Federal student aid is awarded based on the applicant’s need and factors such as income, assets, and benefits. Financial aid applications and a guide to financial aid are available from MPI Financial Aid. The guide provides general information regarding eligibility, application processes, and Federal financial aid programs.
The Federal Student Aid Award Year is the 12 month period that begins on July 1 of one year and ends on June 30 of the following year. Students may submit a FAFSA for the next award year beginning on January 1. Students receiving a second disbursement after July 1 must submit an updated FAFSA. Students should be aware that this may change their financial aid eligibility.
Students interested in applying for federal financial assistance must complete the Free Application for Federal Student Aid (FAFSA) online at www.fafsa.gov and list our school code OPEID: 042938.
The FAFSA may be completed online at www.fafsa.ed.gov NOTE: Special status and students who do not meet eligibility and/or citizenship status on the FAFSA may not be eligible for federal student financial assistance. For additional eligibility information, please visit https://studentaid.gov/understand-aid/eligibility.
Once a valid and processed FAFSA is received, this information will be reviewed to determine if additional information and updates are required (a process called VERIFICATION). If no additional information or updates are required, the FAFSA will be used to determine a student’s eligibility for various aid programs. Your eligibility will depend on the following items:
Cost of attendance (COA)
Expected Family Contribution (EFC)
Year in school; and
Enrollment status (full, ½ time)
For more information about the FAFSA and how information is used to determine student aid eligibility, amounts, and other detailed information, please visit studentaid.ed.gov.
Students receive a financial aid award letter when their application for financial aid has been processed that states the type, amount, and conditions of financial aid offered. The student must be admitted to MPI, remain in good academic standing, and meet all other general eligibility requirements for student financial assistance.
In addition to the FAFSA, students who anticipate using federal financial aid may also need to complete and submit these documents:
— Master Promissory Note (MPN) (if student loans are being requested).
— Entrance Counseling (if student loans are being requested).
— If selected for verification, a tax transcript from the prior year is required. For example, the 2020-2021 FAFSA verification requires the student or parent’s 2018 tax transcript.
Students are responsible for payment of tuition and course materials fees not covered by federal financial aid prior to the start of each course.
For more information on Title IV Federal Student Aid programs please contact our Director of Financial Aid Karen Nocita at 248-528-1760 or email karen.nocita@motionpicture.edu.
All Direct Loan borrowers at the Motion Picture Institute must complete entrance counseling. Loan counseling can be completed online by visiting https://studentloans.gov/myDirectLoan/index.action.
Additional very useful counseling links can be found here:
Entrance Counseling Parent Plus
Entrance and exit counseling is a federal government requirement that requires students to complete a student loan entrance counseling session prior to obtaining a Federal Direct Loan. The purpose of entrance and exit counseling is to help students understand their rights and responsibilities as a student loan borrower.
A loan simulator is available to help you understand various aspects of the money you are borrowing. It can be found at https://studentaid.gov/loan-simulator/.
Before your loan is allocated to your account, you will need to sign a master promissory note (MPN) which is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of your loan(s). For additional information visit:
MPN for student’s link: https://studentaid.gov/mpn/subunsub/landing
MPN for Parents link: https://studentaid.gov/mpn/
Additional and updated information can always be found by visiting StudentAid.gov.
To be eligible to receive federal student aid, you must:
- Be a citizen or eligible noncitizen of the United States.
- Have a valid Social Security Number. (Students from the Republic of the Marshall Islands, Federated States of Micronesia, and the Republic of Palau are exempt from this requirement.)
- Have a high school diploma or a General Education Development (GED) certificate, or have completed homeschooling. If you don’t, you may still be eligible for federal student aid if you were enrolled in college or career school prior to July 1, 2012. Go to https://studentaid.ed.gov/eligibility/basic-criteria for additional information.
- Be enrolled in an eligible program as a regular student seeking a degree or certificate.
- Maintain satisfactory academic progress (see page 48 of school catalog).
- Not owe a refund on a federal student grant or be in default on a federal student loan.
- Register (or already be registered) with the Selective Service System, if you are a male and not currently on active duty in the U.S. Armed Forces. (Students from the Federated States of Micronesia, the Republic of the Marshall Islands and the Republic of Palau are exempt from registering; see https://sss.gov for more information.)
