Discover a wealth of information and resources related to financial aid designed to assist you in accessing the necessary support for your education at Elite Welding Academy.
- Federal Pell Grants
- Federal Student Loans
- Loan Requirements
- Apply for Aid
- FAFSA Tax Year
- Dependency Status
- Additional Considerations
- Tools and Resources
Timeline: Elite has programs that begin throughout the year so there is no timeline for FAFSA completion. Depending on when you want to start, you may need to complete two years FAFSA’s due to your program “crossing over” into the next financial aid award year. Most classes that begin in March evenings will be “crossovers” as will May day classes.
Starting in July the new award year will be the only FAFSA required.
You will need to have begun the enrollment process before Financial Aid can send you any information regarding your aid. Contact the enrollment management team at Elite to confirm you have a start date determined and are completing the enrollment process.
Available Aid: Elite is able to offer student loans and Pell grants from the Federal DOE program through the FAFSA application. Additional Parent Plus loans are available “up to the cost of attendance” for parents of dependent students. This will be provided on the offer letter from the financial aid department.
Federal Pell Grants
The Federal Pell Grant is a Federally awarded grant based on financial need. This is obtained from your FAFSA information. This amount is determined by the Federal Methodology and provided for you at the submission of your FAFSA. This amount will be included on the offer letter you received from the financial aid department.
Federal Student Loans
Low interest student and parent loans are borrowed money that must be repaid. Loans are a large part of many students’ aid package. These are loans that you do not have to start paying back until six months after you graduate or withdraw. These loans also carry a relatively low interest rate, a low monthly payment and they help you to start building good credit.
Elite will offer you the student loans you are eligible for in your selected program. You do not need to accept the loans.
|Structural and Pipe||Pell Grant||Subsidized loan||Unsubsidized loan||Parent Plus|
|Dependent Student||$0 to $6895||$0 to $3500||$0 to $2000||Up to the cost of attendance minus any other f/a|
|Independant Student||$0 to $6895||$0 to $3500||$0 to $6000||N/A|
MPN – Master Promissory Note
A completed Master Promissory Note (MPN) is required to originate a loan.
A requirement of the DOE for first time student loan borrowers. This is a financial literacy information question and answer session. This takes about 5-10 minutes to complete. Financial aid will give you this information via email, with your offer letter
Outside Scholarships are available from AWS (American Welding Society)
United Group Services offers scholarships based on availability and student application. Inquire with the enrollment team to apply.
Elite has “welding competitions” at some campuses at various times, which allows potential students the opportunity to complete and win scholarships to the Structural and Pipe Welding Program
Apply for Aid
Financial aid is available for those who qualify. Nearly all students are eligible for some form of financial assistance. In fact, over 90% of the students who applied for financial aid in recent years received an award offer. Every effort is made to assist you and your family obtain the resources necessary to meet the difference between the total cost of your selected program and your ability to contribute toward your education.
Complete the FAFSA
The only financial aid application needed at Elite Welding Academies is the Free Application for Federal Student Aid (FAFSA). This single application is used for grants, and loans at the federal level. Elite is not able to offer state grants or workstudy for any of its programs.
- The online FAFSA found at https:// studentaid.gov provides an easy, quick and secure method that checks your application for errors and omissions. By listing Elite (Title IV Code: 042067) as one of your school choices, we will receive your information electronically for award processing. For the Houston Campus choose E40495, for South Point Campus choose E40501
- We also strongly encourage students to use the IRS data retrieval tool within the FAFSA to automatically pull your tax information (and your parents’, when required) onto the FAFSA.
Students (and, when required, parents) can sign their FAFSA electronically using their FSA ID (Federal Student Aid ID). Each student aid applicant should register for an FSA ID as should at least one parent of dependent students. The FSA ID will also be used by borrowers in the student and parent loan processes.
FAFSA Tax Year
It may not seem intuitive that the Federal Application for Federal Student Aid uses tax information from 2 years ago. But changing the tax year used made for a smoother aid application process.
The requirements for the FAFSA changed to help students and parents with completing the FAFSA since the tax data is readily available via the IRS. This change made it easier for students and parents to use the IRS Data Retreival Tool which is the main method of entering income data into the FAFSA
- IRS DATA RETRIEVAL TOOL: This online process is the simplest and most direct way of connecting information from taxes to the FAFSA.
- If you (or your parents) already used the IRS data retrieval tool when filing your FAFSA, the financial aid portal will not ask for tax information as you have pulled it over from IRS already.
- When tax information is requested, you (and your parents, when indicated) can elect to go back into https://fafsa.gov to use the data retrieval to supply the required tax information.
- IRS data retrieval is the most efficient way to verify tax information..
Notice Regarding IRS Data Retrieval
The data retrieved through this process will simply note “Transferred from the IRS” when viewed by the student or parent within the FAFSA Web application or when reviewing your Student Aid Report. The IRS data itself will be detailed only to the schools listed on the FAFSA so as to limit unintended access to your tax information.
One of the confusing elements of financial aid may be dependency status. Too often, families don’t understand that, while the terms “dependent” and “independent” are used to classify students for financial aid purposes, these terms are not related to financial support.
Dependent students are required, when completing the FAFSA, to include parental information. Independent students do not have to use parental financial and household information when filing their FAFSA.
You are considered a dependent student for aid purposes unless one or more of the following very specific conditions is met:
AGE: You are 24 as of January 1 of the FAFSA filing year (i.e., you do not become independent when you turn 24).
VETERAN: You’re a veteran of the U.S. Armed Forces. (A “veteran” includes students who attended a U.S. service academy and were released under a condition other than dishonorable. For more details on who is considered a veteran, see the explanatory notes on the FAFSA.)
