Financial Aid

financial aid for trade school

Applying for financial aid can be confusing if it is the first you are doing it. We strive to make financial aid for trade school as stress-free as possible by aiding you at every stage of the process. Therefore, we encourage you to meet individually with a member of our friendly staff in the Financial Aid Office. We will explain what all financial aid for trade school is available, walk you through the application process, and answer all of your questions.

Our goal is to ease the financing process through various solutions like trade school grants and scholarships so that you can concentrate on succeeding in your chosen career program. We can be reached at (215) 381-9403. We look forward to meeting you and helping you to take advantage of all the assistance available to you.

This website will also help you learn more about trade school grants and scholarships. In addition, the pages linked below will provide you with a wealth of information about financial aid programs, explain the application process, and describe your rights and responsibilities. If you are a “do-it-yourself” person, you can even follow the easy instructions to complete your Free Application for Federal Student Aid (FAFSA) online. There are also some handy tools to help students learn how to manage their personal budgets and finances.

We encourage all current and prospective students to read these pages and learn more about financial aid for vocational school. If you need assistance or have any questions, please contact the Financial Aid Office at (215) 381-9403.

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Financial Aid Programs Available at PTT: This page gives basic information about each Federal Student Aid and Pennsylvania State financial assistance program available to students at PTT Institute, along with helpful links to more detailed information from the U.S. Department of Education and the Pennsylvania Higher Education Assistance Agency (PHEAA).

Veterans Educational Benefits: Veterans of the U.S. Armed Services may be eligible for educational benefits from the U.S. Department of Veterans Affairs (VA). PTT Institute is approved for the training of veterans and other individuals, and it participates in the educational benefits programs offered to veterans (and certain dependents of veterans).

Rights and Responsibilities of Federal Student Financial Aid Recipients: Students who apply for financial aid (and the schools that administer the aid programs) are subject to a number of “rules.” Students also have certain rights, including the right to most of the information on this website. This page highlights the student’s rights and responsibilities and provides links to find more detailed information.

How to Apply for Federal Student Financial Aid: This page explains the application process for student financial aid and gives step-by-step instructions for completing your Free Application for Federal Student Aid online. So why not get started today?

Student Loan Process and Requirements: If you are using student loans, there are certain electronic processes and documents you must file in order to comply with federal regulations. This page explains these processes and provides links to the appropriate federal websites.

PTT Budget Payment Plan: If your financial aid isn’t enough to cover all your costs, the school offers a monthly payment plan to help ensure PTT Institute education is affordable for students and their families.

Income Tax Credits for School Costs: Many students and parents are unaware of the U.S. federal income tax credits available to help families offset the cost of higher education. These tax breaks are only available to filers of U.S. Income Tax Returns, but they can go a long way to offset tuition costs for middle-income families.

Cost of Attendance and Net Price Calculator: Every college student (and parent of a college student) worries about costs. Although PTT Institute education is affordable for almost everyone, it is essential to understand the breadth of college costs and to make a financial plan. This page contains information about costs and access to an online estimator program for costs and financial aid.

Withdrawal, Leave of Absence, Tuition Refund, and Return to Title IV (R2T4): In the unlikely event a student needs to terminate his/her education at PTT Institute, the student may be entitled to a full or partial refund of tuition, fees and other costs for the semester from their grants for trade school students. Also, students who withdraw may lose eligibility for all or part of the financial aid already awarded to them, and that financial aid may need to be returned to the financial aid programs (Title IV) by the school and/or by the student.

Financial Aid-Philadelphia Technician Training Instiute 2

Financial Training for PTT Students: Financing a college education is one thing… but having real financial skills to manage your personal finances, credit score, and family budget throughout your lifetime is another thing entirely. PTT Institute students and alumni can access a wealth of information about personal financial management through this page.

Gainful Employment- Gainful Employment provisions were enacted to ensure that students receiving federal student aid in applicable programs could learn about how those programs will lead to what the regulation defines as Gainful Employment.

The Philadelphia Technician Training Institute Catalog: contains detailed information about the school, grants for trade school students, and our academic programs. The catalog is available online as a downloadable .pdf document, and paper copies are also available from the Admissions Office.

Professional Judgement

Special circumstances can affect a student’s financial aid situation, including a change in family circumstances, traumatic events, or reductions in income that may occur while the student is enrolled. This may result in the need to clarify the student’s situation with the Financial Aid office. Professional Judgement is the process of reviewing an individual student’s unique circumstances and exercising the option to change the data elements normally applied through the Department of Education on the FAFSA application that helps compute a student’s SAI, previously known as EFC. Professional judgment changes are made when the financial aid administrator judges the standards used to determine the family contribution are inappropriate for purposes of calculating eligibility for financial aid due to extenuating circumstances. Normally, it comes as a result of a change in the student and/or family’s income or asset information as reported on the FAFSA. Students and their families should be prepared to itemize the change in income and provide copies of all applicable documentation (IRS tax return transcripts, W2 forms, proof of marital separation, letter from former employer, etc.).

Request for Professional Judgment (Special Circumstances) consideration does not guarantee the receipt of new or additional financial aid. Our ability to help will depend on the unique circumstances of the request, the strength of the documentation provided, and the availability of financial aid funding at the time of the result. While maintaining the flexibility to respond to individual student circumstances, the Financial Aid Office also strives for consistency in treatment of students with similar unusual
circumstances. When unusual student cases arise, documentation is reviewed by the Financial Aid Director

Potential Reasons for Exercise of Professional Judgement

All professional judgment changes apply only to data element changes and apply to all
Title IV programs.

A. Change of Dependency Status

  • The Financial Aid Office will automatically initiate appeals for students who indicated on their FAFSA that they have unusual circumstances that prevent them from providing their parents’ information on the FAFSA.
  • Documentation related to the appeal will be requested once the Professional Judgement form is completed. Appeals are reviewed on a case-by-case basis.
  • The ability to change the dependency status is only granted to the Director.
  • Students submitting requests to have their dependency status changed from dependent to independent are required to submit documentation that clearly indicates extenuating circumstances with the students and parental
    relationship. Students who were raised by family members other than their parents would also be considered for a dependency over-ride. Documentation must be verifiable. Support letters should come from “independent” sources not
    associated with the student—such as a counselor, teacher, medical professional, social worker, or religious leader. All documentation needs to have contact information from the individual writing the letter—including their address and phone number(s).

B . Drop of Income and Income Adjustments

  • The ability to use professional judgment for adjustments of data elements on the ISIR is granted to the Director.
  • All income adjustments must be done on a case-by-case basis.
  • All income adjustments must be used to address special circumstances where the data elements on the ISIR—based on income from the base year—no longer reflect the family’s (or student’s) ability to contribute to the student’s education.
  • When making the adjustment, it is appropriate to take into account a changed circumstance that affects the student’s (or family’s) current and near-term economic situation. A loss of employment or reduction in work hours can be considered.
  • When making the adjustment, projected earnings can be used.
  • Third party documentation of changed circumstances should be used, whenever possible, to document the request for professional judgment. In addition, students (and parents) will need to submit a formal request for an assessment of special circumstances.
  • Adjustments on all “dollar” data elements that affect the SAI are allowed by law, including unemployment. These adjustments, however, must be documented along with the reason for the use of professional judgment.
     
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