FINANCIAL AID OVERVIEW


We would love to give you free education, but the reality is that we must pay rent, teaching staff and all the other expenses that go into preparing you for a successful career. Our goal is for you to graduate with as little debt as possible. Working together we help you navigate the financial aid process to make sure you understand your options. Additionally, for students who have not created a positive credit history or need to repair their credit history, we want to help you establish the best practices to ensure that you will have access to funding in the future. For this reason our Financial Aid department works very hard to find the options that will work best for you.


Spa Tech Institute has the following approvals:

United States Department of Education – Federal Student Aid Programs. (School code: 014572) This will help pay for tuition and living expenses for students that qualify.


The PELL Grant is a gift given to you by the government as an aid for your education if you meet financial guidelines. This is not a loan. No repayment is required unless you violate school and federal drug policies.


The STAFFORD or GSL Loan Program are loans that must be repaid. The loans are guaranteed by the government. The government pays interest while the student attends school and up to six months after graduation. Low monthly payments follow. Please contact us for further assistance and information. Please note, these are loans that require repayment, whether you complete the program or not. Federal Student Loans are not eligible for discharge in bankruptcy. Failure to repay loans in a timely fashion can affect your credit score and make it harder to get future loans.


Parent Plus Loans. Please contact us for further assistance and information.


Some of the programs are also recognized by the Massachusetts D.E.T. for Chapter 30 benefits for continued unemployment benefits while attending school.


IMPORTANT FINANCIAL AID LINKS

Start by you and/or your parents set up your FSA ID for all online processing and management of your financial aid experience.


To fill in your FAFSA online go to http://www.fafsa.ed.gov//index.htm and use school code 014572. (Please note: The school code will show the address of the school in Westbrook, ME. This is the main school campus and all other locations are branches of the school in Maine.)


To complete your direct loan process online go to www.studentloans.gov Please note, these are loans that require repayment, whether you complete the program or not. Federal Student Loans are not eligible for discharge in bankruptcy. Failure to repay loans in a timely fashion can affect your credit score and make it harder to get future loans.


Private Student Loans

The following private education loans are useful when Federal Student Aid for qualified students doesn’t cover the full educational expense or for students who may not qualify for federal student loans.


For private educational loans based on your credit score go to Sallie Mae Private Loans


Payment Plan information here 

 

IMPORTANT WARNING ON LOAN DISCHARGE AND SCHOLARSHIP SERVICES

Be aware – there are fraudulent companies that say they can either get you scholarships or eliminate student loan debt for a fee. They target you through social media and are very effective scams. If they ask for money to reduce your fees, discharge your student loans, get you scholarships or even help you apply for loans, be very careful before proceeding.


FINANCIAL AID TUTORIALS

It’s recommended that you open the tutorials in full-screen mode so you can see the details. The icon for expanding the screen is in the lower right corner of the video. Your comments are always appreciated.

CALL TO SPEAK WITH ADMISSIONS NOW

1-800-262-8530
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