Financing Options for Your Education

Sanford-Brown 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 financial aid, students must maintain satisfactory academic progress as defined in the Sanford-Brown 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 student financial aid programs that can help offset the cost of your education. Please contact your Sanford-Brown Financial Aid Representative and/or the campus specific catalog for additional programs and details regarding options at your chosen campus.

You may also access the Department of Education’s Funding page, or guide and gain a more detailed understanding of student financial aid programs. Below is a brief summary of the Title IV programs in which Sanford-Brown participates:

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 needy undergraduate students who desire to continue their education beyond high school. Every student is entitled to apply for a Pell Grant through the FAFSA. Eligibility is determined by a standard federal formula which includes family size, income and resources to determine 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. The Federal Pell Grant makes it possible to provide a foundation of financial aid to help defray the cost of a postsecondary education. Unlike loans, the Federal Pell Grant does not usually have to be paid back.

Federal Supplemental Educational Opportunity Grant (FSEOG)

Description: The FSEOG is a grant program for undergraduate students with exceptional need. Priority is given first to students with Federal Pell Grant eligibility. The federal government allocates FSEOG funds to participating schools. This is a limited pool of funds 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.

FSEOG Maximum for an Award Year
Range $100 - $4,000

Federal Stafford Loans (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 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. Learn more.  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). As of July 1st, 2010 all schools participate in The William D. Ford Federal Direct Loan program (DL). There are two types of Stafford loans; subsidized and unsubsidized.

Federal Stafford Loans: How much can I borrow?

Whether subsidized or unsubsidized, eligibility is determined based on dependency status, financial need, cost to attend school 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).

Federal Stafford Loan Annual Maximums (Subsidized & Unsubsidized Combined)
Dependent Student Independent Student
Freshmen $ 5,500 $ 9,500
Sophomore $ 6,500 $ 10,500
Junior & Senior $ 7,500 $ 12,500
Graduate n/a $ 20,500

Federal Aggregate (total combined borrowing) Loan Limits

Maximum Combined Subsidized and Unsubsidized Stafford Maximum Subsidized Stafford- based on need
Dependent Undergraduate $ 31,000 $ 23,000
Independent Undergraduate

$ 57,500

$ 23,000
Graduate $ 138,500 $ 65,500

Terms and Conditions

Federal 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 Parent PLUS 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 and are not based on need, but when combined with other resoureces, they cannot exceed the student’s cost of education. A credit check 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 get a loan?

Parents (Parent PLUS) and Graduate students (Graduate PLUS) must complete a Direct PLUS Loan application and promissory note, contained in a single form that students may request from the financial aid office. Terms and Conditions

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 institution's annual funding allocation from the federal government.

How much can I earn?

Federal Work Study 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 financial aid administrator will consider the award amount, class schedule, and satisfactory academic progress. For a listing of available positions please contact the Financial Aid Office.

Private Loans

Description: Various lending institutions offer private education loans to help cover the gap between the cost of education and the amount of federal and state aid available to those who qualify. A cosigner may be required to meet the program's credit criteria.

A private loan is made by a lender and may have terms and conditions that are less favorable than the Federal Stafford or Federal PLUS loans.

Interest rates vary and are typically based on the prime rate or the Treasury-Bill rate. Interest rates are often determined by the borrower's and/or cosigner's credit rating and credit history. Terms and conditions will vary by lender, be sure to read all of the details on the loan before you borrow.

Sanford-Brown does not endorse any specific lender. We strongly encourage you to compare loan terms and conditions of the lending institutions that offer or make loans to students, as it is your right and responsibility as the borrower to work with the lender of your choice. If you decide to apply for a private loan to help pay for your education you will suffer no penalty for your choice of lenders. If at any point in the financial aid process you have questions or need more information, a Sanford-Brown Student Finance Representative will be happy to provide assistance.

Financial Aid is available for those who qualify

Terms and Conditions

By providing your mobile number, you agree to receive text messages from Sanford-Brown via its mobile text message provider.  You may opt out of receiving messages by texting the word STOP to 94576, or simply reply with the word STOP to any text message you receive from Sanford-Brown.

While CEC or its mobile text message provider will not charge end users for receiving/responding to promotional messages, depending on the terms of your mobile phone plan, you may incur a cost from your mobile service carrier to receive and respond to any promotional text messages (standard messaging and data rates/fees and other charges may apply).  Charges will appear on your mobile phone bill or will be deducted from pre-paid amounts.  Current participating/supported carriers are: Alltel, AT&T, Boost, Cellcom, Cellular One, Cellular South, Cincinnati Bell, Cricket, Element Wireless, Golden State Cellular, iWireless, Metro PCS, Nextel, nTelos, Plateau Wireless, Sprint, T-Mobile, US Cellular, Verizon Wireless, Viaero Wireless, Virgin, and more.