- Not have a conviction for the possession or sale of illegal drugs for an offense that occurred while you were receiving federal student aid (such as grants, work-study, or loans). If you have such a conviction, you must complete the Student Aid Eligibility Worksheet to determine if you are eligible for aid or partially eligible for aid.
Many types of federal student aid, such as the Federal Pell Grant or subsidized loans where the government pays the interest while you are in college, also require you to have financial need. Additionally, once you have a bachelor’s degree or a first professional degree, you are generally not eligible for Pell or Federal Supplemental Educational Opportunity Grants (FSEOG).
Other requirements may apply. Contact our financial aid office for more information.
Federal Student Aid includes Pell Grants, Subsidized and Unsubsidized Stafford Loans, and Parent PLUS Loans.
Federal Pell Grants:
The Federal Pell Grant Program provides need-based grants to low-income undergraduate students. Financial need is determined by the U.S. Department of Education which is dependent on the student’s expected family contribution, the cost of attendance, the student’s enrollment status, and whether the student attends for a full academic year or less. MPI will advise students as to your eligibility after having completed the Free Application for Federal Student Aid (FAFSA). A Federal Pell Grant does not have to be repaid.
Title IV HEA Pell Grant terms and conditions.
The Federal Direct Loan Program:
The Federal Direct Loan Program is a Student Financial Assistance program provided by of the U.S. Department of Education that provides students with a simple, convenient, and flexible way to borrow money to pay for Postsecondary education. Schools that participate in the Federal Direct Loan Program receive loan funds directly from the U.S. Department of Education and disburse them to eligible students. Direct loans are: simple—borrow directly from the federal government; convenient—access Direct Loan resources and your account information online, 24 hours a day, 7 days a week; flexible—choose from several repayment options.
Federal Student Aid (FSA) will be disbursed in two (2) equal disbursements. Each disbursement will be approximately half (½) of the FSA that the student has been awarded. Since origination fees are charged to Stafford and PLUS loans, disbursements of FSA loan funds will be of the net amount the awarded loan amount.
The first disbursement of Direct Stafford loans will occur approximately thirty (30) days after a student begins attending classes. Pell grants and PLUS loans typically disburse after the 1st week of class. The second and final disbursement will occur once a student has successfully completed 338 clock hours and at least 23 weeks of instruction.
Use this chart to estimate your student loan payment based on the Standard Repayment Plan. Figures have been rounded to the nearest whole dollar and represent minimum payments at the interest rate indicated over a maximum of 10 years, and do not include interest that may accumulate during periods of deferment or forbearance. Lower balances may take less than 10 years to repay at the minimum payment of $50. This chart is for estimating purposes only.
2022-23 Award Year
Federal Direct Subsidized and Unsubsidized Undergraduate Loan rate 4.99%
| Total Debt at Repayment | Monthly Payment Amount | Total Amount Paid | Total Interest Paid |
|---|---|---|---|
| $2,500 | $26.50 | $3,180.50 | $680.50 |
| $5,000 | $53.01 | $6,361.00 | $1,361.00 |
| $7,500 | $79.51 | $9,541.50 | $2,041.50 |
| $10,000 | $106.02 | $12,722.00 | $2,722.00 |
| $16,500 | $174.93 | $20,991.30 | $4,491.30 |
Federal Direct PLUS Loan rate 7.54%
| Total Debt at Repayment | Monthly Payment Amount | Total Amount Paid | Total Interest Paid |
|---|---|---|---|
| $2,500 | $29.73 | $3,567.32 | $1,067.32 |
| $5,000 | $59.46 | $7,134.64 | $2,134.64 |
| $7,500 | $89.18 | $10,701.96 | $3,201.96 |
| $10,000 | $118.91 | $14,269.28 | $4,269.28 |
| $16,500 | $196.20 | $23,544.31 | $7,044.31 |
Federal regulations require an institution to determine all previous Federal Title IV aid received by the student prior to disbursement of funds when a FAFSA is processed. The Central Process System (CPS) matches students against the National Student Loan Data System (NSLDS).
MPI will review all NSLDS data reported by each school at which a student was previously enrolled. Financial aid awarded at other schools could limit the amount of financial aid available at MPI.
