Financial Aid

Financial Aid Assistance

FEDERAL STUDENT AID PROGRAMS

Awards of student assistance described here are conditioned on the availability of funds and on the financial need of the applicant. For continued eligibility for financial aid, the student must maintain satisfactory academic progress in their program of study.

InterAmerican Technical Institute currently
participates in the Federal Pell Grant Program and
Federal Direct Loan Program. Applicants may
contact the institution’s Office of Financial Aid for
specific information regarding the availability of
Financial Aid. A student may apply by completing
the free application for Federal Student Aid, which
is available online at http://fafsa.gov/

FEDERAL PELL GRANT

The Pell Grant is an entitlement program available for those who need it to attend a post-secondary educational institution. The amount of the Pell Grant entitlement is determined on the basis of the cost of education at the institution attended and the actual number of credits for which the student is enrolled. Students can reapply annually for Pell consideration.

Federal Pell Grant does not have to be repaid. Federal Pell Grants are awarded only to undergraduate students who have not earned a bachelor’s or professional degree

FEDERAL DIRECT LOAN PROGRAM

PLUS Loan begins at the time the PLUS loan is fully disbursed, and the first payment is due within 60 days after the final disbursement. The interest rate is charged from the date of the first disbursement until the loan is paid in full.

Applications for this loan and additional information concerning applicant qualifications, repayment schedules, and interest rates may be obtained at the Student Financial Aid Office at 305-554-9281

If a student obtains a loan to pay for an educational program, the student will have the responsibility to repay the full amount of the loan plus interest, less the amount of any refund. If a student is eligible for a loan guaranteed by the federal or state government and the student defaults on the loan, both of the following may occur:

The federal or state government or a loan guarantee agency may take action against the student, including applying any income tax refund to which the person is entitled to reduce the balance owed on the loan.

The student may not be eligible for any other federal student financial aid at another institution or other government assistance until the loan is repaid.

ELIGIBILITY REQUIREMENTS

To qualify for federal student aid the following requirements must be met:

Students must have a high school diploma or
GED equivalent.
Be enrolled as a regular student in an eligible
program.
Be a US citizen or eligible non-citizen with a
valid Social Security Number (SSN)
Make satisfactory academic progress toward
completion of the program.

not cover his or her needs, the student should consult with the School Financial Aid Officer

Disbursement Procedures

Awards will be made in accordance with the award letters issued by the Office of Financial Aid. Federal Pell Grant or campus base checks will be made payable directly to InterAmerican Technical Institute in a separate check for each student‘s account. Financial Aid awards will be disbursed electronically and will be applied to each student‘s account.

Other Financial Aid Information:

If you would like information about filling out the FASFA, or other information related to financial aid, please visit one of the web sites below.

http://fafsa.gov/
www.nslds.ed.gov
www.studentloans.gov
www.studentaid.ed.gov
www.dl.ed.gov
www.loanconsolidation.ed.gov

PROCEDURES FOR VERIFICATION

InterAmerican Technical Institute has developed the following policies and procedures for the verification of information provided by applicants for Federal Title IV student financial aid.

The students selected for verification by the U.S. Department of Educational (ED) or those with conflicting information in their records will be required to submit supporting documentation. Any conflicting information in the student’s file must be resolved before any financial aid may be disbursed, regardless of the student’s verification status.

All students will be notified by the Financial Aid Office on a timely basis if they were selected for verification and what supporting documentation is considered to be making satisfactory academic progress, the student will become eligible for Title IV aid in accordance with the school published policy. If the student fails to maintain satisfactory academic progress during this period, the student will be academically terminated and will not be allowed to re-enroll in the same program

Students who have withdrawals, incomplete grades or a leave of absence during a payment period are eligible to receive Title IV funds provided the student maintains satisfactory progress and the time needed to make up and complete the program is within the maximum time frame specified in this catalog.

The Direct Loan Program offers three loan types:

Direct Subsidized Loans
Direct Unsubsidized Loans
Direct Parent Loan for Undergraduate
Students (PLUS)

Direct Subsidized Loan:

A need-based loan from the federal government from which the government pays for the interest on the loan while the student is enrolled in school. Repayment begins six months after the last day of attendance (LDA). The repayment period still begins six months and a day after the student is no longer enrolled at least half-time, but interest that accrues during those six months will be payable by the student rather than subsidized by the federal government.

