Q: Who is eligible for financial aid?

A: Nationally, more than half of all college students receive some kind of aid. To find out if you’re eligible, complete the financial aid packet you get from NTI or go to FAFSA on the Web. NTI will fill in the needed verification documents when it receives its electronic copy (ISIR) of the FAFSA you filled out on the web.

Q: When will NTI start processing my financial aid packet?

A: NTI will start to process your financial aid application only after you have applied to NTI. The admissions process and the financial aid process are separate. The financial aid process can take longer than the admissions process and vice versa depending on your circumstances.

Q: Will NTI provide an estimate before I apply to get accepted?

A: NTI does not make it a practice to provide financial aid estimates. NTI believes you should make your education decision based on the quality of education you are going to receive and the commitment to the profession rather than how much money you are going to receive here compared to another institution or program. Also, at certain times of the year, not all financial aid legislation has passed either on the state or federal level. This makes it extremely difficult to give an accurate estimate. NTI would rather award you at the point that it knows for certain what can be awarded to you.

Q: Does financial aid cover only tuition?

A: No. In determining financial need, your total cost of attendance is considered. This includes fees, books, room and board, transportation, and living expenses. But remember, each financial aid program has maximums that can be awarded.

Q: What is considered financial aid?

A: Many students consider only grants as “financial aid.” But, financial aid encompasses both grants AND loans.

Q: I didn’t get any grants last year. Do I have to fill out the FAFSA again?

A: Yes. Even if you were not eligible for grants last year, needs analysis procedures and family financial situations change. What’s more, to be eligible for student loans, you need to fill out the FAFSA and go through NTI’s verification process.

Q: I live in a state that has a tuition reciprocity agreement with Minnesota. How does this affect my tuition at NTI?

A: Every student in a particular start date at NTI is charged the same tuition no matter what state they are from.

Q: My parents have not claimed me on their taxes and I don’t live at home. Am I considered independent when it comes to financial aid?

A: Some students and parents confuse tax laws with laws that govern the Department of Education. On the FAFSA, you answer 7 questions that determine your dependency status. If after answering these questions you are required to provide parental information, you are considered dependent by the Department of Education. If you are not required to provide parental information after answering those 7 questions, then you would be considered independent. That being said, there are unusual situations (both parents are deceased, you are under 24, not married, not a veteran, etc) that the financial aid office can help with. If you have an unusual situation, please contact the financial aid office to discuss with them your circumstances.

Q: It’s required that I provide a signed copy of my tax return to NTI. But I used Telefile to file my taxes. There is no signature line. Do I still need to sign my taxes before sending them to NTI?

A: Yes. The Department of Education requires that we receive “signed copies” of the tax forms. In the case of the Telefile form, since there is no signature line, you can sign the form anywhere. There is space near the top by your name and address. Or, there is room normally near the bottom.

Q: What happens if I don’t repay my student loans? It’s not the same as a regular bank loan is it?

A: Yes it is. A student loan is a binding contract. Any unpaid student loan can damage your credit record and result in legal action.

Q: I’m considered dependent according to the 7 questions on the FAFSA. But, my parent(s) refuse to provide any financial information. Can I be considered independent?

A: No. A parents’ refusal to provide information on the FAFSA does not change your dependency status. Furthermore, NTI can not “over-ride” your dependency status because of this refusal. If a parent is refusing to provide financial information on the FAFSA because the parent does not want the student to see this information, NTI can try to accommodate this. Please have your parent call the financial aid office to set up arrangements. But ultimately, by refusing to provide the information, you will not be eligible to receive the Pell Grant, Minnesota State Grant, the Stafford Loan (sub and unsub), the SELF Loan or the PLUS Loan. There are alternative loan programs that you would be eligible to apply for without filling out the FAFSA. But these loans have stricter terms and have much higher interest rates than the government sponsored loan programs.

Q: My parent is remarried. Does my step parent have to provide financial information on the FAFSA?

A: Yes. When a parent remarries, the new spouse takes on certain responsibilities in the eyes of the Department of Education. One of those is to provide information, including tax and financial information, on the FAFSA.

Q: I or my parents can’t find our taxes. What do I do?

A: You need to contact the IRS at 1-800-829-1040 to request a print out of the taxes that were filed. Ask for a printout and not a copy. If you ask for a copy, it will take much longer to receive. Still, allow at least 2 weeks to receive the printout.

Q: I did FAFSA on the Web. Do I still need to provide tax information to NTI?

A: Yes. If you were selected for the verification process. So if you did FAFSA on the Web and were selected for verification, you will need to provide to NTI a Verification Worksheet, an Institutional Certification and Other Benefits form, signed tax forms and all attached schedules, and Worksheet A,B,C. When NTI receives an ISIR automatically from the central processor after it processes the FAFSA on the Web application, NTI will mail out to the student a request for these needed verification items provided the student has applied for enrollment to NTI.

Q: My sibling went to another school, and they didn’t have to provide any tax forms or worksheets. Why do I have to at NTI?

A: Nationwide, a third of the FAFSA’s sent to a school are flagged by the central processor for verification. Your sibling probably was not flagged by the central processor to be part of the third of the applications that institution has to verify.