Sources of Aid

Financial Aid > Sources of Aid

Sources Of Financial Aid

Your Financial Aid package (if you qualify) may include numerous ways of financing your education.
This is why we have professional financial aid administrators who are experts in the entire process to assist you in funding your education.


Title IV funding through the US Department of Education

Grants – Grants are free money that you do not have to pay back. They are need based. The two types of grants are the Pell Grant and the Federal Supplemental Educational Opportunity Grant (FSEOG.) To apply for these grants a FAFSA form will need to be completed.

Stafford Loans – Student loans do have to be paid back. Your repayment starts 6 months after you graduate or leave school for up to 10 years. There are two forms of loans: the Subsidized Stafford Loan and the Unsubsidized Stafford Loan. The Subsidized Stafford Loan is need based. MTTI will determine the amount you can borrow, and the amount may not exceed your financial need. The U.S. Department of Education pays the interest on a Direct Subsidized loan while you’re in school at  least half-time, for the first six months after you leave school (referred to as a grace period), and during a period of deferment (a postponement of loan payments).

If you receive a Direct Subsidized Loan that is first disbursed between July 1, 2012 and July 1, 2014, you will be responsible for paying any interest that accrues during your grace period. If you choose not to pay the interest that accrues during your grace period, the interest will be added to your principal balance. Direct Unsubsidized loans are available to undergraduate students; there is no requirement to demonstrate financial need. MTTI will determine the amount you can borrow based on your cost of attendance and other financial aid you receive. You are responsible for paying the interest on a Direct Unsubsidized Loan during all periods. If you choose not to pay the interest while you are in school and during grace periods and deferment or forbearance periods, your interest will accrue (accumulate) and be capitalized (that is, your interest will be added to the principal amount of your loan).

Parent Plus Loan – Is available to parents of dependent students. The Parent Plus Loan is credit based and can be borrowed by one or both parents. The Parent Plus Loan is not need based and can not exceed the total cost of attendance. The Parent Plus Loan begins repayment within 60 days of the final disbursement but a parent can request a deferment of payment while the student is attending school.

Scholarships and State Grants

Scholarships Specific to Programs

Building & Property Trades Scholarships
Electrician Scholarships
Medical Assistant Scholarships
HVAC Scholarships
  • Heritage PHCE is offering a pair of $3000 scholarships to be awarded to area HVAC students this December. The simple application process is open now and involves answering a few questions and can be found at Heritage PHCE Scholarship. Students studying to work in the HVAC field are encouraged to apply.
  • Students in or applying to the HVAC/R Technician program can apply for a scholarship through the mikeroweWORKS Foundation:

State Assistance

MTTI works very closely with local agencies that assist candidates in financing their education.

  • WIOA (Workforce Innovation and Opportunities Act)
  • TRA (Trade Reinvestment Act)
  • ORS (Office of Rehabilitation Services)
  • NRI (Network Rhode Island)
  • DHS (Department of Human Services)

Veterans / Military Benefits

Information about Veterans Benefits

Cash Payments

  • MTTI offers affordable interest free payment plans to pay directly to the school. There are 4 options to choose from. If a payment plan is needed and as part of your financial aid appointment the financial aid administrator will go over each option.