Your first and primary step in your financial aid process is to complete the FASFA (the Free Application for Federal Student Aid).
You use the FAFSA to apply for federal student financial aid such as grants, loans and work-study. In addition, most states and schools use information from the FAFSA to award non-federal aid.
Start by completing a FAFSA 2011-2012 on-line right here at www.fafsa.ed.gov.
Although Portfolio Center looks and acts like a graduate school, Portfolio Center's programs are non-degree granting. Therefore, when completing the FAFSA, you must answer as follows:
If you have already completed a FAFSA prior to applying to Portfolio Center, ensure:
It is importrant to note that The FAFSA is not a loan application. For federal loan applications please contact Regenia Jarrett at the Portfolio Center Financial Aid Office at 1-800-255-3169, ext.15 or by email.
Here are the FASFA deadlines:
You apply for federal grants by completing the FAFSA (see above). Students are not eligible if they have completed an undergraduate degree. Grants are awarded on a sliding scale, the maximum is $2250 per quarter. Grants do not require repayment.
Scholarships are awarded to you based on financial need, merit, and dedication to studies. Many design firms, advertising agencies, private individuals, and professionalorganizations contribute to Portfolio Center scholarships. Each scholarship amount varies, and while they are available to all qualified applicants, there are several dedicated to minority students specifically. Scholarships are awarded both quarterly and yearly. Scholarships do not require repayment.
You must complete the FAFSA prior to applying for any type of federal student loans. Maximum loan amounts and loan types vary depending on the amount of loans the student has previously borrowed, the dependency status and the result of the FAFSA. In general, a student may borrow up to the following per academic year, or 3 quarters:
Private loan options are available to Portfolio Center students, but this option should only be considered when all other resources have been explored. Variable interest rates are the norm for private student loans: therefore, students need to be cautious of the lure of low interest rates. Most private lenders require good credit for the applicant and a credit worthy co-borrower. Credit unions and bank lines of credit may also be a private loan resource the student should explore. It is always a wise decision to compare several lending sources before taking out a loan.
The Financial Aid Office at Portfolio Center certifies the eligible student's enrollment at the school. At the time of acceptance, the student should notify the Financial Aid Office of the student's veteran status. The Financial Aid Office assists the student in initial registration; however, the student should contact his/her VA office for all eligibility issues.