The Travel Institute of the Pacific offers a variety of financial aid and payment programs to qualified students. Assistance may be in the form of Federal or local grants, loans, or payment plans. Specific qualifications vary for different programs but generally a student must meet the following guidelines:
1) Be a US citizen or permanent resident of Puerto Rico, Guam, U.S. Virgin Islands, American Samoa, Palau, Federated States of Micronesia, Marshall Islands or the Northern Mariannas.
2) Be enrolled at TIP in an eligible course of study.
3) Demonstrate need.
Students are not eligible if they owe refunds on grants previously received under federal programs, or if they have defaulted on a loan made through the Federal Student Loan Program. Continued eligibility for financial aid is based upon the student's maintenance of satisfactory academic progress as described in the Institute's catalog. Recipients must sign a Statement of Educational Purpose and comply with the Selective Service Registration requirement. If a student who terminates is due a refund, such refund (in proportion to the percentage of the aid originally awarded) will be refunded to such aid sources before being refunded to the student. In addition to local sources of financial aid and payment plans, the following federal financial aid programs are available at the Institute:
PELL GRANTS
A Federal entitlement called a Pell Grant is available to students who do not have a bachelor's degree. Eligibility for the Pell Grant is not determined by the Institute. The actual amount is calculated on the basis of the student's index number assigned by the Dept. of Education, the allowable cost of the student's education and Congressional appropriations. All students should apply for the Pell Grant; the award can be the foundation of a student's financial aid package.
FEDERAL DIRECT STUDENT LOAN PROGRAM
Federal Direct Subsidized and Unsubsidized Loans
The Federal Government may pay the interest while the student is attending school and during periods of deferment. Repayment begins 6 months after the student graduates or ceases to be a student. The minimum payment is $50.00 per month. Interest rates are fixed at 6.8%.
FURTHER INFORMATION AND APPLICATIONS
The Institute's Financial Aid Office will assist you in determining the best financial aid package suited to your needs. The staff is also available to answer any questions you may have and will provide the necessary applications at no cost to you.