CCA Financial Aid Award Guide

CCA is grateful for the generous support of private donors, state and federal financial aid programs, and past aid recipients who have repaid their loans. Regulations established by particular donating individuals, organizations, and agencies ensure that each type of financial aid is offered only to students who need and will make proper use of the funds. By accepting such support, both the college and the recipient incur responsibilities. All students should keep this award letter guide for ready reference. Visit cca.edu/financialaid for additional information about the various programs available at CCA; applying for Direct Loans, PLUS Loans, and alternative loans; maintaining your eligibility for financial aid; or petitioning for an increase in your estimated cost of attendance or a reevaluation of your award.

PRINTED ON 50 PERCENT RECYCLED CONTENTDESIGN: CCA SPUTNIK / LIZ TRAN

CCA provides financial aid and other assistance programs to make its arts education affordable for admitted students. The type and amount of financial aid that students are offered is based on their—and, when applicable, their parents’—financial circumstances and the strength of their applications for admission. CCA is committed to awarding financial aid to each student who demonstrates finan-cial need and, as a general rule, maintaining a consistent level of aid during the student’s enrollment at the college.

This guide is designed to help you understand your financial aid

award letter, with specifics about each financial aid program as well as general information. It will also help you under-stand the next steps: the process for accepting financial aid and the respon-sibilities involved.

Financing a CCA education requires a partnership among you, your parents (for dependent undergraduate students), state and federal government programs, and the college. Families are asked to contrib-ute based on their financial resources, and students may be offered student loans and work-study.

CCA pulls together all federal and state financial aid for which you are eligible and also provides scholarship support, as it can, to cover the difference between your educa-tional costs and what your family is expected to contribute.

Additional loan funding—including federal parent PLUS Loans, federal graduate PLUS Loans, and alternative educational loans—may be available to some students. Contact us or visit cca.edu/financialaid for more information beyond what is covered in this guide.

FINANCIAL AID RESOURCES

U.S. DEPARTMENT OF EDUCATION STUDENT

FINANCIAL ASSISTANCE

For questions about eligibility for federal student aid:studentaid.ed.gov or fafsa.gov800.4.FEDAID

CALIFORNIA STUDENT AID COMMISSION

For questions about California state grant programs:www.csac.ca.gov916.526.7590

U.S. DEPARTMENT OF EDUCATION

DIRECT LOAN PROGRAM

direct.ed.gov

FEDERAL DIRECT LOAN MASTER PROMISSORY

NOTE & ENTRANCE COUNSELING SESSION

studentloans.gov

SELECTIVE SERVICE SYSTEM

sss.gov

SCHOLARSHIP SEARCHES

CCA GUIDE TO ADDITIONAL AID RESOURCES

cca.edu/admissions/financialaid/otheraid

FINAID

finaid.org

FASTWEB

fastweb.com

COLLEGE ANSWER

collegeanswer.com

BROKE SCHOLAR

brokescholar.com

CCA ADMINISTRATIVE OFFICES

FINANCIAL AID

tel: 415.703.9528fax: [email protected]

ENROLLMENT SERVICES (ADMISSIONS)

tel: 415.703.9523 or 510.594.3698fax: [email protected]

STUDENT ACCOUNTS (BILLING)


STUDENT RECORDS

(REGISTRATION/ADDRESS CHANGES)


1111 Eighth Street, San Francisco CA 94107-22475212 Broadway, Oakland CA 94618-1426tel: 800.447.1ARTcca.edu

CCA administrative offices are open Monday through Friday, 8 a.m.–4:30 p.m.

Financial Aid Resources,CCA Administrative Offices, Scholarship Searches

President’s Creative Achievement Award

Awarded to entering first-year students. Recipients must be enrolled full time. May be renewed for up to four years if the recipient maintains good academic standing.

Creative Scholarship

Awarded to entering first-year students based on the strength of their portfolios and academic achievements. Recipients must be enrolled full time. May be renewed for up to four years if the recipient maintains good academic standing.

