Tuition Assistance

There are several different payment options once the student is approved. The Cayce/Reilly School is now approved to offer Federal Financial Aid to those who qualify. Additionally, the Cayce/Reilly School has had students sponsored by a number of private and government agencies, such as:

• The Department of Rehabilitative Services
• The Department of the Visually Handicapped
• Various state employment commissions
• The Economic Dislocation and Worker Adjustment Assistance Act (EDWAA); information on this program is available by contacting the U.S. Department of Labor, Office of Worker Retraining.
• Veterans' Assistance: Students who enroll and have their tuition reimbursed by Veterans' Assistance are ultimately responsible for the payment of all tuition. Students who are enrolled under VA are required to pay in one of two ways: (1) full tuition at the start of the program, or (2) half tuition at the beginning of the first semester and the remaining half at the beginning of the second semester. Inability to meet financial arrangements will result in financial probation and possible termination from the program. In the case of termination, any monies still owed to the school may be turned over to our collection agency, at which time their fee will be added to the balance due, in addition to the possibility of court costs, attorney's fees, etc., should the balance remain unpaid.

Financial Aid Programs

School Code: 041373
The Cayce/Reilly School is approved to offer the Pell Grant, Unsubsidized Direct Loan, Subsidized Direct Loan, and Parent PLUS Loans to those who qualify. Students will need to complete the online application at https://studentaid.gov/fafsa-app/ROLES

• Students applying for the February and June 2024 terms should complete both the 2023-2024 and the 2024-2025 FAFSA forms.
• Students applying for the October 2024 term should complete the 2024-2025 FAFSA form.

Federal Pell Grant

A Federal Pell Grant, unlike a loan, does not have to be repaid. Pell Grants are awarded usually only to students who have not earned a bachelor's or a professional degree. Pell Grants are considered a foundation of federal financial aid, to which aid from other federal and nonfederal sources might be added.

Eligibility
The College Cost Reduction and Access Act (CCRAA) states that a student whose EFC does not exceed 6656, for the 2023-2024 award year, is eligible to receive a Pell Grant.

Maximum Pell Grant Award
The maximum Pell Grant award for the 2023-2024 award year (July 1, 2023 - June 30, 2024) is $5,752. This amount is pro-rated for a 700-hour diploma program. The maximum amount can change each award year and depends on program funding. The amount you get, though, will depend not only on your financial need, but also on your costs to attend school, your status as a full-time or part-time student, and your plans to attend school for a full academic year or less.

How Pell Grants are Disbursed/Paid
The school will apply Pell Grant funds to your school costs (tuition, fees, etc.) and pay you directly (usually by check), any remaining funds. The school will tell you in writing how much your award will be and how and when you'll be paid. Funds will be disbursed at least once per term (semester/full-time, half-way point/part-time).

Federal Direct Loans

Federal Direct Loans are funded by the federal government, as opposed to a bank or lending agency, and are available to students and parents of dependent students who qualify. Students will have to sign a promissory note, a binding legal document that lists the conditions under which you're borrowing and the terms under which you agree to repay your loan.

Subsidized Loan

A subsidized loan is awarded on the basis of financial need. Students eligible for a subsidized loan, the government will pay (subsidize) the interest on your loan while you're in school, and if you qualify to have your payments deferred. The current interest rate is 5.49%.

Maximum Subsidized Loan Amount
Students at the Cayce/Reilly® School receive a pro-rated loan amount, based on a 700– hour diploma program.

​Dependent Student
(Excluding students whose parents cannot borrow PLUS Loan) The maximum amount that a student can borrow for the current award year is $2,722.

Independent Student
(Including a Dependent student whose parents have applied for but were unable to get a PLUS Loan) The maximum amount a student can borrow for the current award year is: $2,722.

