Ultimate Medical Academy (UMA) Financial Aid and Scholarships
Students Receiving Aid
91%
Total Aid Amount
$177.961M
Financial Aid Official Website
https://www.ultimatemedical.edu/future-students/student-services/financial-aid/
Ultimate Medical Academy (UMA) does have a couple of financial aid programs for students to choose from as they realize that most students in the country need it to complete their education. If a student qualifies for financial aid, the Ultimate Medical Academy student financial advisors and the student finance team helps all the students to walk through the financial aid process.
Some students qualify for grants, student loans or military benefits, while there may be alternative forms too such as personal investment, payment plans, scholarships and many more.
Scholarships
East Bay Rehabilitation Centre and Belleair Healthcare Centre in Clearwater, Florida invite Ultimate Medical Academy graduates to apply for a US$1,000 scholarship in exchange for signing a one year employment contract.
These scholarships have a few criteria that must be fulfilled before applying for any one of them:
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Graduate of Ultimate Medical Academy’s Nursing Assistant or Patient Care Technician Program.
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Cumulative GPA of at least 3.0 prior to externship.
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Scholarship funds will be paid directly to Ultimate Medical Academy. Refunds will be provided to the student or will be applied to the student’s loan, as and if applicable.
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The graduate agrees to work for Belleair or East Bay for a minimum of one year.
Federal Pell Grants
These grants provide funding to help eligible students without a bachelor’s degree to pay for their education. These grants are special because unlike loans, they do not have to be paid back. Applying for a Pell Grant is automatic when a student files for Free Application for Federal Student Aid (FAFSA).
For the award period from July 1, 2019 through June 30, 2020, the maximum Federal Pell Grant award is US$6,195. The actual amount for each student’s grant depends on the cost of education, number of hours enrolled and the Federal Pell Grant program regulations. Although not everyone qualifies for this need-based grant, all the students should apply regardless.
Federal student loan programs
Ultimate Medical Academy students who are independent and their parents (if the student it a dependent) are eligible to apply for federal student loan programs which could be:
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Direct Stafford Loan: These are federal student loans that must be repaid and are available to both undergraduate and graduate students. Stafford Loans may be subsidized or unsubsidized.
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PLUS Loans: These are federal loans that are provided to parents of dependent undergraduate students and graduate or professional students can use to help pay for college or career school. A PLUS loan is commonly referred to as a parent PLUS loan when made to a parent and as a grad PLUS loan when made to a graduate or professional student.
Federal subsidized direct loan
The interest in such loans are ‘subsidized’; paid by the federal government while the student is still in school. These are low-interest loans currently offered with repayment at a fixed rate.
For each academic year, dependent and independent students can be eligible for a loan of up to US$3,500 as freshmen, US$4,500 as sophomores and US$5,500 for all other undergraduate levels.
Federal unsubsidized direct loan
With an unsubsidized loan, the interest is charged to the student from the time they use the funding on their ledger card; the government does not pay the interest. If additional funds are needed beyond the base amounts, eligible parents of dependent students may borrow through the PLUS program.
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