Financial need is defined as the difference between the cost of attending school and the student’s (and/or family’s) expected family contribution (EFC). A Central Processor to whom the student’s Free Application for Federal Student Aid (FAFSA) is submitted conducts determination of the EFC, based on federal guidelines. MPI staff then determines the student’s Cost of Attendance. An average cost of attendance for a student attending MPI consists of tuition and fees, room and board allowance, transportation allowance, personal and miscellaneous allowance, and books/supplies allowance. Tuition and direct academic costs are assessed for one academic year.
Living expenses are estimated using nationally approved living expense guidelines. These components of the cost of attendance are estimates and will vary from student to student depending on the student’s living arrangements (students living with parents, roommates, or living on their own).
For specific details on calculating cost of attendance, contact the Financial Aid Director.
The federal need formula can be stated as follows: Cost of Attendance – EFC – estimated financial assistance not received under Title IV = Financial Need. Financial need determines eligibility for different sources of student aid.
If a student receives funding in excess of their tuition and fees, the student may choose to have the credit balance refunded directly to the student. If the credit balance is the result of student loan funds, students may choose to have the funds returned to the lender – doing so will reduce the loan amount.
Credit balances will be refunded per the student’s instructions within 14 days of the credit balance occurring. Payment of credit balances will be made by check. Students who plan to borrow additional funds for living expenses should be aware that funds will not be immediately available. Please refer to the financial aid disbursement schedule for details on when disbursements of aid are expected. Living expense checks will not be issued until a credit balance occurs on the student’s account.
The Department of Education randomly selects students for verification. Students who have had their FAFSAs selected for verification must submit all verification documents within 30 days of being selected for verification.
Applicants who are selected for verification prior to enrollment must complete all verification requirements before the first day of scheduled classes. The U.S. Department of Education encourages students and parents to use the IRS Data Retrieval Tool to import data from their tax return and not change it. It is the most efficient method of meeting verification requirements. If students cannot or will not use the IRS Data Retrieval Tool they must provide an IRS tax return transcript for the student and spouse or parents as applicable. Other documentation may include a signed statement, institutional certification, copy of the tax return, Form W-2, Form 4868, agency documentation, original government issued ID and signed statement of educational purpose or a copy of that ID and the statement notarized. Students will be notified of what documentation is required to meet their verification requirements.
No aid will be disbursed to students until the verification process is complete.
Students who are not meeting MPI’s Satisfactory Academic Progress standards will not be eligible to receive any disbursements of Federal Student Aid (see SAP policies). In such cases, disbursement of aid will be placed on hold until the student has regained a satisfactory academic standing.
Code of Conduct – Student Loans (Direct Loan Program and Certifying Alternative Loan) Motion Picture Institute is a participant in the William D. Ford Federal Direct Loan Program.
Direct Loans are low-interest loans for students and parents to help pay for the cost of a student’s education. The lender is the U.S. Department of Education (the Department) rather than a bank or other financial institution. Though the majority of aid recipients receive loans through the federal programs, private (also called alternative)student loans can be a valuable tool in meeting your educational goals. In processing private student loans the Student Financial Aid Office adheres to the following principles:
1. No fee or material benefits are received from lenders in exchange for the promotion or processing of its loans.
2. No employee of the financial aid office may receive gifts from a lender, guaranty agency or loan servicer.
3. No employee of the financial aid office may enter into a contracting arrangement with a lender or affiliate that provides a fee, payment, or compensation for any type of consulting arrangement or contract to provide services to or on behalf of a lender relating to education loans.
4. The financial aid office will not refuse to certify, or delay certification of any private education loan based on the borrower’s selection of a particular lender or guaranty agency.
5. The financial aid office does not request or accept any staffing assistance from lenders.
6. Financial aid employees are prohibited from receiving advisory board compensation, excepting reimbursement for reasonable expenses incurred. All terms and their usage are as defined in Section 493 of the Higher Education Opportunity Act of August 14, 2008.
Motion Picture Institute Financial Aid Office is committed to providing the highest level of service to its students and their families. We believe that the foundation of our service to students is grounded in the adherence to strict ethical and professional standards. It is our objective to administer the various financial aid programs in accordance with all governmental regulations.
