Paying For College at 黑料不打烊
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聽Financial Services & Aid
Your education is a big investment, but like most investments, it takes some amount of money up front. A new career can transform your life, so paying for education shouldn鈥檛 stand in the way.
黑料不打烊 has an entire team here to help you find ways to make your education more affordable. We participate in most financial assistance programs, both federal and state, as well as private financing. Each program has different requirements and application instructions. Student loans, grants, and scholarships are available to those who qualify.
Learn more about how to pay for college and what resources may be available.
How Much Does it Cost to Attend 黑料不打烊?
Paying for education is an investment in your future and all students鈥� journeys are unique. Tuition costs vary by program, degree conferred, campus, and time to complete. For example, a program that results in an Associate Degree and takes multiple years to complete will cost more than a program resulting in a certificate of achievement that can be completed in as few as 9 months. Some programs may also require additional costs like background checks or health screenings. Complete information about the cost of attending 黑料不打烊 can be found in the聽academic catalog.
You can also get a general idea of costs of attending 黑料不打烊 through the聽Net Price Calculator. This tool will let you estimate specific college costs or your total education costs.
How Much Financial Aid Can I Get?
The Net Price calculator can also give you an idea of how much financial aid you can qualify for. The calculator provides only a rough estimate of financial aid and is only as accurate as the data entered into it but can prove helpful as you start to think of how to pay for college.
黑料不打烊 applicants are encouraged to meet with a Financial Services Advisor prior to enrollment so that eligibility for financial assistance may be determined. This practice enables applicants to evaluate their options for financing. 鈥淔unding Your Education,鈥� which explains each of the federal financial aid programs and is published by the U. S. Department of Education, is available from the Financial Services Department.
How Does Financial Aid Work?
Earning a higher education and paying for higher education can feel like two gargantuan tasks. While some students may be able to pay for college without assistance.聽 According to the National Center for Education Statistics, 87% of first-time, full-time degree/certificate-seeking undergraduate students were awarded financial aid at (private for-profit) 2-year degree-granting postsecondary institutions in academic year 2020-21.聽For this calculation, student financial aid includes any federal and private loans to students and federal, state/local, and institutional grants. Student loans include only loans made directly to students; they do not include Parent PLUS Loans or other loans made directly to parents.
This financial aid can come in the form of:
- Grants聽鈥� A Federal Pell Grant, unlike a loan, does not have to be repaid, except under certain circumstances.
- 尝辞补苍蝉听鈥� funds that are borrowed to pay for education and need to be repaid over time.
- Scholarships聽鈥� gifts to help pay for education that do not need to be repaid but may have different requirements outside of financial need.
Grants, loans, and scholarships can come from a wide range of sources, including federal or state governments, private financial institutions, or private groups.
This guide will help you understand how to pay for college and what financial aid programs you may be eligible for including:
- Federal grants
- Federal loans
- Federal work study programs
- State-specific financial aid
- Veteran benefits
- Private loans
- Carrington-sponsored payment plans and scholarships
- Private scholarships
Federal Student Aid
There are three categories of federal financial aid for students: grants, loans, and Federal Work-Study.
Students are eligible for these types of aid if they:
- Are enrolled as a certificate or degree-seeking student.
- Are U.S. citizens or eligible non-citizens.
- Demonstrate financial need.
- Make satisfactory academic progress toward completing their program.
- Are not in default on a Federal Perkins/NDSL, Federal Direct, Federal Stafford/FFEL, Federal SLS, Income Contingent Loan, or Federal PLUS Loan received at any institution.
- Do not owe refunds on a Federal Pell Grant, FSEOG, Academic Competitiveness Grant, National SMART Grant, or State Student Incentive Grant received at any institution.
- Have a high school diploma or recognized equivalent.
Federal student aid is designed to help all students obtain postsecondary education. There is no income cut-off to qualify for federal student aid. Many factors are taken into account, including the size of your family and your year in school.
Carrington is an eligible institution approved by the Department of Education to participate in the following programs:
- Federal Pell Grant
- Federal Supplemental Educational Opportunity Grant (FSEOG)
- Federal Direct Student Loan
- Federal Parental Loan for Undergraduate Students (FPLUS)
- Federal Work Study Program (campus participation varies)
Federal Grants
Carrington is an eligible institution approved by the Department of Education for both Federal Pell Grants and Federal Supplemental Educational Opportunity Grants.
Federal Pell Grants
Federal Pell Grants help fund post-secondary education for undergraduate students who have not previously earned bachelor鈥檚 degrees. The maximum grant for the2023-24 and 2024-25 award years is $7,395.
Do You Have to Pay Back Pell Grants?
Grants are need-based and do not require repayment if the student remains in school during that term. For many students, these grants provide a foundation of financial aid to which aid from other sources may be added.
The actual amount of the grant is based on the cost of attendance, number of hours enrolled, Federal Pell Grant regulations, and your Expected Family Contribution for 2023-24 or your Student Aid Index (SAI) for 2024-25 foundon the FAFSA庐. FAFSA庐聽is a registered trademark of the U.S. Department of Education.
