ETI is an eligible institution of
Higher Learning, approved by the U.S. Department of Education, to
offer several types of financial assistance (loans and grants) to
those who qualify. A booklet published by the U.S. Department of
Education, describing in detail the various types of financial
assistance available can be obtained by request through the ETI
Financial Aid Office.
The U.S. Department of Education financial aid programs available at
ETI Technical College are:
1. Federal Pell Grants (FPELL)
2. Federal Supplemental Educational Opportunity Grants (FSEOG)
3. William D. Ford Direct Loans:
*Stafford Loans
*Parental Loans for Dependant Students (PLUS)
The Ohio Board of Regents offers the following financial aid
programs at ETI Technical College:
1. Ohio War Orphans Scholarships
2. Ohio Safety Officers Memorial Funds
First time borrowers must attend an entrance interview before they
receive the first disbursement of their student loan(s). Exit
interviews are conducted before graduation and/or at the time of
withdrawal.
RECIPIENTS OF THE FOLLOWING SCHOLARSHIP MUST BE OHIO RESIDENTS: |
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Federal Pell Grant-(FPELL)
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This program makes funds ( which need not be repaidif the semester
is completed) available to
eligible students attending a nationally accredited college. It is
estimated that your grant will range from $0 to $5,350.00 per
academic year. To determine if you are eligible, the U.S. Department
of Education uses a standard formula, established by Congress, to
evaluate the information you report when you apply. The formula
produces an Expected Family Contribution (EFC) number. Your Student
Aid Report (SAR) contains this number and will tell you if you are
eligible. To apply for the Federal Pell Grant you must complete a
form called Free Application for Federal Student Aid (FAFSA). You
may get copies of this application form from the Financial Aid
Office At ETI College. Or apply online. ETI's school code is #030790
http://www.fafsa.ed.gov |
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Federal Supplemental Educational Opportunity Grant (FSEOG) |
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This grant program (which need not be repaid if the semester is
completed ) is available to
eligible students with EXCEPTIONAL FINANCIAL NEED, who are also
Federal Pell Grant recipients. How much aid you receive will depend
upon your financial need and upon the availability of funds. |
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Federal
Stafford Loans |
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Federal Stafford Loans are low
interest loans made to students attending school at least half-time.
These loans are through the William D. Ford Direct Loan Program.
Students may qualify for a "subsidized" Federal Student Loan, which
is based on financial need. Eligible students can also get an
"unsubsidized" Federal Stafford Loan regardless of need.
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Federal Stafford-Subsidized (FSL) |
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Federal Stafford Loans are low interest loans made to students
attending school at least half-time. These loans are through the
William D. Ford Direct Loan Program. Students may qualify for a
"subsidized" Federal Student Loan, which is based on financial need.
Eligible students can also get an "unsubsidsidized" Federal Stafford
Loan regardless of need.
In
subsidized money eligible students may borrow up to $3,500.00 for the
first year and $4,500.00 for the second year. The interest will be
deferred while you are attending school and up to 6 months after
termination or graduation. REPAYMENT begins 6 months after
termination or graduation. Minimum payment amounts are based on
outstanding principal balance. Interest rates are fixed at 5.6%.
There is a 1.5% guarantee and origination fee and a 1.0% rebate in
in effect. A choice of repayment schedule is offered. |
| Federal Stafford-Unsubsidized(FSLU) |
| The
"unsubsidized' loan is the same as above but, eligible students may
borrow up to $6000.00 and interest is NOT subsidized while attending
school.Interest rates are fixed at 6.8% Dependent students will only
qualify for up to $2000.00. The total amount for both programs cannot exceed $9,500.00
for the first year. |
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Federal Plus Loans (PLUS) |
| Federal PLUS
Loans enable parents with good credit histories to borrow for each
child who is enrolled at least half-time and is a dependant student.
The yearly loan limit is your cost of education minus any estimated
financial aid for which you are eligible. There is a 4% guarantee
and origination fee on each loan. Interest rates are fixed at 7.9%.
Dependant students whose parents are denied the Federal Plus Loan
may be eligible for an additional $4000.00 in Unsubsidized (FSLU)
loan money. |
Please go here for additional Financial Aid
and Scholarships
http://www.eticollege.edu/scholarship.htm
Direct Loan Servicing website
http://www.dl.ed.gov
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