Located on the Main Campus in the Student Success Center (M100)
The FHTC financial aid program is available to help students who need financial assistance to continue their education. While the financing of education is primarily the responsibility of the students and their families, financial aid programs take into account the wide variety of financial circumstances that can affect a student's ability to pay for education. The financial aid program consists of Pell Grants, Supplemental Educational Opportunity Grants, Work Study, Stafford Loans, a large number of locally funded scholarships and Foundation scholarships.
The Financial Aid Office welcomes inquiries throughout the school year. In many cases, students who did not apply for financial aid prior to matriculation may qualify during the academic year to receive financial aid through grants, work-study or scholarships. Detailed information about financial aid is available in the Financial Aid Office. (620)-343-4600
This is the main method that is used to determine financial aid awards that consist of grants, loans, and work-study. The financial aid department at FHTC is here to help you better understand the options that will best fit your needs to pay for school. It is important to remember that each type of award carries requirements and restrictions. Be sure you clearly understand your options before accepting awards, changing classes, dropping a class, or deciding to no longer attend a class.
IMPORTANT DEFINITIONS:
Subsidized Loan- A loan based on financial need for which the federal government pays the interest that accrues while the borrower is in an in-school, grace, or deferment status. For Direct Subsidized Loans first disbursed between July 1, 2012, and July 1, 2014, the borrower will be responsible for paying any interest that accrues during the grace period. If the interest is not paid during the grace period, the interest will be added to the loan’s principal balance.
Unsubsidized Loan-A loan for which the borrower is fully responsible for paying the interest regardless of the loan status. Interest on unsubsidized loans accrues from the date of disbursement and continues throughout the life of the loan.
Federal Pell Grant- A federal grant for undergraduate students with financial need.
Federal Perkins Loan- A federal student loan, made by the recipient's school, for undergraduate and graduate students who demonstrate financial need.
Federal Work-Study- A federal student aid program that provides part-time employment while you are enrolled in school to help pay your education expenses.
Direct Loan- A federal student loan, made through the William D. Ford Federal Direct Loan Program, for which eligible students and parents borrow directly from the U.S. Department of Education at participating schools. Direct Subsidized Loans, Direct Unsubsidized Loans, Direct PLUS Loans, and Direct Consolidation Loans are types of Direct Loans.
Federal Family Education Loan (FFEL) Program- Under this program, private lenders provided loans to students that were guaranteed by the federal government. These loans included Subsidized Federal Stafford Loans, Unsubsidized Federal Stafford Loans, FFEL PLUS Loans, and FFEL Consolidation Loans. Federal student loans under the FFEL Program are no longer made by private lenders. Instead, all new federal student loans come directly from the U.S. Department of Education under the Direct Loan Program.
Interest-A loan expense charged for the use of borrowed money. Interest is paid by a borrower to a lender. The expense is calculated as a percentage of the unpaid principal amount of the loan.
Interest Rate-The percentage at which interest is calculated on your loan(s).
Consolidation- The process of combining one or more loans into a single new loan.
Deferment- A postponement of payment on a loan that is allowed under certain conditions and during which interest does not accrue on Direct Subsidized Loans, Subsidized Federal Stafford Loans, and Federal Perkins Loans. All other federal student loans that are deferred will continue to accrue interest. Any unpaid interest that accrued during the deferment period may be added to the principal balance (capitalized) of the loan(s).
Default- Failure to repay a loan according to the terms agreed to in the promissory note. For most federal student loans, you will default if you have not made a payment in more than 270 days. You may experience serious legal consequences if you default
Delinquent- A loan is delinquent when loan payments are not received by the due dates. A loan remains delinquent until the borrower makes up the missed payment(s) through payment, deferment, or forbearance. If the borrower is unable to make payments, he or she should contact his or her loan servicer to discuss options to keep the loan in good standing
Collection Agency- An entity that recovers unpaid debt from borrowers who have defaulted on their loans.
