Financial Aid

Scholarships | Requirements | FASFA

Student Aid

ISHC is approved by the U.S. Department of Education to participate in the following Federal Title IV programs:

Prospective students may secure an application to participate in Federal Student Aid programs from the Student Financial Aid department of the school or from a high school counselor. The school will process the application electronically. The central processor will calculate the Expected Family Contribution according to the Federal Needs Analysis. All information submitted to the central processor is subject to various edits. Students also have the option of filing the application on their own by using FAFSA on the WEB or mailing the application via regular mail.

Federal Pell Grant (FPELL)

Federal Pell grants are awarded to undergraduate students who have not earned a bachelor’s or professional degree. Because they are grants, students are not responsible for repayment. Eligibility is determined by the students need, the cost of attendance, and the amount of money appropriated by Congress to fund the program. The amount of the grant is determined by the standard formula used by the United States Department of Education. The Federal Pell Grants assists with funding post-secondary education.

Federal Family Education Loans or William D. Ford Federal Direct Loans (Subsidized and Unsubsidized)

Federal Family Education Loans or William D. Ford Federal Direct Loans are another source of Federal Student Aid. Loans may be obtained from either the Federal Family Education Loan (FFEL) funded by a lender, such as a bank, credit union or savings and loan association or the William D. Ford Federal Direct Loan Program funded by the U.S. Department of Education. Loans obtained through these programs are lower interest rate loans that are insured by guarantee agencies or the U.S. Department of Education. A student can apply for Stafford Loans through the school’s financial aid department.

Student eligibility must be determined using the results of the Free Application For Federal Student Aid and a student must be enrolled in an approved program at least half time to participate in Federal Title IV programs. The loan must be used to pay for direct and/or indirect educational expenses.

Subsidized Stafford Loans

The Subsidized Stafford Loan is one in which the interest on the amount borrowed is not charged to the borrower while in school and for six months after leaving the school but is instead paid to the lender by the U.S. Government. Students who demonstrate financial need may qualify for a Subsidized Stafford Loan.

Unsubsidized Stafford Loan

The Unsubsidized Federal Stafford Loan Program is a loan program that allows students to borrow a Federal Stafford Loan when previously they would not have been eligible because they did not demonstrate sufficient financial need for a Subsidized Stafford Loan.

The same terms and conditions as the Subsidized Federal Stafford Loan apply except that the borrower is responsible for interest that accrues while she/he is in school.

The Federal Stafford Loans have a six-month grace period from the time of graduation or the last date of attendance before repayment begins. Deferments after the student drops below half-time status are not automatic, and the student must contact the lender concerning his or her loan.

Federal PLUS Loans (Parent Loan) or Federal Direct PLUS Loans

The Federal PLUS or Federal Direct PLUS is available to parents of dependent students to help pay for educational expenses of the student. PLUS loans are not based on need and when combined with other resources, cannot exceed the student’s cost of education.

The interest rate is variable and cannot exceed 9 percent and is determined annually. Repayment begins 60 days after the loan is disbursed. Applications can be obtained from the school’s Financial Aid department or from the lender.

The school receives any Federal Direct Student Loan award in two payments: one after the student has been in attendance 30 days and the second payment after the student has successfully completed half the program. Any money due the student will be disbursed after the student’s account, including books, supplies and fees, is paid in full. Students must maintain Satisfactory Academic Progress to remain eligible for financial aid including federal loans and grant programs.

Scholarships <top of page>

Imagine America High School Scholarship Opportunity

The award-winning Imagine America Scholarship helps thousands of high school seniors each year to pursue a post-secondary career education at hundreds of career schools across the nation.

Each year, every high school in the United States can select up to three graduating seniors to receive a $1,000 Imagine America scholarship. Students must meet the standard admissions requirements of the participating career college to which they apply.

For more information or to apply please go to www.imagine-america.org

Requirements <top of page>

Financial aid is available for those that qualify.

To be eligible for financial aid, students must meet the following requirements:

Have a high school diploma or a GED.
Be a United States Citizen or eligible non-citizen.
Maintain Satisfactory Academic Progress.
Not be in default of a student loan.
Not owe a refund on a Federal PELL Grant or Federal Supplemental Educational Opportunity Grant.
Agree to use any Federal Student Aid received solely for educational purposes.
Be enrolled in at least a 600-clock hour program.
Have registered with the Selective Service, if required.

Federal Financial Aid does not automatically continue from one year to the next. Students must reapply every year.

How to Apply:

Complete the Free Application for Federal Student Aid (FAFSA) to determine eligibility.
Once eligibility and need is determined, a Student Aid Report (SAR) is issued.
Review the Student Aid Report and make any corrections or additions, as needed. More documentation may be required.
All required documentation must be in the financial aid office before money can be requested from the federal government (high school diploma, tax forms, etc.)
Students will receive a PELL Grant Award Letter notifying them when a PELL Grant disbursement has been made to their account.
Students applying for student loans will need to submit a signed and completed promissory note. Notification will be made to the student when a loan payment has been disbursed to their account.

FASFA <top of page>

Getting Started with FAFSA

Students also have the option to obtain their own PIN and file the application on their own by using FAFSA on the WEB or mailing the application via regular mail.