Advanced Welding Institute assist students and parents to understand the financial aid process, opportunities, federal aid, grants, student loans, and scholarships, and other types of aid. Financial aid assistance is an essential tool that help students and their parents to pay for educational expenses. Financial Aid is available for those who qualify.
Types of financial aid
Grants: available through various sources: federal, state, non-profit organizations, and other entities. This type of aid is classified as gift-aid and does not require repayment. The requirement for a grant is primarily need-based.
For applicant/students interested in obtaining Federal Student Aid, please complete the following steps:
- Complete the Free Application for Federal Student Aid (FAFSA) at https://studentaid.gov/h/apply-for-aid/fafsa;
- Be sure to apply for an FSA ID. This is how you will electronically sign your application. If you are considered a dependent (see dependency status worksheet at the FAFSA site), one parent will also be required to apply for an FSA ID and to sign the application.
- All applicants must select Vermont as the state of the school.
- Include our school code #041469 on the application. This will allow the financial aid office to determine your eligibility for the Federal Pell Grant and Federal Direct Loans (Subsidized and Unsubsidized) upon receipt of your application.
Scholarships: similar to grants, scholarships are available through various sources such as non-profit organizations, county, state, and other sources. This type of aid is classified as gift-aid and does not require repayment. The requirements for a scholarship are primarily merit-based or need-based.
Loans: students (and parents) have available federal loans (VT & WI) and private loans (only in Vermont). This type of aid assist students with their financial responsibility with the school and their educational expenses. Loans requires repayment.
- Federal Direct Loans – Students: there are two types of loans, subsidized and unsubsidized loans. The subsidized loan does not accrue interest while you are attending school or during the grace period. The unsubsidized loan Unsubsidized loans start accruing interest once the loan has disbursed, also, accrues interest during the grace period. Both loans, subsidized and unsubsidized, have an origination fee, after the origination fee is taken, the government sends the net amount to the school as a payment. The grace period is a period of 6-months that the student is not required to make any repayments. Upon the end of the grace period, students are responsible to make repayments to the loan lender. For more information, please visit https://studentaid.gov/understand-aid/types/loans/subsidized-unsubsidized;
- Federal Parent PLUS Loan – Parents: this type of federal loan is for parents who wish to assist their child with their educational expenses. The Parent PLUS Loan have an origination fee, after the origination fee is taken, the government sends the net amount to the school as a payment. For more information, please visit https://studentaid.gov/understand-aid/types/loans/plus/parent;
- Private loans: this type of loans is not considered or classified as federal aid. The private loans are designed to offer an additional financial aid source for those students (and parents) that need assistance with educational expenses that is not covered by other types of aid, such as grants, scholarships, or federal loans.
For more information about financial aid services, please contact us and we will assist through this process that it is an important piece for your education goals.
