Federal Title IV Aid

Federal Title IV Aid

Federal Pell Grant Program

The Pell Grant is given with no repayment expected. This program is designed to provide a “floor” upon which other financial aid programs are built. Any student wishing to receive a Federal Pell Grant at this institution must meet the eligibility requirements established by the U.S. Department of Education.

To receive a Federal Pell Grant a student must complete the Free Application for Federal Student Aid (FAFSA). The FAFSA may be completed on-line at studentaid.gov .  The school code is 012967, Mid-East CTC - Adult Education. 

After the FAFSA has been processed by the Dept. of Education, a Student Aid Report (SAR) will be issued. This report will contain a number referred to as the EFC (Effective Family Contribution). The school uses this number to determine the amount of the student's award as set forth by the U.S. Dept. of Education.

NOTE:  Full awards are made only if the student is attending a program of at least 900 clock hours. A student entering a program of less than 900 hours will receive a prorated reduced award. We are considered a 1st year school even if you have attended other schools.

William D. Ford Direct Loan Program – Stafford Loans

NOTE: Federal student loans will not be certified until a student's FAFSA information has been received and the student’s financial aid file is complete.  This is LOAN MONEY AND MUST BE PAID BACK!
 
Factors in Amount a Student may borrow:
  • Student dependency status:   Dependent verses Independent will be a factor in the amount of loan money a student may borrow. 
  • Program Length:  Programs that are less than 900 hours will receive a prorated down payment based on the number of hours in the designated program. 
  • EFC--Estimated Family Contribution:  This may determine which loan you may be able to get.
  • Current Loan Amounts and Types:  If you have been to college before, this may be a determing factor in amount and type of loan you may be able to get. 
Visit  https://studentaid.gov/ and click on Complete the Process .  Students will need to complete the Master Promissory Note and the Entrance Counseling as an Undergraduate Student for Subsidized/Unsubsidized Loans.   This should be completed at least 2-3 weeks prior to the start of class or no later than 2 weeks after the start of class.   https://studentaid.gov/
 
Beginning the 2020-2021 school year, student and parent borrowers must log into studentaid.gov to veiw how much they currently owe in federal student loans, and to acknowledge that they have seen this amount BEFORE a school can make the first disbursement of the first Direct Loan the borrower receives for a particular award year!  This is a mandatory process!   
 
LOAN REPAYMENT:
In order to achieve a better understanding of loan repayment amounts, go to https://studentaid.gov and click on Manage  Loans.  Once there, you can log in with your FSA ID and all the inforamtion needed regarding the loans you currently have or even your previous loans.  Everything in one spot!

Interest Rates and Origination Fees:  See  for complete information.https://studentaid.gov/understand-aid/types/loans/interest-rates
 
 Look for this symbol on eligible program.


Subsidized/Unsubsidized Federal Direct Stafflord Loans:  Review the two different types of loans that can be made directly to students:. Click this link to understand the difference between the two tpes of loans.


Federal Direct Parent Loan to Undergraduate Dependent Student (PLUS)- PLUS loans are meant to provide additional funds to dependent students for expenses. Parents may borrow up to the cost of education, minus other aid received by the student. Repayment begins approximately sixty days after final loan disbursement is made, or parents may choose a deferment option. Interest begins from the date of the first disbursement until the loan is paid off.  For more information on Parent PLUS loans click this link.

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