Dawn Career Institute is authorized by the U.S. Department of Education to participate in Title IV funding for those students who qualify.
Education is an investment in your future. The training you'll receive at Dawn Career Institute increases your chances of starting a rewarding career. When you graduate from DCI, you stand a better chance of finding a career and making more money than your peers with less education.
Federal Title IV aid includes different Grants and Loans. In addition to this funding, Dawn also offers annual scholarships to help defer the cost of tuition.
Students must complete the Free Application for Federal Student Aid (FAFSA). Data from the FAFSA is used in a formula established by the U.S. Congress to determine the student's Expected Family Contribution (EFC) and, ultimately, financial need.
DCI's Financial Aid Representatives will assist you through the following process:
Contact DCI's Financial Aid Department for help in completing all of your required applications and paperwork.
Federal Pell Grant
A Pell Grant is funding provided by the government for students who need it to pay for college. Grants, unlike loans, do not have to be repaid. Eligible students may receive a specified amount each year under this program.
Pell Grant Maximum Amounts depending upon eligibility.
|Award Year:||Maximum Amount:|
|July 1, 2016 to June 30, 2017||$5815|
|July 1, 2017 to June 30, 2018||$5920|
The amount of Federal Pell Grant funds you may receive over your lifetime is limited by federal law to be the equivalent of six years Pell Grant funding. Since the maximum amount of Pell Grant funding you can receive each year is equal to 100%, the six-year equivalent is 600%. A student can monitor how much Pell Grant they have used by accessing the National Student Loan Database System. Once a student reaches 600% they are no longer eligible to receive Pell Grant no matter what school they attend.
Individuals who have obtained a bachelor degree or higher are not eligible to participate in the Federal Pell Grant Program according to Federal guidelines.
Dawn Career Institute
DCI will be awarding five $500 scholarships to graduating high school seniors who will be entering into a program at DCI. One scholarship will be awarded for each program of study at DCI. This scholarship is non-renewable and will be applied evenly to each quarter over the student's enrollment. Click here for details on eligibility requirements, and how you can apply!
DermaMed Solutions Aesthetic Education Award (for students in the Advanced Esthetician program)
DermaMed Solutions, the makers of the MegaPeel EX® microdermabrasion equipment and dmSkincare™ clean clinical skin care line, offers the DermaMed Solutions Aesthetic Education Award - providing up to $1000 to an accredited aesthetic program for educational expenses. Awards are offered four times per year to a chosen recipient. To get started and complete an application, visit dermamedsolutions.com/award.
Federal Direct Loan
Direct loans are financial aid that requires repayment. Students must be enrolled full time and repayment of the loan generally begins within six months after you graduate or if no longer enrolled as a half time student.
There are two types of Direct loans:
Direct Subsidized Loan: A need based loan on which the government pays the interest while the student is enrolled in school at least half time.
Direct Unsubsidized Loan: No financial need is required to be eligible for the unsubsidized loan. A student's total financial aid package though, including the unsubsidized loan cannot exceed the cost of education. Interest does accrue while the student is in school.
Dependent Students: Up to $5,500 for first year (up to $3,500 may be subsidized)
Independent Students: Up to $9,500 for first year (up to $3,500 may be subsidized)
Undergraduate Loan Aggregate Limits:
Direct Subsidized Loan $23,000
Combined Loans $57,000
First Time Borrower and New Student Policy
It is a federal regulation that all first-time borrower's Federal Direct Loan disbursement will be delayed for 30 days after the start of the program.
Federal Direct Loans Maximum Completion Period
If you are a first-time borrower on or after July 1, 2013, there is a limit on the maximum period of time (measured in academic years) that you can receive Direct Subsidized Loans. This time limit does not apply to Direct Unsubsidized Loans or Direct Plus Loans. If this limit applies to you, you may not receive Direct Subsidized Loans for more than 150 percent of the published length of your program. This is called your maximum eligibility period.
Federal Parent PLUS Loan
A low interest loan applied for by parents to pay for the student's educational expenses. The applicant's credit history will be reviewed to determine eligibility for the loan. The interest rate is 6.31%, effective July 1, 2016.
To receive a PLUS loan, your dependent student:
The maximum amount that the parent may borrow under the Federal PLUS loan program, is Cost of Attendance minus any other aid (scholarships, grants, loans, waivers, etc.) received by the student.
The interest rate varies depending on the loan type and (for most types of federal loans) the first disbursement date of the loan.
Interest rates listed below effective 07/01/2017.
|Loan Type||Borrower Type||Interest Rate|
|Direct Subsidized Loan:||Undergraduate||4.45% fixed rate|
|Direct Unsubsidized Loan:||Undergraduate||4.45% fixed rate|
|Direct Plus Loan:||Parent||7.00% fixed rate|
Interest rates become a fixed rate for the life of the loan once the loan has been established. The Department of Education apply loan fees prior to disbursing funds to the school. (Direct loan fees from 10/01/17 to 09/30/18 are 1.066% and PLUS loan fees are 4.264%)
NON TITLE IV FUNDS WHICH MAY BE AVAILABLE
Division of Vocational Rehabilitation (DVR)
This organization provides funding for eligible students who have a physical or mental disability that inhibits them from certain types of work. An appointment for an evaluation by a BVR counselor is necessary and a determination by the BVR office needs to be made before entering any academic program.
Veterans attending DCI may be eligible to receive benefits through the Veterans Administration (VA). Click here for more information. Each VA program has individual requirements for eligibility. Interested candidates can contact the VA at (800) 827-1000.
*Veteran benefits are not available for online or blended** programs.
**Blended programs combine a supportive, hands-on, campus based educational environment with the independence and flexibility of online learning.
Monthly payment arrangements can be made. Payments may be spread over the period of time that the student is in school.