Financial Aid For Career Training Programs @ Midwest Institute
Midwest Institute is student-centered. Our programs emphasize personal development as well as career development.
We care about your future.
Midwest Institute seeks students who have a sincere interest in their studies, whether that be medical, dental, or veterinary training. Your interest, motivation, and commitment are a few of the factors measured when considering your acceptance to a program.
Our Admissions counselors carefully determine how you will benefit from the career path you have chosen. Taking the first step is always the most difficult. We understand what it takes to begin a new career. We are here to encourage and support you from the first day of class through your first day on the job!
Financial Aid is available for those who qualify.
Remember,with most federal student aid, borrowed money must be repaid once you graduate—often with interest. That is why it is important to only borrow what you need to cover your expenses.
You may be offered more than you need to cover your education and living expenses, but that doesn’t mean you have to take it.Consider carefully what you will be able to repay.Don’t borrow more than you truly need. Just because you can accept the maximum amount doesn’t mean you should.
Click on the following link to see a description of the types of aid available. Click here to download.
To find out more about financial aid and how to qualify, click the following link https://studentaid.gov/
Financial Aid Information is available by contacting our office directly through this website, or by calling 314-344-4440.
MILITARY TUITION ASSISTANCE
Midwest Institute offers Active, Reserve, and Veteran military personnel living in the St. Louis area the opportunity to gain a career-focused education. Please visit our Military Tuition Assistance page to learn more about which tuition assistance programs you may qualify for as a Veteran or Veteran’s Dependent.
NET PRICE CALCULATOR
Click here to Get a Quick Estimate of your program costs and financial aid
The Net Price Calculator is a tool to help you get a better idea of how much you will invest in your chosen program. The Net Price calculator makes it easy to get a quick estimate of the financial aid you may be eligible to receive based on your individual need. This will allow you to quickly determine your out-of-pocket costs for tuition and fees and have you on your way to your future!
Your Program Cost and Financial Aid Estimate includes:
- Federal and state financial assistance
- Grants, scholarships, and other funding for which individuals wishing to attend our school may be eligible
Financial aid is available to those who qualify. Our Financial Aid department is available to answer questions you may have when applying for financial aid.
The following are policies that are important for students to know and understand prior to receiving financial aid:
Verification Policy
Verification is the process by which Midwest Institute confirms the accuracy of the information reported on a students’ FAFSA. Some applications are selected to be verified. If indicated by an asterisk after the EFC or on page 3 by a Y or N on the verification flag line on the Institutional Student Information Report (ISIR), your ISIR has been selected for verification.
The student will be required to submit additional documentation in order to qualify for financial aid. These documents may include:
The Federal Verification Worksheet
- Copies of the federal income tax return TRANSCRIPT for the student, spouse, and/or parent (if applicable) if the student did not or was not able to use the IRS data retrieval process or made changes to the data once it was reported in the IRS data retrieval process.
- Proof of citizenship, proof of sibling/spouse/dependent enrollment at another institution, copies of Social Security benefit statements, 1099 forms, and other documents may also be requested.
If discrepancies are discovered during verification, the Office of Financial Aid may require additional information or documents. Any discrepancies that must be corrected may change your eligibility for financial aid as estimated on your ISIR.
If you, your spouse, or your parent refuses to submit the required documentation, your eligibility for federal financial aid may be forfeited.
Documents required for verification:
- Household size (number of people in your household)
- Number in college (number of household members attending a post-secondary educational institution at least half time)
- Adjusted Gross Income (AGI) or income earned from work if income is below the minimum required for income tax filing
- U.S. Income Tax Paid for the base year
- Certain Untaxed Income and Benefits for the base year
- Untaxed IRA distributions
- Untaxed pensions
- Education Credits
- IRA deductions
- Tax-exempt interest
- Food stamps received
- Child support paid
In addition to these basic verification requirements, students may be asked to verify any other item reported on the FAFSA. Dependent students are required to submit a dependent federal verification worksheet and a copy of both the student and parent’s federal income tax transcripts for the prior fiscal year
Independent students are required to submit an independent federal verification worksheet and a copy of the federal income tax transcript for the prior fiscal year. If an independent student was married at the time he/she signed the FAFSA and did not file a joint tax return, the student must also submit a tax transcript for his/her spouse.
The verification worksheet and the tax transcripts should be forwarded to the Office of Financial Aid as soon as possible after they are requested. Students will not be awarded federal financial aid until the verification process has been completed.
