Financial AidWays to pay for your digital arts education
Federal School ID: 039733
Ways to pay for your digital arts education
Federal School ID: 039733
Financial Aid related material
- “Financing your Education” chart
- Co-borrower guide
- Scholarship page | Scholarship Application
- Link to FAFSA site
What are grants?
Grants, unlike loans, do not have to be repaid. Eligibility is based on an array of measurements, including family’s expected contribution, number of dependent family members, your student status, and any continuing academic requirements.
Federal Pell Grants
Pell Grants are awarded usually only to undergraduate students who have not earned a bachelor’s or a professional degree. The maximum Pell Grant award for the 2010-11 award year (July 1, 2010 to June 30, 2011) is $5,550. The amount you get, though, will depend not only on your financial need, but also on your costs to attend school, your status as a full-time or part-time student, and your plans to attend school for a full academic year or less.
Federal Supplemental Educational Opportunity Grants (FSEOG)
The Federal Supplemental Educational Opportunity Grant (FSEOG) program is for undergraduates with exceptional financial need. Pell Grant recipients with the lowest expected family contributions (EFCs) will be considered first for a FSEOG. Maximum award amount is $500/year.
Academic Competitiveness Grant (ACG)
The Academic Competitiveness Grant provides up to $750 for the first year of undergraduate study and up to $1,300 for the second year of undergraduate study. Eligible student must have completed a rigorous secondary school program of study (after January 1, 2006, if a first-year student, and after January 1, 2005, if a second-year student).
California State Grant Program (Cal Grant)
Cal Grants offers financial aid and grants for any qualifying California college, university or technical school in California. California residents must meet academic, financial and eligibility requirements as defined by the California Student Aid Commission. For more information and application, visit calgrants.org.
Loans
Student loans are a form of aid that needs to be repaid. There are many types of student loans, which may or may not be need-based. The financial aid office will determine your eligibility.
Why choose Federal Direct Stafford Loans?
- Low interest rate loan - 4.5% fixed for Subsidized, 6.8% for Unsubsidized
- 0.5% origination and default fee (accounts for 1% Upfront Direct LoanRebate)
- Repayment on the loans begins 6 months after the last date of attendance or when a student drops below half time
- The student has up to 10 years to repay this loan
- No credit check is required
| Dependent student 1 | Dependent student 2 | |
|---|---|---|
| 1st-year undergraduate | $5,500 (maximum $3,500 subsidized)
|
$9,500 ($3,500) 3 |
| 2nd-year undergraduate | $6,500 ($4,500) | $10,500 ($4,500)
|
| 3rd- and 4th-year undergraduate | $7,500 ($5,500) | $12,500 ($5,500)
|
|
Except those whose parents are unable to borrow a PLUS loan. These limits also apply to dependent students whose parents are denied a PLUS loan. The numbers in parentheses represent the maximum amount that may be subsidized. |
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More Information
For more information and/or to apply, please visit www.studentloans.gov
Why choose Federal Direct PLUS
(Parent Loan for Undergraduate Student) Loans?
- Parent loan for dependent students
- Low interest rate loan - 7.9% fixed
- 2.5% origination and default fee (accounts for 1.5% Upfront Direct Loan Rebate)
- Option of postponing repayment until 6 months after student’s last date of attendance or when a student drops below half time
- The parent has up to 10 years to repay this loan
- Instant credit check
- Can borrow up to COA minus all other financial assistance
The up-front interest rebate on Direct loans is an incentive initiated by the U.S. Department of Education in 2000 to promote on-time loan payments.
For Direct Stafford loans the rebate is 1% of the amount borrowed.
For Direct Parent PLUS loans the rebate is 1.5% of the amount borrowed.
These rebates reduce the origination fee, which is deducted from the amount borrowed. To retain the up-front rebate, borrowers who are in loan repayment will need to make the initial 12 consecutive monthly payments on time. If you do not make these first 12 monthly payments on time, you will lose the rebate and the rebate amount will be added to your principal balance, which will increase the amount that you repay on the loan.
