Financial Aid Options

FEDERAL PELL GRANT PROGRAM

The Federal Pell Grant program provides funding toward tuition, fees and other costs for students whose income is below levels set by the U.S. Congress. Pell grants do not have to be repaid. If eligibility is established, the amount of the grant will depend on income reported in the prior tax year, dependent or independent status, cost of attendance and other factors. 2014-2015 grants range between $675 and $5,730. The Financial Aid Office can provide an estimate of grant awards based upon the information submitted on the FAFSA.

FEDERAL DIRECT LOANS

Federal Direct Loans are low-interest loans made to students attending school at least half-time. Direct Loans, unlike grants, are borrowed money that must be repaid, with interest, and payments normally begin six months after leaving school. The amount of each payment depends n the size of the debt and the ability to pay.

Students can qualify for a Direct Loan based upon financial need as determined by the FAFSA. The need-based loan (known as “subsidized”) offers in-school interest subsidies by the federal government. In addition, students may qualify for non-need-based Direct loans (known as “unsubsidized”). These loans do not offer interest subsidies. It is possible for students to have both subsidized and unsubsidized Direct loans.

Loan Limits: Independent undergraduate students (and dependent students whose parents are unable to obtain a PLUS loan) (see Federal Financial Aid Program section) can borrow up to $3,500 in subsidized, and up to $6,000 in unsubsidized, loans in the first academic year.

Dependent undergraduate students can borrow up to $3,500 subsidized, and up to $2,000 unsubsidized, in the first academic year.

Repayment of subsidized loans begins six months after ceasing enrollment. Repayment on unsubsidized loans, including interest, is the same, but interest begins accruing at time of first disbursement.

All borrowers are required to participate in an Entrance and Exit Interview to ensure a full understanding of their rights and responsibilities. Please note: Students may be required to participate in additional Financial Literacy workshops and activities.

FEDERAL DIRECT PARENT LOANS FOR UNDERGRADUATE STUDENTS (PLUS)

Federal Direct PLUS Loans are for parents who want to borrow to help pay for a child’s education. These loans enable parents with good credit history to borrow for each dependent. Unlike other financial aid programs, a family financial analysis is not required to be eligible for a Direct PLUS Loan. PLUS Loans must be repaid. Repayment generally begins 60 days after the loan is fully disbursed.

The following web sites contain further information about federal student financial aid programs:

To reach the Federal Student Loan Ombudsman’s Office:
Via e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Via telephone: Toll free: 877.557.2575; 202.377.3800
Via fax: 202.275.0549
Via mail:
U.S. Department of Education FSA Ombudsman,
830 First Street, N.E.
Washington, DC 20202-5144

State Financial Aid Programs

NEW YORK STATE TUITION ASSISTANCE PROGRAM (TAP)

Swedish Institute participates in the New York State Tuition Assistance Program (TAP) coordinated by the New York State Higher Education Services Corporation (HESC). TAP grants are income-based and the amount of the grant is determined by income level, dependent or independent status and other factors. They do not have to be repaid. Information about applying for TAP is available in the Financial Aid Office.

The TAP program is only available to students carrying a full-time course load and continuing eligibility requires that a student maintain satisfactory academic progress.

Other New York State Programs

NEW YORK STATE AID FOR PART TIME STUDY (APTS)

These funds are limited, and are awarded based on NYS net taxable income, academic performance, availability of funds, and number of credits. The maximum award is $1,000 and students must be enrolled for at least 3 but less than 12 credits per term.

Students should apply at least one month prior to the start of classes for APTS. The application can be found in the Financial Aid Office. Students must submit this application as well as their NYS taxes to Student Financial office. No funds will be awarded later than 30 days after the last day of drop/add registration.

Swedish Institute participates in various scholarship and workforce training grant programs including the New York State Regents Professional Scholarship and grants sponsored by New York State Commission for the Blind and Visually Handicapped and the New York State Office of Adult Career and Continuing Education Services (ACCES). Information about these programs is available at the Financial Aid Office.

Financial Aid

Swedish Institute participates in Title IV Federal Student Financial Assistance programs. Students who are U.S. citizens or permanent residents may qualify for one or more financial assistance programs. To apply for financial aid, students must complete the “Free Application for Federal Student Aid” (FAFSA). To access the site, students must acquire a pin number from Federal Student Aid PIN website in order to sign the FAFSA electronically. Swedish Institute’s Federal School Code, needed to complete the FAFSA, is 016904.

