Financial Aid Policy

2026-2027

Financial Aid Loan Information

The Institute of Taoist Education and Acupuncture (ITEA) provides Federal Financial Aid for all eligible students through Title IV of the Federal Higher Education loan program act. We participate in the William D. Ford Direct loan program offering unsubsidized Federal Direct loans and Graduate Plus Federal Direct loans.

Federal Direct Unsubsidized Loan

The unsubsidized Federal Direct loan is available to eligible students enrolled at ITEA. Loans of up to $20,500 per academic year are available from the federal government to cover costs of training. This loan is not awarded based on need.

  • Students awarded unsubsidized loans are charged an origination fee of 1.057% (effective July 1, 2025 – July 1, 2026) of the loan amount that is deducted from each loan disbursement. The interest accrues while in school and the student may choose to pay the interest or choose to add the amount of interest to the principal amount of the loan.
  • The interest rate for Unsubsidized Loans is 7.94% (as of July 1, 2025). Repayment of the loan begins after the student graduates or leaves school, with a six month “grace period.” During the grace period, the principal does not have to be repaid. Interest is charged during the grace period.

Federal Graduate PLUS Loan

Valid for Borrowers Until July 1, 2026 unless previously awarded

The Graduate PLUS loan is a credit-based loan not dependent on need. It does require a credit check to ensure the student does not have any adverse credit history. PLUS loans can help pay for education expenses not covered by other financial aid.

  • The maximum PLUS loan amount you can borrow is the cost of attendance (determined by the school) minus any other financial assistance you receive. Students awarded Grad PLUS loans are charged an origination fee of 4.228% (effective July 1, 2025 – July 1, 2026) of the loan amount that is deducted from each loan disbursement.
  • The current interest rate of 8.94% (as of July 1, 2025) begins to accumulate on the date of the first disbursement. PLUS loans enter repayment once the loan is fully disbursed (paid out), but you do not have to start making payments until six months after you graduate or leave school. You may choose to pay the accrued interest or allow the interest to be capitalized (added to your loan principal balance).

To access additional information about federal loans, visit studentaid.gov

PLUS Loan Application

Steps to apply:

  1. Start here https://studentaid.gov
  2. Go to “Apply for Aid”
  3. Click “Apply for a PLUS Loan”
  4. Log in using your FAFSA Username and Password
  5. Sign the Master Promissory Note (MPN), if this is the first time you are applying for our school

FAFSA Information
Free Application for Federal Student Aid

Begin FAFSA here
  1. Read “Understand Aid” to learn your responsibility as a student taking out a Federal Loan
  2. Go to “Apply for Aid” and then “Complete the FAFSA Form”
  3. Follow the instructions for filling out the application(s). You can complete the PLUS loan on this site. You will need your Tax Return from the previous year to complete this application.
    Enter the ITEA school code: G41212
  4. Click “Submit” at the end of the application

Reminders

  • Complete Entrance Counseling
  • Sign the Master Promissory Note (MPN)
  • ITEA will be notified when you submit the application
  • If you complete the PLUS loan, please let ITEA know directly
  • Update your FAFSA every award year you are in school to continue financial aid

For any questions, contact ITEA Financial Aid Coordinator, Leah Barber:

Start FAFSA Contact Financial Aid Coordinator

Policy and Procedures

Title IV Disbursement

ITEA disburses Title IV funds to the students 4 times per year. These disbursements coincide as close as possible with the due date for tuition for all students, which is based on your start date.

Once ITEA receives the disbursement from the Department of Education into their Federal Funds account, the Financial Aid Officer (FAO) submits a Funds Transfer request to have the funds moved from the Federal Funds Account into the Title IV checking account where the checks or direct deposit to the students will be drawn.

The FAO emails all students reminding the students that tuition will be due on XX date and by XX time. The email also tells the Title IV students that they need to sign the financial aid form and return to the FAO to receive their disbursement and pay their tuition.