Faculty Honors Award

Awarded to entering community-college transfer students based on the strength of their portfolios and academic achievements. Recipients must be enrolled full time. May be renewed if the recipient maintains good academic standing.

Graduate Merit Scholarship

Awarded by the graduate admissions committee to outstanding prospective graduate students. Recipients must be enrolled full time. Qualifying students may combine this award with need-based scholarships. May be renewed if the recipient maintains good academic standing.

Diversity Scholarship

Awarded to qualified undergraduate and graduate students with demonstrated financial need who are entering in the fall semester and bring diverse experiences, ideas, and creative work to the CCA community. Recipients must be enrolled full time. May be renewed if the recipient maintains good academic standing.

CCA Scholarship

Awarded to students with demonstrated financial need. Recipients must be enrolled full time. Students in their graduating semester may request a prorated award.

Trustees’ Scholarship and President’s Scholarship

Awarded to students with demonstrated financial need and strong grade point averages. Recipients must be enrolled full time. May be renewed if the recipient maintains good academic standing with at least a 3.0 grade point average.

Named and Emeritus Scholarships

Awarded based on scholarship-specific eligibility criteria and a student’s total eligibility for institutional scholarships as determined by CCA’s awarding policies. Recipients must be enrolled full time and in good academic standing.

All-College Honors Prize

Awarded based on a juried portfolio review. Recipients must be in good academic standing and enrolled full time for the fall semester following the competition.

All admitted students who file a Free Application for Federal Student Aid (FAFSA) are automatically considered for every need-based CCA scholarship for which they are eligible. No separate scholarship applications are required.

cca

scholarships

federal pell grant

Awarded to low-income undergraduates who are seeking their first bachelor’s degree. Award amounts are determined by the U.S. Department of Education and are based on a student’s Expected Family Contribution (EFC) and enrollment status. Awards range from $602 to $5,550 for full-time students. Recipients must be in good academic standing.

Federal Supplemental Educational Opportunity Grant

Awarded to undergraduates with demonstrated financial need who are seeking their first bachelor’s degree. Priority goes to full-time Pell Grant recipients with high financial need. Recipients must be in good academic standing.

Cal Grant A

Provides tuition and fee assistance to undergraduate California residents seeking their first bachelor’s degree. Awarded on the basis of cumulative grade point average and financial need. Currently, qualifying students can receive up to $9,708 annually. Cal Grant award eligibility is evaluated each year and can be renewed for up to a total of four years. Continuing Cal Grant recipients must file a FAFSA each year, maintain good academic standing, and continue to demonstrate financial need. Students are not required to resubmit verification of their grade point averages to renew an existing award.

Cal Grant B

Provides a living-allowance stipend and tuition and fee assistance to undergraduate California residents seeking their first bachelor’s degree. Awards are based on cumulative grade point average and high financial need. Recipients are generally from disadvantaged economic or educational backgrounds. Awards for first-year students provide up to $1,551 for books and living expenses. Cal Grant eligibility is reevaluated each year, and grants can be renewed for up to a total of four years. When renewed (or applied for) beyond the first year, awards also include tuition and fee assistance. Continuing recipients must file a FAFSA each year, maintain good academic standing, and continue to demonstrate high financial need. Students are not required to resubmit verification of their grade point averages to renew an existing award.

Students who are awarded a Cal Grant after receiving their initial financial aid award letter should anticipate a revised award letter with reduced institutional scholarship assistance.

NOTE: The Cal Grant information presented here is subject to change at any time based on California state funding for educational assistance programs. Changes to Cal Grant funding may affect your overall aid package. If this situation applies, you should anticipate a revised award letter that takes the new information into account.

