Financial Aid - Our Federal School Code is: 010913

The FAFSA is the first step in the financial aid process. It is used to apply for federal financial aid, such as grants, and student loans. Even if you don't think you are eligible for financial aid, you should still fill it out because many states and schools also use it to award non-federal aid.

The schools that you list on your FAFSA receive your results in your Student Aid Report (SAR). This report contains a number called your Expected Family Contribution (EFC). Your Expected Family Contribution is commonly referred to as your family's "ability to pay." Compare financial aid offers from the different schools you're considering very carefully. Not all offers are the same.

The Media Institute uses your Expected Family Contribution to calculation your financial need. This determines your eligibility for aid. Then we create your financial aid offer, which can contain federal grants, low-cost loans, or other programs. You receive the financial aid offer from us in a package, often referred to as an award letter.

We offer a free Financial Aid Estimator. This form is used to calculate the Expected Family Contribution (EFC) and financial need, and to estimate your student financial aid. This is a free service. We do not retain any record of the information you submit using this form, and have taken steps to ensure your privacy.

For those who qualify, the Pell Grant program awards government grants to undergraduate students. These grants are generally not repaid. Awards for the school year range from $555.00 to $5,550.00.

The Federal Supplemental Educational Opportunity Grant (SEOG) program awards government grants for undergraduate students. Awards for the school year range from $200.00 to $300.00. These grants are generally not repaid.

Federal Work Study is one of the Title IV federal financial aid programs. It is awarded to students based on their demonstrated financial need using information from the Free Application for Federal Student Aid (FAFSA). Through this program students may earn up to the amount listed on their financial aid award letter and their wages will be subsidized by the federal government.

Media Institute is approved for other types of governmental financial assistance including Veterans Educational Benefits, Department of Vocational Rehabilitation funds, and Bureau of Indian Affairs monies. Arrangements for private financing of tuition, including third-party payment options, are available to students attending Media Institute.

WILLIAM D. FORD FEDERAL DIRECT LOAN PROGRAM

A Direct Loan is made by the U.S. Government and is administered by the U.S. Department of Education. Students eligible to borrow money from the Subsidized Direct Stafford Loan program are not charged interest while in school at least half-time, during the grace period, or during a deferment. A student can borrow up to $3,500.00 in his or her first academic year. A student can borrow up to $4,500.00 in the second academic year. A student can borrow up to $5,500 in the third and fourth academic year. Loans must be repaid.

An Independent student using an Unsubsidized Direct Stafford Loan can borrow up to $6,000.00 each academic year. A Dependent student using an Unsubsidized Direct Stafford Loan can borrow up to $2,000.00 each academic year. With an unsubsidized loan, interest is charged while a student is in school, during the grace period and during a deferment. Direct PLUS Loans are low interest loans available for parents of dependent students to help pay education expenses. Detailed information on federal student aid programs is available through the school's financial aid office. For information or assistance in applying, contact the financial aid office. Loans must be repaid.

Our Federal School Code is: 010913