You’ve been thinking about enrolling, but the next question on your mind is “how will I afford it?”
While the decision to apply can be an intimidating process, we want you to sit back, relax, and enjoy the flight! CAU’s staff of dedicated professionals are ready to help you find out if you’re eligible for financial aid assistance to meet the cost of education.
Every student’s situation is unique, so finding the right financial aid plan for aviation school is important. Financial aid is available to those who qualify and CAU’s financial services coordinators will help you determine what the best financial plan is for your specific situation. Call our Financial Services Department today to learn more about the financial aid programs available in California.
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Grants can be considered as free financial aid money from the government that students do not have to pay back.
Federal Pell Grants
A Federal Pell Grant, unlike a loan, does not have to be repaid. Pell Grants are only awarded to undergraduate students who have not already earned a bachelor’s degree. CalAero requires students to apply for the Pell Grant by completing the FAFSA (Free Application for Federal Student Aid).
An ISIR (Institutional Student Information Record) or SAR (Student Aid Report) is generated, and the EFC (Expected Family Contribution) is calculated on the report which indicates whether a student is eligible for a Pell Grant.
Federal Supplemental Educational Opportunity Grants (FSEOG)
The FSEOG is for undergraduates with exceptional financial need – i.e., students with the lowest EFC (Expected Family Contribution). FSEOG is available only to students who qualify for the Pell Grant.
Cal Grant C
The Cal Grant program is administered by the State of California. The Cal Grant C assists students in occupational/career training programs. To qualify, a student must be enrolled in a vocational school in a program from four to 24 months long. The application deadline for the Cal Grant is generally March 2. It is possible to transfer a Cal Grant to CalAero from a previous school.
Federal Perkins Loan
The Perkins Loan is a low interest rate loan (5%) for those who demonstrate a financial need. Students must repay this loan. If awarded, repayment begins nine months after the borrower completes or terminates his or her education. The minimum monthly payment is $40. Students must complete the FAFSA to be considered for the Perkins Loan.
Federal Subsidized Stafford Loan
A subsidized loan is awarded on the basis of financial need. If a student qualifies for this loan, the Federal government pays the interest for the entire time the student is in school and for an additional six months after the last date of attendance.
Federal Unsubsidized Stafford Loan
An unsubsidized loan is not awarded on the basis of need. If a student qualifies for this loan, this loan accrues interest from the date the loan is disbursed until it is paid in full.
Federal Parent Loan for Undergraduate Students (FPLUS)
The FPLUS loan allows parents of students who are dependent by federal definition to borrow for educational costs. To be eligible to receive the FPLUS loan, a parent will be required to pass a credit check. If the parent does not pass the credit check, the student can receive the Unsubsidized Stafford Loan. Repayment usually begins within 60 days after the final loan is issued with the interest beginning to accrue at the time of the first disbursement.
Other Aid Programs
Students attending CalAero may, if eligible, receive funds to meet educational costs from the Bureau of Indian Affairs, Division of Vocational Rehabilitation, Employee Tuition Reimbursement, JTPA, and other organizations and agencies providing scholarships and grants.
Federal Work-study and State Work-study
Work-study allows undergraduate students who demonstrate financial need to earn money for some of their educational expenses by working for a nonprofit agency. Students will be paid at least the current minimum wage, but possibly higher, depending on the type of work and skills required. Students must complete the FAFSA to be considered for Work-study funds. The Placement Department will help eligible students locate jobs.
Monthly Payment Plans
Independent students or parents of dependent students who do not wish to apply for educational loans or who do not qualify for financial aid may make monthly tuition payments to finance the student’s educational cost. These arrangements are to be made with a financial aid associate.
Students should talk to one of CalAero’s financial aid associates to identify the best financial package to suit their circumstances. They will guide them through the process and create a financial plan specifically for their situation.