Forms & Documents
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Franklin Technology Center is an approved institution in disbursement of Title IV funds. A financial aid officer and loan counselor are available to assist students in applying for financial aid to meet the costs of their training program.
To be eligible for student aid, a student must meet certain requirements, he/she must:
It is very important that all students understand the policies and procedures of financial aid at Franklin Technology Center. The administration of financial aid is extremely complex because of all the federal, state, and local agencies that provide and regulate these resources. As a consumer of educational services and programs, you should fully understand the financial assistance to which you are entitled as a student of FTC. The forms you are asked to complete are absolutely necessary. All forms should be completed accurately and honestly. Information given is held in strict confidence. If you have questions or need any information not found in this publication, please call or visit the Financial Aid Office at the MSSU Campus. For more information regarding financial aid, refer to SFA Manual located in the Financial Aid Office.
Eligibility of Financial Aid
During the academic year in which you receive aid, your eligibility is governed by whether you are part-time or full-time. If you are not a full-time student, you will not be eligible for the maximum awards for financial aid. You must be enrolled "at least half-time" in order to be considered for any financial aid.
Types of Financial Aid
Franklin Technology Center offers three basic categories of financial aid: grants, loans, and scholarships.
Student Rights and Responsibilities
You have a right to know:
Financial Aid Procedures Summary
After all the required paperwork is in the student file and satisfactory academic progress (SAP) is documented by the program coordinator, Pell and Loan monies will be ordered by the Financial Aid Officer. Once the Pell and Loan funds are deposited into the financial aid account it may take the Bookkeeper 2-3 business days to obtain the necessary signatures from the Joplin R-8 administration staff if a credit balance is due to the student. All financial aid, regardless of source, is applied to the student's account balance. A student's account must be paid in full before any money is refunded to the student. The Bookkeeper will contact the student, by visiting the program classroom, when financial aid funds are received.
The Free Application for Federal Student Aid (FAFSA) must be completed to receive financial aid. Complete the FAFSA utilizing the previous year's Income Tax Form for your parents and/or yourself, if you are an independent student. After submitting FAFSA, you will receive the Student Aid Report (SAR) and the school you chose on your FAFSA will receive an ISIR that will include your estimated family contribution (EFC). The EFC will determine the amount of Pell Grant award you will receive.
Also, you will need to complete Franklin Technology Center's Financial Aid Application that can be obtained from the Financial Aid Office.
If a student was placed on Financial Aid Suspension from another institution and would like to enter a program at FTC, the student must submit a letter to the Financial Aid Office. It should include the reason(s) for the Financial Aid Suspension and indicate how he or she intends to keep from being placed on probation or suspension at Franklin Technology Center. This letter is required to determine if the student will be eligible for financial aid at FTC.
Pell Grant - Funded through the U.S. Department of Education. Eligibility is based on the family's financial situation. The Pell Grant maximum award amount is $4731 for a full-time student in the 2008-2009 award year.
Franklin Technology Center recognizes that special circumstances may exist that impact the financial resources a student and his/her family has set aside to pay the expenses of attending a program. Therefore, a Professional Judgment Appeal Form is available for these students in the Financial Aid Office.
Selective Service Registration
Any student who should be registered with Selective Service and fails to register is ineligible for student assistance provided through programs established under Title IV of the Higher Education Act.
Dependent or Independent
The Reauthorization of the Higher Education Act requires implementation of a new definition of independent student. For 2008-2009, you are automatically considered an independent student if you:
Student Program Budgets
Expected Family Contributions
How are the expected family contributions (EFC) calculated? For a student who is dependent upon parents, these resources would include the parent's contribution and the student's contribution. For the independent student, the resources would include only the student's contribution, and spouse's, if any. The EFC is calculated, by the federal government, using a formula including income, number of dependents, and various other factors. Therefore, if a student's program indicates the total cost of education to be $5000 and the expected family contribution is $1000, the student would be eligible for $4000 of financial aid.
The Financial Aid Officer will print an award letter, including all financial aid a student is eligible for and will send this to the student to be signed, dated, and returned to the financial aid office. No financial aid award will be disbursed before the award letter is returned to the Financial Aid Office.
Cost of Attendance
The cost of attendance (COA) is calculated by the amount of tuition, books, supplies, and miscellaneous expenses. The miscellaneous expenses include housing, transportation, and personal costs that are determined using the US Bureau of Labor Statistics figures.
In order to receive financial aid administered through Franklin Technology Center, a student may be required to furnish documentation for verification of information provided on the financial aid application as required by the U.S. Department of Education. Any student unable to provide this information will not receive financial aid.