If a student requests an increase in their loans, the FAO submits the request to our 3rd party servicer. The FAO will use the date of the request as the date(s) for any retro disbursement to be paid and use the pre-determined dates for all future disbursements. All disbursement dates will be confirmed to match Common Origination and Disbursement (COD), the student’s electronic file and Student Binder.

ITEA cannot guarantee disbursement dates as they are dependent on the Department of Education.


Satisfactory Academic Progress (SAP)

ITEA provides financial aid to eligible students who would otherwise not be able to afford training as a Classical Five-Element acupuncturist. All ITEA students, including those receiving financial aid, must always have satisfactory academic progress toward graduation from the ITEA program. Satisfactory academic progress is determined not only by federal regulations, but by careful and continual monitoring of each student throughout the ITEA program. Failure to maintain adequate progress will result in the cancellation of any financial aid awards and may result in the need to repay some funds already received.

Minimum Standards for All ITEA Students

ITEA institutional requirements for minimum satisfactory performance for all students, including financial aid recipients, are defined as follows:

  • Transfer credits are accepted. Credit hours that are accepted from another institution toward the student’s educational program will be counted as both attempted and completed hours
  • SAP is assessed twice per year (Winter and Spring/ Summer)
  • ITEA measures competency based on grade scale of Pass/Resubmit
  • A 1st Year student must complete 50% of all coursework by the start of Intensive 3. The next 50% must be completed before the start of Year 2. An exception is completing the Zero Balancing class which is due at the end of Year 2
  • A 2nd year student must complete 50% of all coursework by the start of intensive 7. The next 50% must be completed before starting the clinic in the 3rd year
  • Students in their clinical years must be in clinic 2 days/week (8-10 hours per week) and have 100% attendance in all courses and complete all clinic reporting to meet SAP requirement
  • 100% rate of “passed” evaluations for all homework for a year. An item is “passed” when the student can express a complete understanding of, and facility with, 100% of all information taught. If a student has not “passed” all homework for a year before the next year, they are allowed to resit the item before the beginning of the next year until they “pass”. Individual exceptions will be discussed by the student and the administration of ITEA on a one-time basis.
  • 100% rate of “passed” evaluations for all homework and exams for the prior year of the program.
  • Completion of all aspects of ITEA’s program within 5 years of enrollment. Title IV gives monies for the program up to 4.5 years.

If students have not “passed” all homework and exam items from a year, they are unable to progress to the next year of training in the program. At this time, they may take a Temporary Leave of Absence to complete all necessary work and look to rejoining the program with the following year’s cohort. Financial Aid students will not be eligible for financial aid during this Leave of Absence.

Traditional Track Students who have taken two one-year Leaves of Absence within the program cannot take a third Leave of Absence, for their studies could no longer be contained within the 4-year maximum time limit for completion of the program and would automatically make them ineligible for financial aid. They would automatically be placed on Financial Aid Denied Status.

Students placed in Financial Aid Denied Status will be notified via email and a letter sent to their home address. They will no longer be eligible for financial aid.

If a student fails SAP, a warning will be issued stating the reasons for failure. The student has until the next SAP meeting to meet the requirements. If that is not met, academic probation will be put in place.

Progress Panel Information: 

Midway through the academic year, all students will attend an individual meeting with a review panel to assess their ability to proceed with the program.

Prior to the meeting, students submit a self-assessment form to evaluate their own progress, strengths, and areas for improvement. The panel is a professional and collaborative meeting, introducing students to similar meetings in the clinical years. After discussion and evaluation with the panel, students will either:

  • Move forward with the second part of the year.
  • Continue forward on probation if there are problem areas needing more attention. The student will be on probation and will meet with the Dean of Students to check progress.
  • Be asked to return in a year as part of the next class. This is not a punitive action; rather, it is a time to make the necessary changes to reinforce the personal growth and learning required for the program and to continue as a student.

