FINANCIAL AID TO THOSE WHO QUALIFY
Medical Institute of Palm Beach is an eligible institution approved by the United States Department of Education to participate in several Federal Student Aid Programs. This allows our Financial Aid Department to offer you the best possible combination of financial assistance. Medical Institute of Palm Beach is also approved to participate in the Veterans Administration Assistance Program. To help you understand what types of Federal Student Aid Programs may be available to you, please see the descriptions of financial assistance programs available HERE.
At Medical Institute of Palm Beach we understand that applying for financial assistance can be overwhelming and a little confusing, particularly if this is the first time that you or one of your family members is applying for Federal Student Aid. At MIPB we strive to make the process of applying for financial assistance as easy as possible for you and your family and will assist you through the application process. We will schedule a one on one appointment with our Financial Aid Officer, so that they can advise you of what Federal Student Aid Programs you may be eligible for. This way you will know how you will be able to pay for your education prior to starting classes.
Federal Student Aid Programs are available to all students who meet the basic eligibility requirements. Federal Student Aid Programs, which are also referred to as financial aid include Federal Grant and federal Direct Loan Programs. Federal Grants are awarded based on financial need. The Federal Direct Loan programs are available to all eligible students (some are based on financial need while others are not).
Our Financial Aid Officer will guide you through the process of completing the Free Application for Federal Student Aid (FAFSA) to determine if you qualify for the Federal Pell Grant Program. You will need to first apply for your Federal FSA ID . Both students and a parent (if the student is dependent) must apply for a FSA ID. You can apply online using the Federal Department of Education’s website by going to www.fsiad.ed.gov . You and a parent (if applicable) must have your FSA ID in order to complete the Free Application for Federal Student Aid (FAFSA). You can complete a paper FAFSA or apply online at www.fafsa.ed.gov. The results of the FAFSA will determine if you are eligible for the Federal Pell Grant and the Federal Direct Loan Programs. Please remember that we are here to help you through this process and we invite you to come in and schedule a one on one appointment with our Financial Aid Department.
Completing the FAFSA is the first step in determining your Financial Aid Award Package. Your Financial Aid Package may include a combination of Federal Grants, Federal Direct Loans as well as other alternate programs. Our Financial Aid Officer will complete an Estimate Method of Payment with you, so that you will have an estimate of all the financial aid programs that you will be eligible for. Our Financial Aid Officer will explain your Student Rights and Responsibilities as they refer to the Financial Aid Programs you are eligible for. Remember that applying for and receiving Federal Student Aid is a serious responsibility and should not be taken lightly. It is important that you understand your Student Rights and Responsibilities as a Financial Aid Recipient.
Should your financial aid package include Federal Direct Loans, there are some things you need to do before your Federal Direct Loan(s) will be processed. Our Financial Aid Officer will discuss these procedures with you and guide you through the steps. You also have the option of completing these procedures on-line at the Federal Student Aid website. Whether you complete these procedures in the Financial Aid Department or online, it is important that you understand these Student Loan Counseling Requirements.