Frequently Asked Questions

  1. What is your school code?
  2. I want to pay cash, do you accept (insert form of payment)?
  3. When do I find out what I am eligible for in Federal Student Aid?
  4. What is a FAFSA?
  5. Does the FAFSA cover my entire program cost?
  6. I have a defaulted student loan, am I eligible for FAFSA?
  7. Can you use your Post-9/11 GI Bill®?
  8. Will the VA send the school my Certificate of Eligibility (COE)?
  9. What is a “Master Promissory Note”?
  10. Do I have to pay on my previous federal loans while I’m attending your school?
  11. Can I (or my parents) borrow a personal loan from our own bank/credit union?<
  12. Will I need a cosigner?
  13. When will I get my loan and/or grant money?
  14. What money will I need to re-pay?
  15. Will money from my FA package be sent directly to me?

What is your school code?

Each school is designated with a federal school code.  You can look it up by institution but Divers Institute’s OPEID code is 01148100.


 

I want to pay cash, do you accept (insert form of payment)?

We accept most forms of payment.  A payment plan specific to you will be discussed and outlined with your Financial Aid Representative.


 

When do I find out what I am eligible for in Federal Student Aid?

Once you have completed the FAFSA and the Financial Aid Representative has evaluated your report, they will contact you with the necessary information.  You may also make a call to the school and inquire.


 

What is a FAFSA?

The FAFSA, also known as the Free Application for Federal Student Aid, is a form used by the U.S. Department of Education to determine eligibility for student aid (which includes the Pell Grant and Direct Loan Programs) and is based on the financial need of the student.


 

Does the FAFSA cover my entire program cost?

FAFSA does not cover the entire cost of the program.  Once your FAFSA is complete, you and your Financial Aid Administrator will discuss other alternative financing options available to you that can help you cover the remaining cost of the program and other educational expenses while you’re in school.


 

I have a defaulted student loan, am I eligible for FAFSA?

The Department of Education determines who is eligible for federal aid.  Once defaulted, they will make arrangements with you so that you can regain your eligibility.


 

Can you use your Post-9/11 GI Bill®?

Yes. Currently all of our programs are VA approved. Simply provide a copy of your Certificate of Eligibility (COE) to your Financial Aid Advisor, so that they can determine exactly what you will receive from your benefits.


 

Will the VA send the school my Certificate of Eligibility (COE)?

No, the COE is veteran specific and they will send it to you.


 

What is a “Master Promissory Note”?

In order to accept your Federal Student Loans you must complete a Master Promissory Note (MPN) online. It is a legal document where you acknowledge and acceptance the terms and conditions of the loans. You can complete it online at www.studentloans.gov . In completing the MPN you are promising to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education.


 

Do I have to pay on my previous federal loans while I’m attending your school?

As long as you are attending school at least half time, your payments can be deferred.  While attending our institution you are meeting that requirement.  The Financial Aid staff will work with you to ensure that the appropriate organizations are notified.


 

Can I (or my parents) borrow a personal loan from our own bank/credit union?

The balance owed to the school is the student’s responsibility; a personal loan from your own bank is one option.  Alternative loans will be discussed during the packaging process so that you have all the necessary information to make the right decision for your circumstances.


 

Will I need a cosigner?

Most private student loans, like Sallie Mae Smart Option Loan and Well Fargo Student Loans, typically require the addition of a credit-worthy cosigner.


 

When will I get my loan and/or grant money?

Every student has different funding, the dates and amounts will be discussed individually with your Financial Aid Representative.


 

What money will I need to re-pay?

You are required to repay all federal and private student loans that you borrow for school.  Students have a variety of options when it comes to repayment plans both during and after school.


 

Will money from my FA package be sent directly to me?

Money from your financial aid package will be sent to DIT and disbursed to your account.  First, we will apply the money to your tuition and other education expenses charged to your account like gear and the physical.  After this money has been applied to these charges, any additional money remaining will be given to you in the form of a check, or multiple checks, throughout the program.