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Financial Aid Information

Financial Aid Information

financial aid

Funding Your Education

Starting Points offers various options to assist students in paying for tuition, books, and supplies. Not all funding sources are available for each program. Check with the Financial Aid Office for more information. All costs are agreed upon prior to Program start and are delineated on the Enrollment Agreement. If the semester ends and there is an outstanding balance, no transcript will be provided to the student until accounts are paid.

Agency Funding

Starting Points works with a variety of state, county, and city agencies that provide educational funds to eligible students because of unemployment, social service benefits, and/or low income.

If eligible, students may receive Workforce Investment Act (WIA) funds, Division of Vocational Rehabilitation (DVR) funds or Early Employment Initiative Program funds to help pay for tuition, fees, books and supplies. The maximum award is $4000. Students should contact their case manager to determine eligibility for WIA funds.

The Jersey City Employment and Training Program (JCETP) provides funds in a variety of programs including Welfare-to-Work and funds for unemployed applicants.

Students should contact the appropriate agency to inquire about program eligibility requirements.

Cash Payment Plans

Students are encouraged to pay cash for any balance remaining after grant and scholarship aid. Students unable to pay cash may qualify for a student loan (see below).

Students who owe the school a balance are scheduled with monthly cash payments. The balance of school charges must be paid no later than the end of the semester. Students who cannot make payments as scheduled should contact the Financial Aid Office.

Starting Points participates in the Federal Pell Grant and William D. Ford Direct Loan Programs as discussed below.

Federal Pell Grant Program

Federal Pell Grants are gift aid and do not need to be repaid. The maximum award for the 2015-2016 award year is $5,775. The award may be adjusted annually. To qualify, recipients must not have a bachelor’s or graduate degree. Students must complete a Free Application for Federal Student Aid (FAFSA) each award year. Income, assets, household size and number in college reported on the FAFSA are used to calculate the Expected Family Contribution (EFC). Students’ EFC and enrollment status are used to determine the amount of the Federal Pell Grant.

William D. Ford Federal Direct Loan Program

Loans made through this program are referred to as Direct Loans. Eligible students and parent borrow directly from the U.S. Department of Education. Loans include the Direct Subsidized Stafford Loan, Direct Unsubsidized Stafford Loan, and the Direct PLUS (Parent Loan for Undergraduate Students) Loan. These loans must be repaid to the U.S. Department of Education.

Direct Subsidized Stafford Loan

This is a loan that must be repaid to the U.S. Department of Education. The maximum annual loan limit is $3,500. Direct Subsidized Stafford Loans are awarded on the basis of financial need. Financial need is calculated by subtracting the Expected Family Contribution (EFC) from the Cost of Attendance (COA).

No interest is charged borrowers while enrolled in school at least halftime (6 financial aid credits), during the grace period or during deferment periods.

Direct Unsubsidized Stafford Loan

This is a loan that must be repaid to the U.S. Department of Education. The maximum award is $2,000 for dependent and $6000 for independent students. Direct Unsubsidized Stafford Loans are not based on financial need.

Interest is charged to borrowers during all periods, including while enrolled in school and during grace and deferment periods.

Direct PLUS (Parent Loan for Undergraduate Students) Loan

This is a loan that must be repaid to the U.S. Department of Education. It is available to parents of dependent students. The maximum award cannot exceed the Cost of Attendance (COA) minus all other sources of financial aid. Direct PLUS Loans are not based on financial need. Unlike the Direct Stafford Loans made to students, a credit check is required for a PLUS Loan.

Interest is charged to borrowers during all periods, including while the student is enrolled in school and during grace and deferment periods.