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Financial
Aid
School
Code:037764
Healing
Arts Institute offers financial aid for students who are financially
and academically eligible. Financial aid is money to help
you cover your educational expenses and is intended to supplement,
not replace, the expenses involved in the cost of your education.
In addition to financial aid, the school offers payment plans
to those who may not be eligible for financial aid.
APPLYING
FOR FEDERAL FINANCIAL AID
To
apply for financial aid, a prospective student needs to fill
out the Free Application for Federal Student Aid (FAFSA).
This is the one form used to apply for all federal aid, including
both grants and loans. Students may complete the application
online at www.fafsa.ed.gov.
Be sure to include our school code, which is 037764 in your
application. Priority is given to financial aid applications
received at least 30 days prior to the first day of classes.
Applications received fewer than 30 days before the first
day of class will be considered after all priority applications
have been processed. It is not necessary to have the financial
aid application process completed prior to starting classes;
however, Healing Arts Institute will not assume eligibility
for any student who has not received and returned a signed
estimated financial aid award letter prior to signing an enrollment
agreement.
ACADEMIC
ELIGIBILITY
To
be eligible for federal aid, a student must be enrolled in
a program of at least 12 clock hours per week and meet the
standards of satisfactory academic progress for grades and
completion time as outlined in the school catalog and Student
Financial Aid Handbook.
FINANCIAL
ELIGIBILITY
The
Pell grant and subsidized Stafford Loan programs are need-based
aid; students must have financial need to be eligible. Financial
need is determined by subtracting the expected family contribution
(EFC, determined by the U.S. Department of Education from
information provided on the FAFSA), from the Cost of Attendance,
including both direct and indirect costs associated with attending
Healing Arts Institute.
Unsubsidized
Stafford loans are not need-based and may be available to
otherwise eligible students who do not demonstrate a financial
need.
Through
the FFEL PLUS Loan program, parents of dependent students
may borrow up to the cost of attendance minus any other aid
the student receives. Parents who wish to borrow through the
FFEL PLUS Loan program need to complete a PLUS Loan Application
and Promissory Note, available from the financial aid office.
AVAILABLE
AID
Healing
Arts Institute is approved to participate in Federal Title
IV financial aid programs. Currently, funds are available
through the Pell Grant, FSEOG, FFEL (Stafford) Subsidized
and Unsubsidized Loan, and FFEL PLUS Loan programs.
In
addition to federal aid programs, Healing Arts Institute is
an approved training provider for Ohio Workforce Investment
Act (WIA) programs, the Bureau of Vocational Rehabilitation,
and is approved by the state approving agency for veteran's
benefits. Information about eligibility requirements and application
procedures for these programs are available from the agencies
that administer them. A further explanation of these agencies
and how to contact them is listed at the end of this section.
VETERANS
BENEFITS
Veterans,
widows, or wives of disabled veterans, and war orphans may
be eligible for education benefits.
If
you believe you may be entitled to VA benefits yourself, or
as a dependent, call 1-888-GI-BILL1 to determine your eligibility.
The necessary Veterans Administration (VA) forms can be obtained
from your VA office, the school or found on the web-site at
www.gibill.va.gov.
The
Veterans Administration administers the following benefit
programs:
- Montgomery GI Bill-Active Duty
- Montgomery GI Bill-Selected Reserves
- Veterans Educational Assistance Program
- Survivors' and Dependents' Educational
Assistance Programs
The
funds will be sent from the VA to the student's home address.
After the initial claim is processed, a monthly check will
be sent for as long as the student remains enrolled and eligible
for benefits.
It
is possible to request advance payment if the veteran/reservist
is just beginning a college education or has not taken any
classes for 30 days. Advance payment checks are sent directly
to the school. To be eligible, students must be:
- Enrolled half time or more, and
- Request advance payment 60 days before
the first day of the quarter so that forms are received
by the VA regional office at least 45 days before the first
day of the quarter.
FEDERAL
PELL GRANT
The
Federal Pell Grant is gift assistance that is funded and awarded
by the federal
government.
To qualify, you must:
- Be an eligible student whose Expected Family
Contribution (EFC) is less than or equal to the figure set
by the federal government.
- Not be in default on a federal student
loan or owe a refund on a federal grant.
- Not have borrowed federal education loans
in excess of your aggregate borrowing limit.
- Not have a baccalaureate or professional
degree.
- Be an U.S. citizen or an eligible non-citizen.
- If required, be registered with Selective
Services.
- Be enrolled in a program leading to a diploma,
an associate or first baccalaureate degree.
- Be making Satisfactory Academic Progress
(SAP) for financial eligibility.
Federal
Supplemental Educational Opportunity Grant (FSEOG)
The
Federal Supplemental Educational Opportunity Grant (FSEOG)
is gift assistance funded by the federal government and
awarded by Healing Arts Institute. The FSEOG is for undergraduates
with exceptional financial need and low Expected Family Contribution
(EFC). Priority consideration is given to students who receive
the Federal Pell Grant, meet the deadline, and demonstrate
the greatest financial need. Recipients must meet all the
eligibility criteria required for receipt of federal assistance,
including Satisfactory Academic Progress (SAP).
FEDERAL
DIRECT STAFFORD LOAN (subsidized and unsubsidized)
The
Federal Subsidized Stafford Loan is a loan program providing
federally subsidized, low- interest loans to those who qualify.
Subsidized loans are awarded on the basis of student financial
need. The Federal Unsubsidized Stafford Loan provides loans
to students who do not meet financial-need criteria for a
subsidized Federal Stafford Loan
The
Federal Unsubsidized Stafford Loan is referred to as a
“non-need-based” loan. Borrowers must be U.S.
citizens or eligible non-citizens enrolled at least part-time
and maintaining Satisfactory Academic Progress for Financial
Aid Eligibility.
PARENT
DIRECT PLUS LOAN
The
Federal PLUS program offers assistance to dependent students'
parents, who qualify, to assist with educational expenses.
Parents may borrow on behalf of their dependent undergraduate
children. Under the PLUS loan program, parents who qualify
may borrow the full cost of education less other financial
aid.
Students
needing financial aid assistance in order to complete their
education should contact the Institute's Financial Aid Staff
as soon as possible. The Financial Aid Staff is available
to assist you in exploring all available resources in order
to make your education most affordable.
BUREAU
FOR VOCATIONAL REHABILITATION (BVR)
The
BVR provides grant programs for undergraduate students with
disabilities. The Rehabilitation Services Commission in the
student's state of residence determines a student's eligibility.
Students with disabilities who are interested in applying
should contact the Commission in their capital city to begin
the process.
WORKFORCE
INVESTMENT ACT (WIA)
We
offer WIA certified training programs for those students who
qualify sponsored by the U. S. Department of Labor.
PRIVATE
LOANS
Private loans are made by banks and other lending institutions
to provide students with additional funding for unmet college
expenses.
Eligibility Criteria
Your eligibility for these loans is determined by a variety
of factors, including, but not limited to: cost of attendance,
academic rank, scheduled hours, credit history, or co-borrower
information.
Private loans can vary widely in interest rates, repayment
terms, and eligibility criteria.
BE A SMART CONSUMER AND SHOP AROUND!
Private
Loan Lenders
Neither Healing Arts Institute nor the Office
of Financial Aid intends any specific endorsement of these
products by including them on this page.
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