Midwest Institute Professional Judgement Policy
Application Process:
Complete the FAFSA: Since federal student aid is part of the U.S. Department of Education and as they are the largest provider of financial aid in the country, it is very important to fill out the Free Application for Federal Student Aid (FAFSA) each year. This form was developed to help students determine which assistance programs they could qualify for. Click here to complete
Leave of Absence:
Students may apply for a leave of absence by submitting a request in writing to the Director of Education of their campus or in person with the Director of Education or Campus Director. An LOA can only be approved if the student is able to return to a section of the program which is at the same point as the Module from which the student withdrew. It is the student’s responsibility to return on the date submitted from his/her LOA. If the student can not return on that date a request for an extension must be presented in writing and approved by the Director of Education or the Campus Director. If a student does not return from an approved leave of absence the student’s last date of attendance will be the date the student ceased to attend classes. If the student can not return on that date a request for an extension must be presented in writing and approved by the Director of Education or Campus Director.
Before Withdrawing discuss your options:
Withdrawing from school is a big step. Before you withdraw make an appointment with your counselor to understand the impact that withdrawing could have on your future education. Talk to your counselor about options that might be available to help you finish your classes.
If you have financial aid, check with the Office of Financial Aid to be sure you understand your debt and are advised how Midwest Institute will help you through the process of repaying your loans or understanding other payment options.
Active Duty Reservists, National Guard, and Natural Disaster Emergency Workers ordered to duty should contact the Director of Education.
How to Withdraw:
You can withdraw by contacting the Director of Education or Director of your campus in writing or in person.
You must contact the Financial Aid Office in order to understand your financial aid responsibilities and complete an exit interview.
Nonattendance DOES NOT constitute a withdrawal. If you stop attending a class, you are still liable for all applicable tuition and fees, and you will receive a failing grade.
Last Day of Attendance
A student is considered to have withdrawn from a payment period in which the student began enrollment if the student ceases attendance in all scheduled courses. The last date of attendance is the date of the last class attended. For online students, this is the last date of any academically related activity for their class in the Student Portal.
Returning to a Program
Students who withdraw and want to return to the same program must do so within 180 days. The Director of Education will determine if there are classes available for the student to be able to return within the required time-frame and if the student returns they will be in the same payment period as when they withdrew. When the student returns any aid returned to Title IV at the time of withdrawal will be requested and applied. If the student does not return they will be responsible for any Title IV loan balance and balance owed to the school.
Return to Title IV
The Midwest Institute Financial Aid Department is required, by federal statute, to recalculate aid eligibility for students who withdraw, drop out, or are dismissed having completed 60 percent or less of a payment period or term. Recalculations are based on the followingFederal Return to Title IV funds formula:
Percentage of payment period completed = the number of days completed up to the withdrawal date divided by the total days in the payment period or term. Funds are returned to the appropriate federal program based on the percentage of unearned aid.. If the student completed more than 60 percent of the payment period, the student will have earned 100 percent of the federal financial aid for the payment period.
Refunds are then allocated in the following order:
- Direct Unsubsidized Loans
- Direct Subsidized Loans
- Direct PLUS loans
- Federal Pell Grant
- Federal Supplemental Educational Opportunity Grant
This calculation concerning federal financial aid is separate From the Institutional Refund Policy, and may result in the student owing additional funds to the Institution to cover tuition charges previously paid by federal financial aid prior to the student withdrawal. Students who plan to withdraw should notify the Institution.
If the amount of aid earned by the student is more than the amount of aid that was disbursed, the Institution may owe the student a post-withdrawal disbursem*nt. Grants must be disbursed within 45 days of this determination. If there is a loan post-withdrawal disbursem*nt, they must be offered to the students within 30 days. The student has 14 days to respond to accept or decline the loan funds. All post withdrawal disbursem*nts are applied to the student’s account first. If there is a resulting credit balance this will be disbursed to student no later than 14 days from disbursem*nt date of aid.
Any refunds due to the Title IV program must be returned by the school no later than 45 days from the date of determination of the students’ withdrawal.
If the R2T4 calculation results in a credit balance to the student account, the credit balance will be disbursed as soon as possible but no later than 14 days after the calculation.
If the R2T4 calculation results in an amount to be returned that exceeds the school’s portion, the student must repay some funds.
A student may then be personally responsible for any money owed to the school based on the school refund policy.
The school may terminate a student because of insufficient academic progress, nonpayment of tuition, failure to comply with rules or five days of unexcused absences. The same refund criteria used for voluntary termination will be followed.
*Students may also be terminated for demonstrating unsatisfactory attitude or behavior; this may involve, for example, conduct or dress inappropriate to the educational program.
If circ*mstances arise that make it necessary for a student to withdraw, he/she must notify the school administration in person or in writing within three days of his/her last day in attendance.
*A students’ withdrawal date is their last date of attendance in class. This date is the same for both unofficial and official withdrawals. The schools’ date of determination of withdrawal is no later than 14 days after the last date of attendance in class.
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