FEDERAL AID ELIGIBILITY at Career Institute School

Federal Aid Eligibility

The Career Institute Office of Financial Aid is here to assist students and their families with the challenge of financing post-secondary education. It is important that you read all available information carefully and keep up-to-date on policies. Staff is available for immediate assistance at both Garden City and Brooklyn Campuses.

Application Process

The Free Application for Federal Student Aid (FAFSA) is the only required application. The federal formula is used to determine eligibility for financial aid, but please remember you must reapply each year you are seeking assistance.  We encourage you to file online at www.fafsa.ed.gov(external link) to speed the process.

If you are offered a Federal Stafford Loan, and it is your first loan with Career Institute, you will be required to complete an entrance interview explaining the aspects of the loan program before the funds can be released. In addition, you must complete a master promissory note (MPN) with your lender. The offer of a Federal Stafford Loan will be sent to you via your Financial Aid Acceptance Agreement. You should log on to the CAREER INSTITUTE Online Information System to accept or decline your awards. New students will accept or decline on the award notice. Processing of the Stafford Loan will take 2-3 weeks at least to complete, so please do not delay.

Determining Eligibility

General Eligibility Requirements are the following:
• Be enrolled as regular student in an eligible program of study on at least a half-time basis...
• High school graduate or GED holder or must pass the ability to benefit (ATB) test.
• U.S. citizen or eligible non-citizen and have financial need determined by the cost of attendance and expected family contribution.
• Not in default or owe a repayment to any federal program.
• Maintain satisfactory progress determined by the grade point averaged and progress towards program completion.

Independent Student Status:
You will be considered independent if you:
• are born before January 1, 1986
• are married
• are currently serving on Active Duty in the U.S. Armed Forces
• are a veteran of the U.S. Armed Forces
• have children who receive more than half of their support from you
• have dependents (other than children or spouse) that live with you and receive more than half of their support from you
• are an orphan or ward of the court, both parents are deceased, or in foster care
• are an emancipated minor as determined by a court in your state of legal residence
• are in legal guardianship as determined by a court in your state of legal residence
• were determined by your high school or school district homeless liaison that you were an unaccompanied youth who was homeless
• were determined by a director of an emergency shelter or transitional housing program funded by the U.S. department of Housing and Urban Development that you were an unaccompanied youth who was homeless
• were determined by a director of a runaway or homeless youth basic center or transitional living program that you were an unaccompanied youth who was homeless or were self-supporting and a risk of being homeless

Need-Based Awards

Eligibility for need-based financial aid is derived from the Need Analysis calculation from the FAFSA form. A formula established by Congress is applied to the information you provide on your application resulting in an expected family contribution (EFC). The difference between the annual costs of attending school (COA) and the EFC is your need (COA-EFC=Need).

Cost of Attendance
Because there is more to pay for a student than tuition, the COA includes more than just tuition and fees. The elements that are included are:
• Tuition & Fees
• Room & Board
• Books & Supplies
• Transportation
• Personal Expenses
• Expenses to assist a disabled student attend classes (if applicable).

Available Financial Aid Programs

The financial aid awarded by the Financial Aid Office consists of the general categories: grants, scholarships, loans and work awards. All programs are awarded based on the eligibility criteria established by federal or state law or School policy.

Grants

Federal Pell Grant is a federal grant that does not have to be repaid. It is awarded based on the EFC calculated by the federal processor. Grants may be made to students enrolling for as few as one class if eligible.

Federal Supplemental Educational Opportunity Grant (FSEOG) is a federal grant awarded by the School based on exceptional need from an annual allocation. First consideration must be given to those students eligible for Pell grant.

Loans

Federal Stafford Loans are low fixed interest rate federal loans made for students. Students are offered 2 types of Stafford loans (Subsidized and Unsubsidized - interest rates vary depending on subsidized versus unsubsidized) and enter repayment 6 months after graduation. Students are eligible for the following levels of awards: freshman $3,500, sophomore $4,500, junior $5,500, senior $5,500. They are also offered an additional 2,000 in unsubsidized funds.

PLUS loans are low 8.5% fixed interest rate loans available to the parents of dependent undergraduate students to help with educational expenses. Parents may borrow up to an amount equaling the COA minus any other aid received. Repayment of these loans begins within 45-60 days after disbursement.

Scholarships

Scholarships are generally awarded by CAREER INSTITUTE and other organizations for academic or other merit. When you apply for admission, your school credentials are evaluated for scholarships. As you continue through your program with the School, scholarships are possible based on academic excellence.

Continuing students can pick up a Scholarship application at the Office of Financial Aid. Students can also contact their Major department chairperson to inquire about scholarship opportunities. Please refer to the Scholarship Award letter for the renewal conditions for each award.

If you receive a scholarship from a community group, business or other organization, please forward a copy of the award notice you received. The award must be accounted as part of your financial aid package, and we need you to keep us informed. Obtaining scholarships can require a bit of research, but there are tools to help you with that research.

Good Web sites to try:
• FastWeb(external link)
• FinAid(external link)

Verification

The federal processor uses a system of edits, or flags, which produces a selection of certain applications for verification. If a student's application is selected for verification, this may mean that a date element in his or her application does not fit generally recognized patterns (not necessarily that the element is incorrect; it merely must be verified), or that the student was simply selected at random.

The Office of Financial Aid may also select files for verification if there appears to be a conflict of information. If a student is selected for verification, the student is notified on the Student Aid Report.

Satisfactory Academic Progress

Students must maintain satisfactory academic progress to receive funds under the Federal Work-Study, Federal Supplemental Educational Opportunity Grant, Federal Pell Grant or Federal Stafford Loan.

Students not meeting these guidelines will not be renewed for additional assistance. The appeals process is handled by the Academic Records Committee. These are the guidelines for satisfactory academic progress.