Federal Student Aid Programs

Southwest Institute of Healing Arts is approved to participate in the Federal Student Aid Programs, Pell, FSEOG, and Stafford Subsidized and Unsubsidized Loans. If you plan on supporting your educational program through Financial Aid, you will complete the Free Application for Federal Student Aid (Eligibility is determined) FAFSA.ed.gov. Once this is complete the school, Financial Aid Officer can determine your award.

Once you have completed your FAFSA, you will be notified by the Department of Education that your Free Application has been processed. Enroll in your chosen program, and schedule an appointment with Financial Aid for educational funding packaging.

Financial Aid consists of grants and loans provided from the federal government, awarded to those who demonstrate need. Each type of aid has specific eligibility requirements. If you are eligible for FA, you may qualify for more than one type of aid. However, it is important to know that financial aid does not usually cover all of your educational costs. The Financial Aid Officer will determine your award and notify you of any unmet costs at the time of packaging.

Who can apply, who is eligible?
~ United States Citizen or eligible noncitizen.
~ High School Graduate, GED.
~ US Tax filer (if required to file).
~ Demonstrate Financial Need.
~ If you are male, registered with selective service.
~ Not in default on any educational loan, and/or owe a refund on an educational grant.

	Pell Grant	FSEOG	Sub Stafford Loan	UnSub Stafford Loan	Parent PLUS Loan
Description	Grant: does not have to be repaid	Grant: does not have to be repaid	Loan: Must be repaid.	Loan: Must be repaid.	Loan: Must be repaid.
Eligibility	Need Based	Need Based	Need Based	NOT Need Based	Credit Based
Amount	Maximum: $4,731.	Maximum: $1,000.	Maximum: Year 1: $3,500 Year 2: $4,500	Maximum: Year 1: $6,000 (Ind) $2,000 (Dep)	Cost of Attendance, less other aid received.
Interest Rate	None	None	Varies Annually	Varies Annually	Varies Annually
Repayment Terms	None	None	Up to 10 years	Up to 10 years	Up to 10 years
Minimum Repayment	None	None	$50 per month	$50 per month	$50 per month
Interest Subsidy	None	None	Student pays NO interest while in school and grace period.	None	None
Repayment Begins	N/A	N/A	6 Months after graduation.	6 Months after graduation.	60 days after loans are disbursed
Insurance or Origination Fees	N/A	N/A	NTE 4%	NTE 4%	NTE 4%

Repayment

After you graduate, leave school, or drop below half-time enrollment toward a degree, or certificate, you have six (6) months before you begin repayment. This is called the grace period.

Your lender will send you information about repayment, and you will be notified of the date repayment begins. However, you are responsible for beginning repayment on time, even if you do not receive this information. Failing to make payments on your loan can lead to default as outlined in both your Entrance and Exit Counseling Sessions.

You can review your financial aid loan and grant history, student loan amounts and the status of your Stafford Loans on the National Student Loan Data System at NSLDS.ed.gov.