financial aid FAQ

• What Financial aid is available to Jung Tao School students?

• What is the difference between subsidized and unsubsidized loans?

• What are Stafford Loans?

• What is a Graduate Plus Loan?

•Is Jung Tao School a clock-hour school?

• What is the Dept. of Education definition of a school year at a clock-hour school?

• What is the standard minimum loan period for a clock-hour school, as determined by the Department of Education?

• If I have a bachelor’s degree, how much aid am I eligible to receive?

• If I have do not have a bachelor’s degree, how much aid am I eligible to receive?

• How is government financial aid money disbursed?

• Will the government financial aid cover all of my tuition and fee expenses at Jung Tao School?

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What Financial aid is available to Jung Tao School students?

Jung Tao School students are eligible to apply for the following loans.

• Stafford Loans--subsidized
• Stafford Loans--unsubsidized
• Graduate PLUS loans

What is the difference between subsidized and unsubsidized loans?

Subsidized loans are awarded based on financial need. No interest will be charged on the loan before repayment begins, or during periods of authorized deferment. The federal government "subsidizes" (or pays) the interest during these times.

Unsubsidized loans are not awarded based on financial need. Any eligible student can take out Unsubsidized Stafford Loans. Eligibility is based on the student’s credit rating. Interest will be charged on the loan from the time the loan is disbursed, to the time the loan is repaid in full.

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What are Stafford loans?

Stafford Student Loans are federal loans made to college and university students to supplement personal and family resources, scholarships, grants, and work-study. They may be subsidized by the U.S. Government, or may be unsubsidized.

Stafford Loans-subsidized

• This is a subsidized student loan offered by the federal government.
• Eligibility for this loan is based on the student’s financial need and other specific requirements.
• Acceptance for the loan is not based on credit.
• The loan has a low, fixed interest rate.
• Interest is not charged on the loan while the student is enrolled in school.
• There is a six-month grace period after graduation during which no interest is charged.
• Interest is not charged during authorized periods of deferment.
• The student is not required to make payments on the loan while he/she is enrolled in school, or in authorized deferment.

Stafford Loans-unsubsidized

• This is an unsubsidized student loan offered by the federal government.
• It is not based on financial need.
• Interest will accrue from the time the loan is disbursed.
• The student is not required to make interest or principle payments while enrolled in school.
• There is a six-month grace period after graduation, during which the student is not required to make payments on the loan.
• The student can begin paying on the interest and principle of the loan at any time, to save money.

What is a Graduate PLUS loan?

Graduate PLUS Loans

• Grad PLUS loans are offered by the federal government.
• Grad PLUS loans are credit based, similar to a private student loan.
• Grad PLUS loans have a fixed interest rate and federal guarantee.
• Grad PLUS loans can be deferred while a student is enrolled in school.
• Interest may be tax deductible for some graduate students.

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Is Jung Tao School a clock-hour school?

Yes. Jung Tao School is a clock-hour school. Our program clock-hours are as follows:

YEAR
CLOCK-HOURS PER YEAR
CUMULATIVE CLOCK-HOURS

What is the Dept. of Education definition of a school year at a clock-hour school?

The Department of Education defines a school year at a clock-hour program as a minimum of 900 clock hours. This means that two years of the JTS acupuncture program are defined as one clock-hour school year.

What is the standard minimum loan period for a clock-hour school, as determined by the Department of Education?

The standard minimum loan period at a clock-hour school is one school year as calculated by the Department of Education. By Dept. of Education definition, one clock-hour school year is two Jung Tao school years. This means that there are 2 loan periods for the 4-year JTS acupuncture program.

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If I have a bachelor’s degree, how much aid am I eligible to receive?

If you have a bachelor’s degree or higher, you are eligible for $8500 subsidized, and $12,000 unsubsidized for each of the two loan periods. These amounts refer to the Stafford loans.

If I have do not have a bachelor’s degree, how much aid am I eligible to receive?

If you do not have a bachelor’s degree, but have completed 60 credit hours at a regionally accredited institution, you are eligible for $5500 subsidized, and $7000 unsubsidized during the first loan period (Years 1 & 2).

During the second loan period (Years 3 & 4), you are eligible for $8500 subsidized, and $12,000 unsubsidized.

These amounts refer to the Stafford loans.

How is government financial aid money disbursed?

Because the loan period for Jung Tao School students is two school years, half of the money awarded to you will be disbursed during the first year, and half will be disbursed during the second year.

Will the government financial aid cover all of my tuition and fee expenses at Jung Tao School?

Each student’s financial situation is different. Therefore, some students will qualify for enough money to cover all expenses, and some students will not.

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