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• MODERN TECHNOLOGY SCHOOL SCHOOL CATALOG • FINANCIAL AID CONSUMER INFORMATION Financial Aid is the money you receive from a variety of sources to help cover the total cost of education. Regardless of income, most people are eligible for some kind of financial aid. This can include: • Grants or campus based programs; sometimes called free money or gift aid, or • Loans, including Federal Stafford loans for students or Federal PLUS loans for parents and alternative loans. Specific written information as provided under Title IV of the Higher Education Act and its amendments is available free of charge to interested parties from our Financial Aid Office. Anyone desiring further information regarding our financial aid programs, policies and procedures may contact the Financial Aid Director during business hours and request our financial aid assistance information pamphlet and Free Application for Federal Student Aid - FAFSA forms. Recipients of financial aid are subject to all terms and conditions of federal regulations for eligibility, enrollment, disbursement, and continued satisfactory progress. Therefore, financial aid programs under Title IV are awarded based on need as determined by the applicable program regulations to the extent that funds are available to the school or to the student directly. In addition to the Federal Pell Grant application, the school requires verification of income and assets of the applicant, spouse and parents, if applicable, for the base year and academic year and/or award year prior to the determination of the applicant's eligibility status and amount of aid forwhich the student is eligible. All applicants who are awarded Title IV funds will be given a formal letter regarding the amount, the program, and the conditions of the estimated aid awarded. The written estimated offer must also be accepted in writing by the student prior to any aid being disbursed. The financial aid paid to eligible students will be paid on a voucher system. The disbursements will be made in a minimum of two equal installments: one at the beginning of the program, and the second at the completion of the program's mid -point. Modern Technology School does disburse Title IV aid for living expenses to eligible students. Eligibility funding will be applied to the extent of the program cost. Excess Title IV funds, if any, for those who did not apply for living expenses, have been applied to a student's account that exceed the school costs will immediately be notified to the student. The student can then make a decision within 14 days if he/she wishes to have the excess amount or can choose to return to the lender to reduce indebtedness of student loan. To those student that were dropped, terminated or withdrew, all excess funds that have been applied to a student's account will be refunded or returned to the lender/holder of the funds accordingly. Satisfactory academic progress is required for all disbursements of Title IV program awards. For the purpose of financial aid disbursements, satisfactory progress must be maintained. If the student does not maintain satisfactory academic progress, the subsequent scheduled disbursements will be withheld until the conditions causing the funds to be withheld have been rectified and written verification is received by the Financial Aid Director based on established policy of the Campus Director, the Program Director and Instructors involved in classes in which the Published January 1, 2020/ Effective through December 31, 2020 ' All Rights Reserved 6 Visit us at Www.mtsehool.edn