Financial Aid - How To Apply
Let us assist you in receiving the resources necessary to reach your educational goals.
As previously mentioned here on the website, ATI College was granted institutional approval by the state of California, Bureau for Private Post Secondary Education
(BPPE) in 1998.
The college is also accredited by a nationally recognized accrediting agency, the Accrediting Commission of Career Schools and Colleges
This approval and accreditation are required for the college to be eligible to participate in and receive federal Title IV funds (financial aid).
Federal Title IV Programs ATI College Participates In
Federal Title IV funds, or financial aid, are a combination of grants and loans. Grants are free money and do not have to be repaid, whereas loans are borrowed money and must be paid back. ATI College participates in and receives funding from the following federal Title IV programs:
Federal PELL Grant
The Federal PELL Grant is a need based grant that does not have to be repaid. It is available to students who exhibit financial need. Financial need is determined by your income and asset information.
FSEOG (Federal Supplemental Educational Opportunity Grant)
The Federal Supplemental Educational Opportunity Grant is also a need based grant that does not have to be repaid. It is available to students who exhibit exceptional financial need. To be eligible for an SEOG grant, you must first be eligible to receive a PELL grant.
Federal Direct Subsidized Stafford Loan
The Federal Direct Subsidized Stafford loan is a low interest rate loan (6.0% fixed), awarded on the basis of financial need. As a result, no interest is charged as long as the student is attending school on at least a half-time basis, or during their six month grace period after they stop attending at least half-time, withdraw, or graduate. The loan goes into repayment six (6) months after the student has stopped attending at least half-time, withdraws or graduates.
Beginning July 1, 2009, the interest rate for the Federal Direct Subsidized Stafford loan will be decreased as follows:
- July 1, 2009 - 6.0%
- July 1, 2010 - 5.6%
- July 1, 2011 - 4.5%
- July 1, 2012 - 3.4%
The financial aid year is from July 1 to June 30 of the next year, so your loan will have a fixed lifetime interest rate based on the above information depending on when you borrow it.
Federal Direct Unsubsidized Stafford Loan
The Federal Direct Unsubsidized Stafford loan is a low interest rate loan (6.8% fixed), awarded regardless of need. In other words, regardless of income, if all other eligibility requirements are met, the student is eligible. As a result, interest is charged from the time the loan is disbursed (paid to the school or student) until it is paid in full. This includes the time the student is attending school, as well as during the six month grace period after they stop attending at least half-time, withdraw, or graduate. Students have the option of paying the interest while they are attending school and during the six month grace period, or allow it to be added to the principle loan amount (this is called capitalization). Here at ATI College we highly encourage our students to pay their accruing interest so they do not end up paying interest on top of interest, which is what happens when the loan is capitalized. The loan goes into repayment six (6) months after the student has stopped attending at least half-time, withdraws or graduates.
Federal Direct PLUS (Parent Loan for Undergraduate Students)
The Federal Direct PLUS is available to the credit worthy parent(s) of dependent undergraduate students. This is a low interest rate loan (7.9% fixed), awarded regardless of financial need, but the parent(s) must have a reasonably good credit history and the student must be enrolled on at least a half-time basis. The loan goes into repayment sixty (60) days after the full amount of the loan has been disbursed (paid to the school or student). This means payments begin on principle and interest while the student is still attending school. In some cases, the parent may defer payment for up to six (6) months after the student stops attending at least half-time, withdraws or graduates. You can find out more information regarding this by accessing the referenced websites below.
The standard repayment period for all of the loans is ten (10) years and can be, under certain circumstances, extended to twenty-five (25) years. Please keep in mind, the longer you take to pay off your loan, the more interest you will incur. In addition, if you would like to pay off your loan early, there is no pre-payment penalty.
Student and Parent Eligibility Requirements
These federal monies are available to all students that qualify. To qualify you must be a U.S. citizen or eligible non-citizen and not be in default on a prior federal loan, or owe a refund on a prior federal grant. Please keep in mind if you meet these qualifications, income does not disqualify you from eligibility. Anyone who meets these qualifications is eligible to receive Title IV funds. Your income and asset information will determine whether you will receive need based or non-need based aid.
Download PLUS Pre-Screen Application Form
The first step you must take to determine your financial aid eligibility is to complete the FAFSA (Free Application for Federal Student Aid). You have a choice to either do this online at the following website: Click here to Apply; our school code is 037404; or you may bring in your income and asset information as required (usually your Federal income tax return) and work with one of our Financial Aid Officers who will be glad to assist you.
If you worked in 2010, you will need to bring in your 2010 Federal income tax return (such as 1040 form). If you worked but didn’t file an income tax return, you will need to bring in your W-2(s) which show the wages you earned in 2010. If you did not work in 2010, you must bring in documentation of the income you received, such as AFDC (welfare), general relief, unemployment, disability, social security, child support, etc. Documentation of these amounts can be obtained from the agency that awarded you the money.
If you are considered dependent under federal financial aid regulations (if you answer “No”, to the question, “Were you born before January 1, 1988”), in most cases you will be considered dependent and you will also need to bring in your parent(s) 2010 Federal income tax return. If your parent(s) worked in 2010 but did not file an income tax return, you must bring in their W-2(s) which show the wages they earned in 2010. If your parent(s) did not work in 2010, they must bring in documentation of the income they received, such as AFDC (welfare), general relief, unemployment, disability, social security, child support, etc. Documentation of these amounts can be obtained from the agency that awarded them the money, or in the case of child support, from the court(s).
In addition, for dependent students, please print out, have your parent complete and bring to your appointment, the PLUS Pre-Screen Application form which needs to be completed to determine your parent(s) borrowing eligibility, which will then determine your borrowing eligibility.
If at all possible, please have your parent(s) accompany you. This way the process can be completed. If not, the FAFSA will be printed out for you to take home for your parent(s) to answer questions and supply their signature. It must then be returned before your financial aid eligibility can be determined.
Once your eligibility has been determined, our Financial Aid Officer will design the financial aid package that is best for you with the grants and/or loans you qualify for.
Contact us today to find out if you qualify for Financial Aid.