Federal &State Grants

Federal Perkins Loans

Perkins Loans are awarded to students with exceptional financial need and carry an annual interest rate of 5%. Interest does not accrue while the borrower is enrolled in school at least half time, during the grace period (the time before the borrower must begin or resume repaying the loan), or during authorized deferments. The borrower is responsible for paying the interest that accrues on the loan during repayment or forbearance (a temporary postponement of payments). Loans are repayable over a period of up to 10 years and have a nine-month initial grace period. Availability is limited. You have the right to cancel your Federal Perkins Loan any time before disbursement and up to 14 days after disbursement.

Federal Direct Loans

Direct Loans are low-interest federal educational loans available to college students who are enrolled at least half time, are pursuing a degree, and meet other basic requirements for federal aid. Subsidized and unsubsidized Direct Loans do not require credit approval and offer a variety of deferment and repayment options. They are financed directly by the U.S. Department of Education, so you do not need to choose a lender. All CCA students borrowing a Direct Loan must complete a Master Promissory Note (MPN) and a loan entrance counseling session prior to the disbursement of loan funds.

Direct Loans can be subsidized or unsubsidized. As of July 1, 2012, subsidized loans are only available to undergraduate students. The federal government pays the interest on subsidized loans while the borrower is enrolled at least half time and during authorized periods of deferment. The interest on unsubsidized loans begins to accrue immediately upon disbursement and is generally capitalized (added to the principal amount borrowed) before the borrower starts repayment. Eligibility for subsidized Direct Loans is based on financial need as demonstrated via the FAFSA. Students who do not demonstrate sufficient need may borrow unsubsidized Direct Loans.

The interest rate on all subsidized Direct Loans disbursed between July 1, 2012, and June 30, 2013, is fixed at 6.8% once the student enters the repayment period. This interest rate is subject to revision based on changes in federal legislation. The interest rate on all unsubsidized Direct Loans disbursed between July 1, 2012, and June 30, 2013, is fixed at 6.8%.

Independent and dependent undergraduate students may borrow combined subsidized and unsubsidized Direct Loan amounts not to exceed an annual total of

$5,500 for first-year students (a maximum of $3,500 may be subsidized)

$6,500 for second-year students (a maximum of $4,500 may be subsidized)

$7,500 for third-, fourth-, and fifth-year students (a maximum of $5,500 may be subsidized)

Although CCA may have determined that you and, if applicable, your parent(s) are eligible to borrow a Perkins Loan, subsidized and/or unsubsidized Direct Loan, or PLUS Loan, you are under no obligation to accept any loan. Declining a loan will not jeopardize other financial aid offered to you, nor will it prevent you or your parent(s) from borrowing later in the term or in the future. An educational loan is a serious financial obligation and must be repaid. Defaulting on any loan may damage your credit rating. Complete information on educational loan repayment is available from the Financial Aid Office.

EducationalLoans

Independent and dependent undergraduate students whose parents are unable to borrow PLUS Loans (see below) may borrow additional unsubsidized Direct Loan amounts not to exceed an annual total of

$4,000 for first- and second-year students

$5,000 for third-, fourth-, and fifth-year students

Eligible graduate students may borrow up to $20,500 annually in unsubsidized Direct Loans. The maximum outstanding total subsidized and unsubsidized Direct Loan debt is

$31,000 for dependent undergraduate students; no more than $23,000 of this aggregate amount may be in the form of subsidized loans.

$57,500 for independent undergraduate students (or dependent undergraduate students whose parents do not qualify for PLUS Loans); no more than $23,000 of this aggregate amount may be in the form of subsidized loans.

$138,500 for graduate or professional-degree students (including loans for undergraduate study); no more than $65,500 of this aggregate amount may be in the form of subsidized loans.

For 2012–13, subsidized and unsubsidized Direct Loans have an initial origination fee of 1% of the principal amount of the loan. This fee will be deducted from each disbursement of each loan. The standard repayment period under this loan program is 10 years.

NEW IN 2012: Beginning with loans disbursed after July 1, 2012, the in-school interest subsidy has been eliminated for graduate and professional students, and repayment incentives and up-front interest rebates have been eliminated for all students. The interest subsidy during the six-month grace period has been eliminated on all Direct Loans made on or before July 1, 2012. The repayment period still begins six months after the last day of enrollment; however, the government will no longer subsidize the interest during this time, and the students are held responsible for the interest.

