We firmly believe that access to education beyond high school is the right of every individual. Lack of financial resources alone should not be a barrier to this preparation. Therefore, we are an eligible institution participating in federal and state financial aid programs. Financial aid is available to those who qualify.
The purpose of financial aid is to assist those students who, without such aid, would be unable to attend our school. The primary responsibility for meeting the costs of education rests with individual students and their families. Financial aid funds are available to supplement whatever funds students and their families can reasonably provide. Early application is encouraged to ensure availability of funds. Students should complete the financial aid applications upon enrollment, and they will be notified of funding by a Crimson official.
Each student is initially processed for financial aid based on the standard enrollment status as defined by the school for each particular program. Eligibility and disbursements of financial aid may change based on enrollment status each block or term. Because of federal financial aid regulations (excluding Pell), students whose enrollment status is less than half-time will have zero financial aid eligibility for that block or term. Due to these eligibility requirements, it is extremely important that students work with their program directors to ensure full-time enrollment status each block or term. A change from full-time enrollment status could cause a loss of financial aid eligibility and create a cash pay situation for some students. Please consult a financial aid administrator with any questions regarding enrollment status and financial aid eligibility. |
| TUITION, CHARGES, MATERIALS, TOOL KIT |
A complete listing of tuition and charges (accident insurance, uniforms, etc.) is contained in a catalog addendum. Crimson reserves the right to adjust tuition rates at the beginning of any academic term, but such increases will be announced at least 60 days in advance.
Tuition for Aviation Programs is charged to each student's accounts each academic year. Students should review the enrollment agreement or contact the Business Office for information about the charges for each program. Tools are charged to each student's account in the term in which the tools are issued.
Books will be charged to a student's account when issued. The amount of the charges will be based on the current book prices. Used books are occasionally available for a discounted price. Charges to a student's account (tuition, tools, and/or books) must be paid by the end of each term for technical programs, either by financial aid, agency payments, cash payments, or through the Crimson's loan program. The toolkit, textbooks, and supplies may be purchased through Crimson or from an outside supplier, but must be the toolkit, textbooks, and supplies required by Crimson. Students who have tools which meet the requirement for suitability will receive credit for the tool kit price (see appropriate Program Director). A complete list may be obtained from the Program Director.
The amount of aid disbursed under FSEOG is limited to an annual allocation made to the school by the Department of Education. In determining the amount of FSEOG a student receives, the college first funds students with the greatest need (lowest Expected Family Contribution (EFC)). |
| STUDENT UNIFORMS |
Student uniforms are mandatory. Students that entered Crimson Technical College Prior to October 29, 2007 are on the rental uniform program and those uniforms need to be returned to the school in the event that a student withdraws or graduates from Crimson. In the event that a rental uniform piece is lost or damaged beyond normal wear and tear there may be a thirty-five dollar ($35) charge per piece for items not returned or returned damaged.
Students who entered Crimson Technical College on October 29, 2007 or later are on the purchase uniform program and do not need to turn in their uniforms if they withdraw or graduate from Crimson. |
| Federal Pell Grant Program: Federal Pell Grant (FPELL) |
| This federal student grant program is designed to provide assistance to any eligible undergraduate student pursuing post-high school education. Grant amounts may vary from year to year depending upon federal regulations. This program is the foundation for most financial awards. |
| Students with delinquent cash or Crimson loan payments will not be allowed to attend classes for the next block or future blocks until the account is brought current. Questions or concerns regarding an account or Crimson loan should be directed to Business Office personnel. |
| Unsubsidized Stafford Loan |
| The interest rate on Unsubsidized loans is fixed . Currently at 6.8 percent for undergraduate students. Unsubsidized loans interest starts accruing from the time the funds are distributed. Student can chose to either pay it while they are in school or let it accrue and be added to the principal balance of the loan |
| Federal Supplemental Educational Opportunity Grant (FSEOG) |
| This federal student grant program is intended to assist undergraduate students who have been determined to have financial need. |
Federal College Work-Study Program
We participate in the Federal College Work-Study Program with award amounts based on demonstrated need. This program is designed to provide part-time employment to enable students to earn money to fund their education. Students employed under the Work-Study Program are generally limited to 20 hours per week during the regular academic period. Students may be authorized to work more hours during vacation periods. Wages vary, depending on the type of work and skill experience required. |
Federal Family Education Loan Program (FFEL)
The FFEL program offers low interest loans with generous repayment terms to assist students and /or parents in meeting the costs of education. The federal government guarantees loans made under the FFEL program but student will have to choose lender to fund the loan. You have the right to work with lender of your choice and although some colleges do have a preferred lender list, you are not limited to those options because, the federal government backs our loan. |
William D. Ford Federal Direct Student Loans
These loans are basically the same as the FFEL loans described above. The difference is that the US Department of Education is the lender and will disburse the loan proceeds through your school. You and /or your parents will send all your loan repayments to the Department of Education instead of to a bank or lender. |
PLUS Loans (Parent Loan for Undergraduate student
PLUS loans are loans parents can obtain to help pay the cost of education
of their dependent undergraduate children. A parent can apply for a PLUS loan that does not have any adverse credit history. The maximum PLUS loan amount a parent can borrow is equal to the cost of attendance, as determined by the school, less any other financial aid the student may be receiving.
PLUS loans are unsubsidized; the borrower is responsible for interest during the life of the loan. There is no grace period on PLUS loans. PLUS loans have a fixed rate of 8.5 percent.
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Subsidized Stafford Loan
The interest rate on Stafford Loans is fixed, currently at 5.6 percent for subsidized loans for undergraduate students. The government pays the interest on Subsidized loans while a borrower is enrolled in school at least half time and during certain other periods. |
Federal Perkins Loan
This is a low interest rate, long-term loan program available to students who have demonstrated need for such funds. Perkins Loans currently carry a 5% interest rate. The maximum a student may be eligible to borrow is $4,000 per award year. Repayment on this loan is not required until nine months after the student completes his/her education or falls below half-time status.
Specific information regarding the loan limits and interest rate may be obtained from the financial aid office. |
