This page will give you an overview of the Financial Assistance Programs offered at Medical Institute of Palm Beach. Each section includes links that will take you to the Federal Department of Education’s Website. There you will receive detailed information on each of the Federal Financial Aid Programs that will help you to better understand the financial aid programs, your potential eligibility, and your rights and responsibilities as a recipient of Federal Assistance Programs. Please keep in mind that this is only general information. We encourage all prospective students that are interested in applying for Financial Assistance to make an appointment with our Financial Aid Department.
FEDERAL PELL GRANT PROGRAM
The Federal Pell Grant Program is a grant that is given to eligible students (that have not received a Bachelor’s Degree) and is based on financial need. The Federal Pell Grant Program does not have to be repaid.
FEDERAL DIRECT STAFFORD STUDENT LOAN PROGRAM
All prospective students may apply for the Federal Stafford Direct Loan Program. The Federal Stafford Direct Loan Program is an interest bearing loans and the interest may be Subsidized or Unsubsidized.
FEDERAL DIRECT PLUS STUDENT LOAN PROGRAM
The parents of dependent students may apply for a Parent PLUS Loan from the Federal Direct Student Loan Program. The parent borrower must not have an adverse credit history (a credit check will be done). If the parent does not pass the credit check, the parent may still receive a loan if someone (such as a relative or friend who is able to pass the credit check) agrees to endorse the loan. The endorser promises to repay the loan if the parent fails to do so. The parent may also still receive a loan if he or she can demonstrate extenuating circumstances. The annual loan limit of a Federal Direct PLUS Loan is equal to the student’s Cost of Attendance minus any other Financial Aid that the student receives. Click here for more Information about the Parent PLUS Loans from the U.S. Department of Education.
MEDICAL INSTITUTE OF PALM BEACH NO INTEREST PAYMENT PLAN
Medical Institute of Palm Beach offers students that still have a balance after Financial Aid Assistance a No Interest Payment Plan. Please speak to our Financial Aid Officer for more information about MIPB’s No Interest Payment Plan.