Financial Aid and Scholarship Options
Just like any other college, Continental Academie has Federal Financial aid available to those who qualify. All students who would like to apply must fill out the Free Application for Federal Student Aid, more commonly known as the FAFSA. The FAFSA tells you what you are eligible for in Pell grants and Stafford loans.
What are Pell Grants?
Pell Grants are FREE money (to those who qualify) that the Department of Education gives you for being enrolled in an eligible post secondary program . For the 2016-2017 school year, the Pell Grant is up to $5,815.00. Not everyone is eligible for Pell Grants, so it’s important to complete your FAFSA as soon as possible, then give your Financial Aid Department a call to see what you qualify for.
What are Stafford loans?
Federal Stafford loans are just that: loans. It is money that is borrowed from the Department of Education to help pay for the cost of tuition that will be in the student’s name. There is a six month grace period after the student graduates where they will not be responsible for payments. There are two different kinds of Stafford loans, subsidized and unsubsidized Stafford loans.
- Subsidized – Subsidized Stafford loans are loans that are interest free while you are attending school. The minute you graduate however, the interest will begin to accrue.
- Unsubsidized – Unsubsidized Stafford loans are loans that will begin to accrue interest as soon as your school receives a disbursement. The interest on this loan is something called “compounding” ,which means that the interest is added on to your loan total, then the next payment cycle, your interest will be on your loan and any interest that was added on.
Click here to find out more about Stafford Loans Terms and Conditions
What if my Pell Grant and Stafford loans don’t pay off my tuition?
For any student that might have a balance even after Federal aid, there are a few options for assistance:
- Parent PLUS loan – The parent PLUS loan is a credit based loan taken out through the Department of Education. However, this loan will be taken out in a parent’s name instead of the students. To see if you qualify, please visit studentloans.gov and see if you are approved. If you are denied for any reason, your child will be eligible for an additional $4,000 in Unsubsidized Stafford loans automatically.
- In-House Payment Plan – The financial aid director will be able to tell you an estimation of Financial aid you will receive while attending Continental. If you are still expected to have a balance, they will be able to set you up with an in-house payment plan for difference. This payment plan breaks up your balance into monthly payments while you are in school. The in-house payment plan is designed to have your balance paid prior to graduating from the program.
Still don’t know where to begin?
Contact us! Ashley, our Director of Financial Aid is more than happy to sit down with you and go over each aspect of Financial Aid with you. She can be reached by emailing email@example.com or by phone at 603-889-1614 xt 5000
The 95 Scholarship ($500) – Here at Continental, our #1 goal is for you to succeed. We have designed our “95” Scholarship to reward students who excel in our program. Everyone who attends our program is eligible for the scholarship, however it’s up to you whether you earn it or not. The criteria for the 95 Scholarship is:
- 95% Attendance Rate
- 95% Written Grade Average
- 95% Practical Average
Are you starting to see a pattern? This scholarship is rewarded after the student reaches 1,275 hours, and is at or above 95% for all of the above at that time.
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