Areas that are cause for concern and addressed with the panel when appropriate:

  • Late work and assignments
  • Failure to apply recommendations from graders, faculty, Dean of Students and/ or Academic Leadership Team
  • Not submitting weekly assignments in a timely manner
  • Lack of willingness for personal growth and self-reflection

Students receive a warning if they do not meet SAP. If a student does not meet SAP who also receives Title IV funds, a warning and probationary period will begin and they will continue to receive funds. If the Title IV student is unable to meet the terms of the probation during the next Progress Panel period, they will not be eligible for financial aid funds.

 

Exit Counseling

All students who receive a William D. Ford Direct Loan (unsubsidized and/or PLUS) are required by law to participate in Exit Loan Counseling upon graduation or withdrawal from the program.

Complete Exit Counseling here: https://studentloans.gov

  • Upon completion, please notify Leah Barber or Kathy Knaus at ITEA.
  • Upon graduation, the student diploma will be available after all requirements are met.

R2T4 Policy

Return of Title IV Funds 

The return of Title IV funds is administered by Student Financial Services. This policy applies to students who withdraw (official, unofficially) or are dismissed from enrollment at ITEA. It is separate and distinct from the ITEA Refund Policy (see Refunds section in your student manuals). Therefore, the student may still owe funds to the school to cover unpaid institutional charges. The school may also attempt to collect from the student any Title IV program funds that the school was required to return. The calculated amount of the “Return of Title IV Funds” that is required for students affected by this policy are determined according to the following definitions and procedures, as prescribed by regulation.

ITEA will use the Department of Education prorate schedule to determine the amount of R2T4 funds the student is required to return to ITEA at the time of withdrawal.

ITEA has 45 days from the date the institution determines that the student withdrew to return all unearned funds for which it is responsible. The school is required to notify the student if they owe a repayment via written notice. The school must advise the student that they have 14 calendar days from the date the school sent the notification to accept a post-withdrawal disbursement. If a response is not received from the student or parent within the permitted time frame or the student declines the funds, the school will return any earned funds that the school is holding to the Title IV programs. Post-withdrawal disbursement must occur within 120 days of the date the student withdrew.

The Return of Title IV Funds (R2T4) regulation does not dictate the institutional refund policy, however. The calculation of Title IV funds earned by the student has no relationship to the student’s institutional charges incurred.

ITEA may also attempt to collect from the student any Title IV program funds that the school was required to return.

Title IV funds are awarded to a student under the assumption that they will attend school for the entire period for which the assistance is awarded. When a student withdraws from all their courses, for any reason including medical withdrawals, they may no longer be eligible for the full amount of Title IV funds that they were originally scheduled to receive.

A school is required to determine the earned and unearned Title IV aid a student has earned as of the date the student ceased attendance based on the amount of time the student was scheduled to be in attendance.

If the student withdraws from all his courses prior to completing over 60% of a semester, they may be required to repay a portion of the federal financial aid that they received for that term. A pro rata schedule is used to determine the amount of federal student aid funds they will have earned at the time of the withdrawal. Federal aid includes Federal Stafford Loan (subsidized and unsubsidized), Perkins Loans, Parent Plus Loan, Pell Grants, SEOG Grants, ACG, SMART, TEACH and any other Title IV funds.

The return of funds is based upon the concept that students earn their financial aid in proportion to the amount of time in which they are enrolled. Under this reasoning, a student who withdraws in the second week of classes has earned less of their financial aid than a student who withdraws in the seventh week. Once 60% of the semester is completed, a student is considered to have earned all his financial aid and will not be required to return any funds. The institution must still perform a R2T4 to determine the amount of aid that the student has earned.

Withdrawal before 60%:

ITEA must perform a R2T4 to determine the amount of earned aid up through the 60% point in each payment period. ITEA will use the Department of Education’s prorate schedule to determine the amount of R2T4 funds the student Return of Title IV Funds (R2T4) Policy ITEA has earned at the time of withdrawal.

