Financial aid may consist of funding from one or several sources, including federal, state and private agencies. Most financial aid recipients receive a combination “package” comprised of more than one type of assistance.
Each of our campuses has a financial aid representative to assist you with the application process. If you have any questions or would like to schedule an appointment please contact us.
Important Links and Documents
The Pell Grant is the largest federal grant program offered that is designed to assist students from low-income households. A Federal Pell Grant, unlike a loan, does not have to be repaid, except under certain circumstances. To qualify for a Pell Grant, a student must demonstrate financial need through the Free Application for Federal Student Financial Aid (FAFSA®) form.
This scholarship authorizes a Pell-eligible student whose parent or guardian died in the line of duty while performing as a public safety officer to be eligible to receive a maximum Federal Pell Grant for the award year for which the determination of eligibility is made. To qualify, a student must be Pell-eligible and have a Pell-eligible EFC, and be less than 24 years of age or enrolled at an institution of higher education at the time of his or her parent’s or guardian’s death. In subsequent award years, the student continues to be eligible for the scholarship as long as the student has a Pell-eligible EFC and continues to be an eligible student.
The Federal Iraq and Afghanistan Service Grant is offered to students who are not eligible for a Federal Pell Grant on the basis of their Expected Family Contribution as calculated from FAFSA data, but meet the remaining Federal Pell Grant eligibility requirements. In order to qualify, students must have had a parent or guardian in the U.S. armed forces that died as a result of military service performed in Iraq or Afghanistan after the events of 9/11. The student must have been under 24 years old or enrolled in college at least part-time at the time of the parent or guardian’s death.
Federal Supplemental Educational Opportunity Grants are available to a limited number of students with exceptional financial need. Grants are based on funds available and do not have to be repaid. Need is determined by the financial resources of the student’s family and the cost of attendance.
Under the Federal Direct Loan (FDL) program the school certifies eligibility for each loan, and sends the loan details to the U.S. Department of Education. Loan proceeds are disbursed to the school electronically and then posted to the student’s account. Students must repay the loan with interest to the servicer assigned by the U.S. Department of Education after the loan is disbursed. Eligible students will receive estimated student loan amounts based on FAFSA submission and the standard need-analysis formula. The estimate will include student loan eligibility for the amount necessary to cover direct institutional costs. Students interested in borrowing in excess of direct costs may request additional funds by contacting the financial aid office. Students and parents borrowing Federal Direct Parent Loans, must complete and submit a Master Promissory Note (MPN) to the Department of Education before loans will be processed. First time student loan borrowers must also complete loan entrance counseling prior to funds being disbursed. A description of the terms and conditions for borrowers of federal education loans is available at www.studentaid.gov.
Federal Direct Subsidized loans are available to undergraduate students with financial need. The interest is paid by the federal government while students are in school. Interest begins accruing at the time students cease full-time enrollment. Regular payments begin six months after the student ceases enrollment. A fixed interest rate is established annually by the U.S. Department of Education. Current interest rates can be found at https://studentaid.ed.gov/sa/types/loans/interest-rates#rates.
Note First-time borrowers may not receive this type of loan for more than 150 percent of the length of their program of study; U.S. Department of Education may stop paying interest if student who received Direct Subsidized Loans for the maximum period continues enrollment. Loans for students who have exceeded the maximum eligibility period could begin to accrue interest after the student exceeds the 150% limit. Interest accrued in such a manner accumulates and is added to the principal amount of the loan. For more information please see your Financial Aid Officer or visit: https://studentaid.ed.gov/types/loans/subsidized-unsubsidized
Unsubsidized Direct loans are available for students to borrow for additional education costs. With the exception of demonstrating financial need and undergraduate status, borrowers must meet all eligibility criteria of the Federal Subsidized Direct loan program. Interest payments begin immediately after the loan is fully disbursed or may be added to the principal balance. Generally, you may choose to make interest payments on the loan while you are in school or have the interest added to your principal balance (capitalized) when your repayment schedule begins. Regular payments begin six months after the student ceases enrollment. Interest rates are fixed and established annually by the U.S. Department of Education. Current interest rates can be found at https://studentaid.ed.gov/sa/types/loans/interest-rates#rates
Federal Parent Loans for undergraduate students provide additional funds for credit-worthy parents to help pay for students’ educational expenses. If a parent has no credit or a poor credit history, he/she may still qualify for a loan by applying with a credit-worthy endorser. They can be combined with other financial aid resources and cannot exceed the student’s cost of education. Interest rates are fixed and established annually by the U.S. Department of Education. Current interest rates can be found at https://studentaid.ed.gov/sa/types/loans/interest-rates#rates. Repayment begins immediately after the loan is fully disbursed.
We offer multiple, flexible payment plan options through Education Loan Source. These payment plans allow students to spread payments over a pre-set period of time, as opposed to paying the full amount up-front. An interest rate may apply depending on the plan chosen. A credit check may be required at the time of application, and the process is completed 100% online using an e-signature validation. Please speak to a Financial Aid Representative to find out more information.
Private loans are available to students to help pay educational expenses. Students may borrow from any lender of their choice including Sallie Mae. Private loans have repayment terms that vary depending on the lender from which you borrow. Generally, private loans require that the borrower is a U.S. Citizen, a U.S. national, or a permanent resident and must be creditworthy. If the student has no credit or a poor credit history, he/she may still qualify for a loan by applying with a creditworthy co-borrower. Please talk to your financial aid representative for more information. Be sure to research and review each lender’s terms and conditions before making a final decision.
Learn More: Sallie Mae Student Loan, Sallie Mae Scholarship Search
The Cal Grant C is available to eligible students in California. You must be a be a U.S. citizen, permanent resident, or have AB 540 student status, attend a Cal Grant Eligible vocational, occupational, or technical program or meet other standard criteria listed at www.csac.ca.gov. If the Commission determines you eligible for a Cal Grant C, you will be required to complete the Cal Grant C Supplement Form and return to the California Student Aid Commission by the requested deadline. To learn more visit www.csac.ca.gov
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NOTE: Bellus Academy is a private institution and is not eligible to receive funding under the California “Dream Act” (AB 540) which provides in-state tuition benefits for undocumented students and certain other students who attend or will attend public universities in California. Undocumented AB 540 students are not eligible for federal student aid, including Pell and other grants, government loans, and federal work-study. Federal financial aid is not available for students who are applying as non-immigrant alien international students under an M-1 Visa status.