Welcome to PIMS Financial Aid Services
The financial aid office at Pittsburgh Institute of Mortuary Science (PIMS) is here to help you through the sometimes complicated process of applying for financial aid. Please follow the process listed below, and if you have any questions or concerns, feel free to contact the financial aid office at krocco@pims.edu.
Procedures for Applying for Financial Aid
All students first need to complete the Free Application for Federal Student Aid (FAFSA). This needs to be completed for every year that the student seeks financial aid. This form can be completed online at www.fafsa.ed.gov. Prior to completing the FAFSA you will need to apply for a pin number at www.pin.ed.gov. You will need the pin for yourself and your parent (if dependent), to sign the FAFSA electronically. PIMS' federal school code is 010814.
The FAFSA will determine if you are eligible for any federal grant aid. The information is also forwarded to your state (if that state has a grant program) to determine if you are eligible for a State Grant. If you are a Pennsylvania student, the Pennsylvania Higher Education Assistance Agency (PHEAA) must receive your FAFSA information by May 1 of every year for you to be considered for a state grant, so it is important to complete your FAFSA early.
Once you have completed your first FAFSA, the US Department of Education will e-mail you (usually in Jan/Feb) when it is time to complete a FAFSA for the next year. For FAFSA purposes, a year runs from July 1 through June 30 of the following year.
If you are interested in a student loan, you must complete a Master Promissory Note (MPN). You may complete this form electronically at www.aessuccess.org.
If you are chosen for verification by the US Department of Education, you will be contacted by the financial aid office and will be required to submit the following documentation:
Verification Worksheet
Signed copy of parent's 1040 from the previous year (if dependent)
Signed copy of your 1040 from the previous year
Until the verification process is considered complete you will not be awarded any financial aid.
Types of Aid Available
There are three primary types of student financial aid:
Grants – monetary awards that are based on financial need and do not need to be repaid
Scholarships – monetary gifts that do not need to be repaid
Loans – monetary awards that are either need or non-need based and must be repaid
Grants and Scholarships
Federal Pell Grant – need-based award from the federal government for both full time and part time undergraduate students.
Federal Supplemental Education Opportunity Grant (FSEOG) – need-based award from the federal government for both full time and part time undergraduate students.
Academic Competitiveness Grant (ACG) – need-based award from the federal government for full time undergraduate students only. Students must be Pell Grant eligible to receive this grant. Students must also have completed a rigorous secondary school program of study after January 1, 2006. In addition, the student must be a U. S. citizen, enrolled in a degree-granting program and enrolled in their 1st or 2nd year of academic study.
State Grant – need based award from the state of the student's legal residence. Not all states offer grant programs.
American Board Scholarship – need and merit-based gift awarded by the American Board of Funeral Service Education. Selections are made by the Scholarship Committee of the American Board of Funeral Service Education. For more information please visit the website at www.abfse.org.
Pittsburgh Institute of Mortuary Science Scholarship- need and merit-based gift awarded by Pittsburgh Institute of Mortuary Science. These selections are made by the Scholarship Committee of the American Board of Funeral Service Education but funded by Pittsburgh Institute of Mortuary Science. The application procedure is facilitated through the American Board of Funeral Service Education. For more information please visit the website at www.abfse.org.
Loans
Subsidized Stafford Loan – need-based portion of the Stafford Loan. It is interest-free during the time that the student is enrolled at least half time. When a student is no longer enrolled at least half-time, it currently has a fixed interest rate of 6.8%. Students can borrow $3500 for 1st year, and $4500 for second year loans.
Unsubsidized Stafford Loan – non-need-based portion of the Stafford Loan. This loan provides additional funding for the independent student, and for the dependent student whose Parent PLUS loan has been denied. This loan accrues interest during the student's in-school status, and currently the interest rate is fixed at 6.8%. Students can borrow $4000 per year.
Parent PLUS Loan – loan for the parents to apply for funds for their child's educational costs. Repayment begins 60 days after the last disbursement of the loan. Currently the interest rate is fixed at 8.5%.
Alternative Loans – loans for students who need additional funding for educational purposes. Please contact krocco@pims.edu for additional information.
Once the student's financial aid package has been completed, an award letter will be e-mailed to the student. This letter will list the amount of each award and the date that it is expected to be received at the school. A student must sign and return one copy of their award letter prior to receiving any financial aid.
Below are additional links for more information on financial aid:
www.studentaid.ed.gov
www.educationplanner.org
www.collegboard.com
www.finaid.com
www.salliemae.com
www.fin-aid.org
