Financial Aid

Education is an investment

The training you'll receive at YTI increases your chances of finding a rewarding career. When you graduate from YTI, you stand a better chance of finding a career and making more money than your peers with less education.

Financial Aid for students who qualify

While the primary responsibility of paying for an education rests with the student and his or her family, the Financial Services Office at YTI is dedicated to making the cost of education more affordable for students who might not otherwise be able to attend.

Financial assistance comes from many sources - federal and state governments, private organizations, and YTI. Financial assistance may include scholarships, grants, work-study employment, and loans. Most financial assistance is awarded based on the student's financial need.

All new students are referred to www.studentaid.ed.gov and www.finaid.gov, informational websites that detail the key questions to ask when choosing a school and the typical issues surrounding transferability of credit and the student protection website.

Grants & Scholarship Programs

Grant and scholarship funds are gift aid and do not need to be repaid. Grants are typically awarded based on financial need, school costs, and the student's enrollment status. Scholarships are generally awarded based on merit. Click here to access web links, special search tips and valuable information on general and program-specific scholarships which may be available to you.

Federal Pell Grants
Grant amounts are determined by the federal government based on the Expected Family Contribution (EFC).

Pennsylvania Higher Education Assistance Agency (PHEAA) Grant
Available only for students in 21 month programs and PA residents. Grant amounts are determined by the state of PA based on financial need. Separate forms are required to be submitted to PHEAA in accordance with PHEAA State Grant deadlines.

Loan Programs

Federal loan funds must be repaid. If eligible, both the student and parent can borrow loan funds. While some loans are need-based, others are not, and can be awarded to otherwise eligible borrowers regardless of income.

Federal Stafford Loans
YTI Career Institute participates in the Federal Direct Loan Program.

Federal Subsidized Stafford Loan
Federal Stafford Subsidized Loans are based on financial need as well as annual and aggregate loan limits. Interest on this loan does not accrue during eligible periods of enrollment and stated grace periods. The interest rate is fixed at 6.8%, effective July 1, 2012. Repayment begins six months after graduation or when a student is no longer enrolled at least half time (6 semester hours).

Federal Unsubsidized Stafford Loan
Federal Stafford Unsubsidized Loans are based on annual and aggregate loan limits and is not need-based. Interest on this loan begins to accrue upon the first disbursement. The interest rate is 6.8%, effective July 1, 2012. Principal repayment begins six months after graduation or when a student is no longer enrolled at least half time (6 semester hours).

Federal Parent PLUS loan
If you are the parent of a dependent student, you may be eligible to borrow under the Federal PLUS loan program. To receive a PLUS loan, your dependent student:

• Must have a completed FAFSA on file at VTI Career Institute
• Must be enrolled at least half time
• Must be maintaining Satisfactory Academic Progress
• Must meet all other requirements of Title IV aid, as determined by the Department of Education

The maximum amount that the parent may borrow under the Federal PLUS loan program, is Cost of Attendance minus any other aid (scholarships, grants, loans, waivers, etc.) received by the student.

How to apply for Financial Aid

Students must complete the Free Application for Federal Student Aid (FAFSA). Data from the FAFSA is used in a formula established by the U.S. Congress to determine the student's Expected Family Contribution (EFC) and, ultimately, financial need.

Based on EFC, YTI creates a financial aid package to assist students in meeting the cost of their education.

Application Tips:

• Complete, sign, and return applications and paperwork in a timely manner.
• Gather applicable tax returns and other income documents before beginning the application process.
• Contact YTI's Financial Aid Advisors for assistance in completing all financial aid applications and paperwork.

Financial Aid Links

» View YTI Code of Conduct for Financial Aid Professionals (PDF)
» View YTI Code of Conduct Student Lending (PDF)