STUDENT FINANCIAL AID
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, are at
least a half-time student, and are enrolled in a diploma or degree program at McCann
School of Business & Technology.
If you qualify for a Federal Pell grant, please be advised that the McCann School of
Business & Technology operates on a four term per academic year. (July 1 to June 30) schedule. Federal
Pell grants are disbursed on a three term per academic year schedule. Please be sure to discuss this
with an Admissions Representative.
- PHEAA Grant
- This state grant is available to you if you are a resident
of Pennsylvania. You may receive eligibility depending on your
financial need if you are at least a full-time/part-time student, enrolled
in a degree program at McCann School of Business & Technology.
Full time students can receive a
maximum of six (6) awards. Part-time students can receive a maximum of twelve (12) awards.
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 grade, 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.
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to Student Financial Aid
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