The curricula offered at Morrison Institute of Technology have been accredited by a nationally recognized accrediting agency, and qualified students, therefore, may take advantage of a number of federally funded student financial aid programs.
1. Federal Pell Grant is the base of the financial aid package. All applicants asking for financial assistance must first apply for the Pell Grant. The Free Application for Federal Student Aid (FAFSA) will be available at high schools or colleges shortly after the first of each year. Students should submit an application as early as possible. All correspondence should be mailed to the Financial Aid Office as soon as possible.
2. The Illinois Student Assistance Commission Monetary Award Program Grant may be made available to the students who demonstrate financial need and are residents of Illinois, to assist with the cost of college tuition. The formula used in determining “financial need”, upon which the ISAC awards are calculated, encourages participation by applicants who do not qualify for the Pell Grant. The Free Application for Federal Student Aid will be used as a basis for determining any ISAC award.
3. Federal Supplemental Educational Opportunity Grant (FSEOG) is a campus-based grant made available to students with exceptional financial need. Only Pell eligible students with low family contributions will be considered.
4. Federal College Work-Study (FCWS) is designed to help defray indirect educational college expenses. Students must first apply for financial aid to demonstrate financial need. A limited number of jobs are available on campus. Jobs will be assigned on a first come, first serve basis, and demonstrated need.
OTHER GRANT PROGRAMS
1. Tutorial and Lab Supervisors are campus-based jobs available to students who show leadership and excel in their classes. These positions are chosen by the instructors and are not necessarily based on financial need.
2. Department of Rehabilitation Services is an excellent source of assistance to anyone with a medical or physical disability. Contact your local DORS office, a high school counselor, or the Financial Aid Office.
3. Workforce Investment Act (Formerly Job Training Partnership Act) helps the unemployed or underemployed persons, or members of their family, through participation in the Classroom Training Program. Applicants should contact their local State Employment Office. Once eligibility has been established, applicants may request referral to Morrison Institute of Technology.
4. Veterans Educational Program qualifiers should contact their local veterans administration representative, state veterans representative, or the Financial Aid Office for information and application for these benefits.
Morrison Institute of Technology has available a limited number of scholarships for students now attending high school, or the associated area vocational technical school, who wish to pursue engineering technology studies at Morrison Institute of Technology. These scholarships are independent of, and in addition to any other financial aid a student may obtain.
There are three areas in which a student can qualify for a Morrison Institute of Technology sponsored scholarship.
1. Morrison Institute of Technology Academic Scholarships:
Achieve an overall grade point average of 3.25 (A=4.0) in high school, or equivalent educational institution, in the seven semesters prior to the student’s date of application, and a recommendation by the student’s counselor.
2. Morrison Institute of Technology Performance Scholarships:
Achieve an overall grade point average of 2.65 in high school, or equivalent educational institution, in the seven semesters prior to the student’s date of application, along with significant achievement in technology related studies. This includes any one of the following:
(a) attaining a 3.5 or higher in drafting, industrial arts, math and science, or technology related studies during the four semesters prior to the date of application;
(b) qualifying in the Illinois Drafting Education Association (IDEA) competition, or
(c) qualifying and placing at Vocational and Industrial Clubs of America (VICA) state and regional contests.
Additionally, it is required that the student obtain the recommendation of the school’s counselor, or relevant instructor in drafting, industrial arts, math and science, or technology studies.
3. Morrison Institute of Technology Family Scholarships:
Scholarships are provided to dependent or independent students whose family member(s) have graduated from Morrison Institute of Technology.
1. Subsidized Federal Direct Loan Program (student loan) is based on financial need. The federal government pays the interest on the student’s behalf while the student is in school, during the grace period, and during authorized deferment periods under the subsidized loans.
2. Unsubsidized Federal Direct Loan Program (student loan) is not based on financial need, and can be used to replace the Expected Family Contribution. The student who borrows an unsubsidized loan is always responsible for paying the interest; interest accrual begins on the date of disbursement. The student has the option to pay this interest during the in-school and grace periods or it may accrue and be added to the principal balance of the loan (capitalized).
3. Federal Direct Parent Loan are loans that enable parents with good credit histories, to help pay for their dependent undergraduate student’s education. An eligible parent may borrow an amount equal to the student’s cost of attendance, minus any other financial aid which may be awarded.
FREE ON-LINE STUDENT AID APPLICATION
All prospective students are encouraged to complete the Free Application for Federal Student Aid (FAFSA). Paper applications may be obtained from student’s high school, the college Financial Aid Office, or by applying on the Internet at http://www.fafsa.ed.gov. Without a copy of your, your parent(s) and/or spouse’s (if applicable) IRS tax returns and information concerning personal assets, the college has no basis for determining need for financial assistance. The financial aid process takes approximately one month so those students counting on financial assistance must submit applications early.
NET PRICE CALCULATOR
Planning and financing your college education is as easy as 1-2-3. Below is the online Net Price Calculator to assist you with calculating your “estimated” educational cost. Please be advised that the calculator is for estimating purposes only and shall not be binding on Morrison Institute of Technology. Final eligibility for aid is subject to student completing the FAFSA, meeting eligibility, meeting priority deadline, and availability of funds. For more information on applying for Federal student aid, go to http://www.fafsa.ed.gov. Let us show you how affordable your college education can be at Morrison Institute of Technology. Below is the online Net Price Calculator to assist you with calculating your “estimated” educational cost. Please be advised that the calculator is for estimating purposes only and shall not be binding on Morrison Institute of Technology. Final eligibility for aid is subject to student completing the FAFSA, meeting eligibility, meeting priority deadline, and availability of funds. For more information on applying for Federal student aid, go to http://www.fafsa.ed.gov.
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