Private Business and Vocational Schools

What You Should Know about Financial Aid

Not all schools are eligible to offer financial aid. If you are considering a school that does, there are a few important facts you need to remember.

  1. Before you sign any type of application for financial aid, be sure to read the entire document.
  2. Be aware of the difference between a Pell Grant and a loan. Loans must be repaid. You will receive a payment schedule telling you when you will have to start repayment, the amount of each monthly installment, and where your payments should be sent. Pell Grants are provided to qualifying students as assistance in furthering their education. Not all schools eligible to offer financial aid qualify to offer Pell Grant, so be sure you understand if you are applying for a loan or a grant.
  3. If you have reason to suspect any fraud, or abuse involving federal student aid funds, you may call the following toll-free number: 1 (800) MIS-USED. This number is the hotline to the U. S. Department of Education's Inspector General's office. You may remain anonymous if you wish.

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