Non Need-Based Aid
New students are considered automatically for institutional scholarships based on their audition or portfolio review. In subsequent years, merit-based named or endowed scholarships are awarded to continuing students according to donor criteria and academic department selection. Individual departments may or may not have a require application process. All student awards are based upon artistic and academic merit
Federal Subsidized and Unsubsidized loans need to be repaid and have different terms depending on the loan. Subsidized loans have no interest accruing while in school but unsubsidized loans do. The unpaid interest on the loan is added to the loan principal at repayment making it a slightly larger loan than initially borrowed. The interest rate for 2014-15 was 4.66% and the loan fee was 1.073% of the loan amount.
Federal PLUS loan is available to parents of undergraduate students as credit-based loan. A parent needing a loan deferment must request it from the Loan Servicer as soon as Plain Language Disclosures are received by mail from the Servicer, approximately one week before the scheduled disbursement just prior to the beginning of the fall semester. Interest accrues and is capitalized quarterly unless interest payments are made. The interest rate for 2014-15 was 7.21% and the loan fee was 4.292% of the loan amount. Applicants can borrow up to cost of attendance minus other aid. More information or assistance is available from Cornish Financial Aid Staff at 206.726.5014 or at firstname.lastname@example.org.
A private loan is an option to cover your educational costs after federal loans. It is a non-federal loan issued by a lender such as a bank or credit union. It is important to note that private loans do require a credit check of the student borrower and co-borrower. A private loan is a viable option to cover direct costs but is generally more expensive than federal loans with terms varying by lender and loan product. You may do your own search for a private lender. The Financial Aid office at Cornish will work with your lender of choice. Click here to access a list of some of the common lenders our Cornish students have elected to use.
All students are encouraged to apply for outside scholarships. Please click here to search for a scholarship you may be eligible to apply for.