Financial Aid in the Miami Area
The Financial Aid office helps students in the Miami, FL, area handle the costs associated with the diploma and associate degree programs offered at The Praxis Institute at our campuses in Miami and Hialeah, FL. Our career-minded students appreciate that we are approved by the Department of Education to provide Title IV funding. In other words, if you are qualified and eligible to apply for government assistance, you may receive federal student aid to attend our healthcare training programs.
What Is Financial Aid?
Student financial aid programs provide funds to help students and their families afford the pursuit of their educational goals. In most cases, students must also contribute income and assets to pay for their education. Loans, grants, and scholarships are used to help bridge the gap between what students can afford and the cost of attending their program at The Praxis Institute. A net price calculator is available to provide students and families with an online device to calculate the approximate costs of programs at The Praxis Institute.
Types of Financial Aid
Potential students must first apply to The Praxis Institute and become accepted into a healthcare training program. In addition, our students are required to maintain satisfactory academic progress to receive student aid. As part of the admission process, students who need financial aid are encouraged to apply through one or several of the following programs.
Free Application for Federal Student Aid (FAFSA)
The completed and submitted FAFSA form is required to be considered for any need-based student aid. It must be completed and submitted by all relevant FAFSA deadlines. The deadlines are set federally, by states, and by The Praxis Institute. You can look up the federal and state deadlines on the FAFSA site online. There is no payment required when submitting the form.
There are two types of federal grants awarded to eligible students at The Praxis Institute. These are awarded based on need and do not need to be repaid unless the student withdraws from the school and subsequently owes a refund.
- Federal Pell Grant
- These are usually awarded only to undergraduate students, those who have not previously earned a bachelor’s, graduate, or professional degree. The Praxis Institute will use the information in the FAFSA application to determine eligibility for federal Pell Grants.
- Federal Supplemental Education Opportunity Grant (FSEOG)
- Another grant for undergraduates is awarded to students who will also receive Pell Grants and have exceptional financial needs. These funds are limited, with only a certain amount awarded to The Praxis Institute, and so once the funds are disbursed, there are no more grants available that award year. Information from the FAFSA is used to determine eligibility.
Federal Loan Programs
There are three federal loan programs available through The Praxis Institute for eligible students and families. All loan programs require repayment. Federal student loans carry fixed, low-interest rates and repayment is required only after leaving college or reducing program attendance to less than half time. There is no need for a cosigner or credit check with most federal loans.
- Federal Direct Subsidized Loan
- These low-interest rate loans are for eligible undergraduate students who attend The Praxis Institute at least half-time and are based on student financial need. The interest on these subsidized loans does not accrue while the student attends school.
- Federal Direct Unsubsidized Loan
- For both undergraduate and graduate students, eligibility for these low-interest loans is not based on financial need. Interest accruals are the responsibility of the student, even while attending school.
- Federal Direct Plus Loan
- Available to parents of students at The Praxis Institute, these low-interest loans do require a credit check. In this way, parents can borrow funds to help pay for educational costs, and other expenses not covered by financial aid awards.
Need More Information about Financial Aid?
The Financial Aid office at The Praxis Institute is available to further assist students and families. Please note that discrimination is prohibited at The Praxis Institute campuses in Miami and Hialeah, FL, and no student shall, on the ground of race, color, or national origin, be excluded from participation in, be denied the benefits of, or subjected to discrimination under any program or activity receiving federal financial assistance or be so treated on the basis of sex under the education programs or activities receiving federal assistance. For more information, please contact the Financial Aid office.