MARRIAGE: You’re married on the day you complete the FAFSA (even if you are separated but not divorced).
DEPENDENTS: You have children who will receive more than half their support from you between July 1st and June 30th of the FAFSA academic year.
You have legal dependents (other than your children or spouse) who live with you and who receive more than half their support from you now and through June 30th of the FAFSA academic year.
- At any time on or after July 1 of the year after the tax year used on the FAFSA you have documentation that has determined that you were an unaccompanied youth who was homeless by;
- Your high school or school district homeless liaison
- the director of an emergency shelter or transitional housing program, funded by the U.S. Department of Housing and Urban Development, the director of a runaway or homeless youth basic center or transitional living program
There are some instances where family income information does change negatively and significantly from the FAFSA year. Students (and parents) who have substantially lower income levels for the academic year or who experience excessive out-of-pocket medical expenses not reimbursed or covered by insurance can consider the special circumstances process for the appropriate academic aid year.
Financial aid staff can then assess how these changes may affect your eligibility for aid programs. . Each case is different. We can review your change in income to advise you how aid eligibility may be affected through a special circumstance review.
Download Special Circumstances Form
An unusual circumstance would be for student under the age of 24, where you are not in stable or regular, adequate housing, not living in the physical custody of a parent or guardian or are completely self-supporting paying regular rent, utilities, etc. The attached form will ask for you to identify your circumstances and provide documentation from the list of authorized authorities. Please fill out the form and submit it ONLY after you have spoken with enrollment management and have an intended class start date. At that time the financial aid department will contact you with their determination or request for additional information.
Download Unusual Circumstances Form
A portion of all FAFSA filers are selected for verification by the U.S. Department of Education. This review process is not an indication that you did something wrong. It is simply a required, sample audit process to ensure accurate delivery of federal aid programs.
Verification may be for one or more of these items: income, household size, high school completion, or identity. Students need to complete required items outlined for them by the Financial Aid office.
NOTE: Any federal, grants are subject to change based on verification. Determination of your award will be reviewed once all verification and other requirements are completed.
Do not delay in completing verification. Aid cannot be released until it is completed. Elite’s requirement is to have verification completed before your start date or by the second day of classes.
- IRS TAX RETURN TRANSCRIPT: Students (and parents) who are unable or unwilling to use the retrieval tool can submit the appropriate Tax Return Transcripts from the IRS.
- To receive a transcript, the tax filer (or someone with SSN, date of birth, and exact address used on the tax filing) needs to request the transcript.
- You can view, download, and print the pdf version of your transcript directly from www.irs.gov/Individuals/Get-Transcript.
- You can also use that same website to have a copy mailed to you or request one by calling 1-800-908-9946.
- Be sure to request the IRS Tax Return Transcript, not the IRS Tax Account Transcript.
- SIGNED COPY OF FILED FEDERAL TAX RETURN: Students and parents needing to verify income may do so via signed copies of their filed federal tax returns.
- Make sure all submitted tax returns are federal, for the year requested, and signed.
- No schedules are needed. So your tax return is a single page if it is a 1040EZ and 2 pages if it is a 1040 or 1040A.
- NON-FILING PROOF: Any non-tax filer will need to supply the following when selected for verification:
- A signed statement certifying that the student, student spouse, or parent(s) has not filed and is not required to file that year’s income tax return and listing the sources and amounts of income earned from work.
- Copies of IRS Form W–2 for each source of employment income received (or an equivalent document such as the Wage and Income Transcript).
- IRS Verification of Non-filing Letter obtained from IRS dated on or after filing the FAFSA.
- Verification of Non-filing Letter is required unless you are unable to receive one.
- Acceptable reasons for not having a Verification of Non-filing Letter are very limited and at the determination of Elite Financial Aid office
- Because you are seeking funding from the federal government, we are required to instruct persons who are shown not to have filed the year’s federal tax with income levels requiring a return to file one prior to continuing the aid process.
Both the IRS Data Retrieval Tool and IRS Tax Return Transcripts require you to have filed your federal taxes. Your tax information for the online retrieval tool or to request a transcript can take up to 2 weeks from you filing your federal taxes electronically and up to 8 weeks if filed by paper/mail.
Tools and Resources
Cost of Attendance
The cost of attendance is used by the financial aid office to determine the subsidized loan eligibility and the parent plus eligibility at Elite. The information is updated each year with student survey input and web site data for local areas.
Structural and Pipe Program:
$12700+$100 = $12,800 Tuition and Admissions fee
Tools and Lab = $6,100
570 Mon X 6 Months = $3,420 Transportation
360 Mon X 6 Months = $2,160 Personal/ Miscellaneous
1600Mon X 6 Months = $9,600 Housing and Food
34080.00 COA Independent student. 23/24 all campuses
Dependent students calculation reflects a lesser amount in Food and Housing and transportation as they generally do not pay their car insurance or maintenance
Tools and Lab = 6100
360X6=2160 Food Housing
26,220.00 COA Dependent student. 23/24 all campuses
Consider Consequences of Withdrawal
Dropping or withdrawing from classes should not be taken lightly. Financial aid funds are intended to assist students in completing coursework. Scholarship, grant, and loan recipients are therefore subject to refund and repayment obligations that may differ from Elite ‘s withdrawal policies.
Return of Financial Aid
Students who withdraw from all of their classes in a term may only keep the federal aid earned up to the point of withdrawal. Federal Title IV funds that were disbursed in excess of the earned amount must be returned to the federal student aid program, This could result in a balance due of earned tuition by Elite which now the student must repay to Elite.