- How do I apply for financial aid?
- When should I apply for financial aid?
- What is the total cost of the MTCM program?
- What type of financial aid is available?
- When will I receive my financial aid disbursement?
- How long can I receive financial aid?
- How will I repay my loans?
- Is there a Federal Work-Study program available?
- Are scholarships available?
- Who is eligible to receive federal aid?
- Who do I contact for more information?
How do I apply for financial aid?
Five Branches University is an accredited institution of higher education approved to participate in federal financial aid programs. Eligibility for financial aid is determined using a federal formula as outlined by the U.S. Department of Education. For detailed instructions on how to apply for financial aid please refer to: Applying for Financial Aid
When should I apply for financial aid?
You may submit your FAFSA anytime beginning January 1 of the current year-through the end of the academic year for which you are applying. If you are a continuing student and want to have financial aid available to pay tuition at the start of the Fall semester, you will want to complete your FAFSA by April 15 of the current year.
What is the total cost of the MTCM program?
You can expect to pay between $56,000 and $60,000 for the total cost of the DTCM/MTCM program including: tuition, fees, books, and supplies. Your living costs would be in addition to this amount.
The following budgets reflect reasonable, estimated costs associated with the DTCM/MTCM program eight-month academic year (two terms).
Tuition & Fees
Direct Loan Fees
Room & Board
Books & Supplies
Two Terms (8 months)
This budget is for estimating purposes only and does not consider additional expenses such as: child care, additional transportation needs, medical expenses, etc. Personal budgets may need to be adjusted on a case-by-case basis. Additional expenses not included in the cost of attendance are addressed in the Additional Expenses Appeal Policy located in the Student Handbook.
What type of financial aid is available?
Five Branches University is approved for participation in the Federal Direct Stafford Loan and the Federal Direct Graduate PLUS Loan programs. All loans are funded through the Federal Direct Loan program. The amount and types of aid you will be awarded depend upon your status as a graduate or undergraduate student.
Graduate students may receive up to $20,500 per academic year in Federal Direct Unsubsidized Stafford Loans, depending on remaining aggregate eligibility. Federal Direct Unsubsidized Stafford Loans have a six-month grace period (following graduation) before principal payments are due; however interest begins accruing upon the disbursement of the loan. Students can elect to pay the interest while enrolled in the DTCM/ MTCM/MAc program, or allow it to accrue and be capitalized (added to the principal).
Federal Direct Graduate PLUS Loans are available to graduate students with a good credit history, determined in the credit pre-approval process. The Federal Direct Graduate PLUS Loan is available to students who have received the aggregate maximum amount of Stafford loans. The amount a graduate student can borrow is the difference between the cost of attendance and other financial aid received. Graduate PLUS Loans have a six-month post-enrollment deferment period, following graduation (or if you are no longer enrolled on at least a half-time basis), before principal payments are due; however interest begins accruing upon the disbursement of the loan. Students can elect to pay the interest while enrolled in the DTCM/MTCM/MAc program, or allow it to accrue and be capitalized (added to the principal) at repayment.
Please Note: Students who receive federal loans must participate in Entrance Loan Counseling prior to the disbursement of their loan. Students are also required to complete Exit Loan Counseling prior to graduation.
When will I receive my financial aid disbursement?
Loans and grants are disbursed at the beginning of each term. Financial aid received is first applied to any outstanding balance owed to Five Branches University. Aid in excess of what you owe will be issued to you by check. Earnings from the Federal Work-Study Program will be paid for work completed on a bi-monthly basis.
How long can I receive financial aid?
You are eligible to apply for financial aid for each year you are a student at Five Branches University. You are required to progress through the DTCM/MTCM or MAc program at a satisfactory rate and complete the program within the maximum time frame- six years to complete the DTCM/MTCM program and five years to complete the MAc program. You may receive Federal Direct Student Loans during any term of enrollment of six or more units. Since students must complete the program by the maximum timeframe, receipt of aid for more than four terms of less than full-time enrollment (less than 12 units) will require approval by the Student Progress Review Committee. Satisfactory academic progress will be reviewed after each term to determine your continued eligibility to receive financial aid.
How will I repay my loans?
Loans are generally repaid over a ten-year period. For every $10,000 borrowed at 6.8% interest, students can expect a payment of $115 per month for a 10-year period. If you borrow $20,500 annually from the Stafford loan program for a four-year period, you would owe $82,000 at the conclusion of the DTCM/MTCM/MAc program. To repay this amount in 10 years would necessitate a monthly payment of $943. The average amount borrowed is $171,000. There are several different repayment options, deferment programs and income-based repayment plans available to help you manage your financial obligations while growing your practice. For more information regarding repayment, please visit: http://studentaid.ed.gov/repay-loans.
Is there a Federal Work-Study program available?
The Federal Work-Study program allows students to earn money to help pay for their educational expenses. Students may apply for available student employment at Five Branches and receive a pay check that is partially funded by the Department of Education. If you are interested in applying for the Federal Work-Study program you must complete the Free Application for Federal Student Aid (FAFSA) which is available online at: www.fafsa.ed.gov
Are scholarships available?
The majority of our scholarship funds come from private donors and TCM affiliated organizations with a sincere interest in supporting Five Branches students and the growth of the TCM profession. Students attending Five Branches are eligible for numerous scholarships ranging from $500 to $5,000 per academic year. For a listing of the current scholarships available go to: Scholarships or contact the admissions office at 831-476-9424, or firstname.lastname@example.org for more information.
Who is eligible to receive federal aid?
To be eligible for federal financial aid, regulations specify that a student must meet all of the following criteria:
- Enrolled or accepted for enrollment as a degree-seeking student in the DTCM/MTCM/MAc program.
- A U.S. citizen or an eligible non-citizen (students attending Five Branches on a student visa do not qualify as eligible non-citizens). Contact the financial aid office for more information.
- Must have a valid Social Security number (SSN).
-The FAFSA completed, with all supporting documentation submitted (such as federal tax forms, when applicable), and all application information verified.
- Satisfactory academic progress and in good standing, according to Five Branches University’s academic policy.
- Not in default on a federal educational loan and do not owe a refund on a federal student grant.
- Registered with the Selective Service, if a male born between the ages of 18 and 25.
Who do I contact for more information?
Director of Financial Aid
200 7th Avenue
Santa Cruz, CA 95062
PH#: (831) 476-9424 ext 33
FAX#: (831) 476-8928
Director of Financial Aid
1885 Lundy Ave, Suite 108
San Jose, CA 95131
PH#: (408) 260-0208, ext 218
FAX#: (408) 261-3166
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