Students may be required to furnish items such as copies of non-taxable income, interest income, proof of assets, and veteran's benefits. These items may be needed to substantiate information reported on the FAFSA or school financial aid application.
Students must provide the Financial Aid Office with documentation for the verification request prior to completion of any financial aid award letter and the disbursement of any Title IV monies.
If the verification procedure discloses information that will change the award to be received by the applicant, the student will be requested to come to the Financial Aid Office to sign a new award letter if applicable. At that time, the discrepancy will be discussed and the proper steps will be taken to correct the error(s).
If applicable, the financial aid office may need to resubmit the Pell Grant SAR or ISIR for corrections. The students must take the responsibility to insure the financial aid has all the appropriate information. If the student has already applied for a Stafford Student Loan, the lender will be notified of the changes to the loan application.
Required Verification Items
The Financial Aid Officer will determine what documentation is necessary for each of the required verification items.
Entrance and Exit Interviews
Students receiving financial aid (Stafford Student Loan) while enrolled as an adult on either a full or part-time basis must participate in an entrance session and complete and sign all necessary documents before receiving disbursement(s). The student must also complete an exit session prior to graduation or termination of enrollment. The website for these sessions is:
Stafford Subsidized Student Loan - Must be repaid. Loan limits vary according to enrollment status. The interest will not accrue during in-school period.
****Amounts may vary and are subject to change
Stafford Unsubsidized Student Loan - Must be repaid. These loans are for independent students only. Loan limits vary according to enrollment status. Interest will accrue during in-school period.
****Amounts may vary and are subject to change
Both the Stafford subsidized and unsubsidized loan begins repayment 6 months after graduation or withdrawal from a program. Interest rates currently have a fixed 6.0% cap. Applications are available in the Financial Aid Office.
If a student requests in Stafford loans, more than $3000 over tuition and fee costs for the program, additional documentation is required to justify borrowing this amount.
FTC is allowed to request further paperwork according to the regulation as stated in the Unified Student Loan Common Manual under section 6.15.E. To comply with this regulation you must write a letter to explain your situation and what the extra money will be used for. Verification of all income, receipts for mortgage/rent, utilities, automobile loans, and other major household expenditures may be required.
Missouri Parent Loans for Dependent Students (PLUS) - Parents of dependent undergraduate students may obtain guaranteed loans. MPLUS loans may not exceed the student's cost of attendance minus any financial assistance the student has been or will be awarded during the period of enrollment. Repayment begins 60 days after the second disbursement. Interest rates for a new borrower are variable with an 8.5% cap. Applicants should contact the Financial Aid Office.
Franklin Technology Center 's Vocation Institution Progression Scholarship (VIP Scholarship) - $1000 Scholarship - Eligibility for scholarship:
Contact Kay Hobart at Franklin Technology Center @ MSSU 417-625-9865.
Missouri Grants and Scholarships
The Financial Aid Office will notify a student if they are awarded any scholarships by means of the student award letter.
Missouri Higher Education Academic Scholarship (Bright Flight) - These scholarships are only renewable at the current time. A student must meet the following criteria for renewal:
Renewal applications will be mailed to eligible students by the MO Coordinating Board of Higher Education.
Access Missouri - Funded through the Missouri Coordinating Board of Higher Education. Application must be made prior to April 1 and eligibility is based on the financial need of the student. The maximum amount is $1000 per award year.
Missouri College Guarantee Program - Approximately $3 million will be available from the Missouri Gaming Committee Fund for scholarships for eligible students. The scholarship awards will be based on demonstrated financial need. The maximum amount is $4600 per award year.
Marguerite Ross Barnett Memorial Scholarship - Maximum scholarship award is $1650. This scholarship may be renewable each year. Student must meet the following criteria for eligibility:
Applications may be obtained from local high schools, or the Financial Aid Office. An application must be made prior to April 30.
A+ Program - The A+ Program is available for Missouri high school graduates who participated in the A+ Program in high school. At the present time, the A+ Program will cover tuition. Certain items such as supplemental textbooks and supplies are not covered. A student must enroll in a full-time program leading to a certificate at Franklin Technology Center. Thirty (30) days prior to the beginning of class, eligible students must complete an A+ Program Form and file the Free Application for Federal Aid (FAFSA). Please check with the Financial Aid Officer at 417-659-4438 for specific details. If a student does not complete the required number of clock hours for the program and/or does not maintain a 75% grade level he/she will lose eligibility for A+ funding. A+ funding is not guaranteed.