Federal Parent and Graduate Plus Loans

Parent PLUS Loans are available to the parents or stepparents of dependent undergraduate students. Graduate and professional students are eligible to apply for graduate PLUS Loans on their own behalf. These credit-based loans are not determined by financial need. PLUS Loans are financed directly by the U.S. Department of Education, so you do not need to select a lender.

Parents and graduate students borrowing PLUS Loans must complete a PLUS or graduate PLUS Master Promissory Note (MPN), respectively. Parents of dependent undergraduate students must also complete a Federal Direct PLUS request. MPNs and PLUS requests can be completed online at studentloans.gov.

The PLUS Loan amount indicated on the award letter is a recommended amount for which graduate students or parent(s) of dependent undergraduates may apply. If you/they wish to apply for an amount other than what is recommended, indicate this amount on the award letter and on the PLUS Loan request. The requested amount cannot exceed the cost of attendance, less all other financial aid received.

The interest rate on parent and graduate PLUS Loans disbursed between July 1, 2012, and June 30, 2013, is fixed at 7.9%. There is no annual limit to the amount that can be borrowed through the PLUS Loan program. In general, parents and graduate students may borrow up to the cost of attendance less any other financial aid received. For 2012–13, all PLUS Loans have an initial origination fee of 4% of the principal amount of the loan. This fee will be deducted from each disbursement of the loan.

The standard repayment period under this program is 10 years. Interest begins on the date of the first loan disbursement. Repayment of the principal and interest on a parent PLUS Loan begins within 60 days after the loan is fully disbursed. Parents may request an in-school forbearance from Direct Loan Borrower Services during which no payments, or interest-only payments, are required. Graduate PLUS Loan borrowers attending at least half time will be placed into in-school deferment, during which no payments are required. Please note that interest continues to accrue during periods of deferment and forbearance. You may either pay the interest as it accrues, or you may allow the interest to be capitalized (added to your loan’s principal balance). Capitalization increases the total loan amount that you must repay.

Alternative Loans

If the combination of federal loans and CCA-administered financial aid does not meet a student’s cost of attendance, then “alternative” loan programs are a consideration. These private educational loan programs require the borrower to have a satisfactory credit history and in many cases may require a credit-worthy cosigner.

Students are encouraged to visit cca.edu/admissions/financialaid/altloans for more informa-tion. In general, students can borrow up to the cost of attendance less any other financial aid received. Students are strongly encouraged to exhaust all federal educational grant and loan options prior to borrowing alternative loan funds.

A federal work-study (FWS) or institutional work-study (IWS) award represents an amount that you can earn through on-campus student employment. It is not an amount that you are guaranteed to receive. Students are encouraged to begin their employment search as early in the semester as possible to increase their chances of securing a position. FWS and IWS job listings are posted at CCA’s online job board. FWS funds are awarded based on financial need to eligible students who have applied for financial aid. Any CCA student is eligible to work through the IWS program, even if he or she did not apply for financial aid. Since students with FWS awards have the greatest financial need (and the college’s FWS funding is almost five times larger than its IWS funding), FWS recipients have priority in applying for on-campus student employment.

In general, FWS and IWS allocations are $3,000 for the academic year; most students can reasonably earn that amount by working seven to eight hours per week from September through May. For FWS recipients, the allocation reflects your eligibility (and priority) for a part-time job and authorization to earn up to the amount indicated. You will only receive what you earn, and those earnings cannot be subtracted directly from any balance that you may owe the college.