.
Federal Supplemental Educational Opportunity Grants (FSEOG)
FSEOGs provide supplemental funds to Federal Pell Grant-eligible undergraduate students who demonstrate exceptional need. Exceptional need is defined as the lowest Expected Family Contribution (2023-24 FAFSA form) or Student Aid Index (2024-25 FAFSA form) per federal need analysis methodology. Because FSEOG funds are limited, students should apply for these grants as early as possible.
You can typically receive between $100 and $600 a year, depending on your financial need, when you apply, the amount of other aid you get, and the availability of funds. These funds do not need to be repaid.
听补苍诲听contact Carrington鈥檚 financial aid office聽to learn more.
Federal Loans
Students may need to borrow additional funds to pay for education beyond what a grant can provide. For many students, that means they turn to federal loans. Students can borrow money from the U.S. government to pay for college. These funds must be repaid over time, often with interest. The government provides two loan types: Federal Direct Loans and Federal Parent Loans for Undergraduate Students (FPLUS).
Federal Direct Student Loans
Federal Direct Student loans are available to students to help pay for college. Amounts dispersed vary depending on the student鈥檚 dependency status, their financial need, and if the loan is subsidized or unsubsidized.
A聽subsidized federal loan聽is available to students who demonstrate financial need. Because the loan is subsidized, the loan will not accrue interest when a student is enrolled in school at least half-time, for the first six months after leaving school, and during a period of deferment.
An聽unsubsidized federal loan聽is available to all students, regardless of need. This loan accrues interest from the time it is originated until it is paid in full.
Monthly payments are based on aggregate borrowing; the minimum monthly payment can vary. Typical repayment is completed within 10 years. However, other repayment options are available that may be affordable for you. Students who leave school or drop below half-time status must contact their lender(s) to establish repayment schedules.
Federal Parental Loans for Undergraduate Students (FPLUS)
These FPLUS loans allow parents to borrow money for their dependent鈥檚 college. These loans operate similar to direct loans, but there is no subsidy available. The interest rate for Direct PLUS Loans first disbursed on or after July 1, 2023 and before July 1, 2024 is fixed at 8.05%. Repayment typically begins within 60 days after the loan is fully disbursed.
Federal Work-Study Program
The Federal Work-Study program enables students who demonstrate financial need to earn wages to assist with paying for their education expenses through part-time education-related or community-service employment. Students earn at least the current hourly minimum wage by working at Carrington for nonprofit agencies or for-profit businesses within the community.
Carrington can help eligible students locate jobs, though certain restrictions apply. Unlike traditional sources of income, FWS earnings are exempt from the subsequent year鈥檚 expected family contribution calculations. Students must complete the FAFSA庐聽to be considered for FWS funds.
Veteran Benefits for Students
The U.S. Department of Veteran Affairs offers tuition benefits for military members, spouses and children. If you believe you are eligible for Veterans Administration (VA) benefits, please contact the Financial Aid Office at your local campus. You may also get information on the Carrington programs that are approved for VA funding through the VA鈥檚聽.
Students who may qualify for veteran鈥檚 education benefits should notify their Carrington Enrollment Advisor/Representative and Financial Services Advisor regarding eligibility as far in advance of their scheduled class start date as possible.
Private Student Loans
If you are unable to cover the costs of college with federal aid or out-of-pocket payments, you may need to take out private student loans. Private student loans are non-federal loans made by a lender such as a bank, credit union, state agency, or a school.
Learn more about the聽.
Choosing a Private Student Loan Provider
When choosing a private student loan lender, there are a few factors to consider. First, gather a wide variety of lenders, including banks, credit unions and online platforms. Consider factors such as fees, interest rates and length of repayment, along with options to pause payments if necessary.
You may need to apply for private student loans with a co-signer to help establish your creditworthiness or obtain a lower interest rate or repayment terms.
Scholarships
Scholarships are gifts to help pay for college, meaning they don鈥檛 need to be repaid. Unlike grants, scholarships may be available outside of financial need. Local organizations may provide scholarships, as well as interest and affiliate groups related to your program of study.
Carrington High School Scholarship
Graduating high school seniors or those who have graduated high school during the most recent academic year may be eligible for the聽Carrington High School Scholarship聽of $1,000 to apply toward tuition.
Scholarship applicants must meet the following criteria to qualify:
- Satisfy Carrington admission requirements
- Begin classes by December 31
- Submit high school transcripts evidencing a CGPA of 2.0 or better on a 4.0 scale
- Maintain a CGPA of 2.0 or better on a 4.0 scale for continued eligibility
As well as submit the following by the published deadline:
- Completed scholarship application
- Two letters of recommendation
- 50-to 150-word essay about why the student is interested in a career in the chosen field
黑料不打烊 scholarship awards cannot exceed tuition charges and will be applied directly to those charges. In the event that a student鈥檚 tuition charges are less than the scheduled scholarship award, the scholarship will be reduced to the amount of the tuition charge. In the event of early withdrawal, the scholarship award will be limited to the same percentage of tuition earned in accordance with the college鈥檚 refund policy. The deadline for submission of scholarship applications and accompanying materials is September 30 of the graduation year.