Motion Picture Institute Student Financial Aid Office, in partnership with students (and students’ parents) provides federal and private funds to help defray the cost of education. Student financial aid recipients have a number of responsibilities and rights.
As a student financial aid recipient, it is your responsibility to:
- reapply for financial aid each year by filing the Free Application for Federal Student Aid (FAFSA) and submitting all required documents to the Motion Picture Institute. Financial aid is not automatically renewed each year.
- complete and submit application materials within required or preferred timeframes and check with school Financial Aid Office to ensure all required forms have been submitted.
- provide additional documentation or information as requested by our Financial Aid Office.
- read and understand all materials sent to you from the school and keep copies of all forms you sign.
- comply with the provisions of any promissory note and all other agreements you sign.
- know and comply with the federal, state, and institutional rules governing the financial aid you receive. This information is on the FAFSA, on the materials sent with your financial aid offer, and on the school website. These rules include, but are not limited to, not being in default on any prior educational loan and not owing a refund on a federal grant due to repayment.
- report other sources of student financial aid to the school.
- use student financial aid proceeds solely for direct educational costs and related living expenses.
- know the implications that withdrawing from the school will have on your financial aid.
- maintain satisfactory academic progress (SAP).
- keep your residing and permanent addresses current with the school’s Admissions Office.
- check your canvas assigned account often since information and requests are sent via email.
- pay all previous past due charges appearing on your school bill before financial aid is disbursed for the current session.
- provide the school with up-to-date address for any mailed financial aid issued refunds.
As a student financial aid recipient, you have the right to:
- know the correct procedures for applying for student financial aid, your cost of attendance, and the types of aid available.
- know how financial need is determined, what the criteria are for offering financial aid, how reasonable academic progress is determined, and what you have to do to continue receiving aid.
- know the type and amount of assistance you will receive, how much of your financial need has been met, and how and when you will receive your financial aid funds.
- view the contents of your student financial aid file, in accordance with the Family Education Rights and Privacy Act (FERPA).
- know the conditions of any loan you accept.
- appeal any decision with the school Financial Aid Office in regard to your financial aid application.
Students are responsible to repay, in full, all loans used to pay for their education. Repayment of student loans helps ensure the availability of loan funds for the future. Borrowers are encouraged to take the responsibility of loan repayment seriously.
Some helpful hints on avoiding delinquency are as follows:
- Send in the required payment each month even if a bill was not received.
- Send in larger or additional payments to reduce the amount of interest paid on the loan. Be sure to indicate that the extra amount should be applied to the principal or used as a future payment.
- Remember that overpaying one month does not mean that the next month’s payment can be skipped or reduced.
- Call your lender/servicer immediately if the payment will not be made on time or in cases of financial hardship. The lender/servicer may be able to work out an alternative plan.
- Know deferment rights. After sending in the necessary forms, follow up with the lender/servicer to confirm that the appropriate loan(s) has been deferred.
- Understand the borrower’s rights and responsibilities under each loan program. Keep all paperwork such as promissory notes, lender correspondence, cancelled checks, etc.
- Always call to resolve a discrepancy.
- Never ignore correspondence or requests for payment from the lender/servicer. If a default occurs on the loan(s), despite all arrangements available to prevent this from happening the following repercussions may occur:
- The default status may be reported to a national credit bureau and have a negative effect on credit ratings for seven years.
- Deferment possibilities may be lost.
- Wages may be garnished.
- Federal and state income tax refunds may be withheld.
- Ineligibility status for any further federal or state financial aid funds.
- The entire unpaid amount of the loan, including interest and cost of collection, may become due and payable immediately.
Students may obtain additional information about loan repayment and default prevention guidance from the MPI Financial Aid Office.
Deferment and forbearance are temporary suspensions of repayment. If you are unable to make payments in any amount, deferment or forbearance may be the right option for you.
Refund Policy: MPI student refund policies are compliant with state law and post-secondary authorization licensing rules. All refund policies are printed in the MPI catalog and Enrollment Agreements.
Refund if MPI Cancels Classes: If tuition and/or fees are collected in advance of a start date and the school cancels the classes, all tuition and fees will be refunded.
Refund If MPI Rejects an Applicant: If an applicant is rejected by the school, he or she is entitled to a 100% refund of tuition (0% tuition charged) and all fees.