Meet the Team

Stephanie Pierre
Financial Aid Representative

Carlos Sandoval
Financial Aid Representative

Joanna Ojada
Financial Aid Representative

Scholarships

Overview:

The Swedish Institute maintains a scholarship fund to reward past, and encourage future, academic excellence in our students by providing a $500-$1,000 scholarship, renewable in the succeeding academic year, to help defray tuition, books, fees, supplies and equipment required for programs at the Institute. Maximum total award for any one scholarship will be $2,000.

Currently, all but one – the President’s Scholarship - honors individuals who are no longer with us and who made outstanding contributions to the development of the institution or whose lives exemplified the ideals of education in today’s world. Following is a description of these scholarships.

Institutional:

Patricia J. Eckardt Scholarship – This scholarship honors the memory of “Mrs. E” who was a former President and Director of the Institute, a remarkable woman and a great humanitarian who dedicated herself to the Swedish Institute and the field of Massage Therapy for more than 30 years. Open to any undergraduate student enrolled in one of the college’s degree programs. ($1,000 renewable annually)

President’s Scholarship – This scholarship recognizes academic achievement in matriculating students enrolled any one of the college’s Certificate programs. ($500 renewable annually)

Departmental:

Jennifer A. Plumhoff Scholarship – This scholarship honors the memory of Jennifer Plumhoff, a long-time faculty member who was instrumental in the development of the Off-Site Internship component of the Massage Therapy program. She was dedicated to bringing the benefits of massage therapy to the community. Open to students enrolled in the Massage Therapy degree program. ($1,000 renewable in subsequent academic year/s providing criteria are met.)

Theodore A. Melander Scholarship – This scholarship honors the memory of the founder of the Swedish Institute who brought a distinct method of massage and exercise physiology to this country. Open to students enrolled in the Advanced Personal Training degree program ($1,000) renewable in subsequent academic years, providing criteria are met.)

Richard G. Gilbert Scholarship – A long-time friend and benefactor of the Swedish Institute, Mr. Gilbert, former president of Denoyer-Geppert Science Company, devoted over 40 years to the field of education. Open to students enrolled in the Surgical Technology degree programs. ($1,000 renewable in subsequent academic year/s providing criteria are met.)

Nursing Scholarship – This scholarship is open to students enrolled in the Registered Nursing degree program. ($1,000 renewable in subsequent academic year/s providing criteria are met.)

Marissa Alp Scholarship – This honors the memory of Marissa Alp, a young woman who died suddenly of an undiagnosed heart condition. Marissa was a dedicated young woman with a passion for education who developed a creative approach to teaching that enabled her to connect deeply with her students and inspire them to learn in ways they never thought possible. Open to students in the Medical Assisting degree program. ($1,000 renewable in subsequent academic year/s providing criteria are met.)

Amount:

Each degree program scholarship, and the Patricia J. Eckardt Memorial Scholarship, has an award of $1,000, which will be divided by the remaining number of terms in that academic year and the amount will be applied to the tuition due for each of the remaining terms. The scholarship will be renewed in the following academic year providing student maintains the required GPA and any other academic requirements of the scholarship are met. Maximum total award for any one scholarship will be $2,000.

The President’s scholarship will award a maximum of $500 to one student enrolled in any eligible Certificate program. Award procedure is the same as for the degree: award will be divided by the remaining number of terms in the academic year and the amount will be applied to the tuition due for each of the remaining terms. The scholarship will be renewed in the following academic year providing the student maintains the required GPA and any other academic requirements of the scholarship are met.

Awards are made by a scholarship committee. More detailed information concerning eligibility, GPA requirements, Essay Topics and procedures is available on the Scholarship Application Form when published.

Veterans Programs

Qualified veterans and their dependents are eligible for educational benefits while attending programs at Swedish Institute. Contact the Financial Aid office for detailed information about applying for VA benefits. Further information is also available at the Veteran’s Administration website.

How to Apply

Swedish Institute participates in Title IV Federal Student Financial Assistance programs. Students who are U.S. citizens or permanent residents may qualify for one or more of the following financial assistance programs.

To apply for financial aid, students must complete the Free Application for Federal Student Aid (FAFSA). To access the site, students must acquire a pin number from the Federal Student Aid PIN website to sign the FAFSA electronically. Swedish Institute’s Federal School Code, needed to complete the FAFSA, is 016904.