In addition to federal assistance a number of federal, state and local organizations offer a variety of financial help in the form of tuition assistance, scholarships, daycare assistance, transportation assistance, etc.

PELL GRANTS

What is a Federal Pell Grant?
A Federal Pell Grant does not have to be repaid. Generally, Pell Grants are awarded only to undergraduate students who have not earned a bachelor's or professional degree.

How do I qualify for a Pell Grant?
The PCI Financial Aid Office will assist you in determining if you're eligible for a Pell Grant. The U.S. Department of Education uses a formula to evaluate eligibility and financial need based on the information you supply on your federal financial aid application.

How much money can I get?
Pell Grants will depend on program funding. The maximum Pell Grant for the 2002-2003 award year is $4,000. You can receive only one Pell Grant in an award year. The amount you receive is based on financial need, cost of attendance, whether you're a full-time or part-time student, and whether you attend school for a full academic year. You may not receive Pell Grant funds from more than one school at a time.


SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT

What is a Federal Supplemental Educational Opportunity Grant?
A Federal Supplemental Educational Opportunity Grant (FSEOG) is for students with exceptional financial need, that is, students with the lowest Expected Family Contributions and gives priority to students who receive Federal Pell Grants. An FSEOG is a grant and doesn't have to be paid back.

What's the difference between the FSEOG and Federal Pell Grant?
The U.S. Department of Education guarantees that each participating school will receive enough money to pay the Federal Pell Grants of its eligible students. There's no guarantee every eligible student will be able to receive an FSEOG; students at each school may be awarded an FSEOG based on the availability of funds at that school.

How much money can I get?
You can receive between $100 and $4,000 a year, depending on when you apply, your level of need, the funding level of the school you're attending, and the policies of the financial aid office where you attend school.

FEDERAL STAFFORD LOAN PROGRAM

Direct Stafford Loans and FFEL Stafford Loans are a major source of student financial aid. Direct Stafford Loans are available through the William D. Ford Federal Direct Loan (Direct Loan) Program and FFEL Stafford Loans are available through the Federal Family Education Loan (FFEL) Program. The principal differences between the Direct Stafford Loan and the FFEL Stafford Loan are the source of the loan funds, some aspects of the application process, and the available repayment plans. Under the Direct Loan Program, the funds for your loan are lent to you directly by the U.S. government. Under the FFEL Program, the funds for your loan are lent to you from a bank, credit union, or other lender that participates in the FFEL Program.
The Direct and FFEL loan programs also offer PLUS Loans for parents of dependent students.

What kinds of Direct and FFEL Stafford Loans are available?
Direct and FFEL Stafford Loans are either subsidized or unsubsidized. You can receive a subsidized loan and an unsubsidized loan for the same enrollment period. A subsidized loan is awarded on the basis of financial need. You will not be charged any interest before you begin repayment or during authorized periods of deferment. The federal government subsidizes i.e. pays the interest on these loans during these periods.

An unsubsidized loan is not awarded on the basis of need. You'll be charged interest from the time the loan is disbursed until it is paid in full. If you allow the interest to accumulate, it will be capitalized, that is, the interest will be added to the principal amount of your loan and additional interest will be based upon the higher amount.
PCI Health Training Center participates in the Title IV Student Financial Assistance programs administered by the U.S. Department of Education, which are grant and loan programs available to students who qualify under federal guidelines. Veterans and other eligible persons can use VA Educational benefits for attendance in the Medical Assistant, Medical Office Assistant or Psychiatric Assistant programs.

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