All loans are processed through the financial aid office.
Millie Verecky Memorial Scholarship (Available to Ohio High School Seniors)
This scholarship is available to high school seniors only. Awards are not need-based. A committee will determine eligibility based upon students graduating GPA and/or graduating rank.
|GPA and/or Rank||Award Amount|
|Valedictorian or Co-Valedictorian||$1,000|
|Salutatorian or Co-Valedictorian||$500|
|Graduating GPA of 3.5 or higher||$250|
Scholarships are awarded as tuition credit in the first semester. The recipient must matriculate in the fall semester following graduation. Applications must be received no later than August 1st. An official copy of the high school transcript must be received no later than August 1st. Recipients of awards will be notified by phone no later than August 5th.
This scholarship is available to high school seniors who enroll in a diploma or degree seeking program. Awards are not need-based. A committee will determine eligibility based upon a student’s graduating GPA of 3.0-3.5. Scholarships are awarded as a tuition credit of $250.00 each semester for a total of no more than $1, 500.00. The recipient must matriculate in the fall semester following graduation. It is renewable each semester, provided the student maintains a 3.0 GPA at ETI. Applications must be received no later than August 1st. An official copy of the high school transcript must be received no later than August 1st. Recipients of the awards will be notified by phone no later than August 5th.
The U.S. Department of Education Title IV programs available are:
- Federal Pell Grants
- Federal Supplemental Educational Opportunity Grant
- William D. Ford Direct Loans: Subsidized, Unsubsidized, PLUS
Federal Pell Grant (FPELL)
This program makes funds (which need not be repaid if the semester is completed) available to eligible students attending a nationally accredited college. It is estimated that your grant will range from $0 – $6,495.00 per academic year. To determine if you are eligible, the U.S. Department of Education uses a standard formula, established by Congress, to evaluate the information your report when you apply. The formula produces an Expected Family Contribution (EFC) number. Your Student Aid Report (SAR) contains this number and will tell you if you are eligible. The first step to complete an aid application (FAFSA) is to obtain a FSA User ID & Password. You will need a valid e-mail address to receive the FSA User ID. Dependent students (as determined by the Department of Ed guidelines) will need a parent to apply as well. Next, you will proceed to fafsa.ed.gov to start the Free Application for the Federal Student Aid (FAFSA). Make sure you choose the 2022/2023 tab. Complete all sections based on the directions provided on the site. Individual income information based on 2020 tax returns (student and parent) can be downloaded to the application directly from the IRS by use of the FSA User ID. This is the preferable method for 2022/2023. The code for ETI is 030790. You must also indicate a housing plan. When you have completed all necessary fields, you will be asked to declare that your information is true and then sign with your FSA User ID. A confirmation screen will come up which you should print for your records. You will receive a Student Aid Report through your e-mail.
Federal Supplemental Educational Opportunity Grant (FSEOG)
This federal grant is available to Pell-eligible students with exceptional need subject to availability. It is subject to the Return of Title IV funds if you do not complete the scheduled term.
Federal Stafford-Subsidized (FSL)
Federal Stafford Loans are low interest loans made to students attending school at least half-time. These loans are through the William D. Ford Direct Loan Program. Students may qualify for the “subsidized” Federal Stafford Student Loan, which is based on financial need. Eligible students can also get an “unsubsidized” Federal Stafford Loan regardless of need. In subsidized money, eligible students may borrow up to $3,500.00 for the first year and $4,500.00 for the second year. The interest will be deferred while you are attending school and at least half-time by federal standards. REPAYMENT begins 6 months after graduation, termination, or less than half-time enrollment. Minimum payment amounts are based on outstanding principal balance. Interested rates are fixed at 3.73%. There is a 1.057% guarantee and origination fee on each loan through October 2022. A choice of repayment schedule is offered.
Federal Stafford-Unsubsidized (FSLU)
The “unsubsidized” loan is the same as above but, eligible students may borrow up to $6,000.00 per academic year and interest is NOT subsidized while attending school. Interest rates are fixed at 3.73%. Dependent students will only qualify for up to $2,000.00 per academic year. This is a fixed-interest loan that accrues interest from the time it is disbursed, on the portion that is disbursed, and until it is paid in full. The total amount for both programs cannot exceed $9,500.00, for the first year.
Federal Parent Loan (Plus)
Federal PLUS Loans enable PARENTS with good credit histories to borrow for each child who is attending at least half-time and is a dependent student. The yearly loan limit is your cost of education minus any estimated financial aid for which your child is eligible. There is a 4.228% guarantee and origination fee through October 2022. Interest rates are fixed at 6.28%. Dependent students whose parents are denied the Federal PLUS Loan may be eligible for an additional $4,000.00 in unsubsidized (FSLU) Loan money.