    • After the 60% point in the payment period or period of enrollment, a student has earned 100% of the Title IV funds they were scheduled to receive during the period.
    • ITEA must still perform a R2T4 to determine the amount of aid that the student has earned.

Withdrawal after 60%:

For a student who withdraws after the 60% point-in-time, there are no unearned funds. However, ITEA will still determine whether the student is eligible for a post-withdrawal disbursement.

Note: ITEA has provided an example of the calculation used to determine the amount of unearned aid a student would be expected to repay based on the reported last day of attendance of the term from which a student withdraws.

Withdrawals:

A student’s official withdrawal date is determined by using one of the following:

  • The date they officially withdrew with the Office of the Registrar during the Registrar’s withdrawal period.
  • The date the student submitted their petition to withdraw to the Office of the Registrar if the Office of the Registrar’s withdrawal period has ended and the student successfully petitioned to withdraw.
  • The date the student died if the student passed away during the semester.
  • The date the student was expelled/dismissed from the college.

If a student does not follow through with the proper withdrawal procedures as defined in the Academic Information section of the Catalog, the student’s unofficial withdrawal date is determined by using one of the following:

  • The date the student died if the student passed away during the term.
  • The last date the student attended class.
  • Information received to ITEA and the Student Financial Services Office at [email protected] in person (or via email, if personal appearance is not possible) by the student of any withdrawal occurring during a semester/ term.

ITEA determines the return of Title IV funds percentage. Institutions are required to determine the percentage of Title IV aid “earned” by the student and to return the unearned portion to the appropriate aid program.

Return of Title IV Funds Calculation Process

Step 1: Student’s Title IV information

ITEA Determination of Return of Title IV Funds (R2T4) 

a. The total amount of Title IV aid disbursed for the semester/ term in which the student withdrew. This is not aid that could have been disbursed.

A student’s Title IV aid is counted as aid disbursed in the calculation if it has been applied to the student’s account on or before the date the student withdrew.

b. The total amount of Title IV aid disbursed plus the Title IV aid that could have been disbursed for the semester/ term in which the student withdrew.

Step 2: Percentage of Title IV Aid Earned

ITEA will calculate the percentage of Title IV aid earned as follows:

  • The number of calendar days completed by the student divided by the total number of calendar days in the semester/ term in which the student withdrew.
  • The total number of calendar days in a semester/ term shall exclude any scheduled breaks of more than five days.
    • Days Attended ÷ Days in Enrollment Period = Percentage Completed

If the calculated percentage exceeds 60%, then the student has “earned” all the Title IV aid for the enrollment period.

Step 3: Amount of Title IV Aid Earned by the Student

ITEA will calculate the amount of Title IV Aid earned as follows:

  • The percentage of Title IV aid earned (Step 2) multiplied by the total amount of Title IV aid disbursed or that could have been disbursed for the term in which the student withdrew (Step 1b).
    • Total Aid Disbursed x Percentage Completed = Earned Aid

Step 4: Amount of Title IV Aid to be Disbursed or Returned

  • If the aid already disbursed equals the earned aid, no further action is required.
  • If the aid already disbursed is greater than the earned aid, the difference must be returned to the appropriate Title IV aid program.
  • Total Disbursed Aid – Earned Aid = Unearned Aid to be Returned
  • If the aid already disbursed is less than the earned aid, then ITEA will calculate a Post- Withdrawal Disbursement.

Earned AID:

Title IV aid is earned in a prorated manner on a per diem basis (calendar days or clock hours) up to the 60% point in the semester/ term. Title IV aid is viewed as 100% earned after that point in time. A copy of the worksheet used for this calculation can be requested from the Financial Aid Coordinator or Finance Director.

