Financial Aid Overview

An important consideration for every student is the financing of a college education. MTC realizes that the costs of education may be difficult for students to pay. However, you should not assume that you will be unable to attend college for financial reasons. Sources of financial assistance are many and varied and may be explored by contacting the Financial Aid Office.

How to Apply for Financial Aid

All financial aid information may be found on the college’s website.

Complete the Free Application for Federal Student Aid (FAFSA) online. This application is used to determine your eligibility not only for Pell Grants, but also for the Federal Supplemental Education Opportunity Grant (FSEOG), Direct Student Loan, College Work-Study, and most scholarships.

Submit a scholarship application if you wish to apply for various scholarships available to MTC students. The application deadline is May 1st.

You must reapply each academic year if you wish to be considered for financial aid the following year (the academic year is Fall, Spring, and Summer terms). Applications for financial aid and financial advising are available from the Financial Aid Office.

Types of Financial Aid Scholarships

Scholarships are monetary gifts which do not involve repayment. All scholarships vary in amounts according to the funds available and the number of eligible applications received by May 1. The results of the Free Application for Federal Student Aid (FAFSA) must also be on file at the college by this time.

Grants (Pell Grant, Federal Supplemental Education Opportunity Grant (FSEOG), and Ohio College Opportunity Grant)

Grants are also monetary gifts that involve no repayment. You must meet normal academic requirements and demonstrate financial need to be eligible. The Pell Grant is a federal grant assisting MTC students. The amount of assistance you may receive is determined based on your own and your parent’s financial resources.

To apply for the grant, you must complete the Free Application for Federal Student Aid (FAFSA) available online. Both full-time and part-time students may be eligible.

Loans

Loans are forms of financial aid that must be repaid at a specified time. Direct Loans are administered through the college, funded by the Federal Government, and carry a low interest rate.

Marion Technical College Emergency Loan

This loan is intended to provide a means of financial assistance to students for a short period of time. The loan is available to students in good standing with the college. A $20 service charge is assessed for loans up to $300. All loans must be repaid prior to registering for the subsequent term and before the end of the current term.

Direct Student Loans

Loans are forms of financial aid that must be re-paid at a specified time. Direct Loans are administered through the college, funded by the Federal Government, and carry a low interest rate.

You must establish eligibility by completing the Free Application for Federal Student Aid (FAFSA). Students must also complete a Loan Request Form indicating the amount of loans requested and complete entrance counseling and the Master Promissory Note. In order for loans to be processed, the student must be enrolled/registered for at least 6 credit hours for the term in which they plan to use the loan. Please contact the Financial Aid Office for more details.

Student Employment

Student Employment is another resource available to help currently enrolled students gain valuable work experience, network with professionals, and learn skills necessary for career success. MTC offers Federal Work Study and college-sponsored student positions, depending on your work study eligibility and department offerings. Students who wish to apply for student employment should visit https://www.collegecentral.com/mtc/Student.cfm or visit the Office of Career Services. You can also contact the Financial Aid Office with questions about Federal Work Study eligibility.

Deferred Payment

This payment plan breaks your tuition into four payments plus a processing fee. Contact the Business Office for information.

Additional Financial Aid Sources

Veterans' Benefits - A veteran who has been honorably discharged or released under honorable conditions may be entitled to receive VA educational benefits. Benefits may also be available for children/spouse of deceased or disabled veterans. Contact the VA Certifying Official for forms and further details.

Bureau of Vocational Rehabilitation (BVR) - If you have a disability that is handicapping to employment, you may be eligible for financial assistance from the BVR. Contact your local BVR office for details.

TRA/NAFTA - The Training Readjustment Act (TRA) and the North American Free Trade Act (NAFTA) offer tuition, books, and supply funding for individuals that were employed with a company that relocated to Canada or Mexico. This benefit is available through the Ohio Department of Job and Family Services.

Workforce Development - Several unions have Workforce Development money available to their members. To obtain this, please consult with your union.

Workforce Investment Act (WIA) - The Workforce Investment Act (WIA) is available through the county Job and Family Services. Contact the County Job and Family Services office in your county for details.

Ohio National Guard Scholarship - Any member of the Ohio National Guard who enlists, re-enlists, or extends his or her service for a period of six years may be entitled to this scholarship at MTC. Contact your local National Guard unit for more details.

Employer Assistance - Employers often offer scholarships to their employees or children of employees. Many area employers also have tuition reimbursement programs.

American Opportunity Tax Credit - The American Opportunity Tax Credit is a tax credit available to eligible students during their first four years of postsecondary education. You may also find additional information on the IRS website.

Federal Student Loan Interest Deduction - A student may deduct up to $2,500 per year of interest paid on education loans for expenses of students enrolled in higher education. You may find additional information on the IRS website.

Financial Aid Websites

If you would like to explore additional information sources on financial aid, the following list is a great place to start: