Federal financial aid is available at only one institution during an enrollment period. If you plan to attend another institution concurrently, you must notify Marine Trades Institute prior to enrollment. Students cannot receive federal funds, such as a Pell Grant, from more than one institution during the same enrollment period. Students who are awarded funds at two institutions during the same enrollment period, semester or term, may be required to return funds awarded to them.
You are required to notify the Marine Trades Institute Financial Aid Office in writing of any outside financial aid award you will receive during the academic year. All awards must be reported to the Financial Aid Office. The Additional Aid Report is a useful tool for reporting this information. If you are receiving a Direct to Consumer Loan (alternative or private loans that are disbursed directly to you), federal law requires that loan must be reported to our office. Since federal loans have a lower interest rate, you should always consider those first.
In the event of federal or state reductions in funding, awards may be reduced and you may be billed for the amount of the reduction. The primary responsibility for paying for college costs rests with you and your family.
Awards may be canceled or reduced if you become eligible for additional scholarships and financial aid or if you default on a student loan.
You will be required to reimburse Marine Trades Institute if you receive federal, state, or institutional financial aid under the following situations: 1) providing fraudulent information, 2) failing to maintain Satisfactory Academic Progress in prior periods, 3) dropping classes with a complete refund, and/or 4) not completing the minimum number of hours for eligibility.
Active Confirmation of this statement is required and can be completed on the Student Portal.
I understand that any money received for my educational expenses (including, but not limited to, scholarships, sponsorships and other education benefits) that does not appear on my Financial Aid Offer may reduce my financial need and an adjustment of my award(s) may be necessary. I understand that the Financial Aid Office should be notified in writing by me, or my appropriate agency or donor providing assistance, of all sources of funds not listed on my Financial Aid Offer.
I understand that my offer depends on the available funding for the program and the offer amount(s) may be modified, changed, or canceled at any time without prior notification if regulations or funding for the program(s) change or if my financial aid eligibility changes.
I certify that I will use any money I receive under the federally assisted loans, grants, or work-study programs only for expenses related to my study at the Marine Trades Institute. I will comply with all applicable federal, state, and institutional policies, procedures, and regulations required by the student financial aid programs that I may receive while attending Marine Trades Institute.
I understand that information about my loan(s) will be submitted to the National Student Loan Data System (NSLDS) and will be accessible by authorized agencies, lenders, and institutions.
Award Cancellation
I will contact the Marine Trades Institute Financial Aid Office if I choose not to authorize disbursement before I accept any awards. I understand that the cancellation is not retroactive.
