FINANCIAL AID ASSISTANCE
TUITION & FEES
All programs offered at First Institute are considered full time. Tuition and fees are subject to change. The schedule of charges is for a period of enrollment and the estimated total charges for the entire educational program are listed in the catalog.
The Financial Aid Office is available to assist students in meeting their educational goals by providing information on appropriate financial resources. First Institute is aware of concerns students may have regarding financing their education and wants to assist by providing the best service possible. Our goal is to meet individual needs in a timely, efficient, and equitable manner. Students may receive aid in the form of scholarships, grants, loans or a combination thereof. Information regarding financial aid programs can be found by visiting http://studentaid.gov. It is important for students to understand the financial aid programs they are applying for and the requirements of those programs.
Financial Aid is awarded and based on “need” with the exception of institutional scholarships at First Institute. Need is defined as:
· Cost of Attendance minus Expected Family Contribution minus Grants or other financial aid = Student Unmet Financial Need.
Students who wish to apply for financial aid must submit a Free Application for Federal Student Aid (FAFSA) each award year (July 1 to June 30). If the student is enrolled during the cross-over period (from one award year to the next) a new FAFSA must be completed for Pell Grants only. If the Expected Family Contribution (EFC) changes, the Financial Aid Office will review any Title IV recalculations needed with the student and an addendum to the enrollment agreement will be signed. Students may also be chosen for verification (see Verification of Title IV Funding).
If a student is awarded a First Institute Scholarship (see Scholarships) or a scholarship from an outside organization, the amount will be reduced from the tuition cost and financial aid will be calculated accordingly.
Financial Aid funds will be released according to Federal guidelines and will be disbursed in two payments; the first half within 30 days of the first class date and the second half after the mid-point of the program.
Students receiving financial aid are required to maintain Satisfactory Academic Progress (SAP) as outlined in the catalog. All aid will be credited to the students account as long as the student is eligible, is not on a leave of absence and all verification documents are complete.