Your earnings through either FWS or IWS are considered taxable income. However, because FWS is a need-based federal financial aid program, FWS earnings are excluded from your income when you apply for financial aid via the FAFSA.

student

employment

Most financial aid funds are credited directly to your student account and are applied first to institutional charges (e.g., tuition and campus housing) for the current term. Funds are credited no earlier than the first day of the current term. Aid that can be credited directly to your account will be credited when you have:

accepted or rejected your financial aid awards online using WebAdvisor (webadvisor.cca.edu) or returned your paper award letter

provided all documents required for the programs named in your aid package

made satisfactory academic progress

enrolled in the minimum number of required units for the various aid programs

completed a Direct Loan and/or PLUS Loan MPN(s), Direct PLUS Loan request, and loan entrance counseling session

If the disbursement of your aid results in a credit balance, any aid awarded in excess of institutional charges will be paid to you after the start of the term. Checks are mailed approximately one week from the time the credit balance appears on your student account. They will be sent automatically to your billing address on file at the Student Accounts Office. You can update this address using WebAdvisor (webadvisor.cca.edu). We recommend arriving on campus with enough money to cover your living expenses (rent, food, books, supplies, et cetera) for at least your first month.

You have the right to cancel your Direct Loan(s) any time before disbursement and up to 120 days after disbursement. Subsidized and unsubsidized Direct Loan, PLUS Loan, and alternative loan funds are disbursed in the following order to enrolled students whose financial aid files are complete:

1st week of classes: fourth-year and graduate students

2nd week of classes: third-year students

3rd week of classes: first- and second-year students

Budget carefully. You will most likely receive your entire financial aid amount at the beginning of the semester. It is your responsibility to manage your finances to meet your expenses for the entire term.

Tuition Payment, Living Expenses,Financial Aid

Accept or reject your financial aid awards via WebAdvisor (webadvisor.cca.edu) or follow the steps on the back of your award letter, sign it, and return it to the Financial Aid Office.

New student loan borrowers must also complete a Master Promissory Note (MPN) and loan entrance counseling session for loan funds to be disbursed. To receive parent PLUS Loan funds, parents must also complete a PLUS MPN and a Direct PLUS Loan request. To receive graduate PLUS Loan funds, graduate students must also complete a graduate PLUS MPN.

While CCA is processing prospective students’ financial aid applications, it is not uncommon for us to request additional documentation. Please respond promptly to these requests.

Develop a financing plan using your financial aid award letter, the sample billing worksheet, and cost of attendance information. On the award letter we have included an estimated cost of attendance, your Expected Family Contribution (EFC) as determined by the Department of Education, and your financial need. Your actual tuition, fees, and on-campus housing charges are listed on the CCA tuition and fee schedule included in the billing packet sent to you by the Student Accounts Office. These figures are also available at cca.edu/students/fees.

The sample billing worksheet, your financial aid award letter, and the cost of attendance document will assist you in determining what you may owe CCA directly, as well as what indirect costs you should anticipate as part of the cost of attendance (e.g., books, supplies, transportation, and campus housing if applicable) after financial aid is taken into account. The living-expense estimates are based on state averages for housing, food, transportation, et cetera from the California Student Aid Commission’s Student Expenses and Resources Survey (SEARS). Upper-division and graduate students are allotted a higher amount for supplies. You and your family should discuss how you plan to cover your estimated expenses. Contact us if you are interested in seeking additional loan funding to help defray these costs.

If you are a graduate student or a dependent undergraduate student whose parent(s) are eligible for a PLUS loan, the amount indicated on your award letter is a recommended amount for which you or your parent(s) may apply. If the combination of federal loans and CCA admin-istered financial aid does not meet your cost of attendance, then you/they may borrow up to the cost of attendance, less any other financial aid received. If you/they wish to apply for an amount other than what is recommended, indicate this amount on the award letter and on the PLUS Loan request. Before making a decision about any loan, carefully read the information in this award letter guide and at cca.edu/financialaid.

Keep us informed. Your financial aid awards are for the 2012–13 academic year and are based on current information regarding your class level; your enrollment status; federal, state, and institutional funding limitations and other regulations; CCA financial aid policies; and avail-ability of funds. Award amounts are subject to change based on changes in any of these factors.

