Financial Aid

Pivot Point is approved by the United States Department of Education to offer the following federal financial assistance programs whereby an eligible student is awarded an outright grant or loan for post-secondary education. To be eligible to receive financial aid, a student must be enrolled as a regular student on at least a half-time basis.

Federal PELL Grant
Federal Supplemental Educational Opportunity Grant (FSEOG)
Federal Family Education Loan Programs (Stafford and PLUS

Financial Aid at Pivot Point International

The student financial aid programs at Pivot Point International are designed to aid students who would find it difficult to attend without financial assistance.

Pivot Point offers the following sources of financial aid:

Scholarships
Alternative Financing - Sallie Loans
Grants
Loans

Eligibility Requirements:

Have financial need

Have a High School Diploma or a General Education Diploma (GED), or ATB

Be enrolled or accepted for enrollment as a regular student working toward a certificate in an eligible program

Be a U.S. citizen or eligible non-citizen

Have a valid Social Security Number

Make satisfactory academic progress

Register with Selective Service

Sign a Statement of Educational Purpose and a Certification Statement on overpayment and default

Basics of Determining Financial Aid

The basis of determining a student’s financial need will be an analysis of the financial status of the student’s and/or the parents’ income. This analysis is accomplished by completing a Free Application for Federal Student Aid (FAFSA) distributed by the U.S. Department of Education.

These forms are available:

In High School Guidance Counselor’s Office
In Financial Aid Office at Pivot Point International
Via U.S. Department of Education’s web site:
FAFSA on the Web www.fafsa.ed.gov

Financial need is based on:

Cost of Attendance
Expected Family Contribution
Financial Need

Types of Student Aid

FEDERAL PELL GRANT

A Federal Pell Grant, unlike a loan, does not have to be repaid. Generally, Pell Grants are awarded only to undergraduate students who have not earned a bachelor’s or professional degree. For many students, Pell Grants provide a foundation of financial aid to which other aid may be added.

FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT

A Federal Supplemental Educational Opportunity Grant is for undergraduates with exceptional financial need – that is, students with the lowest Expected Family Contributions (EFCs) - and gives priority to students who qualify for Federal Pell Grants. An FSEOG does not have to be repaid.

FEDERAL FAMILY EDUCATION LOAN PROGRAM

Stafford Loans are the Department of Education’s major form of self-help aid for students. Under the FFEL program, the funds for your loan are lent to you from a private lender (a bank, credit union, or other lender that participates in the FFEL program).

Types of FFELP Stafford Loans available are

Subsidized Stafford Loan

A subsidized loan is awarded on the basis of financial need. You will not be charged interest before you begin repayment or during authorized periods of deferment. The federal government “subsidizes” the interest during these periods.

Unsubsidized Stafford Loan

An unsubsidized loan is not awarded on the basis of need. You will be charged interest from the time the loan is disbursed until it is paid in full. If you allow the interest to accumulate, it will be capitalized – that is, the interest will be added to the principal amount of your loan and additional interest will be based upon the higher amount.

Students are encouraged to apply for one type or a combination of the types of financial aid available.

More Financial Aid Websites!

Dept. of Education - The Student Guide - federal financial aid information

The Smart Student Guide to Financial Aid - Scholarship search and financial aid information

The Illinois Student Assistance Commission (ISAC) - State grant, scholarship and FFELP website

PIN Registration - Apply for a U.S. Dept. of Education PIN number

School Codes - Look up Title IV school codes for FAFSA

SFA Ombudsman - Resolve loan disputes and problems

MAPPING YOUR FUTURE

One-stop site for financial aid, career and college planning information

Complete online Stafford loan entrance counseling

Complete online Stafford loan exit counseling

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