In accordance with the A+ School Program "Last Semester of Certificate/Degree" procedures, the students must sign a letter stating they understand it is their last semester of their A+ reimbursement eligibility and they are taking and attending the appropriate number of hours needed to complete a certificate/degree.
Please note : If a student is eligible for a Federal Pell Grant or any other form of federal assistance that does not require repayment as determined by the FAFSA, these funds will be applied to the student's FTC account first. Any covered costs that remain will be billed to the A+ program.
Applications may be obtained from the Financial Aid Office and must be completed 30 days prior to the beginning of the program.
Veteran's Educational Benefits - For veterans of the Armed Forces. Contact Veterans Administration for application at 1-888-442-4551.
Vocational Rehabilitation - For persons needing to train or retrain due to a handicapping condition, which prevents employment success at current level of training, contact Vocational Rehabilitation at 417-629-3067.
Rural Missouri Inc - For seasonal farm workers and their families who have received wages for farm-work, orchard, or nursery work in the last two years. To apply, contact RMI at 1-800-234-4971.
Trade Adjustment Assistance - Available to persons who have lost their jobs due to the closing of an American business because of foreign industry and need training. To apply, contact the Job Service Office at 417-629-3000.
New Traditions - A program for single parents, displaced homemakers, non-traditional males and females, and/or girls and women between the ages of 14 to 25. For an application, contact number at 417-235-7369.
Prior to the Pell and Stafford Loan deposits, the Financial Aid Officer verifies enrollment, attendance, and academic progress of the student. If the student is in good standing, disbursements from Stafford Loans and Pell Grants are deposited into FTC's federal financial aid account and the money is applied to the students' account by the business office. When the student has a credit balance on his/her account a check will be given to the student. This process may take up to 5 business days after the money is deposited. Pell Grants, Stafford Loans, and the Missouri Student Grant awards are all disbursed in two payments.
Students must complete the required number of days and/or clock hours before receiving their payment of financial aid according to the following schedules.
1232 clock hours - Full-time students must have completed at least 30 days for the 1 st disbursement and 616 clock hours for 2 nd disbursement.
1090 clock hours - Full-time students must have completed at least 30 days for the 1 st disbursement and 545 clock hours for 2 nd disbursement.
1050 clock hours - Full-time students must have completed at least 30 days for the 1 st disbursement and 525 clock hours for 2 nd disbursement.
900 clock hours - Full-time students must have completed at least 30 days for the 1 st disbursement and 450 clock hours for 2 nd disbursement.
720 clock hours - Full-time students must have completed at least 30 days for the 1 st disbursement and 360 clock hours for 2 nd disbursement.
Respiratory Therapy Program
Students in the Respiratory Therapy Program will follow Missouri Southern State University policy for financial aid disbursement.
Satisfactory Academic Progress
Satisfactory academic progress is made up of both grades and attendance. When grades fall below a "C", unless the Program Coordinator specifies more rigid standards and attendance is less than 90%, the student will be placed on financial aid probation. If the student does not show improvement of grades or attendance before the next payment period, the student will be placed on financial aid suspension and will be denied financial aid. Failure to achieve or maintain minimum academic standards will also result in the notification of the lender and/or Federal Aid Program. Students who are denied financial aid must immediately set up an appointment with the bookkeeper to arrange payment of tuition and/or fees.
Probation and Suspension
If a student's grade falls below a "C" average or attendance is less than 90% at any payment period; the student will be placed on financial aid probation, the student will be notified in writing and will be ineligible for any financial aid. If the student regains eligibility before the next payment period, he/she will receive any financial aid available. (NOTE: Once a student is placed on financial aid probation he/she must complete the number of hours for the 1 st payment period before receiving any loan disbursement for the 2 nd payment period). If the student does not come back into compliance, he/she will be placed on suspension and will not be able to receive any financial aid for the program.
A Probation and Suspension Appeal Form is available for students who feel they should not have been placed on probation or suspension and is available in the Financial Aid Office.
Reinstatement of Financial Aid Eligibility
If a student who has been denied payment of financial aid during a payment period brings his/her grades and/or attendance up to an acceptable level, financial aid will be reinstated. See the Financial Aid Officer for more information.
Code of Conduct for Franklin Technology Center
Financial Aid Professionals
A financial aid professional at the Franklin Technology Center is expected to always maintain exemplary standards of professional conduct in all aspects of carrying out his or her responsibilities, specifically including all dealings with any entities involved in any manner in student financial aid, regardless of whether such entities are involved in a government sponsored, subsidized, or regulated activity. In doing so, a financial aid professional should:
Code of Conduct adopted from NASFAA