Student Financial Aid
Welcome! There is a Financial Plan for everyone at Centura College. No investment in the future can pay higher dividends than the right type of education at the beginning of a new career. Those students in need of student financial assistance are urged to contact Centura as early as possible. Federal Financial Aid is available to those who qualify.
How You Can Afford a College Education at Centura:
1. Non-repayable Federal Pell Grants are available based upon financial need for those who qualify
2. Subsidized and Unsubsidized Federal Family Education Loan Programs at reduced interest rates are often available for those who qualify
3. If you will work and study at the same time
4. Some applicants qualify for vocational rehabilitation. If you are a dislocated worker or economically disadvantaged (WIA) for this education benefit
5. Veterans of military service
6. Active duty military can participate in a tuition assistance program
7. Monthly payments from family who can help or your own personal resources
8. If your are a child or spouse of a deceased or disabled veteran
9. If your parents qualify for railroad retirement benefits
10. You may qualify for a competitive scholarship
11. If you are currently employed with a company that has a college education tuition reimbursement plan
For more information please contact Centura College about student financial aid today. We have professionals knowledgeable in admissions, financial aid, your college education and more.
Financial aid is financial assistance to students whose resources may not fully cover the costs of acquiring a college education. It consists of a combination of grants, low cost loans, reimbursement and other arrangements. Grants are considered gift aid and do not have to be repaid. Loans are funds lent to a student in order to help defray college education expenses and must be repaid. There are multiple sources of assistance beyond the Federal Title IV programs. All those in which the school participates, are discussed below; however, the student is encouraged to investigate any source that might arise. For instance, scholarships are varied and ever-changing.
Prospective students and their parents are encouraged to meet with a Financial Aid Officer of the school. Centura College is recognized by the U.S. Department of Education as a proprietary institution of higher education for the purpose of student participation in federal grant and loan programs. In order to be eligible for any of our programs, you must be a U.S. citizen or permanent resident and maintain Satisfactory Academic Progress. Since all aid received from any Federal Family Education Loan Program must be used only for educational purposes, students receiving such aid must sign a Statement of Education Purposes, promising that the assistance received will be used only for expenses related to attending school. Applications for all types of financial aid are available from the campus Financial Aid Officer.
Some of the many types of financial aid available for qualified students are as follows:
Federal Pell Grant
The Federal Pell Grant is an award from the federal government that does not have to be repaid. Eligibility for this award is computed primarily on the basis of parent/student income and assets, family size, and number in school. All students should apply. For many students, these grants provide a foundation of financial aid to which aid from other federal and non-federal sources may be added. The amount that will actually be received depends upon the expected family contribution, whether the student is full- or part-time, how long the student will be enrolled during the academic year, and the cost of education at the school. Applicants must not have previously earned a four year degree.
Federal Supplemental Educational Opportunity Grant (FSEOG)
FSEOG, like Pell, is a grant which does not have to be repaid. Eligibility is determined based upon expected family contribution, Pell eligibility, and availability of federal funds. Applicants may not have previously earned a four year college degree. This grant is awarded to those students who demonstrate exceptional need, as defined by the U.S. Department of Education, through need analysis. Funding for this grant is very limited, so it may not be possible to meet the needs of all students within a given award year. Funds will be awarded first to on-time applicants. An on-time applicant is one whose file is materially complete by Friday of the first week of class. Your Financial Aid Officer will be able to tell you whether or not you qualify and if so, whether FSEOG is available.
Federal Family Education Loan Programs
The William D. Ford Direct Subsidized Loan Program and the Federal Subsidized Stafford Loan Program provide low-interest, long-term college education loans. The interest rate varies annually, up to a maximum of 8.25%. Eligible students should check with their Financial Aid Officers for annual loan limits. This is a loan, not a grant, and must be repaid. The goal of the loan programs is to provide students the broadest possible access to loan capital. Many students qualify for federal interest subsidy. The federal government pays interest on the loan to the lending institutions while the student is in school, as well as during the six month grace period following their last date of attendance. Repayment generally begins six months after the student leaves the school. Current interest rates and additional information are available from a Financial Aid Officer.
The William D. Ford Unsubsidized Direct Loan Program and the Federal Unsubsidized Stafford Loan Program provide additional borrowing potential for college students. Students who are determined to be eligible to participate in this program, should check with their Financial Aid Officer for annual loan limits. The interest rate on this loan varies annually up to a maximum of 8.25%. If the student borrower is a full-time student, repayment of principal and/or interest may be deferred until after graduation. Students may apply for these loans throughout the year since there is no filing deadline. Repayment generally begins six months after the student leaves school.
PLUS Loan
Parents of students determined to be dependent for financial aid purposes, may apply for a Parent Loan for Undergraduate Students (PLUS Loan), for their student attending the school. The maximum varies depending upon the student’s cost of attendance and the amount of any other aid the student may receive. Repayment begins on the date the last disbursement of the loan is made. There are deferments available to the parent; see your Financial Aid Officer regarding terms and eligibility. The interest rate varies annually up to a maximum of 9%. PLUS loans are available through both the Federal Family Education Loan Program and the William D. Ford Direct Loan Program. Applications are available in the Financial Aid Office.
Military Tuition Assistance
Programs of study at Centura are approved for active duty military personnel. The level of tuition assistance varies depending upon the branch of the service and any additional financial aid the student receives. Students must maintain at least a C average to remain eligible for tuition assistance benefits. For additional information, students should contact a Financial Aid Officer and their Base Education Officer.
Veterans Benefits
Centura programs have been approved by the state Committee on Veterans Education to train veterans and disabled veterans. The Veterans Administration will provide the veteran money to pay for educational expenses.
Rehabilitative Services
Centura is approved to train qualified clients of the State Department of Rehabilitative Services. The amount of financial assistance is dependent upon the counselor’s recommendation. If you have a disability which may limit your normal pursuance of any position, you may be eligible under this program. Contact your local Vocational Rehabilitation Office.
Veterans Survivors
Students may be eligible to receive benefits while in attendance at Centura. This same policy applies to sons, daughters, or spouses of a deceased or disabled veteran. For more information, contact the Veterans Administration or your Social Security Office.
Scholarships
Any student in good standing may apply for a $100.00 scholarship which goes toward their tuition at the school. In order to apply, a student must have a B average and must be in good standing with the school. An essay must be submitted on one of the following subjects:
Why I Chose Centura to Continue My Education
How Centura Has Helped Me
All applicants will be reviewed jointly by the School Directors and one outstanding student will be selected from the entire student body thirty days prior to each graduation ceremony. For further information on additional scholarships, please refer to “A Guide to Our Financial Aid Program”.
Payment Plans
The school has tuition payment plans available for students who may need to use the income from a part-time job or from family or personal resources to meet tuition obligations. There are also, private, non-federal loan sources available. A plan tailored to meet your needs while attending school can be arranged. We want to help you attend Centura. Check with the Financial Aid Officer for full details on tuition payment schedules.
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