Financial Aid Frequently Asked Questions

Financial Aid Questions

What type of aid might I receive?
Undergraduate is considered for:
  • Federal/State Grants - Pell Grant, SEOG, MA Grant
  • Federal Loans (guaranteed loans, not based upon credit)
      • FR: 5500 Dep; 9500 Ind
      • SO: 6500 Dep: 10500 Ind
      • JR/SR: 7500 Dep: 12500 Ind
  • All based upon financial eligibility determined by FAFSA
Graduate is considered for:
  • Federal Loans (guaranteed loans, not based upon credit)
      • 20,500
CPS Scholarships
  • You will be able to start applying for 2016-2017 scholarships by early May.
  • An application will be available online. Scholarships are limited and will be awarded based on established criteria.
When should I apply for financial aid?
You are encouraged to apply for financial assistance at the beginning of your academic year regardless of your current plans to cover the costs of your program. Having a finalized financial aid package can make accessing the aid much easier should your plans change later in the year. Please note that once you are awarded aid, you have the option to decline or cancel a portion of your award.
How much aid will I receive?
You can only receive financial aid up to the Cost of Attendance (COA). For example, if you are a graduate student and your COA is $17,000, you will only be awarded $17,000 in Federal loans. However, based upon your year in school, you may not receive financial aid up to COA.
What makes me eligible for financial aid?
  • US Citizen/Permanent Resident, not in default on a federal loan
  • Making Financial Aid SAP
  • Enrolled in at least 6 q.h. per quarter (can be split 3 q.h. per session)
  • Matriculated into a degree program- certificate programs are not eligible (except for Paramedic Technology)
  • Special Student status makes a student ineligible for financial aid, there are some supplemental loan options available online
  • If you are in a certificate program, you can apply for private student loans
  • A program must either be online, or 50% of courses must be taken at one of our approved sites in order to be financial aid eligible
How should I apply for financial aid if I have not yet done so?
Please complete the Free Application for Federal Student Aid (FAFSA) for the appropriate academic year you wish to enroll.
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