Professional Skills Institute

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PSI's school code is 016568.

Professional Skills Institute is authorized by the Department of Education to participate in Title IV funding for those students who qualify. In order to apply for Title IV funds, a student must complete the Free Application for Federal Student Aid (FAFSA) for that particular award year.

Types of Federal Title IV Aid

Federal Pell Grant:

The amount of award ranges from $609 to $5350 from July 1, 2009 to June 30, 2010 depending upon eligibility. Note: Individuals who have obtained a bachelor degree or higher are not eligible to participate in the Federal Pell Grant Program according to Federal guidelines.

Academic Competiveness Grant:

Students must be a federal pell grant recipient and have completed a rigorous secondary school program of study (after January 1, 2006 if a first- year student, and after January 1, 2005 if a second-year student). Students must also maintain a 3.0 GPA or higher to be eligible for the second year award. Award amounts are $750 for the first academic year and $1,300 for the second academic year.

Federal Stafford Loan:

Stafford loans are financial aid that requires repayment. Students must be enrolled a minimum of six credit hours and repayment of the loan generally begins within six months after you graduate or are no longer enrolled as a half time student.

There are two types of Stafford loans:

Subsidized Stafford Loan: A need based loan on which the government pays the interest while the student is enrolled in school at least half time.

Unsubsidized Stafford Loan: No financial need is required to be eligible for the unsubsidized loan. A student’s total financial aid package though, including the unsubsidized loan cannot exceed the cost of education. Interest does accrue while the student is in school.

Loan Limits:
Dependent Students:	Up to $5,500 for first year (up to $3,500 may be subsidized)
	Up to $6,500 for second year (up to $4,500 may be subsidized)
Independent Students:	Up to $9,500 for first year (up to $3,500 may be subsidized)
	Up to $10,500 for second year (up to $4,500 may be subsidized)

Interest Rate:
For loans first disbursed between July 1, 2009 and June 30, 2010:
Subsidized Stafford Loan:	5.6% fixed rate
Unsubsidized Stafford Loan:	6.8% fixed rate

Federal Parent PLUS Loan:

A low interest loan applied for by parents to pay for the student’s educational expenses. The student must be enrolled a minimum of half time and the applicant’s credit history will be reviewed to determine eligibility for the loan.

Non-Title IV Financial Aid

Bureau of Vocational Rehabilitation (BVR):

This organization may provide funding for students who have a physical or mental disability that inhibits them from certain types of work. BVR can be reached at 419-866-5811.

Workforce Investment Act (WIA):

WIA may provide funding through Title III programs. They are usually for students who are permanently laid off from work due to plant closings or cutbacks (dislocated workers) or low-income students eligible for training funds through WIA. Interested students should check with the WIA office at their county Department of Jobs and Family services.

Veteran Benefits:

Veterans attending PSI may be eligible to receive benefits through the Veterans Administration (VA). Each VA program has individual requirements for eligibility. Interested candidates can contact the VA at (800) 827-1000.

Ohio National Guard:

Students who are enlisted in the Ohio National Guard may be eligible to receive a grant to pay for a percentage of their tuition. Interested students should contact their local guard unit for details and an application.

Self Pay:

Monthly or quarterly payment arrangements can be made with the Financial Aid Office. Payments may be spread over the period of time that the student is in school.