STUDENT FINANCIAL AID
All students are encouraged to meet with our Financial Aid Director in order to determine financial aid qualifications. At this time, our Financial Aid Director will help the student to complete the necessary forms.
For financial aid purposes, McCann School of Business is a non-term based school (borrower based academic standard). Three quarter terms are equal to one academic year. Thus, McCann students are eligible for two full years of financial assistance in completing their 18-month specialized associate degree program (six quarter terms).
Grade Level Advancement Policy
For ASB Degree and Diploma Programs, McCann defines grade level advancement as 36 credits/36 weeks, as an academic year.
Guidelines
Each individual financial assistance program has specific criteria that the institution must follow. Eligibility for financial assistance may be reduced or eliminated due to an incomplete file, lack of satisfactory progress, change in schedule and other factors beyond the control of McCann School of Business.
Students attending McCann may be elible for both federal and state financial assistance.
Student Loans
Stafford Subsidized Loan - You may apply for this long-term, low-interest loan whether you are a full-time or part-time dependent student. Up to $2,625 for the first academic year and up to $3,500 for the second academic year can be borrowed depending on your need. Repayment begins six months after you complete your education.
Stafford Unsubsidized Loan - For Independent Students Only. It offers up to $4,000 per year, based on your personal need.
PLUS Loan - Parent Loans for Undergraduate Students (PLUS) are available to assist your parents in paying for your education if you are their dependent. Your parents can borrow up to the cost of education minus other financial aid.
How to Apply - Students should apply for student loans at banks in their home communities at least 60 days prior to the need for funds. Loan applications will be furnished by the banks.
Student Grants
Guidelines for Student Grants - Family size, income, and costs at the school where you plan to enroll are the key factors in determining whether a student qualifies for a grant and how much he or she will receive. Thus, the amounts will vary.
Grants - Grants are money awards which are given to students based specifically on financial need.
Federal Pell Grant - A Pell Grant is an award to help you pay for your education after high school. You may be eligible for this program providing you have not already earned a professional degree and are at least a half-time student.
PHEAA Grant - This state grant is available to you if you are a resident of Pennyslvania. You may receive eligibilty depending on your financial need if you are at least a full-time/part-time student, enrolled in a degree program.
Maintaining Eligibility - Students must reapply annually for both grants and loans. In addition, students must maintain satisfactory academic progress and credit completion and remain in good academic standing.
Incomplete and Grade Deficiencies - If a student must repeat a course due to a grade deficiency resulting in a change of full-time status, (12 or more credits per term) the student must remedy the deficiency at his/her own expense. Once the deficiency is remedied, the student must request from the Director of Financial Aid that the financial aid be reinstated.
If an academic deficiency involves an incomplete, it is the responsibility of the student to complete all assignments. Once a grade has been given for the incomplete, the student must contact the Financial Aid Office to report his/her grade. At the time the course is successfully completed, the Financial Aid will be re-instated.
Trade Act Benefits
Will be governed by the latest policies pertaining to trade act regulations.
Veteran's Educational Benefits
Veterans, widows and wives of disabled veterans, and war orphans are eligible for educational benefits. The following V.A. forms should be obtained, completed and submitted to the school as far in advance of enrollment as possible:
Veterans - Completed Form 22-1990 and
a copy of Form DD-214 (separation papers)
Widows and Wives of 100% disabled veterans
- Form 22-5490
War Orphans - Form 22-5490
These forms may be obtained from your V.A. officer.Make-up Work - Make-up work is not permitted for the purpose of receiving Veteran's Administration Training Allowance.
Veterans Readmissions Policy - Each case will be judged on an individual basis.
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