FINANCIAL AID DEPARTMENT
The goal of the Financial Aid Department at the Motion Picture Institute is to
assist eligible students in applying for and receiving financial aid.
All financial aid paperwork must be submitted to the Financial Aid Department prior to orientation (unless an extension is granted by the Financial Aid Department) or the student may be placed on a cash payment plan. The Motion Picture Institute reserves the right to suspend or administratively withdraw a student who does not meet cash payment obligations.
FEDERAL FINANCIAL AID PROGRAMS
The Motion Picture Institute participates in several federal financial
aid programs. Following are brief descriptions of these programs.
Federal Pell Grant
The Federal Pell Grant program is a type of financial aid that does not require repayment. Funds are awarded based on need, as determined by a standard formula, and are only available to students who do not already have a bachelor’s degree. To apply for a Federal Pell Grant, the student must complete the Free Application for Federal Student Aid (FAFSA) and meet with the Financial Aid Department at the Motion Picture Institute, which will conduct a needs analysis for the student.
Federal Direct Subsidized Loan
The federal Direct Subsidized Loan is a loan made available to students to help fund their education. The federal Direct Subsidized Loan is need-based. In order to apply for this loan, the student must be in need of aid, as determined by a standard formula. Students who wish to apply for a federal Direct Subsidized Loan must complete the Free Application for Federal Student Aid (FAFSA) and meet with the Financial Aid Department at the Motion Picture Institute, which will conduct a needs analysis for the student. Repayment of a federal Direct Subsidized Loan begins six months after the last date of attendance.
Federal Direct Unsubsidized Loan
The federal Direct Unsubsidized Loan is a form of financial aid that is not need-based, although students who wish to apply for a federal Direct Unsubsidized Loan are still required to complete the Free Application for Federal Student Aid (FAFSA) and meet with the Financial Aid Department at the Motion Picture Institute. Repayment of the principal loan amount will begin six months after the student’s last date of attendance. Payment of interest on the unsubsidized portion is the responsibility of the student during school and during the six months prior to the start of repayment of the loan amount.
Federal Direct Plus Loans For Parents (FPLUS)
The federal Direct Plus Loan program is a form of financial aid that is not need-based. Students whose parents wish to apply for a federal Direct Plus Loan are required to complete the Free Application for Federal Student Aid (FAFSA) and meet with the Financial Aid Department at the Motion Picture Institute. Repayment of the federal Direct Plus Loan begins while the student is enrolled, unless other arrangements have been made with the lender.
SCHOLARSHIPS AND ADDITIONAL FUNDING SOURCES
Motion Picture Institute students may also qualify for other sources of funding such as Michigan Rehabilitation Services, United Auto Workers, Michigan Works!, Michigan Education Trust Fund (MET) and several other scholarship opportunities.
For more information regarding scholarships, click here.