Grants, Loans, and Work-Study

Pell Grant

Awarded based on need, the Pell Grant is available if you have not yet earned a bachelor’s degree. A confirmed Federal Pell Grant is credited to your CIA student account in two equal installments.

Federal Supplemental Educational Opportunity Grant

Also awarded based on need and if you have not yet received a bachelor’s degree, a Federal Supplemental Educational Opportunity Grant is credited to your CIA student account in two equal installments.

Federal Direct Loans

These low-interest loans for students and parents are offered through the U.S. Department of Education. Direct loans can be subsidized or unsubsidized:

• Subsidized loans are awarded based on financial need. If you qualify, the federal government pays interest on the loan until you begin repayment. Loan proceeds are disbursed in two equal installments credited to your CIA student account.
• Unsubsidized loans do not require a demonstration of financial need. If you qualify, you will be charged interest from the time the loan is disbursed until it is paid in full. You can choose to pay the interest or allow it to accumulate. If you allow the interest to accumulate, it will be capitalized—that is, the interest will be added to the principal amount of your loan and will increase the amount you have to repay. If you pay the interest as it accumulates, you will repay less in the long run.

Direct Loans—amounts for dependent students:

• Degree program freshmen can borrow up to $5,500 (including up to $3,500 Subsidized).
• Degree program sophomores can borrow up to $6,500 (including $4,500 Subsidized).
• Juniors, seniors, and students in the undergraduate certificate program can borrow up to $7,500 (including $5,500 Subsidized).
• Students in the graduate certificate program may borrow up to $20,500 in an Unsubsidized Loan only.
• Dependent undergraduate students whose parents are unable to borrow a Federal Direct PLUS due to adverse credit can receive an additional $4,000 in Unsubsidized Loan funds.

Direct Loans—amounts for independent students (typically 24 years old or older)

• Degree program freshmen can borrow up to $9,500 (including up to $3,500 Subsidized).
• Degree program sophomores can borrow up to $10,500 (including up to $4,500 Subsidized).
• Juniors, seniors, and students in the undergraduate certificate program can borrow up to $12,500 (including $5,500 Subsidized).
• Students in the graduate certificate program may borrow up to $20,500 in an Unsubsidized Loan only.

* If you have a Federal Direct Loan, the loan will be submitted to the National Student Loan Data System and be accessible by guaranty agencies, lenders, and institutions determined to be authorized users of the data system. For more information, visit studentaid.gov.

Federal Direct PLUS Loan*

Federal Direct PLUS Loans are loans for parents of dependent undergraduate students (Parent PLUS) or students in a graduate program (Grad PLUS).

Parents of dependent undergraduate students may apply for a Parent PLUS Loan to help with their child’s educational expenses. “Parent” is defined as the student’s biological or adoptive parent or custodial stepparent. To apply:

• The student completes the FAFSA.
• The parent must not have an adverse credit history.
• The parent must complete the Parent PLUS application and sign the Master Promissory Note (MPN).

Parents can apply for a Parent PLUS Loan up to 180 days prior to the student’s entry date. The amount that may be borrowed is limited to the student’s cost of attendance (as determined by CIA), minus financial aid from all other sources.

To obtain more information about the Federal Direct PLUS program, including the current interest and fee rates, students and parents should visit studentaid.gov.

Students in a graduate certificate program may apply for a Grad PLUS Loan to help with their educational expenses. To apply:

• The student must complete the FAFSA.
• The student borrower must not have an adverse credit history.
• The student must complete the Grad PLUS application, compete the entrance counseling, and sign the Master Promissory Note (MPN).

Students can apply for a PLUS up to 180 days prior to their entry date. The amount that may be borrowed is limited to the student’s cost of attendance (as determined by CIA), minus financial aid from all other sources.

To obtain more information about the Grad PLUS program, including the current interest and fee rates, students should visit studentaid.gov.

* If you have a Federal PLUS, it will be submitted to the National Student Loan Data System (NSLDS) and be accessible by guaranty agencies, lenders, and institutions determined to be authorized users of the data system. For more information, visit studentaid.gov.

Federal Work-Study

As a Work-Study-approved student, you may find employment by applying for one of the jobs at CIA. You will receive a paycheck every other week and may work up to 20 hours per week. Community service Work-Study positions are also available and may be obtained through CIA Student Financial and Registration Services. Although preference for on-campus employment is given to Work-Study-approved CIA students, jobs are not guaranteed. As you are receiving a paycheck, money received through this award is not deducted from your bill by CIA.

Veterans’ Benefits

Veterans, spouses, dependents, and surviving family members of veterans whose death or disability was related to their service may be eligible for educational benefits while attending CIA. Forms and information are available at all Veterans Administration offices. Contact CIA Student Financial and Registration Services for details.

Several U.S. states offer need- or merit-based grants to residents. For additional information, please contact your state education departments to determine availability and eligibility.

New York

New York’s largest grant program is the Tuition Assistance Program (TAP), which helps you pay tuition at in-state postsecondary institutions. Before you file a TAP application, you must complete the FAFSA.

For other New York grants and scholarships, visit the New York State Higher Education website.

California

If you’re a resident of California and enrolled at CIA Greystone, you are eligible for the Cal Grant. Be sure to complete your FAFSA by March 2 of the year you plan to enroll at CIA. For more information, visit the California Student Aid Commission website.

Texas

If you’re a resident of Texas and enrolled at CIA San Antonio, you may be eligible for state aid. For more information, visit the College For All Texans website.

Vocational Rehabilitation

If you have a disability, you may be offered assistance by your state’s Department of Vocational Rehabilitation. Please have your rehabilitation counselor contact CIA Student Financial and Registration Services if you’re offered assistance through this program.

Alternative loans, also known as private loans, are privately funded loans for students and parents to borrow to help fund their education at CIA.

Eligibility and interest rates for alternative loans will generally be based on credit history. These loans may require a cosigner if a student does not have a substantial credit history.

CIA does not use a preferred lenders list, nor do we endorse or recommend any lenders over others. CIA strongly recommends all students file the Free Application for Federal Student Aid (FAFSA) and utilize all federal student loan opportunities before applying for alternative loans.

To help students and their families evaluate multiple different lender options, CIA utilizes ELM Select. This website offers a breakdown of the interest rates, payback terms, fees, etc. of many different lenders our students often use.

Students and parents have the right to choose the lender of their choice. If students wish to choose a lender that is not listed on this website, it is their choice to do so.