FINANCIAL AID INFORMATION
American School of Technology maintains a Financial Aid Office to assist students in obtaining the financial assistance they require for their educational expenses. Federal Assistance programs are administered through the Office of Student Financial Assistance—U.S. Department of Education. Any U.S. citizen, national, or person in the U.S. for other than temporary reasons who is enrolled or accepted for enrollment (on at least a half-time basis) may apply for these programs. Most forms of financial assistance are available for each July 1—June 30 award period.
The first step in applying for assistance is the completion of the Free Application for Federal Student Aid. Based upon the information provided, a needs analysis calculation will be performed which will determine the types and amounts of funding for which the student qualifies.
Students may be asked to provide supporting documentation to verify the information that they include in the application. If verification is requested and the student is unable to provide it, the student may not receive federal financial aid assistance.
The following federal financial aid programs are available at the American School of Technology for those who qualify:
1. Federal Pell Grant (formerly Basic Education Opportunity Grant): The Pell Grant is an important source of gift aid for students who demonstrate financial need. The amount of the award depends upon the student’s determination of eligibility, his/her enrollment status, cost of attendance and the payment schedule issued by the U.S. Department of Education.
2. Federal Supplemental Educational Opportunity Grant (FSEOG): is for undergraduates with exceptional financial need, as determined by the school. Priority is given to Federal Pell Grant recipients. An FSEOG doesn’t have to be paid back.
3. Federal Stafford Student Loan Program (formerly the Guaranteed Student Loan program): Under this program, a student who regardless of financial need may borrow to meet his/her educational expenses. The Stafford Loan is designed to make it possible for students to borrow up to $2,625.00, depending on individual eligibility, from participating private lenders to help pay for the cost of education. Stafford loans have a variable interest rate and repayment begins six months after the student leaves school. To apply for the Stafford Loan, students should contact their lenders or the Financial Aid Office.
4. Federal Perkins Loan: A Federal Perkins loan is a low interest (5%) loan to help the student pay for his/her educational expenses after high school. This loan is for undergraduates and graduate students with exceptional financial need, as determined by the school. For undergraduate students, priority is given to Federal Pell recipients. Federal Perkins Loans are made through a school’s financial aid office-your school is your lender. You must repay this loan.
