At The Center for Natural Wellness School of Massage Therapy, we try to make it easier for our students to pay their tuition by offering many different options for funding their Massage Therapy education. Below we have outlined some of the funding options that may be available to you as a student applying to our massage school. For more information about financial assistance, please contact the Financial Aid Office at (518) 489-4026 or email firstname.lastname@example.org.
Click here for 2014-2015 Financial Aid Packet
FEDERAL STUDENT AID
We encourage all of our prospective students to apply for Federal Student Aid by submitting a FAFSA (Free Application for Federal Student Aid). For a fast response you may apply online at www.fafsa.ed.gov. Our federal school code is 037733. If you would prefer not to apply online, please contact our Financial Aid office to receive a paper FAFSA.
CNWSMT participates in the following Federal Programs:
- FEDERAL PELL GRANT – Need-based gift aid that does not need to be repaid
- FEDERAL DIRECT STAFFORD LOANS – Loans for students (non-credit based)
- FEDERAL DIRECT PLUS LOANS – Parent Loans for Undergraduate Students
PERSONAL LOANS THROUGH BANKS AND CREDIT UNIONS
Many banks offer personal loans for education, but we recommend that you check with your bank and shop around for the best interest rate. We have found that local credit unions prove to be a good option for education loans, both in the rates that they offer and in their customer service. Below are some local credit unions in the Albany, NY area that offer private educational loans for our Massage Therapy program:
- Capital Communications Federal Credit Union – www.capcomfcu.org
- State Employees Federal Credit Union – www.sefcu.com
- Community Resource Federal Credit Union – www.communityresource.coop
There are scholarships to help pay for massage school education available throughout the year. These scholarships are administered both by the Center for Natural Wellness and outside organizations.
Students may be eligible to receive funding for their Massage Therapy study at CNWSMT from state and/or local (county) governments, particularly if they have been profiled under the State Unemployment Insurance Program.
Eligibility for this type of aid is determined on an individual’s specific needs and demographic characteristics. Students seeking government sponsored financial aid must work closely with the agency which is providing the funding to see that the CNWSMT receives all tuition payments by the specified deadlines.
ACCES-VR – Adult Career and Continuing Education Services-Vocational Rehabilitation. (Formerly VESID) Contact ACCES-VR to meet with a counselor at (518) 473-8097 or online at www.acces.nysed.gov/vr.
GI BILL / Department of Veterans Affairs – Call 1-888-GIBILL-1 or visit www.gibill.va.gov. CNWSMT participates in both the Montgomery and the Post 9/11 GI Bill. View our Guide to Utilizing GI Bill Benefits.
599 NYS Unemployment Training Program – Extend your unemployment benefits. CNWSMT is an Eligible Training Provider within the NYS 599 Unemployment Training Program for those looking to start a new career as a Massage Therapist. Please contact your unemployment office for more information.
Workforce Investment Act - Grant funding may be available to help displaced workers in need of job training to re-enter the workforce. Contact your local One-Stop Career Center or visit www.capreg.org.
TAA/Trade Adjustment Assistance- Help for trade-affected workers who have lost their jobs as a result of increased imports or shifts in production out of the United States. Visit www.doleta.gov/tradeact/benefits.cfm for more information.
American Opportunity Credit – The American Opportunity Credit is a Federal tax credit of up to $2500 for your out-of-pocket education expenses. Please consult with your tax professional or visit www.irs.gov for more information.
529 SAVINGS PLANS (Tax Advantaged Savings Programs for College Education)
CNWSMT is an approved institution for those who would like to use their 529 college savings plan to pay for their Massage Therapy education. Please contact your provider for more information.
SCHOOL-BASED FINANCING OPTIONS
Full Payment Plan
The tuition balance is paid in full before the first day of instruction.
Deferred Payment Plan
Participation in the Deferred Payment Plan is subject to an administration fee of $100. The administration fee is added to the tuition balance and the total balance is paid according to the following schedule:
- The 1st payment is due the day before the first day of instruction, and amounts to 50% of the total balance due.This payment may be in the form of Federal Student Aid.
- The 2nd payment is due at the beginning of the fourth month of instruction, and amounts to 25% of the total balance due
- The 3rd payment is due at the beginning of the seventh month of instruction, and amounts to 25% of the total balance due.
Monthly Payment Plan
If other funding options have been exhausted, students may be eligible to participate in a Monthly Payment Plan (MPP). Under the MPP, students are required to make an initial down payment of at least $6,500. Federal Student Aid eligibility may be considered for this initial payment. The remaining balance is then paid in 22 monthly installments. Students who are combining the MPP with their Federal Student Aid and are financing a tuition balance of $3000 or less may take advantage of extended terms up to 36 months. Students with a balance greater than $3,000 may also be considered for terms up to 36 months, but only after further review. Additional application items may be requested from these students. Students wishing to be considered for the MPP must submit a complete application for participation in the MPP to CNWSMT. This application may be obtained from the Financial Aid Office. A credit review will be performed and the student will be notified of the approval status of their MPP application within seven days of receipt by CNWSMT. Students will be required to enter into a loan agreement (retail sales contract) with CNWSMT for the terms of the loan and will be charged an interest rate of 6% on the tuition balance that is financed with the Monthly Payment Plan.
The student agrees to pay a $100 registration security deposit in order to register (and reserve a seat) in the Program. The registration security deposit will be applied toward tuition payments, and should be paid upon receipt of a letter of acceptance from the CNWSMT. If the registration security deposit is not paid, the student forfeits his/her seat in the Program.
PAYMENT OF TUITION
In addition to satisfying all Admissions requirements, all students are required to meet with our Financial Aid Administrator and have a complete financial plan in place before starting classes. For more information about tuition at the Center for Natural Wellness School of Massage Therapy please contact our Financial Aid office at (518) 489-4026 or email email@example.com.
ADDITIONAL FINANCIAL AID RESOURCES: www.studentaid.ed.gov