Direct Unsubsidized Loan:

A non-need based loan from the federal government where the student is responsible for interest payments on the loan. Students will be responsible for interest payments 30 days from the date of the 1st disbursement. Students have the option to either pay the interest while in school, or have the interest capitalized (deferred) up to six months and a day after the last day of attendance (LDA).

Direct Parent Loan for Undergraduate Students (PLUS):

This loan is sponsored by the federal government and is not a need-based loan. This loan allows for one of your parents to apply in order to help with education costs. The repayment period for a Direct

Not to be in default or owe a refund to any
Title IV program.
Register (if you haven’t already) with the
Selective Service, if you are a male between
the ages of 18 and 25.
Demonstrate financial need.
Not have certain drug convictions.
Use federal and state aid for educational
purposes only.

APPLICATION PROCEDURES

Free Application for Federal Student Aid (FAFSA)
Financial Aid is available for those who qualify. For
financial aid consideration, applicants need to
complete the Free Application for Federal Student
Aid (FAFSA) or a Renewal FAFSA at the Financial
Aid Office or visiting http://fafsa.gov/

An FSA ID gives you access to Federal Student Aid’s online systems and can serve as your legal signature. Create a New FSA ID at https:// fsaid.ed.gov/npas/index.htm

Notification of Financial Aid Awards

Students are notified of their Federal Pell Grant eligibility through an Institutional Student Information Record (ISIR). This report is electronically transmitted directly to the Institute by the federal processor. The U.S. Department of Education employs a uniform formula to evaluate the information contained on the student aid application and to determine the index of need. In order to receive an award, the ISIR must be reviewed and eligibility confirmed by the Financial Aid Office. If the student feels that the awards do required. In addition Financial Aid Office will notified the student for any award changes due to verification by email, mail, phone call, or personal contact. The institution will notify the student of the result of the verification process and any other documentation needed.

Failure to provide the documentation within the specified time period may result in the student being declared ineligible to receive any Title IV funds. Students who are declared ineligible to receive Title IV funds will still be responsible for their financial obligations to the school.

Students who need assistance in obtaining the documentation required should see the school’s financial aid officer.

REFUND DISTRIBUTION POLICY

Refunds will made to the Federal Pell Grant
account up to the amount disbursed
Any additional refunds will be made to the aide
received.
Any additional refunds will be made to the
student

CANCELLATION AND REFUND POLICY

The student (or parent/guardian, if student is a minor) may notify the school in person, over the phone, or in writing (preferred, electronic or otherwise) if he/she decides to cancel or terminate his/her attendance.

All monies will be returned if the applicant is not accepted by the school or if the student cancels within three (3) business days after signing the initial Enrollment Agreement and making the initial payment.

Cancellation after the third (3rd) business day, but before the first class, will result in a return of all monies paid, with the exception of the registration fee.

the date in which the institution recognized that the student has abandoned the program. The withdrawal date is defined as the last day of physical attendance unless earlier notice is received.

Tuition is charged by Payment Period. One Payment Period = 20 weeks for Patient Care Technician (140 days); One Payment Period = 18 weeks for Computer Business Application (126 days).

Samples of the Return Computation are available for the student at the Financial Aid Office.

This policy will calculate the amount of Financial Aid funds earned by the student during their enrollment. InterAmerican Technical Institute will calculate the amount of Title IV aid that was earned based on a payment period basis. The institution will determine:

The Title IV aid disbursed or that could have
been disbursed.
The percentage of Title IV aid earned by the
student.
The amount of Title IV aid earned by the
student.
The total Title IV aid to be returned or
disbursed.
The amount of unearned Title IV aid to be
returned by the school.
The amount of Title IV funds to be returned to
each program by the school.
The initial amount of unearned Title IV funds to
be returned by the student.
The amount of Title IV funds to be returned to
each program by the student.

The student will be obligated for any tuition, fee, books, any supplies or equipment not covered by the Title IV funds.

ADDITIONAL FINANCIAL AID INFORMATION

The refund policy of InterAmerican Technical Institute is stated in the school enrollment agreement and in this school catalog. Retention data of students enrolled in programs offered by the school is available from the School Director

Average starting salaries and the percentage of students employed in specific fields of training are available from the School Director

Any further information desired by an applicant may be obtained from either the Financial Aid Office or the School Director.

Students must notify the Financial Aid Office if any of the following conditions occur: Change of name and address, change of financial status, any change in their attendance status, or school termination. A student who is terminated for unsatisfactory academic progress may re-enroll with the written approval of the School Director after remaining out of school for at least three (3) weeks. If the student

Applicants who have not visited the school prior to enrollment will have the opportunity to withdraw without penalty within three business days following either the regularly scheduled orientation procedures or following a tour of the school facilities and inspection of equipment where training and services are provided.