How to Apply for Financial Aid
While the process of applying for financial aid may vary depending on type of aid, lending or awarding institution, or other factors, many times, the first step is filling out the Free Application for Federal Student Aid (FAFSA庐).
For private loans, scholarships, or other awards, check with the provider鈥檚 website and follow application processes.
Free Application for Federal Student Aid (FAFSA庐)
The Free Application for Federal Student Aid is a central document that can help students apply for assistance for a number of programs, including Federal student aid, state-specific programs, and Institutional financial options. The purpose of the FAFSA庐聽is to determine the amount of assistance for which students are eligible. This analysis takes into account factors such as income, assets, the number of family members in a household, and the number of family members who are enrolled in college.
To fill out the FAFSA庐聽form you will want to:
- Create a studentaid.gov account this username and password combination allows you to sign your FAFSA庐form electronically. Your studentaid.gov account also can be used to access the myStudentAid app, sign loan contracts, and access certain information online.
- Gather important documents:聽The FAFSA庐will ask for identifying and financial information. Before filling out the form make sure you have your social security number, your parents鈥� social security numbers if you are dependent, federal tax information for you or your parents, information on cash and assets such as property, and more. Be sure to keep these records as you may need them again.
FAFSA庐聽forms are available online on Oct. 1 for the next school year. Students may come in person to their respective Financial Services office to complete the FAFSA庐聽or renewal. These forms can also be completed online at聽.
What Happens Next?
Upon submission of the FAFSA庐, students will be sent a Student Aid Report (SAR) if completing the 2023-2024 FAFSA or FAFSA Submission Summary (FSS) if completing the 2024-25 FAFSA. These should be checked for accuracy and any necessary corrections should be made as soon as possible. The SAR or FSS will also indicate if additional information is needed to confirm eligibility. Once the SAR has been determined to be complete, a financial aid award letter will be sent to the student which will state the student need (education cost), family contribution, amount of grants awarded, and the amount of loan monies available, if needed.
In order to receive unsubsidized or subsidized loan funds, students must complete a Master Promissory Note and return it to the lender along with other required documents. Funds are then dispersed by the Student Accounts Manager, as described in the Award Letter, to the student鈥檚 school ledger card.
When to Apply
Students should apply for financial aid prior to or during their enrollment process at Carrington. Completing the FAFSA庐 is often a part of applying for aid through most application portals.
Tips on Repaying Student Loans
The U.S. Department of Education has many resources available to help you manage the repayment of your student loans.
They provide information on:
Financial Aid Resources
When starting to look for financial aid, the following pages may be helpful.
Financial Aid FAQ
What is financial aid?
Financial aid refers to any funds available to you and/or your parents to help offset the cost of higher education. These funds can come from private, government or institutional resources.
Who should apply for financial aid?
You should apply for financial aid if you need assistance with the cost of higher education. You are eligible to apply regardless of your income level. Financial aid is available to those who qualify.
What is the FAFSA庐?
The FAFSA庐聽is the Free Application for Federal Student Aid that you must complete if you wish to apply for financial aid. This application can be accessed online using this link:聽.
What is the verification process?
Verification is the process the college follows to confirm the accuracy of the information you reported on your FAFSA庐. If your application is selected for verification by the Department of Education, the college will contact you to request additional information, such as copies of your and your parent(s)/spouse鈥檚 (if you are married) Federal Tax forms or W-2 forms or other financial documents.
Am I considered a dependent or independent student?
It depends. You must answer a series of dependency questions outlined by the Department of Education. Answers you provide will determine if you鈥檙e considered to be an independent or dependent student for federal student aid purposes. If you are independent, you do not have to provide information about your parents on the FAFSA庐. If you are dependent, you must provide information about your parents on the FAFSA庐.
What do I need to do to keep getting financial aid while I鈥檓 a student?
You must successfully complete course work and meet satisfactory academic progress in your program of study in order to receive and maintain your eligibility for financial aid. Also, Financial aid plans need to be updated every academic year.
Where am I going to get most of the money to pay for college?
Most students get the majority of their funding from Federal Financial Aid to cover program costs. If financial aid does not cover your program costs in full, then you must select a secondary (or alternative) option to cover your remaining balance.
What other options do I have to pay for college?
Other resources to pay for college include institutional loans, employer tuition reimbursement, military education benefits, local, community and private organizations, and scholarships or grants.
Who do I contact if I change my address or telephone number?
Notify your college in writing within 10 days of any changes. If you have obtained federal student loans and need to notify your loan servicer of your new address, you should contact the loan servicer directly to make the change.
Sources:
FAFSA庐聽is a registered trademark of the U.S. Department of Education.
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