The goal of the Financial Aid Department at Specs Howard School is to assist eligible students in applying for and receiving financial assistance. All financial aid paperwork must be submitted to the Financial Aid Department prior to orientation (unless an extension is granted by the Financial Aid Department) or the student may be placed on a cash payment plan. Specs Howard School reserves the right to suspend or administratively withdraw a student who does not meet cash payment obligations.

The Financial Aid Department is expected to always maintain exemplary standards of professional conduct. For details, see our Financial Aid Code of Conduct. The Financial Aid Office at Specs Howard School may be contacted by calling 248-358-9000 or via email at

In order to apply for federal financial aid funding you must complete the Free Application for Federal Student Aid (FAFSA). Once you have completed the first phase of the admissions process and you have been accepted into a Specs Howard program, you will be assigned a Financial Aid Officer to assist you in completing the form. You may also complete the form online at A paper version of the Free Application for Federal Student Aid is available upon request.

Learn more about Financial Aid Application & Procedures


What is financial aid?

Financial Aid is any financial assistance from the government for your education. This includes loans, as well as grants. Your Financial Aid eligibility will be determined once you have met with a Financial Aid Officer.

When is the financial aid office available?

There is someone in the Financial Aid Office from 9am to 6pm Monday through Friday. Evening appointments are also available.

What should I bring to my Financial Aid appointment?

First, answer these questions:

    1. Are you age 24 by January 1 of the current financial aid year?
    2. Are you a veteran of the Armed Service?
    3. Are you married?
    4. Are both of your parents deceased, or are you (or were you until age 18) a ward of the court?
    5. Do you have dependents for whom you provide at least 51% of their financial support
    6. Are you currently serving on active duty in the US Armed Forces for purposes other than training?

If you answered?YES?to any of the above questions, bring with you:

  • Previous year’s Federal Tax Return and W2 forms for you (any your spouse if applicable)
  • Previous year’s year-end statements from SSA, FIA, Worker’s Compensation, Child Support or any other benefits received for you (and your spouse if applicable)

What is the difference between a grant and a loan?

A grant is need-based money from the government that you do not need to pay back. A loan is borrowed money that must be paid back with interest.

Specs Howard offers three different Federal Student loans:

  • Federal Direct Stafford Subsidized Loan: Based on need and no interest until you start repayment
  • Federal Direct Stafford Unsubsidized Loan: Not based on need and interest accrues once the loan is disbursed
  • Federal Direct Parental Loan for Undergraduate Students (Plus loan): Parent borrows loan funds to pay education expenses of a dependent student and is not need based.

When Do My Loans Go Into Repayment?

Federal Direct Stafford loans go into repayment six months after you leave school. The Federal Direct Plus Loan (parent loan) will go into repayment four to five months after you start school.

What is the interest rate on my loan?

Federal Direct Subsidized Loans have a fixed interest rate of 3.4% and Federal Direct Unsubsidized Loans have a fixed interest rate of 6.8%. The Federal Plus loan (parent loan) has a fixed interest rate of 7.9%. An example of a loan repayment schedule follows:

IMPORTANT NOTICE: The repayment calculator at the official Federal Student Aidwebsite calculated the following estimates. However, these values may not reflect the actual amount computed by the Direct Loan Servicing Center. This calculator may also be used to estimate repayment on specific loan amounts not listed below.

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