 Financial Aid
[Getting Started]
[Terms & Definitions]
[Federal
Aid]
[State
Aid]
[Scholarships]
[Reimbursement
Programs]
[Other
Funding]
[Alternative
Loans]
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's New Castle Campus 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 Aug. 1st of
each year for first-time applicants. You can complete the FAFSA one of three
ways:
- Online at www.fafsa.ed.gov.
This is the fastest, easiest way to apply.
- In paper form.
Applications are available in the EBC New Castle Financial Aid
Office, in high school guidance offices and by calling 1-800-4FED-AID.
- Renewal. If you
completed a FAFSA in the previous year, a renewal should be sent
to you automatically.
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 New Castle Financial Aid
office is ready to help. Contact us:
- By telephone:
724/658-9066, or 1-800-722-6227
- By FAX: 724/658-3083
- In Person: EBC
New Castle, 170 Cascade Galleria, New Castle, PA 16101
NOTE: For up-to-date information about EBC tuition
and fees, e-mail Admissions.
 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. A scholarship does not have to be repaid if the
student maintains eligibility.
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
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 post secondary 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.
PLUS LOANS
These credit-based loans are made available to parents of dependent students.
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. For more information, go to www.pheaa.org
Scholarships
A number of scholarships are available to EBC students who meet specific criteria.
You can also go to www.fastweb.com to
search more than 600,000 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)
- Workforce Investment Act
- Trade Adjustment Act (TAA)/Trade
Readjustment Act (TRA)/NAFTA
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