Financial Aid

   
A brief summary of available financial aid and typical dollar amounts are shown below.  A more complete description can be found in the School's Consumer Information Brochure or online.

 

Financial Aid Program Dollar Amount Note
Pell Grants $5,550 Amount is based on the students' need.  The Pell Grant does not need to be repaid by the student.
SEO Grant $1,000 Amount is based on the students' need.  The SEO Grant does not need to be repaid by the student.
Stafford Loan (subsidized) $3,500 Must be repaid by the student.
Stafford Loan (unsubsidized) $4,000 Must be repaid by the student.
     
Total Financial Aid (26 weeks) $13,050 Amount available to the student if they graduate in 26 weeks. *
Total Financial Aid (52 weeks) $26,100 Amount available to the student if they graduate in 52 weeks.*

    Federal Pell Grants: As with most federally funded programs, Pell Grants are awarded on the basis of financial need.  The money comes from the U. S. Department of Education.  The maximum amount varies from year to year and student eligibility also is quite variable.  The government operates on a fiscal year basis beginning July 1 and ending June 30.  If you attend in more than one fiscal year you could be eligible for more than one grant. 

    Federal Supplemental Education Opportunity Grants: SEOG dollars are limited and are awarded normally to students who have an Expected Family Contribution of zero.  SEOG's may be as much as $1000.

    Federal Family Education Loans: Also known as Stafford loans, these are low-interest, long-term loans.  The interest rate is now approximately 6.4%. There are two types of Stafford loans.  Subsidized Stafford's are for needy student and repayment begins six months after the student leaves school;  Un-subsidized Staffords call for repayment to start two months after the loan is granted, however you may request capitalization of the interest while you are in school so payments do not start until after you graduate.

    Federal Parental Loans to Undergraduate Students (PLUS Loans): Parents of dependent students may apply for this loan.  Terms are very similar to the un-subsidized Stafford loan.

    Hope Scholarships:   A student or a student's parents may claim a tax credit of $1500 when they file their tax turn.  Note that is is a direct reduction, dollar for dollar, of the taxes you would have paid.  It is like a grant that arrives April 15!

    State Vocational Rehabilitation Aid:  Individuals with disabilities may be eligible for this aid under the Vocational Rehabilitation Act as determined by the Iowa Vocational Rehabilitation Agency.  The School can help an applicant get in touch with the proper authority.

    Veterans' Benefits: Veterans' benefits are available to qualified veterans.  The amount of assistance is based upon the V.A. program the veteran falls under and his or her family size.

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