Understanding Financial Aid

Financial aid is the means by which a student pays tuition and expenses if they qualify, when they don’t have enough money to pay for it themselves.

Usually, the form of financial aid most RSI students depend on is a combination of Federal grants and loans. In order to receive any type of aid, you must complete the FAFSA (Free Application for Federal Student Aid) to see if you qualify. A grant doesn’t have to be paid back. A loan does have to be repaid.

Sometimes our students also use financial aid in the form of private loans, which come from a lender outside the government. Typically, Federal loans are better because they have lower interest rates than Private loans. If you find you need more money, you can apply for loans with private lenders like your own personal banking institution. The Financial Aid Department at RSI may recommend a lender when you complete your paperwork.

The Refrigeration School’s Financial Aid Department can assist every student in developing a financial plan to pay for training.

The first step in applying for financial aid is filling out the Free Application for Federal Student Aid, which is commonly known as the FAFSA. This is a form used for federal and state grants and loans (for those who qualify).

Online Application Process.

You can fill out the FAFSA at http://www.fafsa.ed.gov/, submit it, and then track your progress online.

When submitting your FAFSA online, you will need to apply for a Personal Identification Number (PIN) from the Department of Education at www.pin.ed.gov. This PIN gives you access to your information and serves as your electronic signature (so don’t share it with anybody).

Just like your unique PIN, RSI has a specific code that needs to be entered correctly on your FAFSA: The Federal School Code for RSI is 014127.