Steps for Applying for Financial Aid

1. Apply for your student aid pin: www.pin.ed.gov
2. Gather the information needed for your FAFSA
3. Complete your FAFSA online
4. Receive your award letter from the training institution
5. Accept your awards and attend classes!

Types of Financial Aid: Loans

Loans are borrowed money that must be repaid, with interest, just like car loans and mortgages. Since loans require repayment, students are encouraged to take a loan only after exploring all other funding possibilities.

Federal Perkins Loan:

• Eligibility for this loan program depends on fund availability, student need, enrollment status and prior student debt.
• Priority is given to students with exceptional “need.”
• First time borrowers have a nine-month grace period before entering repayment.

Stafford Loans:

• Under FFEL (Federal Family Education Loan), students receive their loan through a bank, credit union or other participating lender.
• Interest rate is variable, not to exceed 8.25%
• You must be enrolled at least half-time to be eligible.
• Eligible students who meet the federal definition of “need” may receive subsidized loans, whereby the federal government pays the interest on the loan until the student enters repayment following a six-month grace period.

Types of Financial Aid: Grants

Grants do not have to be repaid unless, for example, you are awarded funds incorrectly or you withdraw from school. All federal grants are awarded to students with financial need. Federal grants are awarded based on a student´s financial need. Types of federal grants:

Pell Grant:

• Pell Awards are based on need. “Need” is determined by reviewing last year’s tax information.
• The amount of your Federal Pell Grant depends on: cost of attendance, estimated family contribution, and enrollment status.
• Individuals who have defaulted on a student loan are not eligible for the Pell Grant.
• Individuals with Bachelor’s Degree are not eligible for the Pell Grant.
• Federal Supplemental Educational Opportunity Grants (FSEOG):
• FSEOG awards are subject to fund availability, student need, and enrollment status.
• Amounts may vary from $400 to $4,000.
• Per federal regulations, priority is given to students who have exceptional financial need, and who are Pell eligible.
• Leveraging Educational Assistance Partnership (LEAP):
• Eligibility for LEAP awards: Arizona resident and have financial need.

Additional Information(pdf)