Financial Aid Made Simple – What You Need to Know
Congratulations on your decision to enroll in a career training program. These next steps will prepare you by helping you build the skills you need to be successful.
While this journey may be exciting for you, it likely comes with a lot of questions too. You may find yourself wondering how you will pay for college, if there are resources for you to borrow money from, and if you qualify for these resources.
Fortunately, the financial aid team at UEI College is here to assist you. We know that your education is an investment and that not every student has the means to pay for their schooling sitting in their lap.
Our campuses offer several financial aid options for you and below, we will introduce you to what those options are. If you want to discuss enrollment, financial aid, or when classes start, do not hesitate to reach out to one of our UEI College representatives today!
DO I QUALIFY TO RECEIVE FINANCIAL AID?
The first question that comes to your mind is likely, do I qualify for financial aid. The short answer is, most students do qualify. It is important to work closely with your financial aid advisor though as some students may not be eligible for aid.
To meet some of the basic requirements to be eligible for financial aid, you must:
- Be a U.S. citizen or an eligible non-citizen
- Have a high school diploma, GED, or equivalent
- Registered with the selective service (for male applicants only)
Eligibility and determination of financial aid is determined by the FAFSA (Free Application for Federal Student Aid).
If you have any questions about financial aid or your eligibility, please call our financial aid office today!
AM I CONSIDERED DEPENDENT OR INDEPENDENT? HELP!
As you work through the FAFSA, you may find yourself wondering if you are considered an independent or dependent student. The biggest different between the two is whether you will need to provide your parent’s tax information on the application. (Dependent students ARE required to provide their parent’s information.)
To determine if you are considered independent, look at the questions below. If you answer yes to any of them, you ARE considered independent.
- Do you have children or dependents who receive more than half their support from you?
- Are you married as a today?
- Are you a veteran of the U.S. armed forces or on active duty?
- Are you working on a degree beyond a bachelor’s degree in the current school year?
- Are you or were you a ward of the court, orphan, in foster care, or are you an unaccompanied youth who is self-supporting and at the risk of being homeless or are homeless?
- Will you be 24 years of age or older by December 31 of the school year for which you are applying for aid?
WHAT FINANCIAL AID OPTIONS EXIST?
There are many financial aid options that exist for students. You may already know about some of them or they may all be new to you. The amount of award you receive will depend on both your current financial situation and your FAFSA results.
Below, we will discuss the four main financial aid options available to students.
UEI College offers campus scholarships available to students. Our financial aid advisors can help you determine if you may qualify for them.
Students should note that these funds do NOT have to be repaid.
Students have the opportunity to receive the Federal Supplemental Educational Opportunity Grant and the Federal Pell Grant.
3. Federal Work Study
Some students may find that they qualify to participate in Federal Work Study. This is an opportunity for you to earn money while working at one of our campus. The money can be used to help pay for your tuition and fees.
4. Student Loans
Student loans are available to all students. It is important to note that student loans MUST be repaid. Students who do borrow money can use the funds to pay for tuition, supplies, and their classes.
Federal Direct Subsidized Loans
Direct subsidized loans are offered to students who show a financial need. There is no credit check required for these loans. Students who receive these loans benefit from the government paying interest on the loans while the student is enrolled at a minimum of half time in school.
Federal Direct Unsubsidized Loans
Direct unsubsidized loans do not require a financial need and do not require a credit check either. Interest does begin to accrue on these loans immediately.
Federal PLUS Loans
PLUS loans are an option for parents of undergraduate students and they often bare a low interest rate. Payment on these loans begins 30 days after the funds are disbursed.
Institutional loans are an additional funding option above and beyond the other types of aid you have been awarded.
UEI College Financial Advisors Are Here to Help
Sifting through the different financial aid options can be difficult and time consuming. In fact, you may even find yourself confused too. The UEI College financial aid team is here to assist you and explore your options with you. There are many ways to ensure you can afford your college experience.
To schedule an appointment with one of our financial aid advisors, do not hesitate to reach out to us!
Once you have an appointment, bring the following documents with you:
- Transcripts from other schools
- Your high school diploma or GED
- Your state-issued ID or driver’s license
- Your U.S. passport or permanent resident card
- Your social security card
- Your tax transcripts (your parent’s tax transcripts if you are classified as dependent)
Ready to make an appointment? Call us now!