Financial Aid Policy

FTC CELEBRATES WITH ITS STUDENTS CONSTITUTION DAY ON SEPTEMBER 17

Financial Aid Policy

Franklin Technology Center is an approved institution in disbursement of Title IV funds. A financial aid officer and loan counselor are available to assist students in applying for financial aid to meet the costs of their training program.

To be eligible for student aid, a student must meet certain requirements, he/she must:

  1. be a US citizen or eligible non-citizen
  2. be registered with Selective Service (if required)
  3. attend college that participates in the following program: Federal Pell Grants, Federal Subsidized and Unsubsidized Stafford Loans, Title VII and Public Health Act Programs
  4. be working toward a degree or certificate
  5. be making satisfactory academic progress
  6. not owe a refund on a federal grant or be in default on a federal educational loan
  7. have “financial need” as determined by the US Department of Education

It is very important that all students understand the policies and procedures of financial aid at Franklin Technology Center. The administration of financial aid is extremely complex because of all the federal, state, and local agencies that provide and regulate these resources. As a consumer of educational services and programs, you should fully understand the financial assistance to which you are entitled as a student of FTC. The forms you are asked to complete are absolutely necessary. All forms should be completed accurately and honestly. Information given is held in strict confidence. If you have questions or need any information not found in this publication, please call or visit the Financial Aid Office at the MSSU Campus. For more information regarding financial aid, refer to SFA Manual located in the Financial Aid Office.

Financial Aid Procedures Summary

A summary of FTC financial aid disbursement procedures are that the student must:

  1. File a FAFSA (Free Application for Federal Student Aid) to determine eligibility on the website www.fafsa.gov
  2. Review the Student Aid Report and report any corrections to provide accurate information to the federal government.
  3. Provide documentation as requested by the Financial Aid Officer. Without all required paperwork, UNOU awards will be processed.
  4. Return an award letter accepting the financial aid awards
  5. Maintain satisfactory academic progress (at least a “C” average as defined by their program and 90% attendance)

After all the required paperwork is in the student file and satisfactory academic progress (SAP) is documented by the program coordinator, Pell and Loan monies will be ordered by the Financial Aid Officer. Once the Pell and Loan funds are deposited into the financial aid account it may take the Bookkeeper 2-3 business days to obtain the necessary signatures from the Joplin R-8 administration staff if a credit balance is due to the student. All financial aid, regardless of source, is applied to the student’s account balance. A student’s account must be paid in full before any money is refunded to the student. The Bookkeeper will contact the student when financial aid funds are received.

Eligibility of Financial Aid

During the academic year in which you receive aid, your eligibility is governed by whether you are full-time. If you are not a full-time student, you will not be eligible for the maximum awards for financial aid. You must be enrolled full-time in order to be considered for any financial aid.

Types of Financial Aid

Franklin Technology Center offers three basic categories of financial aid: grants, loans, and scholarships.

  1. Grants are awards based on financial need and do not require repayment.
  2. Loans are monetary awards that must be repaid after the student ceases to be enrolled at Franklin Technology Center.
  3. Scholarships are awards based on academic achievement and/or financial need and most do not require repayment.

Student Rights & Responsibilities

Student Rights

You have a right to know:

  1. What financial aid programs are available at FTC
  2. The deadlines for submitting applications for the programs available
  3. How your financial need was determined. This includes costs for tuition, housing, transportation, books & supplies, & misc. expenses.
  4. How FTC’s refund and repayment policies work
  5. How the Financial Aid Office determines whether you are making satisfactory academic progress and what happens if you are not in compliance

 

Student Responsibilities

  1. Complete all applications accurately and submit them on time to the Franklin Technology
  2. Provide correct information. Reporting incorrect information on financial aid application forms is a violation of the law and may be considered a criminal offense, which could result in indictment under the US Criminal Code.
  3. Return all documentation, verification, and/or corrections requested by FTC within the
  4. given time frame
  5. Be responsible for reading and understanding all forms that you sign and for record keeping of all financial aid correspondence
  6. Make satisfactory academic progress in your program
  7. Notify the Financial Aid & Business Office of any change in name, address or phone
Franklin Technology Center