How to Apply for Financial Aid
To Get Started
- Complete the Free Application for Federal Student Aid (FAFSA)
- The school code for Cornish College of the Arts is 012315.
- You and your parents will need a Personal Identification Number (PIN) to electronically sign your FAFSA. Visit Federal Student Aid PIN to apply for your PIN.
The Office of Financial Aid will receive a copy of your Student Aid Report (SAR) from the Department of Education.
- If you are not selected for verification by the Department of Education, the Office of Financial Aid will mail your Award Letter in February or March.
- If you are selected for verification (one-third of all students are selected annually), you will need to go to www.fafsa.gov to accept IRS Data Retrieval for tax year 2012 into your FAFSA and provide all W2’s for yourself and your parents or for yourself and your spouse if you are married, and a completed a Verification Worksheet to the Office of Financial Aid. Verification Worksheet is available online. Please submit all documents promptly to receive your best financial aid package. If you are unable to promptly complete verification, you will need to provide a copy of your IRS-granted extension or call the Office of Financial Aid immediately at 206.726.5014. The Office of Financial Aid will work with you to ensure your financial aid eligibility in 2013-2014 as long as you actively work to produce the required documentation to complete verification.
When You Receive Your Award Letter
- Review your award letter and use the cost and loan calculation worksheet to calculate your costs.
- Elimination of Federal Direct Subsidized Loan and Upfront Interest Rebates.
- There are two important changes starting in 2012-2013 regarding your Federal Direct Loans. A bill passed in Congress to raise the debt ceiling affected some of the terms on Federal Direct Student Loan policies.
- ELIMINATION OF UPFRONT INTEREST REBATE FOR STUDENT AND PARENT FEDERAL LOANS.
Beginning July 1, 2012, the upfront interest rebate will no longer be offered on any Federal Direct Loans. Federal Direct Lending will deduct a 1% origination fee on Federal Direct Subsidized and Unsubsidized Loans, and a 4% fee on Federal Direct Parent PLUS and Graduate PLUS Loans.
ELIMINATION OF INTEREST SUBSIDY ON THE STAFFORD SUBSIDIZED LOAN DURING THE SIX-MONTH GRACE PERIOD.
We recommend that students monitor their federal student loan borrowing history at www.nslds.ed.gov.
- 2013 – 2014: Apply for a student Stafford loan or parent PLUS loan online using FAFSA PIN as e-signature. You may access the electronic Master Promissory Note for the Federal Direct Stafford and PLUS Loan Programs at StudentLoans.gov.Plus loan borrowers: After double-clicking the link above and signing in to the site, do not select Apply for a PLUS Loan; instead select Complete a PLUS Master Promissory Note. Having difficulty viewing StudentLoans.gov? Try this link for help.
- 2013 – 2014: If you need additional funding, you may apply for a private educational loan. You may apply with any lender participating in the Private Educational Loan Program. Private loans are a viable option to cover direct costs but are considered a resource of last resort as they are more expensive and interest rates vary by lender and loan product. Please exercise caution in your selections.
The following are lenders from whom Cornish students borrowed private loans over the last four years and these lenders continue to participate in the program. Cornish does not endorse using any of the following lenders but provides the list in the event you have no starting point for your personal research:
- Alaska Commission on Postsecondary Education (ACPE)
- Boeing Employees Credit Union (BECU)
- Chase JP Morgan
- Discover Student Loans
- Grow Financial Credit Union (FCU)
- Sallie Mae Educational Trust (SLMA)
- US Bank – No Fee Education Loan
- Wells Fargo
- In addition, there are lenders nationally who participate in the Private Educational Loan Program. Note that the list was last updated 09.14.2012 so you will need to verify all loan terms before applying with any lender.
If you experience technical or processing difficulty or need a paper application, please contact your selected lender by phone.
After Completing All the Steps Above
Complete the Acceptance of Loan(s) form below. The Office of Financial Aid cannot release any funds into your tuition account until all requested documents are received, including this form.
- Use your costs, calculated in step 3 above to complete the following form:
- 2013 – 2014: Acceptance of Loan(s) Form – All Student and Parent Borrowers
- 2013 – 2014: Mandatory entrance counseling session for first-time Stafford Loan borrowers at Cornish.