Students’ Right-To-Cancel: Applicants who have not visited the school prior to enrollment will have the opportunity to withdraw without penalty three business days following either the regularly scheduled orientation procedures or following a tour of the school facilities and inspection of equipment where training and services are provided.
All monies paid by an applicant must be refunded if requested within three business days after signing the enrollment agreement and making an initial payment. An applicant requesting cancellation more than three days after signing an enrollment agreement and making an initial payment, but prior to entering the school, is entitled to a refund of all monies paid minus a $150.00 registration fee.
An applicant may contact the Director of Enrollment or Student Advisor to cancel their enrollment.
Cancellation after the Start of Class: If a student cancels after starting class, student will be liable for the following:
1. The $150.00 registration fee and $150.00 technology fee.
2.Tuition as of the student’s last date of attendance (“the effective date”) based on the refund policy outlined below.
Withdrawal or Termination after the Start of Class and after Cancellation Period:
Student shall be deemed to have withdrawn or terminated from the school once instruction has begun and when any of the following occurs: (1) student notifies the Director of Enrollment or a Student Advisor of his or her intent to withdraw or as of the effective date (last date of attendance) of Student’s withdrawal, whichever is later; (2) declared unofficially withdrawn if student fails to attend program activities for a period of 10 consecutive class days or 14 calendar days or both (3) the school terminates a student’s enrollment for failure to maintain satisfactory progress; failure to abide by the rules and regulations of the school including, the Student Code of Conduct; failure to meet financial obligations to the school; and/or for cause determined within the school’s sole discretion; (4) a student fails to return from an authorized leave of absence.
After the start of class, the following refund amounts apply:
1. A refund calculation will be prepared if a student has completed fifty percent (50%) or less of the period of enrollment of the program.
2. Students will be charged according to the number of weeks attended per the chart below.
3. When determining the number of weeks completed by the student, the institution will consider a partial week the same as if a full week was completed, provided the student was present at least one day during the scheduled week.
4. If student completes more than fifty percent (50%) the entire tuition has been considered earned. If a student is on a payment plan, the student is liable for the full tuition and finance fees per any payment plan agreement which will until completed.
The following policy will apply:
| Weeks Attended | % Earned | Amount Owed to Institution |
|---|---|---|
| 1 | 10% | $1,735.00 |
| 2-8 | 20% | $3,470.00 |
| 9-14 | 30% | $5,205.00 |
| 15-18 | 40% | $6,940.00 |
| 19-23 | 50% | $8,675.00 |
| 24-46 | 100% | $17,350.00 |
Example of Refund:
i. 46 weeks of training begins on September 27th with a completion date of Sept 2nd.
ii. Student is financially responsible for the 46 weeks of training.
iii. Tuition is $17,350.00
iv. Last date of attendance is November 15th
v. Date of determination is November 29th per refund policy
| Number of weeks attended | 7 weeks |
|---|---|
| Tuition paid in advance | $17,350.00 |
| Pro rata portion completed based on chart above | 20% |
| Tuition earned (owed to the school) | $3,470.00 |
| Refunded to the student by January 12th | $13,880.00 |
REFUND RETURN PERIOD
Any applicable refund will be calculated within thirty (30) calendar days of the determination of withdrawal. A return of funds to be issued no later than forty-five (45) days of the date of determination of withdrawal.
INSTITUTIONAL REFUNDS FOR VA CERTIFIED STUDENTS
If a student receiving veterans’ benefits fails to enter a course or withdraws, or discontinues at any time prior to completion, the refund or advanced payments will be an appropriate pro rata portion of the changes for tuition, registration fee less $10.00, and other charges that the length of the completed portion of the program bears to its total length.
RETURN TO TITLE IV POLICY
The Federal Return of Title IV funds formula (R2T4) dictates the amount of Federal Title IV aid that must be returned to the federal government by the school and/or the student. The federal formula is applicable to an eligible student receiving federal aid when that student withdraws at any point in time during the payment period. If a student did not start or begin attendance at the school, the R2T4 formula does not apply.
