Financial Aid
Making Education Affordable
Taylor Business Institute’s goal is to ensure that education remains affordable for all students. To achieve this, the college maintains tuition at the lowest possible rate and implements a fee structure that covers only essential student services. Students attending Taylor Business Institute who are eligible to participate in federal student aid programs will often find that, after applying their eligible aid, their cost to attend is covered with little or no loans. To determine the amount of aid for which an applicant may be eligible, please make an appointment with the Financial Aid Office.
Taylor Business Institute is approved by the U.S. Department of Education to participate in the federal financial aid programs. This approval allows eligible students to receive assistance through one or more federal programs.
Tuition discounts are available to students who have the ability to fully fund their education without taking loans or grants. For more information, contact the Financial Aid Office or the International Student Advisor.
Federal Student Aid Programs
Students with demonstrated need may be able to combine awards from one or more of the following aid programs based on the alignment of their personal circumstances with the terms and purposes of the awards.
Program Offerings
- Accounting Technician Degree Program
- Electronics Engineering Technology Degree
- Medical Billing and Coding Specialist
- Criminal Justice and Security Administration
- Information Technology & Networking
- English as a Second Language (ESL)
- USMLE Preparation Courses
- Short Term Courses/Certifications
- General Education
- Net Price Calculator
Federal Pell Grants
A Federal Pell Grant is a form of need-based federal student aid that does not require repayment. It is available only to eligible undergraduate students. The award amount is based on a student’s Student Aid Index (SAI), the Cost of Attendance (COA) at their institution, and their enrollment status (full time or part time). A student may receive Pell Grant funds from only one institution at a time.
FSEOG Program
The FSEOG is a federal grant awarded to undergraduate students who demonstrate financial need. This award does not require repayment. Funding is limited and awarded through the college’s Financial Aid Office.
Federal Work-Study Program
The Federal Work-Study (FWS) Program provides part-time employment opportunities for eligible students with financial need. Students may work up to 20 hours per week. Jobs may be located on campus or with approved off-campus employers.
Direct Subsidized and Unsubsidized Loans
Federal Direct Loans are low-interest student loans provided by the U.S. Department of Education to help cover the cost of higher education. They are available to eligible undergraduate students enrolled at least half time. Loan funds are disbursed through the college, and repayment is made to the Department of Education or one of its loan servicers.
Direct Subsidized Loans
Direct Subsidized Loans: For eligible undergraduate students with financial need. The U.S. Department of Education pays the interest while the student is enrolled at least half-time, during the grace period, and during deferment.
Direct Unsubsidized Loans
Direct Unsubsidized Loans: Available to both undergraduate and graduate students and is not based on financial need. The student is responsible for all interest, which accrues from the time the loan is disbursed.
Federal Direct PLUS Loans
Federal Direct PLUS Loans are unsubsidized loans offered by the U.S. Department of Education to parents of dependent undergraduate students. Borrowers must meet specific eligibility requirements. Loan funds are disbursed through the school and must be repaid with interest. If a parent of a dependent undergraduate student is denied a PLUS Loan, the student may qualify for additional Direct Unsubsidized Loan funds.
Scholarships and Tuition Discounts
Level Playing Field Scholarships
Level Playing Field is a not-for-profit 501(c)(3) organization that supports the mission of Taylor Business Institute by providing scholarships, technology, and support services such as mentoring and counseling. Contact the Financial Aid Office for more information.
Frequently Asked Questions
Entrance and Exit Counseling for Federal Student Loans
You must complete both entrance and exit counseling as a condition of receiving any federal student loan awards. Information on these processes is available through the Financial Aid office.
Responsible Borrowing
Taylor Business Institute believes that access to federal financial aid is a privilege that enables students to pursue higher education. The college encourages students to borrow responsibly and only to the extent necessary.
Taylor Business Institute believes that access to federal financial aid is a privilege that enables eligible students to begin or continue their education. The college further feels that this privilege should never be abused as abuse could lead to unnecessary indebtedness for the borrower and potentially jeopardize this opportunity for other students. It is in this spirit of both privilege and responsibility that Taylor Business Institute encourages its students to borrow responsibly and use only the aid required. Please remember, students are requested to not add unnecessarily to their debt burden. Loans are not gifts and must be repaid with interest.
Repayment of Federal Student Loans – Don’t Default
If you are a federal student loan recipient, there are two key points to remember:
1. The interest you pay is low because the federal government subsidizes the rate.
2. If you are a student borrower, you don’t have to begin repaying your Stafford Loans until you leave school or become less than a half-time student. As favorable as these terms are, you shouldn’t forget that you must repay your loans. Failure to do so will result in your loans being declared delinquent or in default. This will have a negative impact on your financial status and creditworthiness. Defaulting on your federal student loans can have serious consequences. For more information on loan repayment options and the risks of default, visit studentaid.gov/repay-loans. The first step in seeking federal student aid is completing the Free Application for Federal Student Aid (FAFSA). Information provided by the student is used to determine eligibility. Students may complete the FAFSA with the college’s Financial Aid Office or online at https://studentaid.gov/h/
