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Baltimore Campus Financial Aid

FINANCIAL AID
At Cortiva Institute, we understand that your education is an investment in your future. Affordability should never be an issue when making the decision to get an education!

We are proud to offer financial aid for those who qualify. We offer Title IV Federal Student Aid, including:

Pell Grants, Federal Direct Loans, Federal Direct PLUS Loans (for parents), and Federal SEOG, and Federal Work Study (FWS)

In-House Loan Program
Cortiva Institute offers an In-House Loan Program (IHL) to students who qualify.

In-School Payment Plans
Students can also pay cash on a weekly, monthly, or quarterly basis interest free while they are attending school.

FINANCIAL AID ELIGIBILITY
Generally, to qualify for federal, or state financial aid, you must meet the following criteria:

  • Be a U. S. Citizen or eligible non-citizen
  • Have a valid Social Security Number
  • Be registered with Selective Services if male.
    • Male U. S. Citizens or resident aliens living in the U. S. born after 1960 are required to register between the ages of 18 and 25
  • Show you are qualified to obtain a post-secondary education by
    • Having a high school diploma or recognized equivalent such as a General Education Development Certificate (GED)
    • Completing a high school education in a homeschooled setting approved by the state in which you were home-schooled.

Net Price Calculators are available here

1. Step One – Get a FSA ID
The FSA ID is a username and password combination that give you access to Federal Student Aid’s on-line system.  An FSA ID can also be used to electronically sign your FAFSA.  If you do not have an FSA ID when you complete your FAFSA you will be prompted to apply for one.  In order to get ahead on this process, you may create your FSA ID now. If you have not created an FSA ID, The Financial Aid team at the campus will assist you with this step during your initial Financial Aid appointment.

2. Step Two – Complete the FAFSA
Complete the Free Application for Federal Student Aid (FAFSA) on-line.  Students currently enrolling and beginning classes prior to July 1, 2018, should complete the 2017-2018 FAFSA.  The Financial Aid team at the campus will assist you with this step during your initial Financial Aid appointment.

3. Step Three – Submit any additional documentation that might be required
Once the Financial aid team receives the result of your FAFSA, they may contact you if additional documentation is required.  Please you make sure to submit all documentation required.  If the documentation is not received, we will be unable to process your aid for disbursement.

Pell Grant
A Pell Grant is federal funding that does not have to be repaid.

Availability:
Students in our programs who have not yet received a bachelor’s degree.

Eligibility Requirements:

  • Complete the FAFSA, as well as any additional financial aid requirements
  • Be a U. S. Citizen
  • Not have defaulted on a prior student loan or owe a refund to any previous federal aid program

Annual Amounts:

  • Will depend on the length of your program.
  • Full academic year amounts are $588-5,920 for the 2017-2018 academic year.

 

Federal Supplemental Educational Opportunity Grant (FSEOG)
Federal funding that does not need to be repaid.

Availability:

  • Available to Pell Grant eligible students, based on need, must complete all financial aid requirements
  • Must not have defaulted on a prior student loan or owe a refund to any previous federal aid program

Annual Amounts:
At Cortiva, students who meet the criteria will receive between $100 to $500

 

Federal Direct Subsided Loan
This is a type of federal funding that is a loan, therefore it must be repaid.  This loan offers an in-school interest subsidy provide by the federal government.  This subsidy is available during the period of time this student is enrolled at Cortiva.

Eligibility:

  • Complete FAFSA
  • Demonstrate Financial Need
  • Must complete the Direct Loan Master Promissory Note and Entrance Interview.
  • Must not have defaulted on a prior student loan or owe a refund to any previous federal aid program.

Interest rate and fees:

  • Fixed rate of 4.45 for loans disbursed after July 1, 2017 and before July 1, 2018.
  • Loan fee of 1.066% for loans disbursed after October 1, 2017 and before October 1, 2018.

Annual Amounts:

  • This will vary depending on your program of study while attending Cortiva.

 

Federal Direct Unsubsidized Loan
This is a type of federal funding that is a loan, therefore it must be repaid.

Eligibility:

  • Complete FAFSA
  • Financial Need is not a requirement
  • Must complete the Direct Loan Master Promissory Note and Entrance Interview.
  • Must not have defaulted on a prior student loan or owe a refund to any previous federal aid program.

Interest rate and fees:

  • Fixed rate of 4.45% for loans disbursed after July 1, 2017 and before July 1, 2018.
  • Loan fee of 1.066% for loans disbursed after October 1, 2017 and before October 1, 2018.

Annual Amounts:

  • This will vary depending on your program of study while attending Cortiva.

 

Federal Parent Loan of Undergraduate Students (PLUS) Loan
This is a loan and therefore must be repaid.  The Parent and not the student is the borrower in this loan program.

Eligibility

  • Student must complete the FAFSA
  • Student must be Dependent as determined by the FAFSA criteria
  • This loan requires the parent to be credit approved
  • Must complete Master Promissory Note and Entrance Counseling

Interest rates and Fees:

  • Fixed interest rate of 7.0% for loans disbursed after July 1, 2017 and before July 1, 2018.
  • Loan Fees of 4.264% for loans first disbursed after October 1, 2017 and before October 1, 2018.

Annual Amount:

  • Maximum amount is the full cost of education minus any other financial aid the student receives, there is no minimum amount.

 

Federal Work Study program (FWS)
The Federal Work-Study program is a need-based program that provides students with part-time employment opportunities at the campus.

FWS Students can work up to 20 hours a week and the rate of pay varies based on the position.

  • AmeriCorps
  • Vermont state grant (Vermont Residents)
  • Veterans Benefits
  • Alaska Student loans (Alaska Residents)

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