Processing Return of Funds

In accordance with federal regulations, when Title IV financial aid is involved, the calculated amount of the R2T4 Funds is allocated in the following order based on the type of aid disbursed: 

  1. Unsubsidized Federal Stafford Loan
  2. Subsidized Federal Stafford Loan
  3. Unsubsidized Federal Direct Stafford Loan
  4. Subsidized Federal Direct Stafford Loan
  5. Federal Perkins Loans
  6. Federal Plus Loan received on behalf of the student
  7. Federal Direct PLUS received on behalf of the student
  8. Pell Grant
  9. ACG Grant
  10. SMART Grant
  11. SEOG Program Aid
  12. Teach Grants
  13. Other Title IV Aid

Loans must be repaid by the loan borrower (student/parent) as outlined in the terms of the borrower’s Promissory Note.

The student’s grace period for loan repayments for Federal Unsubsidized and Subsidized Stafford Loans will begin on the day of the withdrawal from ITEA. The student should contact the lender if they have question regarding their grace period or repayment status.

Institutional and Student Responsibility for Federal Return of Title IV Funds Policy

ITEA Responsibilities regarding the Return of Title IV Funds:

  1. Provide each student with the information given in this policy.
  2. Identify students impacted by this policy and complete the Return of Title IV Funds calculation.
  3. Inform the student of the result of the Return of Title IV Funds calculation and any balance owed to ITEA because of a required return of funds.
  4. Return any unearned Title IV aid that is due to the Title IV programs and, if applicable, notify the borrower’s holder of federal loan funds of the student’s withdrawal date.
  5. Notify student and/or Plus borrower of eligibility for a Post-Withdraw Disbursement, if applicable.

Students Responsibilities regarding the Return of Title IV Funds:

  1. Review with the Return of Title IV Funds policy and how withdrawing from all courses impacts eligibility for Title IV aid.
  2. Resolve any outstanding balance owed to ITEA resulting from a required return of unearned Title IV aid.

In the event a student is eligible for a post-withdrawal disbursement based on the student’s budget, awarded financial aid and Title IV funds and R2T4 calculations, a post-withdrawal disbursement must be made only after the following conditions are met:

  1. Student and parents were in most cases verbally notified of the availability of post-withdrawal disbursements by Student Financial Services within one week from the date of R2T4 calculation was performed.
  2. Student and parents in most cases verbally notified Student Financial Services within a reasonable time indicating their acceptance of available post-withdrawal disbursement amounts. The reasonable time refers to allowing sufficient time to school to process a post-withdrawal disbursement within the deadlines set by the Department of Education.
  3. Student has outstanding institutional charges that are due and wants to pay off those charges by applying their post-withdrawal disbursement.
  4. Student/Parents completed all necessary paperwork related to such post-withdrawal disbursement within a reasonable time.
  5. Student Financial Services must track the notification and authorization to make the disbursement and meet deadlines as prescribed by ED. A school must process Title IV aid within 120 days from the last day of the enrollment period.
  6. The post-withdrawal disbursement must be applied to outstanding institutional charges before being paid directly to the student.

The procedures and policies listed above are subject to change without advance notice.

Exit Counseling

All students who receive a William D. Ford Direct Loan (unsubsidized and/or PLUS) are required by law to participate in Exit Loan Counseling upon graduation or withdrawal from the program.

Complete Exit Counseling here: https://studentloans.gov

  • Upon completion, please notify Leah Barber or Kathy Knaus at ITEA.
  • Upon graduation, the student diploma will be available after all requirements are met.

General and Federal Financial Aid Information

FAFSA

Free Application for Federal Student Aid
ITEA code: G41212

Graduate Students

Financial Aid for Graduate Students

Funding Resources

Federal Student Aid Toolkit

Sallie

Informative Financing Guide

Required Counseling

Loan Entrance Counseling

Cost Statistics

 ITEA IPEDs Cost Information

Estimate Costs

Federal Student Aid Estimator

Map Your Future

Repayment

Repaying Student Loans

Loan repayment resources

 

Manage Federal Student Aid Loans
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