Applying for Financial Aid McDougle Technical Institute
School code is 042289
1. You must meet the basic eligibility requirements
- demonstrate financial need (for most programs);
- be a U.S. citizen or an eligible noncitizen;
have a valid Social Security number (with the exception of students from the Republic of the Marshall Islands, Federated States of Micronesia, or the Republic of Palau);
- be registered with Selective Service, if you’re a male (you must register between the ages of 18 and 25);
- be enrolled or accepted for enrollment as a regular student in an eligible degree or certificate program;
- be enrolled at least half-time to be eligible for Direct Loan Program funds;
- maintain satisfactory academic progress in college or career school;
- sign the certification statement on the Free Application for Federal Student Aid (FAFSA®) form stating that
- you are not in default on a federal student loan,
- you do not owe money on a federal student grant, and you will use federal student aid only for educational purposes; and show you’re qualified to obtain a college or career school education by
- having a high school diploma or a recognized equivalent such as a General Educational Development (GED) certificate;
- completing a high school education in a homeschool setting approved under state law (or—if state law does not require a homeschooled student to obtain a completion credential—completing a high school education in a homeschool setting that qualifies as an exemption from compulsory attendance requirements under state law); or enrolling in an eligible career pathway program and meeting the “ATB.
3. Determine Dependency Status
An independent student is one of the following: at least 24 years old, married, a graduate or professional student, a veteran, a member of the armed forces, an orphan, a ward of the court, someone with legal dependents other than a spouse, an emancipated minor or someone who is homeless or at risk of becoming homeless.
Your dependency status determines whose information you must report on the Free Application for Federal Student Aid (FAFSA®) form.
- If you’re a dependent student, you will report your and your parents’ information.
- If you’re an independent student, you will report your own information (and, if you’re married, your spouse’s).
The federal student aid programs are based on the concept that it is primarily your and your family’s responsibility to pay for your education. A dependent student is assumed to have the support of parents, so the parents’ information has to be assessed along with the student’s, in order to get a full picture of the family’s financial strength. If you’re a dependent student, it doesn’t mean your parents are required to pay anything toward your education; this is just a way of looking at everyone in a consistent manner.
MTI Institutional Loans
McDougle Technical Institute offers tuition payment plans (a monthly interest-free payment toward tuition). This type of plan may help reduce the amount you need to take out in loans.
When available, McDougle Technical Institute offers grants and scholarships to those who qualify. The amount awarded is often based on merit and need once all other Financial Aid options have been exhausted.
All institutional scholarship/grant recipients must complete the Free Application for Federal Student Aid (FAFSA). International students are excluded. Some scholarship awards can reduce the amount of financial aid you receive. Should you receive other scholarship awards; the institute will adjust the institutional award first.
Grant-In-Aid (GIA) awards are available to students with exceptional skills in the programs offered at McDougle Technical Institute. The student must meet the requirements of each of the programs to be qualified. Grant-In-Aid (GIA) may be combined with other scholarships after all federal and state aid has been applied. GIA and other MTI scholarship awards cannot exceed charges for MTI tuition and fees, minus student financial aid awards (no$t including student loans). The intent of the Grant-In-Aid award is to provide students with gap funding to meet their unmet direct education expenses. It is not intended to yield a credit balance and generate a refund check.
Federal Scholarships and grants
Make sure you understand the conditions you must meet to stay eligible for the scholarship or grant. For instance, you will have to maintain a certain grade-point average and attendance percentage to continue receiving grants and scholarship.
Federal Student loans
You’ll have to repay the money with interest. Subsidized loans don’t generally start accruing (accumulating) interest until you leave school (or drop below half-time enrollment), so accept a subsidized loan before an unsubsidized loan. Next, accept an unsubsidized loan before a PLUS loan.
By signing the promissory note, you are promising to repay your student loan. The financial aid office will guide you through the paperwork or direct you to the online Master Promissory Note if appropriate.
*If you take out a loan from the Direct Loan Program, the U.S. Department of Education will be your lender.
Parent Direct PLUS Loans
Before you can apply for a Parent Direct PLUS Loan, you must follow the steps below to apply
- Complete and submit the Free Application for Federal Student Aid (FAFSA®) form.
- Complete the Consent to Obtain Credit Report form
- If you qualify, figure our how much you need to borrow.
- Use the online application to apply for a Parent PLUS loan.
- Sign a PLUS Master Promissory Note.
Learn more about parent PLUS loans.
To receive a parent PLUS loan, you must:
- Be the biological or adoptive parent (or in some cases, the stepparent) of a dependent undergraduate student enrolled at least half-time at an eligible school;
- Not have an adverse credit history (unless you meet certain additional requirements).
- Meet the general eligibility requirements for federal student aid. (Your child must also meet these requirements.)
Note: Grandparents (unless they have legally adopted the dependent student) and legal guardians are not eligible to receive parent PLUS loans, even if they have had primary responsibility for raising the student.
If you are a parent borrower, the Direct PLUS Loan Request also allows you to:
- Designate whether the school pays any credit balance to the student or to you.
- Request a deferment while the student is in school.
- Request an additional deferment for 6 months after the students leaves school.