Financial Aid Programs
 
New Professions Technical Institute is authorized by the U.S. Department of Education to assist its qualified students in obtaining financial aid funds from Institutional and Federal Financial Aid Programs.

Below you will find information on:

bulletGeneral Information
bulletFinancial Programs
- Federal Pell Grants
- Federal SEOG
- Federal Work Study Program
- Merit Scholarship
- German L. Prieto Scholarship
bulletGeneral eligibility requirements
bulletFinancial aid application procedure
bulletFinancial aid reapplication procedure

 

GENERAL INFORMATION

The objective of the student Financial Aid Program at New Professions Technical Institute is to provide direct financial assistance to qualified students who, otherwise would be unable to attend the Institution due to insufficient funds to meet tuition, fees, books, supplies, and other allowable educational expenses. The availability of Financial Aid funds is generally determined by the availability of such funds from the federal, state, institutional and private sources. The amount of financial aid that could be granted to a student is based upon the financial need of the applicant as determined by the federal system of needs analysis. Financial need is understood in the Federal Financial Aid Program and the difference between the cost of attending an educational institution and the amount the student and/or parent can be expected to contribute to cover such educational expenses. To determine the financial need of a student, New Professions Technical Institute uses the Federal Application for Federal Financial Aid (FAFSA) and the information provided by the applicant and/or student’s parents.

FINANCIAL PROGRAMS

FEDERAL PELL GRANTS

Grants are Financial Aid Programs of “gift” aide, which are awarded to students based upon financial need. Due to the nature of these Aid Programs, Grants do not require to be repaid. Students may apply for the Federal Pell Grant.

The Federal Pell Grant is usually considered the first source of student assistance. The Pell Grant amount that can be awarded to a qualified student is based on the student’s Expected Family Contribution (EFC), the Cost of Attendance (COA), and the student’s enrollment status. Currently, the maximum Pell Grant is $3,900.00. The Federal Pell Grant is not available for students who have earned a Bachelor’s Degree.

FEDERAL SEOG

A Federal Supplemental Educational Opportunity Grant (FSEOG) is for undergraduates with exceptional financial needs, which means students with the lowest Expected Family Contributions (EFCs), and gives priority to students who receive Federal Pell Grants. Students can receive between $100 and $4,000 a year depending on when they apply, their level of need, and the funding level of the school. An FSEOG does not have to be repaid.

FEDERAL WORK STUDY PROGRAM

The Federal Work-Study Program provides jobs for undergraduate and graduate students with financial need by allowing them to earn money to help pay education expenses. The program encourages community service work and work related to the student’s course of study. Employment is part-time only. An application can be made through the School’s Financial Aid Department. Eligibility is based on financial need and the availability of funds.

MERIT SCHOLARSHIP

New Professions Technical Institute offers the “German L. Prieto Scholarship” to deserving students who have shown a high sense of responsibility regarding their attendance to the scheduled classes.

All scholarships are funded with New Professions Technical Institute funds.

GERMAN L. PRIETO SCHOLARSHIP

The Institute offers these scholarships to students who are enrolled in an Academic Program. The award consist of a tuition credit equivalent to 30% of the total tuition charged for the program. These scholarships are awarded at the end of the program of study to each student who satisfies all of the following requirements:

bullethas graduated from an eligible Academic Program.
bullethas an attendance record of 90% or above relative to the total length of the program he/she graduated from.
bullethas no other source of financial aid.
bulletis not an I-20 student (student Visa).

GENERAL ELIGIBILITY REQUIREMENTS

To qualify for financial assistance from any Federal or State, Student Financial Assistance Program (SFA), the student must:

  1. Be either a US Citizen (or US national) or an eligible non-citizen. The term “national” includes citizens of American Samoa and Swain’s Island.

    Eligible non-citizen include:
    bulleta) US permanent residents who have an Alien Registration Receipt Card (I-551)
    bulletb) Conditional permanent residents who have a Conditional Alien Registration Receipt Card (I-551C)
    bulletc) Other eligible noncitizens who have an Arrival Departure Record (I-94) from the US Immigration and Naturalization Service showing any of the following designations: refugee, asylum granted, indefinite paroles, humanitarian paroles, and Cuban-Haitian entrants.

