The student must complete the Free Application for Federal Student Aid (FAFSA). Unlike loans, grants do not have to be repaid. To determine if you are eligible, the Department of Education uses a standard formula, revised and approved every year by Congress, to evaluate the information you report when you apply for a Pell Grant.
Using a formula guarantees equal treatment for all applicants.
You must submit all three parts of your Student Aid Report (SAR) to your school. Your school will then receive and credit your award to your account, until your school account is paid in full, and the student receipted accordingly. The school receives the student’s award in two payments, one at the beginning of school, and the second after one-half of the academic year. International Academy’s academic year consists of 900 clock hours, but the student must complete all of their program clock hours to graduate from this Academy. How much you actually receive depends on the following factors:
1. Your student aid index number
2. The cost of education at your school, whether you are a full-time or half-time student.
3. How long you will be enrolled in the academic year.
REFUNDS DUE TO TITLE IV PROGRAMS
The school will determine the amount of a refund in accordance with Federal Regulation, Return of Title IV Funds. After the school has determined the amount of the refund which must be returned, the school will first return all sums to the F.F.E.L. Program, then the (FAFSA) Pell Grant Programs and finally the S.E.O.G. Programs.