Types of Financial Aid
Financial Aid Philosophy: A successful financial aid package is a cooperative effort between the student and the institution that not only meets the student’s educational needs but also fosters an environment from which the student can effectively manage any debt that may be incurred during the course of their education.
MT Training Center offers a variety of financial aid options for the prospective student:
- Federal Pell Grants – A Federal Pell Grant, unlike a loan, does not have to be repaid. Federal Pell Grants usually are awarded only to undergraduate students who have not earned a bachelor’s or a professional degree.
- Direct Subsidized Loans – Loans made to eligible undergraduate students who demonstrate financial need to help cover the costs of higher education at a college or career school.
Direct Unsubsidized Loans – Loans made to eligible undergraduate, graduate, and professional students, but in this case, the student does not have to demonstrate financial need to be eligible for the loan.
Direct PLUS Loans – Loans made to graduate or professional students and parents of dependent undergraduate students to help pay for education expenses not covered by other financial aid.
Direct Consolidation Loans – allow you to combine all of your eligible federal student loans into a single loan with a single loan servicer.
- Veteran’s Affairs (VA) (GI Bill® for eligible students) – The Department of Veteran Affairs (VA) provides financial support for education and housing to individuals who qualify for training. Please visit the United States Veteran Affairs website for additional information: https://benefits.va.gov/gibill/
- Workforce Investment Act (WIA) – The Workforce Investment Act of 1998 (WIA) combines federally funded job training programs in Texas into a “workforce development” system that was developed to consolidate, coordinate, and improve employment, training, literacy and vocational rehabilitation programs. Services are provided through the state’s “one-stop” system of workforce investment and educational services for adults, dislocated workers, and youth. WIOA grants are provided to eligible prospective students through Workforce Solutions and WFS deems an individual eligible. To find a local Workforce Center in your geographic area click the following link: http://www.twc.state.tx.us/dirs/wdas/directory-offices-services.html
- Department of Assistive and Rehabilitative Services (DARS) – Offers programs that strive to assist people with disabilities and helps them prepare, find and retain employment. For additional information on the services that DARS offers along with educational training please contact them directly at: http://www.dars.state.tx.us/
- TFC Loan – TFC is the national leader in private financing plans for education. For prospective students that do not qualify for Federal Student Aid, WIA or DARS, the MT Training Center offers flexible payment plans through TFC Loan. No credit check and no interest.
Source: www.direct.ed.gov/calc.html
GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs (VA).
MT Training Center School Code: 042264