More Information
For more information and/or to apply, please visit www.studentloans.gov
Private Loans
Interest rates and repayment schedules vary by lender and credit checks are required for private loans. Having a cosigner may result in a lower interest rate. Sallie Mae offers loans to students to help supplement college costs not covered by federal financial aid.
Features of Sallie Mae Smart Option Student Loan
- Student is the primary borrower of the loan
- Cosigner may be required to obtain loan approval and/or to help lower interest rate
- Interest rate is based on borrower and cosigner’s credit
- Interest only payments while student is in school
- Borrowers may apply for cosigner release after successful completion of their education
- Instant credit check
- Repayment terms depend on loan amount
Why should I complete my Sallie Mae Smart Option Student
Loan application online?
- Instant credit check for approval
- Ensure application is completed correctly
- Ability to electronically sign application online
- Easily accessible by signing into your account
- Ability to send information to cosigner for easy cosigner application online
More Information and to apply, go to:
- Click ( left side of screen )
- Click
- Click
Find out more about the Sallie Mae Smart Option Student Loan®
For more details on federal and private loans visit the EdFund website.
Federal Work Study (FWS) Program
The FWS Program provides job opportunities for eligible students who must earn part of their educational expenses. The salary is generally the current federal minimum wage and students are paid by the hour. The number of hours a student may work is based upon financial need, the number of hours possible for the student to work, and the availability of funds at the institution. A limited number of jobs are available on campus. Students are responsible for finding qualifying work study employment. For more information, contact the Financial Aid Office.
Terms and Conditions of Employment Under Federal Work Study
Students wishing to participate in the Federal Work Study Program must be awarded financial aid and have FWS eligibility as a part of their award package. To apply for financial aid, students must file a Free Application for Federal Student Aid (FAFSA) and indicate employment as their first choice for self-help aid.
Separate applications for financial aid are required for each academic year that a student wishes to be considered for employment under FWS.
Once a student has earned his/her award maximum, the student will be terminated from the work study program. Additionally, a student will be terminated from the FWS Program if the student drops below the minimum requirements of six (6) credits or at the end of each academic term. Upon termination students should contact the Financial Aid Office to determine if they have any remaining work study eligibility. The Financial Aid Office will conduct an evaluation of eligibility.
If eligible the student may request for additional work study funding through the Financial Aid Office.
If inelgible for further FWS the department which employs the student may choose to hire the student at 100% departmental funding or the student must stop working and the department will terminate him/her from the Human Resources System.
Federal Work Study awards are not credited to a student’s account. A pay check is issued every two weeks to the student for the time worked.
Scholarships
In addition to student loans, scholarships can be a source of funding. Please see the Scholarship page for additional information on available scholarships. Additionally, the Financial Aid Office can provide students with a list of available scholarship databases to assist in the student’s search.
Paying Tuition Directly
Students may also choose to pay tuition directly. Ex’pression has three payment options available to students.
If payment is made in full for the total program the tuition will not increase for 8 semesters. However, if a student requires more than 8 semesters to graduate, additional tuition will be billed for each additional semester at the rate in effect at the time the student has exceeded 8 semesters. Total Pre-payment $84,320.
A payment of $10,540 is due on the first day of each semester. By choosing this option there are no interest or maintenance charges; however, there is a late fee of $50 if payment is five or more days late.
The balance for each semester is paid in three equal payments of $3,513.33. There is a $50 administrative fee due with the first payment of every semester and a late fee of $50 if payment is five or more days late.
Tuition is typically revised annually; therefore, the actual cost of the degree program may be higher. If a student enrolled full-time requires more than 8 semesters to graduate, additional tuition will be billed for each additional semester at the rate in effect at the time.
For more information on any of these financial aid or payment options, contact Financial Aid at financialaid@expression.edu.
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