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Financial Aid

Financial Aid Overview

We understand that your education is an investment in yourself, your future, your goals and your dreams.

During our admissions process each applicant will have an individual meeting with a Financial Aid Administrator to assist you in trying to make those goals and dreams a reality. We also understand that the financial aid process can be confusing and stressful. As part of this meeting, the Financial Aid Administrator will go over documentation, explore Financial Aid options that you may qualify for and review an estimated award package for each applicant.

Frequently Asked Financial Aid Questions

Q. How do I apply for financial aid?
A. You must complete a Free Application for Federal Student Aid (FAFSA) form. You can complete the FAFSA on-line at studentaid.gov. The FAFSA form is the only form required for applying for financial aid.

Q. When do I meet with a Financial Aid Administrator?
A. The first step is to meet with an Admissions Representative. Once, you have completed the application process then the next step is meeting individually with a Financial Aid Administrator.

Q. Is financial aid free money?
A. Financial Aid (if you qualify) may consist of both free money in the form of grants and/or money that must be paid back in the form of loans. Student loans are money that you borrow and must be paid back but you do not start making payments until six months after you graduate or leave school. You have up to 10 years to pay back your student loans. If you would like to pay off sooner than the 10 years there is no penalty. Federal Stafford Student Loans do NOT require a credit check.

Q. Why do I have to involve my parent when applying for financial aid?
A. As part of the federal requirement passed by congress a student may be considered dependent or independent by answering all the questions in step 3 of the FAFSA form. If all the answers in step 3 are answered “no” then parent information must be obtained on the FAFSA form. A parent must also be in attendance for the financial aid appointment.

Q. What are the current interest rates for Loan Re-Payment?
A. The following are the interest rates as per the Electronic Announcement.
 

Federal Student Loan Origination Fees

Direct Unsubsidized Loan 1.057%
Direct Parent PLUS Loan 4.228%

 

Federal Student Loan Interest Rates for 2024-25

Loan Type

Undergraduate
Students

 First 
Disbursed 
On/After 		 First 
Disbursed
Before 		 2024 – 25
Fixed Interest 
Rate 
Direct
Subsidized 
 		 7/1/24 7/1/25 6.533%
Direct 
Unsubsidized
 		 7/1/24 7/1/25 6.533%
Direct
PLUS
 		 7/1/24 7/1/25 9.083%

 

Read more about sources of financial aid. To determine an estimated loan amount you can use The Net Price Calculator. To meet with a Financial Aid Administrator to explore all your financing options, please contact an Admissions Representative.

Verification is a federal process regulated by the US Department of Education to confirm information provided on the Free Application for Federal Student Aid (FAFSA).  For MTTI’s Verification Policy, please click here.

In compliance with Public Law 102-26, information on campus crimes is reported for your review. View MTTI Crime Statistics for the Seekonk, MA Campus and the East Providence, RI Campus.

Title IX Non-Discrimination & Grievance Process Policy

For information about MTTI’s Title IX policy and how to make a complaint of an alleged Title IX violation, please go the Health & Safety Section of the Student Resources page.

Pell Grants & Students by Race/Ethnicity and Gender Program Year 2017-18 

Of 484 students enrolled between July 1, 2017 to June 30, 2018, 71% received Pell Grants. To view the statistics about students enrolled at MTTI during this program year, please click here.

Satisfactory Academic Progress

For information about Satisfactory Academic Progress, please click here.

Refund Laws & Policy

To read the Refund Law of The Massachusetts Division of Occupational Licensure, Office of Private Occupational Schools 230 CMR 15.04 (6) please click here.

To read MTTI’s Refund Policy, please click here.

To view an R2T4 Calculation Example For Return of Title IV Funds, please click here.

To read: The Treatment of Title IV Funds When A Student Withdraws, please click here.