For Official Withdrawals
Official Withdrawal Process: If a student wishes to withdraw from school, they must notify the Director of Enrollment or a Student Advisor of the school. The notification may be in writing or orally. A student’s withdrawal date is the date the school received notice from the student that they are withdrawing. The date the notification is received is the date of determination. The Director of Enrollment or Student Advisor must begin the withdrawal process.
For unofficial withdrawals a student’s withdrawal date is: their last day of physical attendance.
For Unofficial Withdrawals
The school’s determination that a student is no longer in school for unofficial withdrawals is determined after 10 consecutive class days or 14 calendar days or both of non-attendance.
Return of Title IV Calculation
The federal formula requires a Return of Title IV calculation if the student received or could have received (based on eligibility criteria) federal financial assistance in the form of Pell Grants, Direct Loans, Direct Plus loans, and Iraq Afghanistan Service Grants (IASG) during payment period. The percentage of Title IV aid earned is equal to the percentage of payment period that was completed as of the withdrawal date if this occurs on or before the 60% point of time. The percentage that has not been earned is calculated by subtracting the percentage of Title IV aid earned from 100%.
The percentage of the payment period completed is calculated by the hours scheduled in the payment period as of the withdrawal date divided by the scheduled hours in the payment period.
The amount to be returned is calculated by subtracting the amount of Title IV assistance earned from the amount of Title IV aid that was disbursed as of the withdrawal date.
If a student receives less Title IV funds than the amount earned, the school will offer the student a disbursement of the earned aid that was not received at the time of their withdrawal which is called a post-withdrawal disbursement. Post-withdrawal disbursements will be made from Pell Grant funds first, if the student is eligible. If there are current educational costs still due the school at the time of withdrawal, a Pell Grant post-withdrawal disbursement will be credited to the student’s account. Any remaining Pell funds must be released to the student without the student having to take any action. The funds must be released as soon as possible but no more than 45 days after the date of determination. Any federal loan program funds due in a post-withdrawal disbursement must be offered to the student and the school must receive the student’s authorization before crediting their account.
If a credit balance still exists on the student’s account after the R2T4 and institutional refund calculations are done, that credit balance must be used to pay any grant overpayment that exists based on the current withdrawal within 14 days from the date that the R2T4 calculation was performed. The overpayment must be eliminated prior to offering a credit balance to a student.
For official withdrawals
The following Title IV refund distribution is used for all FSA students due a refund:
1. Unsubsidized Direct Loan
2. Subsidized Direct Loan
3. Direct PLUS Loan (Parent)
4. Federal Pell Grant
5. VA, Vocational Rehab, or other agency as applicable
6. The Student
Returns must be made as soon as possible to the federal programs but no later than 45 days after the date of determination.
The statute requires that a student is responsible for all unearned Title IV program assistance that the school is not required to return. This is determined by subtracting the amount returned by the school from the total amount of unearned Title IV funds to be returned. Examples of the R2T4 policy are available upon request.
TUITION LATE FEES
Tuition payment late fees of 1.5% per month on all overdue tuition payments if student fails to make tuition installment payments on a timely basis (18% APR).
Students receiving federal and state financial aid must meet Satisfactory Academic Progress Standards as outlines in the Course Catalog. For more information on Motion Picture Institute satisfactory academic progress policies see this link.
Direct Loan Exit Counseling is a mandatory information tutorial that is required of all student borrowers who are graduating, withdrawing, or dropping below half-time enrollment. Exit Counseling, which helps prepare students for loan repayment, is required by law, and must be completed online at www.studentloans.gov before graduating student borrowers can receive their certificates.
Additional exit counseling information can be found here: https://studentaid.gov/exit-counseling/
Students must repay their federal student loans even if they:
-
didn’t complete their program of study;
-
can’t find employment after graduation, and/or;
-
aren’t satisfied with the education or other services paid for with federal student loans.
The Financial Aid Office provides Repayment and Default Prevention information to all students who are required to take Exit Counseling. For more information on student loan repayment, click on this link: https://studentaid.ed.gov/repay-loans
Completion of Direct Loan Exit Counseling is documented electronically by the Financial Aid Office. For instructions on completing the exit interview visit: https://studentaid.gov/exit-counseling/.
Students who violate the schools and Title IV and Title IX drug violation policies can review those policies and penalties by selecting this download link: FSA Penalties for Drug Violations.