Financial Aid
Getting Started
Yes, getting a good education can be expensive, but cost doesn't have to get in the way of your plans and dreams.
More than 80% of the students at Erie Business Center receive some form of financial aid. There's a good chance an aid package exists for you.
What's your first step? Complete the Free Application for Federal Student Aid (FAFSA). This will be your application for many types of federal and state aid. The state grant application deadline for Pennsylvania residents is May 1st of each year for renewal applicants, and August 1st of each year for first-time applicants. You can complete the FAFSA one of two ways:
- Online at www.fafsa.ed.gov.
- Renewal. Renewal reminders are sent from the Department of Education to each student who completed FAFSA in the previous year
If you need help call the financial aid department at 814-456-7504 ext. 116 to make an appointment
Need more information? Visit www.studentaid.ed.gov for great facts on applying to school and various forms of financial aid. You can also complete your FAFSA at this site.
Think you can't do this? Go to www.youcandealwithit.com for tools and resources that will help you plan your financial future, including ways to budget and prepare for school.
Still have questions? Look through the financial aid information on our site and visit the links above. If you have further questions, the EBC Financial Aid office is ready to help. Contact us:
By e-mail: Financial Aid (heidi.salusky@eriebc.edu )
By telephone: (814) 456-7504, Ext. 115 or 1-800-352-3743
By FAX: (814) 459-3701
In Person: Founders Hall, Erie Business Center, 220 W. Ninth St., Erie
NOTE: For up-to-date information about EBC tuition and fees, e-mail our Admissions staff (admissions@eriebc.edu).
Terms and Definitions
Financial aid comes in different forms. It can help to know some basic terms and definitions.
GRANTS: These are monetary gifts to qualifying students to be used for educational expenses. Grants do not have to be repaid.
LOANS: These are monies borrowed for the purpose of education. Loans must be repaid.
SCHOLARSHIPS: These are monetary awards made to students who meet the criteria of the given scholarship fund. These scholarships are awarded in amounts up to $5,000, depending on whether a student is pursuing an associate in specialized business (ASB) degree or shorter-term diploma program. A scholarship does not have to be repaid if the student maintains eligibility.
WORK STUDY: These are monies that qualifying students may earn through employment in special work-study positions on campus or in the community.
OTHER FUNDING: These are funds available to students as a result of special circumstances such as military service, employment status or other situations.
Federal Aid
PELL GRANT * SEOG GRANT
These types of aid are awarded on the basis of financial need. You may be considered for these once you have completed and submitted a FAFSA at www.fafsa.ed.gov.
STAFFORD LOANS
These guaranteed student loans are available to students enrolled at least half time in postsecondary education. You must complete the FAFSA, as well as the Master Promissory Note, to apply. Loan limits vary for dependent and independent students. There are two types of Stafford Loans:
Subsidized: The federal government will pay the interest on these loans, during the period of enrollment through a six-month grace period, provided you are enrolled at least half-time and make satisfactory academic progress.
Unsubsidized: The student is responsible for all interest that accrues on these loans; however, the interest may capitalized and paid when you enter repayment.
Following graduation, the student has a six-month grace period after which repayment must begin. You may have from 10 to 30 years to repay the loan.
Apply for a Stafford loan online
ACG GRANTS
ACG grants are awarded to students who show a financial need and successfully graduated from a rigorous high school program after 2005. Students who meet the eligibility requirements can receive up to $750 for their first year of study and up to $1300 for their second year of study. A 3.0 GPA is required to receive a second year award.
PLUS LOANS
These credit-based loans are made available to parents of dependent students.
WORK STUDY
Erie Business Center receives a limited amount of Federal Work Study funding each year, allowing qualifying students to earn income though a work study position.
State Aid
PHEAA PROGRAMS
Pennsylvania State Grants are made available to residents of the state who demonstrate financial need as determined by the Pennsylvania Higher Education Assistance Agency (PHEAA). Although this financial aid is provided through the state, you must still complete the FAFSA to be considered. Other financial aid offered through PHEAA includes Loans and Work Study Programs. For more information, go to www.pheaa.org.
NETS Scholarships are available to students pursuing an education in the Information Technology, Medical Assistant or Medical Coding and Billing fields.
Scholarships
A number of scholarships are available to EBC students who meet specific criteria. You can also go to www.fastweb.com or www.educationplanner.org to search more scholarship opportunities.
Reimbursement Programs
Don't forget about employer reimbursement/tuition assistance programs as a potential source of funds. If you are employed, your company or organization may offer reimbursement of some educational expenses. If you are a dependent student and your parents have reimbursement benefits through their employer, ask them to look into whether those benefits might extend to you.
Other Funding
Sometimes, funds are available to students from government-related and other organizations, based on special circumstances that may include previous military service, employment status or other personal or professional situations. These funding resources may include:
Veterans Educational Benefits (GI Bill/DEAP/VEAP/EAP)
Office of Vocational Rehabilitation (OVR)
Blind and Visual Services
Workforce Investment Act
Trade Adjustment Act (TAA)/Trade Readjustment Act (TRA)/NAFTA