Financial Aid Frequently Asked Questions
What forms are needed to apply for Financial Aid?
The Free Application for Federal Student Aid (FAFSA) must be completed each year. Students can submit their application electronically by using FAFSA on the web.
In addition, students will need to complete a Pulaski Technical College Financial Aid Data Form.
Note: Official transcripts are required from all previously attended institutions.
What types of financial aid do I apply for when I complete this application?
Eligibility for all forms of federal financial aid, including PELL Grant, SEOG Grant, Federal Direct Loans, and Work-Study are determined when you complete the FAFSA. In addition, this form is used as an application for state aid programs.
What is PTC’s Title IV Code and why do I need it?
Pulaski Technical College's Title IV code is 014167. When a student enters this code on the FAFSA, Pulaski Technical College will automatically receive an electronic version of the students processed Student Aid Report (SAR).
I probably don't qualify for aid. Why should I apply?
Many families mistakenly believe they don't qualify for aid, preventing themselves from receiving aid for which they may be eligible simply because they fail to apply. In addition, there are sources of aid, such as Unsubsidized Loans and Parent Loans for Undergraduate Students (PLUS), available regardless of need. The FAFSA form is free. It does not obligate the student or the parent in any way. There is no reason not to apply.
Do I need to be admitted before I can apply for financial aid?
No. Students can apply for financial aid at any time after January 1. To be awarded federal aid students must be admitted to a degree seeking program. To receive funds, you must be admitted and enrolled at Pulaski Technical College.
I sent in my FAFSA over four weeks ago, but haven't heard anything. What should I do?
Students who haven't received a Student Aid Report (SAR) should call the Federal processor at (319) 337-5665 or 1-800-433-3243. Students can also check the status of their application by going to www.fafsa.ed.gov.
I am independent of my parents. I don't live with them, I file my own taxes and they are not helping me with college expenses. Can I file for financial aid without using their income information?
The federal aid programs are built on the premise that educating a child is a family responsibility. The FAFSA gives specific criteria for determining when a student may file for federal aid without using parental income information. If there are other extenuating circumstances please feel free to contact the financial aid office for further assistance.
How do I transfer my financial aid to PTC?
Financial aid does not transfer from one school to another school. Each school must determine your eligibility for financial aid. It may be exactly the same at each school or it may differ considerably. The first thing students should do is contact the other school and cancel financial aid and notify the appropriate office that you are transferring. Students will then need to add Pulaski Technical College to their Student Aid Report. You can phone 1-800-433-3243 and request that your Student Aid Report be sent to Pulaski Technical College or go online to www.fafsa.ed.gov. Pulaski Technical College's school code is 014167. When these documents are received by the Financial Aid Office, we will contact you concerning the status of your application.
How do I apply for a student loan?
Pulaski Technical College will automatically determine the students loan eligibility when setting up the students financial aid award package. Students will have the option to accept, reduce, or cancel their loan award.
What is the difference between a subsidized and an unsubsidized loan?
For both loans, the principal (the original amount a student borrows) is deferred until six months after the student graduates or stops attending school at least half-time. As its name implies, a SUBSIDIZED loan is one where the government pays the interest on the loan while the student is in school. An UNSUBSIDIZED loan is one where the government does not pay the interest while the student is in school, that is, the student is responsible for paying the interest.
What is "loan counseling," an "entrance interview" or "entrance counseling session"?
All of these terms refer to the same thing: loan counseling. The federal government requires all first-time student loan borrowers to participate in loan counseling prior to receiving a Federal Student Loan. During this online session, students will review basic facts about loans, managing their education expenses and their rights and responsibilities as a student loan borrower.
Can I cancel my loan if I change my mind?
Yes. Students may cancel all or a portion of their loan by informing the Financial Aid office in writing.
My application has been selected for verification, what does that mean?
The US Department of Educaton of education randomly selects FAFSA’s for a review process called “verification.” This means PTC must compare the information from your FAFSA with financial documents that you must provide to our office. You will be required to submit a signed copy of your federal tax forms and verification work sheet. If you are a dependant student, you will also be required to submit a copy of your parent’s federal tax forms. You may also be asked to submit other documents, such as proof of the amount of untaxed income you or your parents receive, or verification of the family’s assets.