Applying for Financial Aid
The first step in applying for Financial Aid is the completion of the Free Application for Federal Student Aid (FAFSA). The FAFSA can be completed online: https://fafsa.ed.gov/, or in person by scheduling an appointment with a Financial Aid Representative of First Institute. Completion of the FAFSA will determine eligibility for Title IV assistance. The completion of the FAFSA determines a student’s Expected Family Contribution (EFC). Based on the EFC, the student’s eligibility for a Pell Grant and/or Subsidized Loan can be determined. Prospective students should schedule an appointment with a Financial Aid representative of First Institute, Inc. to address any additional questions, as well as to review their eligibility.
Once Financial Aid has been determined, students are issued an award letter indicating the amount of the grant, loan, interest rate and any out-of-pocket expenses, as well as estimated monthly payments. The length of the loan and repayment are also presented by a Financial Aid Representative of First Institute, Inc. during an individual meeting with the students, as well as during the student’s orientation.
Note: Title IV Loans are issued by the U.S. government and must be repaid per the terms of the loan. If a student should withdraw at any time during the scheduled school term, the refund policies set forth shall apply, and in no way does withdrawal of any kind release the student from their obligation to pay the school for all scheduled attendance or from repayment of borrowed monies.