Unsubsidized Loan

Unsubsidized Loans are not based on a student’s level of financial need and may help cover costs that Pell Grants and Subsidized Loans do not. The school will subtract the total amount of your other financial aid from your cost of attendance to determine whether you're eligible for an unsubsidized loan. Unlike a subsidized loan, you are responsible for the interest from the time the unsubsidized loan is disbursed until it's paid in full. You can choose to pay the interest or allow it to accrue (accumulate) and be capitalized (added to the principal amount of your loan). Capitalizing the interest will increase the amount you have to repay. The current interest rate is 5.49%

Maximum Unsubsidized Loan Amount
Students at the Cayce/Reilly® School receive a pro-rated loan amount, based on a 700-hour diploma program.

Dependent Student
(Excluding students whose parents cannot borrow PLUS Loan) The maximum amount that a student can borrow for the current award year is $1,556.

Independent Student
(including a Dependent student whose parents have applied for but were unable to get a PLUS Loan). The maximum amount a student can borrow for the current award year is: $4,667.

*Generally, if you're a first-year undergraduate student and a first-time borrower, the school cannot disburse your first payment until 30 days after the first day of your enrollment period. This practice ensures you won't have a loan to repay if you don't begin classes or if you withdraw during the first 30 days of classes.

How Direct Loans are Disbursed/Paid
Direct Loan amounts will be dispersed electronically to the student’s tuition account at the school in at least two installments. No installment may exceed one-half of your loan amount. Your loan money must first be applied to pay for tuition, books and any other fees that may apply.

The student will be issued a check for any remaining funds. The student must sign a certification statement located in the Appendix section that allows the Cayce/Reilly School to apply Federal Title IV funds and other funds to tuition fee and book charges.

*Generally, if you're a first-year undergraduate student and a first-time borrower, the school cannot disburse your first payment until 30 days after the first day of your enrollment period. This practice ensures you won't have a loan to repay if you don't begin classes or if you withdraw during the first 30 days of classes.

Parent PLUS Loan

Parents can borrow a PLUS Loan to help pay your education expenses if you are a dependent undergraduate student enrolled at least half time. For a Direct PLUS Loan, your parents must complete a Direct PLUS Loan application and promissory note, found on www.studentloans.gov. The current interest rate for the Parent PLUS loan is 8.05%

Both parents may get a PLUS Loan, as long as the total aid package does not exceed your cost of attendance. For financial aid purposes, a parent must be the student’s biological or adoptive mother or father; a legal guardian is not considered a parent for FSA purposes.

Parents will be required to pass a credit check. If they don't pass the credit check, they might still be able to receive a loan if someone, such as a relative or friend who is able to pass the credit check, agrees to endorse the loan.

Maximum Loan Amount
The yearly limit on a PLUS Loan is equal to your cost of attendance minus any other financial aid you receive. If your cost of attendance is $6,000, for example, and you receive $4,000 in other financial aid, your parents can borrow up to $2,000.

Students applying for the February and June 2023 terms should complete both the 2022-2023 and the 2023-2024 FAFSA forms.
Students applying for the October 2023 term should complete the 2023-2024 FAFSA form.

Professional Judgment

Federal law provides students with the right to request an adjustment from the institution to their financial aid awards due to special or unusual circumstances. The institution shall consider and evaluate all requests for adjustment on a case-by-case basis, and its determination will be final. Requests for adjustment must be made by students as soon as possible or when the inistitution is processing the student’s financial aid package. The institution shall provide the student with the results of its review, and the details of any change to the student’s financial aid package, within 60 days of the date that the institution receives all required documentation from the student. This policy shall be followed for all students who request an adjustment to their
financial aid packages based on special or unusual circumstances.

Special Circumstances
Adjustments based on special circumstances allow the institution to adjust ISIR income information in cases where the student’s or family’s current income is materailly less than the income used to determine the student’s financial aid eligibility. A special circumstances adjustment may also be requested to modify cost of attendance components to account for additional expenses incurred by the student or family that are not reflected in the standard cost of attendance calculations.

