FINANCIAL AID

Many students and their families seek financial help in paying for a college education. Design Institute of San Diego participates in all applicable federal and state financial aid programs and will provide assistance to prospective students in determining eligibility for loans and grants. Financial aid is available for those who qualify. Complete details regarding financial aid are available through the Financial Aid Office and prospective students are encouraged to meet with the Financial Aid Director at any time. A free Preliminary Financial Aid Profile will be done for anyone who has applied to the college. This profile is an estimate of financial aid eligibility for grants and loans.

The role of the Financial Aid Office is to assist financial aid applicants in any way possible. Prospective students may apply for financial aid before being admitted to the college, but must be accepted for admission before financial aid can be awarded. An application for financial aid in no way affects a prospective student's chances for admission. It is advisable to begin the application process early in order to meet filing requirements and deadlines.

Who is eligible?

In order to receive financial assistance, a student must meet the following criteria:

• The student must be enrolled or accepted into the program with the intent to obtain a Bachelor of Fine Arts in Interior Design degree, full-time (12 or more units) or part-time (6-11 units).

• The student must be a U.S. citizen or an eligible non-citizen. International students (I-20 Visa holders) are not eligible for financial aid at Design Institute.

• The student must maintain satisfactory progress standards (Please refer to Satisfactory Academic Progress policy in the catalog.)

• The student must not be in default on any loans, nor owe a refund to any other institution for funds received under any Federal grant programs. Further, parents or legal guardians of dependent students must not be in default on the repayment of the Plus Loan.

• The student must certify that he/she will not engage in the unlawful manufacture, distribution, dispensing or use of a controlled substance.

What kind of Financial Aid is available?

Financial aid comes from the federal government, State of California, and private scholarships. There are two types of aid: gift aid and self-help aid. Students may be awarded a combination of these or a "package". Gift aid (grants, scholarships) does not have to be earned or repaid. Self-help aid must be repaid (loans) or earned (work-study). The following is a summary of financial aid programs in which Design Institute participates:

GRANTS

Grants are based upon need and do not require repayment. The following grants are available at Design Institute.

Federal Pell Grants: These are based on demonstrated need. Awards range from $555 - $5550 per year. Students with prior baccalaureate degrees are ineligible.

Federal Supplemental Opportunity Grants (FSEOG): These are based on exceptional need. Average awards range from $100 - $200 per year. Students with prior baccalaureate degrees are ineligible.

Cal Grant A Entitlement Award: Every graduating high school senior who has at least a 3.0 GPA, meets the Cal Grant eligibility requirements and applies by March 2 within one year of graduation is guaranteed a Cal Grant A Entitlement award.

Cal Grant A Competitive: A limited number of awards are available to students who have had a break in enrollment from high school. Selection is based on a composite score that takes into consideration family income, parents' educational level, GPA, high school background and other factors, such as whether the student comes from a single-parent household or is a former foster youth.

Cal Grant B: This is an award for students from disadvantaged or low-income families who otherwise would not be able to pursue a higher education. Every graduating high school senior who has at least a 2.0 GPA, meets the Cal Grant requirements, and applies by March second, within one year of graduation, is guaranteed a Cal Grant B Entitlement award.

Cal Grant B Competitive: A limited number of awards are available to students who have had a break in enrollment from high school. Selection is based on a composite score that takes into consideration family income, parents' educational level, GPA, high school background and other factors, such as whether the student comes from a single-parent household or is a former foster youth.

Federal Work Study (FWS): This is a program funded by the federal government and Design Institute to provide part-time employment for students demonstrating financial need. The salary range is varied but is always above minimum wage. Most students work between 4 and 20 hours per week while classes are in session. Once the amount awarded in the financial aid package is earned, the employment ends.

LOANS

Loans provide students with the opportunity to defer a portion of their educational costs. Loans must be repaid.

If a student obtains a loan to pay for their educational program, the student will be responsible to repay the full amount of the loan plus interest, less the amount of any refund, and that, if the student has received federal student financial aid funds, the student is entitled to a refund of the moneys not paid from federal student financial aid program funds.

Federal Direct Subsidized Loan: This provides need-based loan funding for eligible students determined by federal regulations. No interest is charged while the student is in school at least half-time, during the grace period or in a deferment period. Repayment begins six months after graduation or if the student ceases to be enrolled in at least a half-time status. Loan limits range from $3500-$5500 per year.

Federal Direct Unsubsidized Loan: This is not a need based loan. Interest is charged during all periods even when the student is in school. Regular repayment of principal and interest begins six months after graduation or if the student ceases to be enrolled in at least half time status. Loan limits range from $2000-$7000 per year.

Federal Direct Plus Loan: Plus loans are for parents who need to borrow for their dependent child's under-graduate education and for graduate/professional students. Parents with a good credit history may qualify for a Plus Loan, which allows them to borrow up to the total cost of education minus any other aid you receive. Interest is charged during all periods. Repayment begins 60 days after the loan is disbursed with the option of deferment until the student graduates or ceases to be enrolled in at least a half-time status.

Federal Direct Consolidation: This is designed to assist in repayment when multiple loans have been borrowed. The Direct Consolidation program consolidates multiple loans into a single loan to simplify repayment into a single monthly payment with extended repayment terms.

SCHOLARSHIPS

Scholarships, like grants, do not need to be paid back. They are awarded to students who meet a combination of eligibility requirements, such as financial need, academic achievement, or other criteria. Design Institute does not offer its own scholarships. Design Institute posts information about relevant scholarships. Students are encouraged to research scholarship information on the internet.

VETERANS BENEFITS

Veterans Benefits are available to students who currently or previously served in the armed forces based on individual eligibility. The amount received will be determined by the Veterans Administration. Design Institute also participates in the Yellow Ribbon Program.

STUDENT LOAN CODE OF CONDUCT

Design Institute of San Diego is a member of The National Association of Student Financial aid Administrators (NASFAA). Design Institute has adopted the use of the NASFAA’s Statement of Ethical Principles and Code of Conduct for Institutional Financial Aid Professionals. You can receive a copy of this policy from the financial aid office or by emailing jgloria@disd.edu.