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Financial Resources
Financial Resources
You and your future are worth investing in. While some of our students pay cash for their tuition and fees, most of the students who come to Mandalyn Academy receive some kind of financial assistance. This assistance comes from public and private grants, scholarships and loans.
For more information on Financial Assistance go to our Student Consumer Information Guide.
Faqs
MANDALYN ACADEMY CODE OF CONDUCT
Mandalyn Academy is committed to the highest standard of ethics and conduct and requires each employee to comply with legal and regulatory requirements and policies and procedures that apply to his or her particular duties. Mandalyn Academy has adopted a code of conduct that prohibits a conflict of interest with the responsibilities of an agent of the school with respect to FFELP or private education loans. It applies to the officers, employees, and agents of Mandalyn Academy. Our code of conduct includes bans of the following:
- revenue-sharing arrangements with any lender,
- steering borrowers to particular lenders or delaying loan certification, and
- offers of funds for private loans to students in exchange for providing concessions or promises to the lender for specific number of FSA loans, a specified loan volume, or a preferred lender arrangement.
Our code of conduct applies to the officer, employees, and agents of Mandalyn Academy and also prohibits employees of our financial aid office from receiving gifts from lender, guaranty agency, or loan servicer.
Mandalyn Academy’s code prohibits financial aid office staff (or other employees or agents with responsibilities with respect to education loans) from accepting compensation for
- any type of consulting arrangement or contract to provide services to or on behalf of a lender relating to education loans; and
- service on an advisory board, commission, or group established by lenders or guarantors, except for reimbursement for reasonable expenses.
TUITION PAYMENT OPTIONS
- Federal Aid: Mandalyn Academy offers four types of Financial Aid to those who qualify. Call now or email [email protected]
to schedule an appointment with our Financial Aid Officer, or go to www.studentaid.gov and apply using Mandalyn Academy School Code #041619.- Pell Grants: For those students who demonstrate need, the Federal government will award those students up to $6,895 per academic year (900 hours). These grants do not have to be paid back, unless you quit school.
- Direct Subsidized Loans: Subsidized loans are need-based low-interest loans subsidized by the Federal Government. This means that with qualification the Federal Government will pay your interest on the loan throughout your course. If a student does not qualify, additional unsubsidized funds will be offered. The current interest rate on a Subsidized Loan is 4.99%, until July 2023. The Federal Government does not check your credit before they issue these loans.
- Direct Unsubsidized Loans: the Federal Government does not subsidize these loans, so once your account has disbursed the money toward your tuition, the loan starts to accrue interest. The interest rate on this loan is 4.99%. You can ‘capitalize’ the interest on these loans until you graduate (add the interest that accrues to the loan itself, rather than start paying the interest immediately), though capitalization is never advised.
- Parent Plus Loans: For dependent students (unmarried students under 24 with no dependents), parents can take out a Parent Plus loan to cover some fees. The interest accrues immediately, payments start immediately, and the rate is currently 7.54%. The parent’s credit is checked for these loans.
The Department of Education accounts for student’s unique situations by authorizing Financial Aid Administrators to exercise Professional Judgment to adjust data elements used to determine a student’s Expected Family Contribution (EFC), components of a program’s Cost of Attendance (COA), and/or Dependency status. If you have a unique situation which would affect any of these elements, you may submit a request in person or by email to our Financial Aid Office ([email protected]) to review your individual circumstance.
For students who do not qualify for federal aid programs, there are other financial loans and resources that they may qualify for.
- Private Institutions. There are some banks, credit unions and financial institutions that offer loans to help finance your education or continuing education classes. A student may qualify for Title IV, HEA loans and other financial aid, and the terms and conditions may be more favorable than the provisions of private education loans. Our admissions office and financial aid director are here to help you. For more information go to our Student Consumer Information Guide.
- Cash Pay. A student can pay the full amount of tuition at the time of start by using a personal check, cashiers check, money order, credit card or cash.
- In-house Financing. If a student cannot qualify through a private institution they may qualify for an in-house financing plan with a down payment, monthly payments, and a final balloon payment approximately three-quarters way through the program.
- Department of Veterans Affairs Education Benefits. V.A. administers a variety of education benefit programs and services. Each education benefit program and service has its own eligibility requirements. For more information go to: https://www.va.gov /education /how-to-apply/. Mandalyn Academy has trained school certifying officials (SCO’s) who can assist veterans and their dependents throughout the Department of Veterans Affairs Education Benefits process, and welcomes ‘vets’ interested in enrolling in our programs.
- Vocational Rehabilitation Services. The mission of the Utah State Office of Rehabilitation is to assist eligible individuals in obtaining employment and increasing their independence. For more information go to: https://jobs.utah.g ov//vr/index.html
- Alpine School District High School Student Scholarship Program. High School students are not eligible for federal financial aid. Alpine school district high school students may enroll and qualify for a school district partial-tuition scholarship that is matched by Mandalyn Academy. The Alpine School District scholarship for high school students has its own criteria for eligibility. See your high school counselor for eligibility.
Tuition is due at time of enrollment unless otherwise contracted. Paperwork for state licensing is released upon full payment of tuition.