Financial Aid
How one's education will be funded is always an important consideration in determining where and when to enroll in school. While a quality education cannot be free, ICT/ILS believes that cost of an education should not be a deterrent in meeting one's career goals. We also recognize the importance of being willing to invest in one's own future. We offer all students a wide range of options.
To facilitate the determination of what resources are available to the each student, the insitution utilizes the Free Application for Federal Student Aid (FAFSA). A copy of the application is available at each campus or can be obtained on line at http://fafsa.ed.gov
The institution maintains a Financial Planning Department to assist students in obtaining the financial assistance they require for their educational expenses. Available resources include federal aid, part-time employment (administered through the Employment Assistance Office) and student loans from private lenders. Federal assistance programs are administered through the Office of Student Financial Assistance, U.S. Department of Education. Any U.S. citizen, national or person in the United States for other than temporary reasons who is enrolled or accepted for enrollment (on at least half-time basis) may apply for the programs.
STUDENT COST OF ATTENDANCE
A copy of the current Tuition and Fee Schedule is available from the Admissions Office at each campus. All factors affecting the costs incurred in going to school will be covered in the Admissions interview through an estimate generated in conjunction with the Financial Planning Department.
VARIOUS OPTIONS
GRANTS
FEDERAL PELL GRANT
The Federal PELL Grant is an important source of gift aid for students who demonstrate financial need. Applications are available through high school counselors and the Financial Planning Department. The student applies independently and submits the results of his/her application to a Financial Planner. The amount of the award depends upon the student's determination of eligibility, his/her enrollment status, cost of attendance, and a payment schedule issued by the U.S. Department of Education, Office of Student Financial Assistance.
FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT (SEOG)
Each year the institution makes a limited number of awards to students through this program. These funds are targeted for those students who qualify, based upon financial need, and who would not be able to attend without this assistance. The Financial Planner determines who will receive Federal SEOG and the amount of the award. The students who are Federal PELL Grant recipients having the lowest family contribution are awarded first.
FEDERAL COLLEGE WORK STUDY PROGRAM (CWSP)
This limited funds program provides employment for students who demonstrate financial need and who must earn a part of their educational expenses. Federal CWSP employment is arranged at the institution or with a public or private nonprofit agency off campus. Eligibility for participation is determined by the Financial Planner based on the student's financial need and academic progress. Arrangements for employment of eligible students are handled by the Employment Assistance Department. Specific institutional guidelines do apply. Inquire through the campus EAC office.
INSTITUTIONAL PAYMENT PLANS
It is the goal of the institution that every needy and academically qualified student be able to seek the training necessary to obtain a skilled job. While each student's financial condition and resources may vary, the Financial Planning Department, within certain guidelines and policies, will arrange an affordable financial plan for each applicant. A student interested in furthering his/her education should not allow financial conditions to be a barrier without first obtaining the appropriate information. Plans are available for all students.
STUDENT LOANS - IMPORTANT CONSIDERATIONS
It is a privilege to be part of a country where practically everyone has the opportunity to further his/her education, and in many instances, some type of grant or gift aid is available.
However, grants will not, or were never intended to cover the full cost of education. ICT/ILS attempts to only enroll students who have decided that furthering their education is a very high priority - and a priority worth personal investment. The student should also understand that we, as a matter of practice, will discourage the student assuming unnecessary debt and encouraging the student to "pay as you go" if possible. However, we are committed to helping every eligible student obtain the training desired.
The institution, through the Financial Planning Department, reviews each student's situation on a case-by-case basis. How the student has handled past credit obligations is a key factor in determining the type of student loan that is offered or made available, but be assured there is a plan available to all qualified applicants.
DESCRIPTION OF LOAN PROGRAMS
FEDERAL LOAN – Available at Georgia and Kentucky campuses:
There are generally three types of Federal Loans:
1. Plus Loan - Parent Loan for undergraduate students. This loan is made to the parent of dependent students. Loan amounts are limited to the total cost of attendance, less all other financial aid.
2. Subsidized Federal Direct Loan - Available to dependent and independent students with a limit of $3,500 for the first academic year and $4,000 for the second academic year. In addition to all other requirements, the applicant must demonstrate that all funds will be used for educational purposes only.
3. Unsubsidized Federal Direct Loan - Available to independent undergraduate students with generally the same terms and conditions as noted above, except there is not an income requirement. Loan limits are $4,000 per academic year.
All students who are deemed eligible for the above loans must complete the required application and complete Entrance counseling online, which includes an understanding of all loan obligations and responsibilities.
Upon withdrawal, graduation, or a change in enrollment status to less than one-half time, an Exit counseling session is required.
ALTERNATIVE LOANS – Available at all campuses
This institution has several sources of alternative loans for students who either are not qualified for federal loans, or do not desire this type of loan.
These loans have a higher interest rate and require payments at the time the student begins his/her studies. However, the student has the right and privilege of pre-paying the loan balance at any time.
The financial planning staff will provide all of the necessary information should the student need this type of financing.
VETERANS' BENEFITS INFORMATION
The Veterans Administration administers various programs of educational assistance. The institution will assist potential students who are qualified to receive this form of assistance.
Certain programs of study offered by ICT/ILS may be approved for veterans training. For specific information, interested persons should inquire at the campus of their choice. Not all programs are approved for veterans training.
AMERICAN OPPORTUNITY TAX CREDIT
(Formerly Hope Tax Credit)
For 2009 and 2010, earners whose individual Adjusted Gross Income is less than $80,000 or family income is less than $160,000 can receive a dollar for dollar TAX CREDIT up to $2000, plus 25% of the next $2000 per year – for up to four years.
What this means is that any money spent on tuition or books up to $2000 will be returned to you as a tax credit when you file your 2009 and 2010 income taxes.
This can greatly reduce your investment in your education and make the decision to enroll now much easier.
Contact the campus nearest you for more details.
Success Stories
After completing the ESL program, I decided to continue my education at ICT. I am in the CIS Associatie degree program and I am very pleased with what I have been able to accomplish at ICT.
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