CTU participates in a number of federally funded financial aid programs, administered in accordance with prevailing federal and state laws and the school's institutional policies. Students must meet the eligibility requirements of these programs in order to participate. Students are responsible for providing all requested documentation in a timely manner; failure to do so may jeopardize financial aid eligibility. In order to remain eligible for federal financial aid, students must maintain satisfactory academic progress as defined in the CTU catalog.
Financial aid must be approved and all necessary documentation completed before the aid can be applied toward tuition and fees.
Eligibility for federal financial aid is based on a number of factors; but regardless of your current income level or financial need, you may still qualify for federal financial aid programs that can help offset the cost of your education.
Federal Pell Grant
Description: Grants are free money, that is, they generally do not need to be paid back. The Pell grant program is designed to assist financially needy undergraduate students who desire to continue their education beyond high school by providing a foundation of financial aid to help defray the cost of postsecondary education. Every student is entitled to apply for a Pell Grant by completing a FAFSA. Eligibility is determined by a standard federal formula which includes family size, income and resources to determine financial need.
How much can I get?
The actual amount of the award is based upon the cost of attendance, enrollment status, and the amount of money appropriated by Congress to fund the program.
Federal Supplemental Educational Opportunity Grant (FSEOG)
Description: The FSEOG is a grant program for undergraduate students with exceptional financial need. Priority is given to students with Federal Pell Grant eligibility. The federal government allocates FSEOG funds to participating schools. There is a limited pool of funds available and the school will determine the awarding criteria based on federal guidelines. Often, due to limited funding, FSEOG award resources are exhausted early in the award year.
How much can I get?
Amounts vary each award year based on the funding levels allocated to the school. For those who qualify, awards may vary based on financial need and the policies of the financial aid office.
Federal Direct Loans
Description: The U.S. Department of Education’s major form of self-help aid includes loans to students and parents through the William D. Ford Federal Direct Loan (Direct Loans) Program. Direct Loans include Federal Stafford, Federal Parent PLUS, Federal Grad PLUS, and Federal Consolidation Loans and are available through the U.S. government.
Federal Direct Stafford
Federal Direct Stafford Loans are low-interest loans available for eligible students to help cover the cost of higher education at a four-year college or university, community college, or trade, career, or technical school. Eligible students borrow directly from the U.S. Department of Education (the Department) at participating schools. Federal Direct Stafford Loans include the following two types of loans:
- A Subsidized loan is need-based and the government pays (subsidizes) the interest while the student is in school at least half-time.
- An Unsubsidized Loan is not based on need. Unlike a subsidized loan, the student is responsible for paying the interest that accrues from the time the loan is disbursed until it is paid in full. Students may choose to pay the interest while in school or allow it to accrue and be capitalized (that is, added to the principal amount of the loan). Capitalizing the interest will increase the amount to repay.
These loans do not require a credit check and are available to pay for direct costs (tuition and fees, books and supplies) and indirect educational-related expenses (room, board, transportation and personal expenses).
Federal Direct Stafford Loans: How much can I borrow?
Whether Subsidized or Unsubsidized, eligibility is determined based on dependency status, financial need, cost of attendance and the number of terms/payment periods attended. Repayment obligations begin six months after the student graduates, withdraws, or falls below a half-time enrollment status.
Loan limits depend on the student's grade level and loan type (Subsidized or Unsubsidized).
Beginning with loans first disbursed after June 30th, 2012, graduate students are only eligible for Unsubsidized loans.
Federal Direct PLUS (Parent and Graduate) Loans
The William D. Ford Federal Direct Parent PLUS Loan is available to parents of dependent, undergraduate students. Either or both parents may borrow through this program. The Federal Direct Parent PLUS Loan is not based on need, but when combined with other resources cannot exceed the student's cost of attendance. A credit check on the parent borrower is required. Repayment begins within 60 days of final disbursement of the loan. However, parents may request deferment of payments while the student is attending at least half time.
The William D. Ford Federal Direct Graduate PLUS Loan is available to students seeking Graduate and/or Professional degrees. The Federal Direct Graduate PLUS Loan is not based on need, but when combined with other resources cannot exceed the student’s cost of attendance. A credit check on the student borrower is required and the student must complete the FAFSA. Repayment begins within 60 days of final disbursement of the loan. However, students may request deferment of payments while attending at least half time.
How does the borrower apply for a PLUS loan?
Parents of dependent students (Parent PLUS) and Graduate students (Graduate PLUS) must complete a Direct PLUS Loan application and promissory note, contained in a single form available from the financial aid office.
How much can I borrow?
The yearly limit on a PLUS Loan (Parent and Graduate) is equal to the cost of attendance minus any other financial aid received. For example: If the cost of attendance is $20,000 and the student receives $8,000 in other financial aid, the PLUS loan may not exceed $12,000.
Federal Work Study FWS
Description: FWS is a financial aid program designed to assist students in meeting some of the costs of their education by working part-time while attending school. Positions may be on-campus, off-campus, or community service related. A candidate must demonstrate financial need (as determined by the Department of Education) to be eligible for a FWS award. The number of positions available may be limited depending upon the school’s annual funding allocation from the federal government.
How much can I earn?
FWS students are paid an hourly wage. Wages for the program must equal at least the current federal minimum wage, but may be higher, depending on the type of work performed and the skills required. The maximum amount a student may earn in an award year cannot exceed the total FWS award. When assigning work hours, the employer or student finance representative will consider the award amount, class schedule, and satisfactory academic progress. For a listing of available positions please contact the Financial Aid Office.