Types of Financial Aid - Perry Technical Institute

Details

GRANTS

Grant programs provide assistance to students who qualify and do not have to be repaid.

Federal Pell Grant

Must be an undergraduate student who does not have a Bachelor’s or a professional degree.
- Pell Grant Lifetime Eligibility - The amount of Federal Pell Grant funds a student may receive over his or her lifetime is limited by a new federal law to be the equivalent of six years of Pell Grant funding. To determine how much Pell you have used and what you have remaining, visit Calculating Pell Grant Lifetime Eligibility.

Federal Supplemental Educational Opportunity Grant (FSEOG)

Given to help low-income undergraduate students finance the cost of their education.

Washington College Grant

Must be an undergraduate student who does not have a Bachelor’s or a professional degree, is a Washington state resident, and meets income guidelines.

College Bound Scholarship

Must be an undergraduate student who does not have a Bachelor’s or a professional degree, is a Washington state resident, and meets income and College Bound Scholarship guidelines.

Opportunity Grant

Students must apply for the Washington State Board for Community and Technical Colleges (SBCTC) Opportunity Grant by filling out and submitting an application to the Financial Aid Office. A notice will be posted around campus when the grant becomes available.

Students who meet all of the criteria will be awarded the Opportunity Grant prioritized in the order that they applied.

Worker Retraining Grant

The Washington Worker Retraining (WRT) Program plays a major role in Washington State's economic development by providing funds for eligible dislocated and unemployed workers in training or retraining that will assist them in regaining employment. You may be eligible for the Worker Retraining Grant, check out all the eligibility categories. If you believe you may be eligible for this grant, please contact financial aid at [email protected].

If you have questions on eligibility please contact the Financial Aid Office. (Proof of eligibility must be provided. Other documents will be requested as needed.)

LOANS

Loan programs supported by the federal government or private entities allow students and parents to borrow funds to pay for school expenses. Loans must be repaid.

Direct Subsidized Loans

Students with financial need may obtain direct subsidized loans with low interest rates and flexible repayment plans after graduation. No interest is charged while you are in school or during deferment periods.

Direct Unsubsidized Loans

Do not require you to demonstrate financial need. Low fixed interest rate and flexible repayment plans after graduation. Interest begins accruing as soon as funds are received.

Direct PLUS Loans

Can be applied for by parents of dependent students to help cover the cost of their child’s tuition/living expenses. The dependent student must have a completed FAFSA on file. PLUS Loans have low fixed interest rates and flexible repayment plans. For more info, visit https://studentaid.gov/understand-aid/types/loans/subsidized-unsubsidized. To apply for a PLUS loan, parents will need to complete the online application at https://studentaid.gov.

Private Loans

Private education loans are a resource families can use to help cover college expenses, but they should only be pursued after exhausting all other available funding options. There are multiple alternative loans available for students, and it's essential to research and choose the most suitable one. Once you have secured a loan, it's necessary to contact the Financial Aid Office, as these loans require certification from the school.
These lenders have worked with our students and are great options to look into:
- Sallie Mae: https://www.salliemae.com/smartoption
- College Ave: https://www.collegeavestudentloans.com/student-loans/undergraduate-student-loans/
- Navy Federal: https://www.navyfederal.org/loans-cards/student-loans/

To view lender application disclosures, click here.

For additional information, see the Financial Aid Code of Conduct.

Institutional Tool Loans

Thanks to the generosity of donors, Perry Technical Institute maintains a limited amount of funds for students who have excellent or no credit history and have a hardship getting approved for a parent/alternative loan. For information, contact Financial Aid at [email protected] or 509-453-0374.

OTHER TYPES OF AID

If you meet the criteria, there are other options which can help pay for school.

Federal Work Study

The Federal Work Study Program provides students with funds for working part-time on or off campus. Please notify the Financial Aid Office if you are interested in being placed on the waitlist for a job opening. Jobs are offered on a first come first serve basis.

Outside Funding Assistance

There are many outside funding agencies that may be able to assist you with tuition, books or tools.. If you can answer yes to any of the circumstances bulleted below please contact our program student specialist for more information:

Veteran
Lack of GED or High School Diploma
Eligible to receive, are receiving or exhausted unemployment benefits
Laid off from a permanent full time position
Unemployed for more than 27 weeks or 12 months
Receiving TANF/food stamps
Homeless
Season farm worker
Displaced homemaker
Tribal member
Limited English proficiency
Disability
Non-Custodial parent
Single parent
Low income
Foster care
Barriers to employment

FINANCIAL AID EXCESS

How and When Financial Aid Will Be Disbursed

Financial aid is disbursed electronically into your PTI student account. Federal Loan, Pell Grant, Federal Supplemental Educational Opportunity Grant, State Need Grant, College Bound Scholarship, and State Opportunity Grant funds should be credited to your account one week after the start of the term. Worker Retraining Grant funds should be credited to your account no later than six weeks after the start of the term. For timing on other aid, please contact the Financial Aid Office.

