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Myotherapy Institute - Nebraska Massage Therapy School, Facials, Day Spas, Bare Minerals
 
 
 

Loan and Grants

Loan and Grants

Pell Grant

The Pell Grant is a grant from the federal government that does not have to be paid back. The grant may only be awarded to undergraduate, degree-seeking students who have not already obtained a bachelor's degree. The award amount is based on a student's financial need as determined by the Free Application for Federal Student Aid application.

Federal Direct Stafford Loan

The Federal Direct Stafford Loan program enables students to borrow from the U.S. Department of Education. The loan amount is limited to the cost of education minus EFC, and in some instances minus other financial aid the borrower is expected to receive for the loan period.  Dependent, first-year students may borrow a maximum of $5,500 per school year. Dependent, second-year students may borrow a maximum of $6,500 per school year (subject to other restrictions per federal regulations). Independent, first-year students may borrow a maximum of $9,500 per school year. Independent, second-year students may have a loan limit of $10,500.

Federal Direct Parent Loan (PLUS)

The Federal Direct PLUS is for parent borrowers of dependent students and provides additional funds for educational expenses. Federal Direct PLUS loans enable parents with good credit histories to borrow for each dependent child who is enrolled at least half-time. Federal Direct PLUS loans are made by the U.S. Department of Education. Applicants do not have to show financial need, but must undergo a credit analysis. Repayment begins within 60 calendar days of disbursement, and deferments are available under certain conditions. Federal Direct PLUS loans cannot exceed the College's estimated cost of education minus other financial aid. Parents may apply for a PLUS loan at: www.studentloans.gov.

National Farmworker Jobs Program

This is a grant from the Department of Labor that assists those who have done seasonal or migrant farm-work in the last two years. Unlike student loans this is a grant and therefore does not have to be paid back. This grant can only be considered by students who are only planning on obtaining a two-year degree or less. This grant can assist its students with tuition, books, tools, and a weekly stipend for time spent in the classroom. For more information, visit www.proteusinc.net.

CARES Act

Myotherapy Institute (OPE ID: 03279300) received education stabilization funds under Section 18004(a)(1) of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), Public Law No: 116-136. This Fund Report applies to the student portion received under the Higher Education Emergency Relief Fund that is designated exclusively for emergency financial aid grants to students.  

The institution has received these funds and is distributing them in accordance with the CARES Act and implementing guidance.  

The institution is making the below information available for transparency purposes and in compliance with the U.S. Department of Education’s (“Department”) Electronic Announcement.

1. The institution signed and returned to the Department the Certification and Agreement [for] Emergency Financial Aid Grants to Students. The institution has used, or intends to use, no less than 50 percent of the funds received under Section 18004(a)(1) of the CARES Act to provide emergency financial aid grants to students.

2. The total amount of funds that the institution will receive or has received from the Department pursuant to the institution’s Certification and Agreement [for] Emergency Financial Aid Grants to Students is $23,762.

3. The total amount of emergency financial aid grants distributed to students under Section 18004(a)(1) of the CARES Act as of the date of this Fund Report is $23,762.

4. The estimated total number of students at the institution eligible to participate in programs under Section 484 in Title IV of the Higher Education Act of 1965, and thus eligible to receive emergency financial aid grants under Section 18004(a)(1) of the CARES Act, as of the date of this Fund Report is 10.

5. The total number of students who have received an emergency financial aid grant under Section 18004(a)(1) of the CARES Act as of the date of this Fund Report is 10.

6. The methods used by the institution to determine which students receive emergency financial aid grants and how much they would receive under Section 18004(a)(1) of the CARES Act are as follows: Funds were distributed to all students equally (due to rounding some received $1 more) who met the following requirements:

  • Title IV elegible
  • Enrolled and attending as of March 16, 2020
  • Student signed a Certification Form stating that the student has been financially affected by COVID-19 and will use funds for expenses stipulated in the CARES HEERF Policy set forth by the US Department of Education

7/7/20 45 day report - No Change

Updated 7/31/20