Can I Afford to Return to Education?
More and more modern career choices require you to have a certain level of education or qualifications. This means, if you want to switch careers, you’ll normally have to enter a period of education to gain the skills you need on your new career path.
One of the major obstacles that people come across when thinking about returning to education is the cost. Thankfully, the Federal Government makes grant money available for those looking to retain to better their employment potential.
So, if you are thinking about returning to education, but are worried about how you can afford it, read on for our brief overview of Federal Student Aid.
What is Title IV Federal Student Aid?
Title IV funding provides financial assistance towards the costs of education for more than 13 million students across the US every year. For many, this funding is a gateway to access higher education courses they might otherwise not be able to afford.
The U.S. Department of Education awards more than $120 billion a year in grants, work-study funds and loans to cover expenses such as tuition and fees, room and board, books, supplies, and transportation. Title IV aid can also be used to pay for other education-related expenses, such as a computer and dependent care.
What Types of Funding Are Available?
Title IV funds are defined as federal student aid funds from federal student aid programs administered by the U.S. Department of Education. These forms of funding include:
- Direct Subsidized/Unsubsidized Loan
- Direct Graduate PLUS Loan
- Direct PLUS Loan
- Federal Pell Grant
- Federal Supplemental Educational Opportunity Grant (SEOG)
- Federal Perkins Loan
Funding provided by Universities or private bodies does not count as Title IV funding.
How Do I Know If I’m Eligible for Title IV Federal Student Aid
Title IV Federal Student Aid does come with certain eligibility requirements, both initial and ongoing, which we’ve listed below to make it easier to understand if you are eligible for financial assistance.
- You must be a U.S. Citizen, permanent resident or eligible non-citizen
- You must hold a valid Social Security number (SSN), except for students from the Freely Associated States. These states include the Marshall Islands, Federated States of Micronesia and the Republic of Palau.
- You must have a high school diploma, the recognized equivalent of a high school diploma, such as a GED diploma, or have completed a high school curriculum in a homeschool setting that satisfies your state’s requirements for homeschooling.
- You must be enrolled, or accepted for enrollment, as a student in an eligible degree or certificate program at a college or university that is also eligible for Title IV federal student aid.
How Do I Apply For Student Aid?
First, just complete the Free Application for Federal Student Aid (FAFSA). You can find a copy of FAFSA form, and a guide to completing it, on the Federal Student Aid website. www.FAFSA.ed.gov. You can also fill the FAFSA out online here. Please make sure you enter our school code: 038385. This allows your records to be sent directly to our Financial Aid office so that when you visit the campus, our FA officers can discuss your financial aid package with you in person.
Financial Aid At Northwest Career College
Here at Northwest Career College, we have Financial Aid Officers on staff that can help determine the best financing option for you. To best support our students we offer a range of financial aid including the Pell Grant, Subsidized Loans, Unsubsidized Loans, and Parent Plus Loans. Call us today at (702) 403-1592 to speak with one of our experienced Financial Aid Officers who will help find the best financial support options for you.
Dr. Stephanie Kenny,
Chief Financial Officer