How and When Excess Funds Will Be Released

Financial aid funds are first applied to your student tuition account. If a credit balance is created on your student account, excess funds will be released to you unless you authorize PTI to hold and manage your credit balance. Direct deposit funds are disbursed weekly and paper checks are only disbursed twice a month. Any excess funds released may result in a future payment due.

For more information, click here: Check Policy.

VETERAN EDUCATION BENEFITS

View Veteran Education Benefits

SCHOLARSHIPS

View Scholarship Information

HIGHER EDUCATION EMERGENCY RELIEF FUND - EMERGENCY FINANCIAL AID GRANTS TO STUDENTS

The Coronavirus Aid, Relief and Economic Security (CARES) Act was passed by Congress and signed into law to provide economic relief from COVID-19. One section of the CARES Act established the Higher Education Emergency Relief Fund (HEERF) and sent money to schools to use for emergency financial aid grants to students for expenses related to the disruption of campus operations due to the pandemic.

Below is information required to be reported by the Department of Education:

An acknowledgement that the institution signed and returned to the Department the Certification and Agreement and the assurance that the institution has used, or intends to use, no less than 50 percent of the funds received under Section 18004(a)(1) of the CARES Act to provide Emergency Financial Aid Grants to students.

PTI has signed and returned to the Department of Education the Certification and Agreement. PTI will use no less than 50 percent of the funds received under Section 18004(a)(1) of the CARES Act to provide Emergency Financial Aid Grants to Students.

The total amount of funds that the institution will receive or has received from the Department pursuant to the institution’s Certification and Agreement [for] Emergency Financial Aid Grants to Students.

PTI was awarded $983,818 authorized under the Coronavirus Aid, Relief, and Economic Security Act (CARES).

PTI was awarded an additional $983,818 authorized under the Coronavirus Response and Relief Supplemental Appropriations Act, 2021 (CRRSAA).

PTI was awarded an additional $2,614,050 authorized under the American Rescue Plan (ARP).

The method(s) used by the institution to determine which students receive Emergency Financial Aid Grants and how much they would receive under Section 18004(a)(1) of the CARES Act.

CARES - An application was provide to all students via their my.perrytech.edu account. The Financial Aid office will review the responses provided in each application to ensure the student is eligible and the student has incurred additional costs related to their continued education (including eligible expenses under a student’s cost of attendance, such as food, housing, course materials, technology, health care, and child care). To ensure students with the greatest need receive the emergency aid, the Financial Aid Office will use a sliding scale to determine the award amount. PTI has developed the sliding scale by using the 19-20 Pell distribution table as a guide, therefore resulting in the use of the students most recent EFC to determine the amount of award for each student. Funds were allocated to each EFC level to provide all eligible students an opportunity to receive a grant as all eligible students have been impacted by the Coronavirus.

CRRSSA/ARP/SSARP – PTI will prioritize students with exceptional need (such as those receiving Pell grants). To prioritize students with exceptional need, the Financial Aid Office will use a sliding scale to determine the award amount and automatically apply the funds to the student account for payment (no application is required). PTI has developed the sliding scale by using the 19-20 Pell distribution table as a guide, therefore resulting in the use of the students most recent EFC to determine the amount of award for each student. Funds were allocated to each EFC level to provide all eligible students an opportunity to receive a grant as all eligible students have been impacted by the Coronavirus. Originally for students that did not have a FAFSA the student had to apply for the grant and provide supporting citizenship documentation. Due to recent guidance the requirement to provide citizenship has been removed and students without a FAFSA will be contacted by the Financial Aid office to determine their award amount. Under ARP only, students are given the opportunity to appeal for additional aid to receive a lifetime max of $5,000 of all HEERF funding.

Any instructions, directions, or guidance provided by the institution to students concerning the Emergency Financial Aid Grants.

During campus closure, the Financial Aid office worked remotely and responded to student’s questions/inquiries regarding HEERF funds. All enrolled students were sent an email and text to notify them of the grant opportunity and requested an application to be complete. In addition, the information preceding to this report was posted to our website.

Campus is fully open and students have full access the Financial Aid office.

Outreach to Financial Aid Applicants

Current students were notified via email of the opportunity to submit a Special Circumstance Appeal with the Financial Aid Office to request a change be made to their financial aid application due to the recent unemployment of a family member or independent student, or other circumstances. Incoming students will be provided this information during the award packaging process and also via email.

Quarterly Reporting for Student Funds
Quarterly Student Report – updated through June 30, 2022