Future Students & Parents
Grants, Loans, and More
Grants are funds that do not have to be repaid. The programs described below are available to students with financial need and will be incorporated into your financial aid package by CCAD's Financial Aid Office.
Federal Pell Grant
Students must be enrolled, pursuing a degree, and demonstrate exceptional financial need to qualify for a Pell Grant. Students apply by completing the Free Application for Federal Student Aid (FAFSA).
Federal Supplemental Educational Opportunity Grant
Requirements for this grant are similar to those of for the Pell Grant. FSEOG awards are determined by CCAD's Financial Aid Office after review of each student's FAFSA.
Federal Academic Competitiveness Grant
Academic Competitiveness Grants support the first two years of college study for students who have completed a “rigorous secondary school program of study,” as determined by the U.S. Department of Education. For details, please see http://studentaid.ed.gov
Many states provide need-based educational grants to their residents. Eligibility is typically determined by completing the FAFSA according to deadlines established by each state. For example, the Ohio College Opportunity Grant Program (OCOG) provides need-based tuition assistance to Ohio residents in undergraduate programs at eligible institutions. Students apply by completing the FAFSA; the application deadline is October 1 of each year.
Loans must repaid after graduation. Commonly used loan programs are discussed below.
Federal Perkins Loan
Federal Perkins Loans are low-interest, long-term loans made through the CCAD Financial Aid Office to undergraduate students with financial need. Perkins Loans are guaranteed by the federal government and have an initial nine-month grace period before repayment begins. The grace period starts when your enrollment at CCAD drops below half-time or you leave the college. The Perkins Loan Program offers unique deferment and cancellation benefits based on borrower situations and employment.
Federal Direct Student Loan
The Federal Family Education Loan (FFEL) program is administered by the U.S. Department of Education and provides educational loans through private lenders. It encompasses Direct Loans (for students) and PLUS loans for parents and graduate students (for more about PLUS loans, see below).
Loans may be subsidized (need based) or unsubsidized (not need based). The federal government pays the interest on subsidized loans while the student is enrolled at least half-time and during the six-month grace period after the student graduates or ceases to be enrolled at least half-time. Unsubsidized loan borrowers are responsible for interest that accrues from the time the loan funds disburse.
The CCAD Financial Aid Office recommends an amount to be borrowed based on a student's need as demonstrated in the FAFSA.
Federal Direct Parent Loan for Undergraduate Students (PLUS Loan)
Parents with an eligible credit history can take out a PLUS Loan to help pay undergraduate education expenses for their dependent children who are enrolled at least half time at CCAD. Parents must submit a PLUS Loan application, available from CCAD's Financial Aid Office. After CCAD completes its portion of the application, it is sent to the Department of Education for evaluation.
Graduate students are also eligible to borrow under the PLUS Loan Program. The terms and conditions applicable to Parent PLUS Loans also apply to Graduate/Professional PLUS loans.
Alternative Student Loan
Private lenders can provide so-called alternative loans to fill gaps between students’ financial aid packages and their total educational costs. These loans can be used for more than just tuition, including expenses such as room and board, travel, study abroad, computers, and art supplies. Applicants must have an established, positive credit score. A student with no credit will usually need a cosigner.
On-campus employment through the Federal College Work-Study Program is part of many CCAD students’ financial aid packages. Students may work up to 15 hours/week during the school year and up to 40 hours/week during summer and holiday breaks. The CCAD Financial Aid Office will let you know if you qualify.
CCAD is approved by the State Approving Agency and the Veterans Administration for educational benefits. Individuals qualifying for veterans’ benefits must submit a certificate of eligibility or letter of authorization from the Veterans Administration at the time of, or prior to, registration. Students should first be accepted to the college before applying for benefits at the Veterans Administration office.