Financial Aid

FINANCIAL AID

CBD Financial Aid


CBD College
 is currently approved to offer federal financial aid to our students. For those who qualify, Pell Grants or other forms of federal financial aid may be available to cover the cost of tuition and materials. If you do not qualify for federal grants, you may be able to secure other options that will allow you to learn now and pay later, after you are a successful working professional.  We will work with you to make your education happen!

The cost of tuition varies depending on the program you are enrolled in, but the one thing all of the programs have in common is that they typically cost less than similar programs at other colleges. CBD is a not-for-profit school. That means our costs are lower, and we pass that savings on to you, the student.

To learn more, contact our Financial Aid Officers

For other school related and consumer information, please contact the Admissions Department

Veteran's Educational Benefits

Federal Financial Aid

Guide to federal student aid publication:  Do You Need Money For College?

To apply for Federal Financial Aid, students must create an FSA ID at www.fsaid.ed.gov and submit the Free Application for Federal Student Aid by visiting www.fafsa.gov.  To apply for federal loans, please visit www.studentloans.gov.

  • The Federal Institutional Code for CBD College is 032503.

     

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 in 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 student is in school and during certain other periods. Please visit studentaid.ed.gov located here 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; 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 located here for the latest information on interest rates.

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.

 

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Direct PLUS Loans  For parents of dependent undergraduate students; borrower is responsible for all interest; financial need is not required. Please visit here for the latest information on interest rates.


Cal Grant B and C –
are administered by the California Student Aid Commission (CSAC).  These state grants are available for eligible California residents. For more information, please visit csac.ca.gov.


Private Educational Loans 
– In case students are not eligible for free or lower-cost Title IV federal or state aid, students have the option of applying for private education loan in place of, or in addition to federal and state 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 the Title IV, HEA program loans may be more favorable than the provisions of the private education loans.
Private Student Loan Self-Certification Form

Students should contact the financial aid office to discuss their options.

 

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 students must reapply and renew the FAFSA every year by the announced deadline. The student’s circumstances will be evaluated every year for continued eligibility.

 

All students are required to maintain satisfactory academic progress to remain eligible for financial aid.  Satisfactory progress is computed on a cumulative basis at any given midpoint/payment period, and at the end of the program.  Please refer to CBD College’s SAP Policy for more details.

There are two disbursements for payments of tuition and fees per academic year. The first Grant and Loan disbursements are made on or after 30 days of school attendance.  The second disbursements are made on or after the midpoint of the program of study.

The student’s loan/grants proceeds will be applied to the student’s account for tuition and fees.  Any remaining proceeds will be paid to the student or to parents by check, if parents qualify or for a Direct PLUS loan.

 

Student Loan Counseling - Prior to first disbursement of federal loans, all first time borrowers of a Federal Direct Loan will be required to complete Entrance Counseling, which will provide comprehensive information on the terms and conditions of the loans and of the borrower’s responsibilities.

All students will be required to complete Exit Counseling before they graduate or withdraw.  Exit Counseling will help students calculate anticipated monthly repayment amount, choose repayment plan options and will provide other important information.

Students who will borrow Direct Loans will be required to repay the loans plus the interest regardless of the loan status.  If a student withdraws, a refund calculation will be completed and funds will be returned to federal programs in the order required by USDE. The interest rates for federal student loans are determined by federal law.

The interest rate varies depending on the loan type and (for most types of federal student loans) the first disbursement date of the loan.  To calculate a sample loan repayment schedule, please refer to the following link.

https://studentloans.gov/myDirectLoan/mobile/repayment/repaymentEstimator

 

All Federal Student aid Information is being reported to National Student Loan Data System (NSLDS) and is accessible by guarantee agencies, lenders and schools determined to be authorized users of the data system.  The National Student Loan Data System (NSLDS) is the U.S. Department of Education's (ED's) central database for student aid. NSLDS receives data from schools, guaranty agencies, the Direct Loan program, and other Department of ED programs. NSLDS Student Access provides a centralized, integrated view of Title IV loans and grants so that recipients of Title IV Aid can access and inquire about their Title IV loans and/or grant data by visiting www.nslds.ed.gov

 

Cancellation/Refund - Students have the right to cancel their program of instruction, without any penalty or obligations, through attendance at the first session or the seventh (7) calendar day after enrollment, whichever is later.  After the end of the cancellation period, students also have the right to stop school at any time; and have the right to receive a pro rata refund if students have completed 60% or less of the scheduled hours in the current payment period in their program through the last day of attendance.  For more details please refer to Institutional Refund and Return of Title IV Funds policy.

The requirements and procedures for officially withdrawing from the school are outlined in CBD College's Cancelation/Refund Policy.


Books - 
The cost of all books and supplies are included in the total program price.  All students have an option to opt-out of an arrangement that includes the cost of books and supplies in the total program.  Should s/he choose this option s/he will be required to provide a proof of purchase of ALL books and supplies by the cancellation date as noted in my Enrollment Agreement.  Should they choose not to opt out, students will receive all applicable books and supplies no later than 7th day of the payment period.

 

Notice of Federal Student Financial Aid Penalties for Drug Law Violation

Code of Conduct for Education Loans

Monthly Living Allowances for Financial Aid Budget for 16-17

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