Grace Institute of Business Technology is fully aware that many worthy and eligible students could not afford to attend classes without financial assistance.  Therefore the Institute is committed to providing educational opportunities for all qualified students regardless of financial need.  While the primary responsibility for meeting the cost of education rests with the student and the student’s family, the Institute participates in Federal and State financial aid programs that are designed to provide assistance to students who are accepted for enrollment or are currently enrolled whose financial resources are inadequate to meet the full cost of their education.

Financial aid programs are based on current statutes and regulations, and are subject to change.  When changes to these regulations occur, students are notified and information updated.

 
  Financial Aid Availability

The financial aid provided by the Federal Government for this institution is referred to as the Title IV funds.  They are Federal PELL grant, and Guaranteed Student Loan (GSL).

The Institute also participates in the Tuition Assistance Program (TAP) a grant program financed by New York State.

Financial aid is awarded on the basis of need, regardless of race, color, religion, sex, sexual orientation, age, national or ethnic origin, handicap, marital, parental, or veteran status.

Click on the following for more information:

   

 

  Financial Need

Financial need is the difference between a student’s total annual educational expenses and the amount the student and his/her family is expected to pay.  It is measured by a comprehensive financial statement, the Free Application for Federal Student Aid (FAFSA) and is based on the difference between the estimated cost of attending the Institute for one academic year and the amount a student’s family can reasonably be expected to contribute to the cost of attending school for the same academic year.

Financial aid decisions are made for the full academic year on the basis of financial need and the availability of funds.  It is important to note that the availability of and eligibility for aid from Federal programs are not guaranteed from one academic year to the next and that students must reapply every year.

When students change schools, the financial aid assistance does not automatically go with them. They must check with their new schools to find out the appropriate steps to take.  

Enrolled students must meet the Institute’s academic progress standards to continue qualifying for financial aid awards.

 

  Completed Financial Aid File

A financial aid file is considered complete:

  • When all the required documents are filled out and handed to the Financial Aid Office.
  • When student receives the ISIR.
  • When student receives TAP Award.
  • When the financial aid Award Statement detailing the amount and source of the aid and expenses incurred during the past and current terms, are given to the student.
  • Enrollment agreement
  • Proof of income
  • Financial aid transcript (if attended another school)
 

The Financial Aid Department is staffed by the following personnel who is responsible for assisting students with their financial aid programs:

Prescod, Kim - Accountant/Bursar

Rudinskaya, Olga - Assistant to the Accountant

Miller, Lori - Financial Aid Director

Smirnova, Lyudmila - Financial Aid Director Assistant

Deren, Bernard - Assistant to Financial Aid Director

 

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