The refund amount is defined as the difference between the amount paid towards school charges (including financial aid and/or cash) and the amount the school can retain under the appropriate refund policy.

RETURN TO TITLE IV FUNDS POLICY:

The percentage of the period completed by the student is determined by dividing the number of calendar days completed in the payment period, as of the day the student withdrew, by the total number of calendar days in the same period, excluding scheduled breaks of five days or more and days that the student was on an approved leave of absence.

For any student terminating their program of study after entering the institution, the regulations provide that the percentage of Title IV aid earned by a student is equal to the percentage of the period completed by the student (except if that percentage is 60% or more, the student is considered to have earned 100% of the Title IV aid).

Official and Unofficial Withdrawal:

Students who provide written notice of withdrawal will be considered Officially withdrawn and will serve as the students date of determination for the purposes of Title IV refunds. Students who drop without notification are considered unofficially withdrawn and the date of determination will be Returns will be made to the federal programs within 45 days of the student’s date of determination.

Order of Return

All Title IV returns will be subject to the following order of return:

Unsubsidized Federal Direct Loans.
Subsidized Federal Direct Loans.
Federal Direct Plus Loan.
Federal Pell Grant.
Federal Supplemental Education Opportunity Grant (FSEOG).

INSTITUTIONAL REFUND POLICY:

The institutional refunds will be calculated by the payment period.

The student will be obligated to pay for any tuition and fees not covered by Title IV funds.

The institution is entitled to retain only the percentage of charges proportional to the period of enrollment completed by the student. The percentage of the period completed is determined by dividing the number of calendar days completed in the payment period, as of the day the student withdrew, by the total number of calendar days in the same period, excluding schedule breaks of five days or more and days that the student was on an approved leave of absence.

Withdrawal within 50% of the payment period will result in a pro-rated refund computed on the number of days completed to the total number of days in that period, plus a $150.00 registration fee.

Withdrawal after completing 50% of the payment period will result in no refund.

FEDERAL STUDENT AID PROGRAMS

InterAmerican Technical Institute offers Financial Aid Assistance for those who qualify. The school is a participant in the Student Financial Assistance Program supported by the US Department of Education. These programs are designed to help applicants who have limited financial resources, provide funds in the form of grants for students who would not otherwise be able to continue their education. Awards of student assistance described here are conditioned on the availability of funds and on the financial need of the applicant. For continued eligibility for financial aid, the student must maintain satisfactory academic progress in their program of study. InterAmerican Technical Institute currently participates in the Federal Pell Grant Program and Federal Direct Loan Program. Applicants may contact the institution‘s Office of Financial Aid for specific information regarding the availability of Financial Aid. A student may apply by completing the free application for Federal Student Aid, which is available online at www.fafsa.ed.gov.

Federal Pell Grant

The Pell Grant is an entitlement program available for those who need it to attend a post – secondary educational institution. The amount of the Pell Grant entitlement is determined on the basis of the cost of education at the institution attended and the actual number of credits for which the student is enrolled. Students can reapply annually for Pell consideration. Federal Pell Grant does not have to be repaid. Federal Pell Grants are awarded only to undergraduate students who have not earned a bachelor‘s or professional degree.

Federal Direct Loan Program

The William D. Ford Federal Direct Loan (Direct Loan) Program provides low interest rate loans to eligible borrowers to cover postsecondary education costs. A complete FAFSA application must be submitted to determine loan eligibility. The Direct Loan Program offers three loan types: Direct Subsidized Loans, Direct Unsubsidized Loans and Direct Parent Loan for Undergraduate Students (PLUS).

Application Procedures

It is your responsibility to submit all the required material by the announced deadlines. Prospective students are encouraged to apply early for priority consideration. Applicants should not wait for an admission decision before applying for financial aid. Admission decisions are made independent of financial aid decisions. Financial Aid is available for those who qualify. For financial aid consideration, applicants need to complete the Free Application for Federal Student Aid (FAFSA) or a Renewal FAFSA at the Financial Aid Office or visiting www.fafsa.ed.gov An FSA ID gives you access to Federal Student Aid‘s online systems and can serve as your legal signature. Create a New FSA ID at https://fsaid.ed.gov/npas/index.htm

If you would like information about filling out the FAFSA, or other information related to financial aid, please click one of the buttons below.

Financial Aid

support@iti.edu

+1 (305) 554-9281