The Federal Institutional Code for CBD College is 032503.
To receive aid from federal programs the student must:
- Demonstrate financial need
- Have a high school diploma or General Education Development (GED) certificate or state recognized equivalent
- Be enrolled as a regular student in an eligible program
- Be a U. S. citizen or eligible noncitizen
- Have a valid Social Security Number
- Maintain satisfactory academic progress
- Not be in default on a financial aid loan nor owe a refund to a financial aid grant received at any college or institution
- Register with the Selective Service (males between ages 18-26)
- Provide required documentation for the verification process and determination of dependency status
- Not have borrowed in excess of the annual aggregate loan limits for the Title IV financial aid programs
- Not have exceeded the Lifetime Eligibility Limit (LEU) for Federal Pell Grant
The following programs are available at CBD College for those who qualify.
Federal Pell Grants – are awarded only to undergraduate students who have not earned a bachelor’s or a professional degree. There is a lifetime limit of 600% eligibility for these grants. The grant amount is determined based on financial need and is calculated based on EFC (This number results from the financial information you provide on your FAFSA).
Federal Supplemental Education Opportunity Grant – awarded to undergraduates with exceptional financial need; Federal Pell Grant recipients take priority; funds depend on availability at school.
Federal Work Study – provides part-time jobs for undergraduate students with financial need, allowing them to earn money to help pay education expenses.
Direct Subsidized Loans – awarded to undergraduate students who have financial need; U.S. Department of Education generally pays interest while the student is in school and during certain other periods. Please visit studentaid.ed.gov for the latest information on interest rates. Borrowers may not receive this type of loan for more than 150 percent of the length of their program of study; the U.S. Department of Education may stop paying interest if the student who received Direct Subsidized Loans for the maximum period continues enrollment.
Direct Unsubsidized Loans – Financial need is not required; the borrower is fully responsible for paying the interest regardless of the loan status. The Interest on unsubsidized loans accrues from the date of disbursement and continues throughout the life of the loan. Please visit studentaid.ed.gov for the latest information on interest rates.
Direct PLUS Loans – For parents of dependent undergraduate students; the borrower is responsible for all interest; financial need is not required. Please visit here for the latest information on interest rates.
Private Educational Loans – In case students are not eligible for free or lower-cost Title IV federal aid, students have the option of applying for private education loan in place of, or in addition to federal aid. Students are strongly encouraged to pursue the availability of free or lower-cost financial aid with the school’s financial aid office. Students are encouraged to review each lender’s terms and conditions before selecting a lender. All students considering borrowing student loans need to understand the differences between federal student loans and private student loans. The Borrowers must review and compare the terms, interest rates, associated fees, and repayment options before accepting the loan. The terms and conditions of Title IV, HEA program loans may be more favorable than the provisions of private education loans.
The amount of student’s award is determined based on their Expected Family Contribution (EFC), which is calculated based on the information reported on the FAFSA. All awards are also determined based on program length and the academic year the student is enrolled in.
To learn more, contact our Financial Aid Office at 213/427-2200 or e-mail FinancialAid@cbd.edu.