Applying for Financial Aid

1. Schedule Your Financial Aid Orientation

Each new student requesting financial aid is required to schedule an appointment with the Financial Aid Office prior to enrolling. During this appointment, you will become acquainted with the financial aid process, financial aid payment periods, the loan programs, and loan repayment.

2. File the FAFSA

To be considered for any financial assistance, students must complete the Free Application for Federal Student Aid (FAFSA). MTSA School Code 007783.

You will need a Federal Student Aid (FSA) ID to complete and electronically sign your FAFSA application. The FAFSA website will guide you through obtaining an FSA ID.

Each year, students will reapply for financial assistance through a renewing of the FAFSA, at

Please note: The FAFSA application process is a free service provided by the US Department of Education. Students will not be asked to pay a fee to access it, so check your website before proceeding.

3. Report Outside Assistance

If you receive scholarship funds or tuition assistance from outside sources, they must be reported to the Financial Aid Office so they can be incorporated into the financial aid package.

4. Complete Required Documents

5. Review Financial Aid Offer

The cost of attendance, for your program of study, drives the amount of financial assistance you are eligible to be offered. Prior to each new academic year, you will receive a financial aid offer with further instructions from the Financial Aid Office. The Financial Aid offer will include the maximum Federal Direct Unsubsidized loan you may borrow for the year and any outside assistance you’ve reported for the loan period. MTSA requires you to accept your loan amounts on your student portal before any federal and/or private loans are processed. Along with the financial aid offer, you will receive the deadline date to accept the offer and complete the application/promissory note for each loan type. The deadline is to ensure funds arrive in time to pay tuition, as the funds will be requested by MTSA.

To accept your loan offer, access your student portal, review the amounts of the loans and click accept next to the loan amount.  If you wish to make changes or additions to your offer, please email to make your request. If requests are made after the deadline (to process the loans by the tuition due date) loans will be delayed and arrangements for payment must be made with the Business Office.

Students who do not confirm their awards with the Financial Aid Office will not have loans processed.

Financial Aid Offer Glossary»


Disbursement Information

Disbursement of aid is the process by which financial aid is placed into the student account. Loans will be processed and requested to disburse to MTSA on the tuition due dates within each loan period. Loan amounts will be equally divided over the semesters within the loan period.

MTSA’s academic year (loan period) is a year in length and each academic year has three semesters.

Tuition charges will be deducted from the loans first. MTSA will make a deposit of any credit balance into the student’s bank account through an electronic transfer of funds within 14 days of the loan disbursement date. Students can view their disbursements on their CAMS student portal under Billing.

EFT Transfer Procedure

When loan funds are applied against the student’s school charges and it creates a credit balance, the Business Office utilizes an electronic funds transfer (EFT) system to transfer any student credit balance into the student’s personal bank account. Students who request financial aid will be asked to complete an MTSA Authorization Agreement for Electronic Funds Transfer. This form collects bank account information and can be accessed and completed on the CAMS student portal.


  1. MTSA will receive the financial aid disbursement from the Department of Education and/or private loan source.
  2. Tuition charges are deducted from each student’s financial aid disbursement and posted to each student’s school account.
  3. Any remaining credit balance on student’s school accounts will be transferred via EFT to each student’s personal bank account within 14 days of the loan disbursement date, as directed by the MTSA Authorization Agreement for Electronic Funds Transfer.


  • Any change in bank information MUST be given to the Business Office no later than two weeks prior to the disbursement date, by completing a new MTSA Authorization Agreement for Electronic Funds Transfer with the Business Office.
  • If a bank change is made close to a disbursement date, MTSA may not be able to guarantee that the student’s funds will be available on its disbursement date. A bank change may include, but is not limited, to a bank merger, bank name change, bank sale, personal account update.
  • MTSA student accounts are maintained by the Business Office and students may access account information on their CAMS student portal.

MTSA Title IV Cancellation Procedure

Students have a right to cancel all or part of the loan disbursement(s) offered. The loans may be cancelled, with the Financial Aid Office, any time before the loan disbursement dates. Once MTSA is in receipt of the loan funds, students have a right to cancel all or part of the loans within 14 days after the disbursement date for the loan period. In order to cancel any or all of your federal aid, students must confirm in writing the loan type(s) and amount(s) and send the request to Students are responsible for any unpaid balance on their student account. Students will be advised of the status of their request for cancellation.