• FINANCIAL AID OVERVIEW
    STC Federal School Code: 015888
    Powerpoint

    STC participates in various Federal, State and Local financial aid programs.
    --Federal Pell Grant
    --Federal Direct Stafford Loan Program
    --Subsidized Stafford Loan
    --Unsubsidized Stafford Loan
    --Federal Direct Parent PLUS Loan
    --PA TIP Grant
    --Veteran’s Education Assistance
    --CareerLink
    --WIOA/ITA
    --TRA/TAA
    --Office of Vocational Rehabilitation
    STC is NOT eligible for the PHEAA State Grant. This is only for programs that are 2 years or longer

    Financial Aid recipients must meet the following minimum eligibility requirements in addition to demonstrating need:
    --Have a high school diploma, GED, or be home schooled in a setting that meets state law.
    --Be enrolled as a regular student working toward a diploma or certificate in an eligible program.
    --Be a U.S. Citizen or Eligible Non-Citizen.
    --Have a valid Social Security Number.
    --Maintain Satisfactory Academic Progress of 75% or higher.
    --Maintain Satisfactory Attendance (complete within 150% time).
    --Not be in Default on a Previous Student Loan

    Dependent or Independent Student
    If you answer YES to ANY of these questions, you may be an independent student & not required to provide parental information on your FAFSA
    1. Will you be at least 24 years old on December 31st of the academic year for which you are applying for aid?
    --For the 22-23 FAFSA, will you be 24 before January 1, 2023?
    --For the 23-24 FAFSA, will you be 24 before January 1, 2024?
    2. As of today, are you married?
    3. Are you working on a master’s or doctorate program?
    4. Do you now have, children who will receive more than half of their support from you during the school year for which you are applying for aid?
    5. Do you have dependents who live with you and who receive more than half of their support from you?
    6. Are you currently serving on active duty in the U.S. armed forces for purposes other than training?
    7. Are you a veteran of the U.S. armed forces?
    8. At any time since you turned 13:
    --were both of your parents deceased
    --were you in foster care
    --were you a ward or dependent of the court
    9. Has it been determined by a court in your state of legal residence that you are an emancipated minor or that someone other than your parent or stepparent has legal guardianship of you?
    10. Were you determined to be an unaccompanied youth who was homeless or were self-supporting and at risk of being homeless.

    Academic Year Definitions
    STC’s academic year for financial aid purposes is defined in Clock Hours and Weeks of Attendance. STC’s programs range from programs that are less than one academic year in length to programs that are more than one academic year in length. Students attending any program that is less than one academic year or who are advanced placed will have their financial aid awards prorated, or reduced, per federal guidelines based upon the number of hours and weeks to be completed.
    The PN program is eligible for aid in both a first and second academic year of training. The aid received for the second year in both nursing programs will be prorated per federal guidelines based upon the number of hours and weeks remaining in the second year of the program.
    Full Time PN
    The first academic year consists of 34 weeks and 1000 clock hours of attendance.
    The second academic year consists of 18 weeks and 545 clock hours of attendance.
    Part Time PN
    The first academic year consists of 53 weeks and 1000 clock hours of attendance.
    The second academic year consists of 26 weeks and 545 clock hours of attendance.
    The Combo program is a short-term program less than one academic year in length. The Combo program consists of 20 weeks and 800 hours of attendance. Students attending the Combo program will have their financial aid awards prorated per federal guidelines based upon the number of hours and weeks to be completed. Financial Aid for the Combo program is prorated on the base academic year defined as 900 hours and 26 weeks.
    The CDL and Heavy Equipment Operator programs are short-term programs less than one academic year in length. The programs consist of 10 weeks and 400 hours of attendance. Students attending these programs will have their financial aid awards prorated per federal guidelines based upon the number of hours and weeks to be completed. Financial Aid for these programs are prorated on the base academic year defined as 900 hours and 26 weeks.
    Technical vocational programs (Automotive Technology, Medical Assisting, HVAC, and Massage Therapy) offered are equal to one academic year in length.  The academic year defined for these programs is 53 weeks and 1000 clock hours of attendance. Students are eligible to apply for aid for one academic year.
    All students enrolled in programs that are more than one academic year in length are eligible for more than one academic year of financial aid. Upon successful completion of the first academic year, students are eligible to borrow additional pro-rated Stafford Loan funds at Grade Level 2 and receive additional grant assistance if crossing into a new Federal Fiscal year or have remaining grant eligibility in the current Federal Fiscal year. All financial aid for the second year of training will be prorated based the student’s remaining period of enrollment within the program.

    Federal Direct Stafford Loan Programs
    Subsidized Stafford Loan
    Eligibility for a Subsidized Stafford Loan is based on family income and financial need established by standards set forth by the federal government.  The federal government subsidizes the interest on behalf of the student by paying the interest for the student during the deferment period (or period of enrollment) if the family meets the federal income and financial needs standards.
    Effective July 1, 2022 to June 30, 2023, interest on Subsidized Stafford Loans is a fixed rate of 4.99%
    Effective October 1, 2022 to September 30, 2023, Loan origination fee is 1.057%
    Unsubsidized Stafford Loan
    The Unsubsidized Stafford Loan provides an opportunity for students to benefit from the low interest cost of the loan program.
    Effective July 1, 2022 to June 30, 2023, interest on Unsubsidized Stafford Loans is a fixed rate of 4.99%
    Effective October 1, 2022 to September 30, 2023, Loan origination fee is 1.057%
    Parent PLUS Loan
    Parent PLUS loans are available to parents of dependent students to assist in meeting the costs of education.
    Effective July 1, 2022 to June 30, 2023, interest on Direct Parent PLUS Loans is a fixed rate of 7.54%
    Effective October 1, 2022 to September 30, 2023, Loan origination fee is 4.228%

    Federal Amounts
    LPN
    Pell Grant
    If you qualify, you can currently receive between $692 to $6895 per academic year.
    Loans (Subsidized & Unsubsidized)
    Independent students are eligible to borrow up to a total of $9,500 in their first full academic year and are eligible to borrow up to a total of $5,775 in their second academic year
    Dependent students are permitted to borrow up to a total of $5,500 in their first full academic year and are eligible to borrow up to a total of $3,575 in their second academic year
    Combo
    Pell Grant
    If you qualify, you can currently receive between $533 to $5,303 for the course.
    Loans (Subsidized & Unsubsidized)
    Independent students are eligible to borrow up to a total of $7,307
    Dependent students are permitted to borrow up to a total of $4,230
    CDL, Heavy Equipment & Welding
    Pell Grant
    As per federal regulations these programs are not eligible to receive a Pell grant
    Loans (Subsidized & Unsubsidized)
    Independent students are eligible to borrow up to a total of $3,654
    Dependent students are permitted to borrow up to a total of $2,115