  2. Be qualify to study at the postsecondary level. For Student Federal Aid (SFA) purposes, a student with a high school diploma, or a General Education Development (GED) certificate, or any other recognized equivalent is considered qualified.
  3. Demonstrate to have legitimate financial need. This determination is made based on the definition of “Financial Need” as described in the Student Financial Assistance Programs (SFA). To this effect, both the students’ Cost of Attendance (COA) and the Expected Family Contribution (EFC) must be calculated. A positive value in the calculation of COA – EFC identifies a “Financial Need”.
  4. Maintain satisfactory academic progress toward the completion of the student’s academic program of study. Student must maintain a minimum cumulative Grade Point Average (GPA) of 2.00 or higher. See “Satisfactory Academic Standards of Progress” under “Academic Regulations” for more details.
  5. Be at least a ¾ time student who is enrolled (or is accepted by the Institution for enrollment) in an eligible program for the purpose of obtaining, upon satisfactory completion of all the requirement for graduation, a diploma or other recognized credential. Some of the educational program offered at New Professions Technical Institute may require a full-time enrollment.
  6. Not owe a refund on a Federal Pell Grant and/or Federal Supplemental Educational Opportunity Grant (FSEOG) programs that may have been awarded in excess.
  7. Not be in default on a Federal Perkins Loan (or National Direct Loan), and/or Federal Stafford Loan (or GSL), and/or Federal Plus Loan.
  8. Agreed to abide by the terms of the “Drug-Free School and Communities Act” as a condition of enrollment.
  9. Sign a “Statement of Educational Purpose”. In this statement, the student certifies that he/she will use any federal student aid funds received during the award year covered by the application solely for postsecondary educational expenses related to attendance during the award year at New Professions Technical Institute.
  10. Sign a “Certification Statement on Overpayment and Defaults.” This certification states that the student does not owe a repayment of any Title IV SFA educational grant or loan and either is not in default on any Title IV SFA educational loan in his/her name. This certification also states that the student has not borrowed (at any school) in excess of the allowable SFA educational loan limits.

FINANCIAL AID APPLICATION PROCEDURE

In order to apply for any SFA Program, the prospective student who seek for financial aid must:

  1. Complete a “Free Application for Federal Student Aid (FAFSA)” form. This application is available at the high school or New Professions Technical Institute Financial Aid Offices. It is the applicant and/or his/her parent’s responsibility to ensure that the information provided in the FAFSA form is accurate. The information that you supply can be verified by New Professions Technical Institute and/or by the US Department of Education. For this purpose, the applicant must provide the appropriate US income tax returns, including the one produced by the student, spouse, and/or parents, whichever applies, and any other relevant information. It should be noted that if any financial aid awarded to you based on incorrect information, must be repaid including applicable fines and fees. If you purposely give false or misleading information on your application, you may be fined $10,000.000, sent to prison, or both.
  2. Make an appointment with the Financial Aid Service Department. During the interview, the financial aid officer will evaluate the COA and the EFC for the applicant in order to determine the corresponding “Financial Need” and the amount of financial aid the student can expect to receive.
  3. Sign the FAFSA application form, make a photocopy of it for your own records, and send the original application to the “Federal Student Aid Programs.”

Within thirty (30) days after filling the FAFSA application form, the applicant should receive a “Student Aid Report” (SAR)” at New Professions Technical Institute. If verification is required, the applicant is responsible for providing proof of any and all information that may be required.

FINANCIAL AID REAPPLICATION PROCEDURE

Students must be aware that Financial Aid is not automatically renewed each year. It is the sole responsibility of the student to reapply for SFA for the next award year.

New Professions Technical Institute reserves the right to request any additional information from parents, legal guardians, spouse, and/or student information in order to assess the current COE and EFC of the student which may change due to possible changes in the student’s financial situation.

NOTE OF CAUTION

The Student’s Financial Aid is solely the responsibility of the student. If the student’s financial aid fund is not received by the Institution while the student is in the school, the student is absolutely responsible for paying all tuition and fees related to attending New Professions Technical Institute.

  

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