FAFSA, you will receive a Student Aid Report (SAR) from the Department of Education. The SAR includes all the information provided on the FAFSA as well as the Expected Family Contribution (EFC). The school receives the information that you submitted within about three to five business days as long as you have included our Federal School Code (016522) on the FAFSA.
What is an EFC – Expected Family Contribution?
The Expected Family Contribution (EFC) is a figure calculated from the information you provide on the FAFSA. It estimates how much your family is expected to contribute towards paying for your education. The EFC is not meant to be an exact amount that you will need to pay up front when you enroll, but it may give you an idea of how much additional funding you might need to come up with.
What is the difference between Subsidized and Unsubsidized Student Loans?
The subsidized loan is based on financial need as determined by the Free Application for Federal Student Aid (FAFSA). The federal government pays the interest while you are in school. The unsubsidized loan is not based on need, which means students at any income level can qualify. Interest will accrue while in school, during your grace period, and during any authorized deferment periods. The student has the option of paying the interest during these times.
How is financial aid applied to my account?
We take the total tuition and subtract the total amount of financial aid awarded. The balance, if any, is then divided into payments; five payments if you are taking the Combination Structural & Pipe Welding Program and three payments if you are taking the Structural Welding Program .
How do I receive excess funds for living expenses from my financial aid?
If there are excess funds, we divide the total into two stipends. The first stipend will be four to five weeks after the student starts school and the second stipend will be half way through the program (in the fifth month for the Combination Structural & Pipe Welding Program and the third month for the Structural Welding Program ). With this in mind, you will need to be able to cushion yourself as far as living expenses for the first four to five weeks of your training until the first stipend can be made. Funds that are posted prior to a Friday check run are disbursed on Friday either to the student after 2:30 PM or mailed to the parent.
What happens if I fail a class and have to repeat?
Student’s receiving a course grade of less than 2.0 will be required to repeat the course at the individual course tuition rate. If your overall GPA falls below 2.0 a student who is receiving Federal Student Aid will be placed on Financial Aid/Academic Probation and will lose their eligibility for financial aid for the repeated course. Once the student has passed the course repeated and their GPA is 2.0 or better, he/she can then be removed from Financial Aid Probation.