Any request for consideration of an adjustment based on special circumstances must be made by the student, in writing, to the instituion’s financial aid department. The following information must be submitted to the institution by any student requesting an adjustment:

• A written request for an adjustment due to special circumstances
• The type of adjustment being requested (income adjustment or expenses adjustment)
• A detailed description of the circumstances involved
• Evidence documenting the reduction of income for adjustments based on income
• Evidence documenting the additional expenses for adjustments to the Cost of Attendance

In cases where the student has not submitted all documentation required by the institution, or in cases where the student has already been packaged for the maximum amount of financial aid offered by the institution, the student’s request for adjustment shall be declined. In all other cases, the institution shall review the student’s file, consider the special circumstances involved, and determine whether the documentation submitted by the student supports the request for adjustment.

If an adjustment to income is authorized by the institution, a correction to the student’s ISIR information will be filed by the institution. The corrected ISIR will then be used to re-package the student’s file for any additional financial aid eligibility. For adjustments to cost of attendance components based on additional expenses, the institution shall adjust the cost of attendance accordingly and shall re-package the student’s file for any additional financial aid eligibility.

Unusual Circumstances
Adjustments based on unusual circumstances, commonly known as “dependency overrides”, allow the institution to treat as independent any student who, based on the criteria and definitions in the in the Higher Education Act, should otherwise be considered to be dependent for federal financial aid purposes. Unusual circumstances adjustments are extremely rare and, in accordance with U.S. Department of Education guidelines, shall only be considered if the student’s situation is unusual. An example of a qualifying circumstance would be one that might involve cases of human trafficking, asylum or refugee situations, parental abuse, abandonment, or incarceration. An example of a non-qualifying circumstance would include one in which the student is self-supporting and receives no financial assistance from the parents. While the latter may appear to be a situation in which adjustment is warranted, this example is not “unusual”
and based on USDE guidance, would not qualify for an unusual circumstances adjustment. Any request for consideration of an adjustment based on unusual circumstances must be made by the student, in writing, to the instituion’s financial aid department. The following information must be submitted to the institution by any student requesting an adjustment:

• A written request for an adjustment due to unusual circumstances
• A detailed description of the unusual circumstances involved
• A detailed description of the sources of financial support covering living costs
• Evidence documenting the unusual circumstances and sources of financial support (must include evidence from unrelated third-party individuals or organizations)

The institution shall decline any request for adjustment due to unusual circumstances if the student has not submitted all documentation required by the institution. In all other cases, the institution shall review the student’s file, consider the unusual circumstances involved, and determine whether the documentation submitted by the student supports the request for adjustment.

If an unusual circumstances adjustment (dependency override) is authorized by the institution, the institution shall complete such adjustment to the student’s FAFSA / ISIR as required. The corrected ISIR will then be used to re-package the student’s file for any additional finacial aid eligibility. The student shall contune to be considered independent under the unusual circumstances adjustment for each subsequent award year at the institution unless the student has informed the institution that circumstances have changed, or if the institution determines that it has conflicting information regarding the student’s dependency status.

Acceptable Documentation
The following guidance, as publlished by the U.S. Department of Education’s Dear Colleague Letter GEN-22-15, outlines acceptable documentation for requeats for adjustment. Acceptable documentation includes, but is not limited to:

Special Circumstances

• A documented interview between the student and the financial aid administrator
• Supplementary information, as necessary, about the financial status or personal circumstances of eligible applicants as it relates to the special circumstances

Unusual Circumstances

• A documented interview between the student and the financial aid administrator
• Submission of a court order or official Federal or State documentation that the students’ parents or legal guardian are incarcerated
• A documented phone call or written statement from an attorney, guardian ad litem, a court-appointed special advocate (or similar), or a representative of a TRIO or GEAR UP program that confirms the circumstances and the person’s relationship to the student
• A documented determination of independence made by a financial aid administrator at another institution in the same or a prior award year
• Utility bills, health insurance, or other documents that demonstrate a separation from parents or legal guardians.

Acceptable documentation may also include a documented phone call or written statement, which confirms the unusual circumstances with:

• A State, county, or Tribal welfare agency
• An independent living case worker who supports current and former foster youth with the yransition to adulthood
• A public or private agency, facility, or program servicing the victims of abuse, neglect, assault, or violence