Financial Aid Programs

Federal and State Student Financial Aid Programs

 

In order to be considered for federal student financial aid programs, you must meet thefederal student aid eligibility rules and complete an on-line application.  Simply follow the easy steps on the How to Apply for Financial Aid page of this website. Of course, if you need any help or have questions about the application process; the financial aid office staff is available to assist you.  Please call 215-381-9403 and schedule an appointment with a member of our financial aid office.

 

The federal student financial aid programs available at Philadelphia Technician Training Institute are as follows: (The name of each program is a link to the U.S. Department of Education’s website for the specific program.  This site contains the most current and detailed information available).

 

Federal Pell Grantprovides grant aid money to assist students who have not already received a Bachelor’s Degree.  (Note: If you are eligible for a Pell Grant and your parent or guardian was a member of the U.S. Armed forces who died as a result of military service in Iraq or Afghanistan after Sept. 11, 2001, you are eligible for a Pell Grant for the award year).

 

Federal Direct Subsidized Stafford Loan is a loan* available to students with financial need. The federal “subsidy” includes the elimination of interest while the student is in school and a reduction of the interest rate during repayment.  The loan amount is based on grade level, dependency status and financial need.

 

Federal Direct Unsubsidized Stafford Loan is a loan* available to students in which you are not required to demonstrate financial need. Interest accrues (accumulates) on the loan from the time it is first disbursed (paid out).  You can still pay the interest while you are in school, during grace periods and deferment periods.  If you choose not to pay the interest, it will be added to your loan balance and interest will accrue on the higher principal loan amount.  The loan amount is based on grade level and dependency status.

 

Federal Parent PLUS Loan is a loan* available to parents of dependent students.  A parent, if credit approved, may borrow up to the full cost of attendance minus any other financial aid.

The Pennsylvania State Grant Program is a financial assistance program that provides funding to eligible Pennsylvanians and helps them afford the costs of higher education.

* A loan is a financial obligation that must be re-paid in the future through monthly payments, including interest.  It is very important to know and understand the terms of a loan before signing a promissory note and entering a loan obligation.  The terms of a loan include interest rate, repayment schedule, and borrower rights and responsibilities.

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