Federal Financial Aid

Federal Financial Aid

Federal Financial Aid is a common way for students to pay for their education. The Soma Institute participates in a number of Federal Student Aid programs and assists students in applying to these programs.

Federal Pell Grants.

A Federal Pell Grant does not have to be repaid by the student. The amount awarded to you depends on your financial need, cost of attendance and enrollment status. To find out what you qualify for contact financialaid@soma.edu.

Direct Loans.

Direct Student Loans, unlike a Pell Grant, must be repaid by the borrower.

  • Direct Subsidized Loans is a loan that is awarded based on financial need.
  • Direct Unsubsidized Loans are not need-based.
  • Direct Plus Loan is a parent loan for dependent undergraduate students.

Note: All Federal Student Aid.

Pell Grants and Direct Loans awarded to students and their parents are submitted to the National Student Loan Data System (NSLDS).

How to Apply for Federal Financial Aid.

To apply for financial aid, students must complete the Free Application for Student Aid (FAFSA). And, don’t forget to include The Soma Institute on your FAFSA – Soma school code is 038913.