Your award letter is based on the assumption that you will be enrolled full time (at least 12 units per semester for undergraduates, 15 units for graduate students, and 9 units for students in the Graduate Program in Visual and Critical Studies) in both the fall and spring semesters. Please confirm your anticipated enrollment status on the back of your award letter.

1

2

3

4

5

next steps

CCA provides financial aid and other assistance programs to make its arts education affordable for admitted students. The type and amount of financial aid that students are offered is based on their—and, when applicable, their parents’—financial circumstances and the strength of their applications for admission. CCA is committed to awarding financial aid to each student who demonstrates finan-cial need and, as a general rule, maintaining a consistent level of aid during the student’s enrollment at the college.

This guide is designed to help you understand your financial aid

award letter, with specifics about each financial aid program as well as general information. It will also help you under-stand the next steps: the process for accepting financial aid and the respon-sibilities involved.

Financing a CCA education requires a partnership among you, your parents (for dependent undergraduate students), state and federal government programs, and the college. Families are asked to contrib-ute based on their financial resources, and students may be offered student loans and work-study.

CCA pulls together all federal and state financial aid for which you are eligible and also provides scholarship support, as it can, to cover the difference between your educa-tional costs and what your family is expected to contribute.

Additional loan funding—including federal parent PLUS Loans, federal graduate PLUS Loans, and alternative educational loans—may be available to some students. Contact us or visit cca.edu/financialaid for more information beyond what is covered in this guide.

FINANCIAL AID RESOURCES

U.S. DEPARTMENT OF EDUCATION STUDENT

FINANCIAL ASSISTANCE

For questions about eligibility for federal student aid:studentaid.ed.gov or fafsa.gov800.4.FEDAID

CALIFORNIA STUDENT AID COMMISSION

For questions about California state grant programs:www.csac.ca.gov916.526.7590

U.S. DEPARTMENT OF EDUCATION

DIRECT LOAN PROGRAM

direct.ed.gov

FEDERAL DIRECT LOAN MASTER PROMISSORY

NOTE & ENTRANCE COUNSELING SESSION

studentloans.gov

SELECTIVE SERVICE SYSTEM

sss.gov

SCHOLARSHIP SEARCHES

CCA GUIDE TO ADDITIONAL AID RESOURCES

cca.edu/admissions/financialaid/otheraid

FINAID

finaid.org

FASTWEB

fastweb.com

COLLEGE ANSWER

collegeanswer.com

BROKE SCHOLAR

brokescholar.com

CCA ADMINISTRATIVE OFFICES

FINANCIAL AID

tel: 415.703.9528fax: [email protected]

ENROLLMENT SERVICES (ADMISSIONS)


STUDENT ACCOUNTS (BILLING)


STUDENT RECORDS

(REGISTRATION/ADDRESS CHANGES)


1111 Eighth Street, San Francisco CA 94107-22475212 Broadway, Oakland CA 94618-1426tel: 800.447.1ARTcca.edu

CCA administrative offices are open Monday through Friday, 8 a.m.–4:30 p.m.

Financial Aid Resources,CCA Administrative Offices, Scholarship Searches

CCA is grateful for the generous support of private donors, state and federal financial aid programs, and past aid recipients who have repaid their loans. Regulations established by particular donating individuals, organizations, and agencies ensure that each type of financial aid is offered only to students who need and will make proper use of the funds. By accepting such support, both the college and the recipient incur responsibilities. All students should keep this award letter guide for ready reference. Visit cca.edu/financialaid for additional information about the various programs available at CCA; applying for Direct Loans, PLUS Loans, and alternative loans; maintaining your eligibility for financial aid; or petitioning for an increase in your estimated cost of attendance or a reevaluation of your award.

PRINTED ON 50 PERCENT RECYCLED CONTENTDESIGN: CCA SPUTNIK / LIZ TRAN

Documents

CCA Financial Aid Award Guide