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 and have a valid Social Security number. 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 this catalog.)
The student, if a male and between the ages of 18 and 25, must be registered with Selective Service
Students must sign certifying statements on the Free Application for Federal Student Aid (FAFSA) stating that: The student is not in default on any loans, nor does the student owe a refund on a federal grant, and that the federal student aid will only be used for education purposes.
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 are based upon need and do not require repayment. The following grants are available at Design Institute.
Federal Pell Grants: These are awarded to students with financial need who have not received their first Bachelor’s degree. The amount of Federal Pell Grant funds received over a lifetime is limited by federal law to be the equivalent of six years. Awards range from $602 - $5730 per year.
Cal Grant A Entitlement Award: California graduating high school seniors who have 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 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 B Entitlement Award: This is an award for students from disadvantaged or low-income families who otherwise would not be able to pursue a higher education. California graduating high school seniors who have 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.
Please be advised that any Cal Grant award offer is tentative and subject to the final approval of the State Budget Act.
Federal Work Study (FWS): his 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 provide students with the opportunity to defer a portion of their education costs. Loans must be repaid. Student Borrowers of federal student loans will be required to undergo entrance and exit counseling before receiving a loan and before graduation. This loan counseling is often provided through interactive web sites in addition to an extensive exit interview workshop that is held in a small group setting for graduating students that covers repayment options and strategies.
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.
Interest rates change annually. To obtain current rates go to www.studentloans.gov.
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. The interest rate is a weighted average of all your loans.
Private Loans: Private student loans help bridge the gap between the actual cost of your education and the limited amount the government allows you to borrow. These loans are made privately through banks and other financial institutions. Eligibility for private student loans is subject to a credit check and often requires a co-signer. The repayment of private loans is based on individual lender terms.
YELLOW RIBBON PROGRAM / POST 9/11 GI BILL
Yellow Ribbon Program: The Yellow Ribbon Program is a voluntary participatory program where Design Institute contracts with the Department of Veterans Affairs to provide matching funds for those students who have veteran benefit eligibility under the Yellow Ribbon Program. Funds matched enable the qualified student to attend Design Institute of San Diego with no out-of-pocket tuition charges.
Post 9/11 GI Bill & 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. For personalized information regarding how veterans benefits might be applied to tuition at Design Institute of San Diego contact Jackie Gloria, Director of Financial Aid at email@example.com.
For Design Institute of San Diego sponsored scholarships and grants visit our Scholarships page.
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 firstname.lastname@example.org.