Financial Aid

Frequent Questions

Tuition

Why Does Central College Offer an Affordable Tuition Price?

Central College offers tuition at an affordable price comparable to state schools to be transparent about the cost of a private, higher education. Rather than listing an artificially high tuition price and offsetting it with high financial aid, Central prices tuition so it is clearer to everyone.

Is Room and Board Included in the Price of Tuition?

No. Our prices for room and board are comparable to or lower than other colleges and universities.

With Central’s Low Tuition, Do Students Still Receive Scholarships and Financial Aid?

Yes. The amount of aid is proportional to tuition. A robust assortment of scholarships and financial aid remains available. In fact, Central offers more scholarships than ever before in the college’s history.

Who Do I Talk To if I Have Questions About Central’s Tuition?

If you have further questions about Central’s tuition, you may contact:

 

FAFSA and Financial Aid

Where Do I Obtain the FAFSA Applications?

The online version of the Free Application for Federal Student Aid (FAFSA) is available at FAFSA.gov. The FAFSA school code for Central is 001850.

What Forms and Documents Do I Need To Submit To Apply for Financial Aid?

You should complete the FAFSA listing Central College (001850) as one college to receive the results. In addition, you and your parents may be required to submit copies of federal income taxes if selected for verification by the federal processor.

Do I Have To Maintain a Certain Grade Point Average To Be Eligible for Financial Aid?

You are expected to maintain satisfactory academic progress as outlined in the Central College catalog.

What Are the Due Dates for Applying for Financial Aid?

Incoming first-year and transfer students are encouraged to submit the FAFSA beginning Oct. 1. Iowa residents must file the FAFSA prior to July 1 for need-based state aid.

Do We Need To Have Our Taxes Completed To File the FAFSA Application?

No. You may complete the application using reasonable estimates of income. If this is done, please understand that final results using actual tax figures may change the student aid award. You may need to submit copies of your tax transcript at a later date if you are selected for verification.

Do I Need To Reapply for Financial Aid Each Year?

You must reapply for aid each year by submitting the FAFSA if you receive need-based aid, a Stafford Loan or Teach Grant.

When Will I Receive My Financial Aid Award From Central?

We begin mailing new student aid awards as early as November and continue awarding on a rolling basis thereafter. You will need to be accepted for admission and have your FAFSA results to us before we will be able to process your financial aid offer.

What if My Family’s Financial Circumstances Change After I File the FAFSA?

Any substantive changes in your family’s financial situation should be reported to the Financial Aid Office. Examples of such changes are a significant decrease in income, unusual medical expenses, or a change in parents’ marital status.

What Types of Gift Aid Are Available?

Central offers many merit- and need-based scholarships and grants from our own funds. Legal residents of Iowa may be eligible for the Iowa Tuition Grant if your estimated family contribution is under $15,000 and you complete the FAFSA prior to July 1. Students who have the highest levels of financial need under federal methodology may qualify for Federal Pell Grants and Federal Supplemental Educational Opportunity Grants.

We Do Not Have the Resources To Cover Our Expected Family Share of the Costs of Education. What Are Our Options?

To cover the expense of higher education, many families choose to spread the costs over time through a combination of monthly payments and borrowing through various student loan programs. Federal Unsubsidized Stafford Loans and Federal Parent PLUS Loans are not based on need and may be used to pay a family’s share of costs, without reducing eligibility for need-based aid.

For more information, contact:

Does Central College Offer a Monthly Tuition Payment Plan?

The monthly payment plan at Central College is a tuition management plan that gives your family the option of dividing the cost of one semester into three, four or five monthly payments. Enrollment into a monthly payment plan opens in June for the fall semester and November for the spring semester. Payments can be made via Central’s “Self-Service” portal, which is available following enrollment.

For more information, contact:

 

How Do I Have Outside Scholarships Credited To My Account?

Outside scholarship donors should include your name on the face of the check. Checks should be made payable to Central College (or co-payable to Central College and the student) and sent to the Financial Aid Office, Campus Box 5800, Pella, IA 50219.

How Will Outside Scholarships I Receive Affect My Eligibility for Need-Based Financial Aid?

Any outside scholarships are viewed as financial resources available to meet your financial need. You are required to report outside scholarships to the Financial Aid Office. The gift portion of your financial aid package will not be reduced based on your outside scholarships. The increase in gift aid may result in a reduction of the loan or work-study portion of your package.

What Is the Difference Between a Federal Subsidized Stafford Loan and a Federal Unsubsidized Stafford Loan?

The Federal Subsidized Stafford Loan is awarded on the basis of need according to federal eligibility standards. These loans can cover up to $3,500 for first-year students, $4,500 for sophomores and $5,500 for juniors and seniors. This loan is currently at a fixed rate of 4.99%, but interest does not accrue while the student remains in school at least half-time. The federal government pays the interest during enrollment and periods of deferment. Repayment begins six months after you cease attending college half-time.

If other forms of financial aid do not meet the total costs of education, any degree-seeking U.S. citizen or permanent resident, regardless of need, can qualify for a Federal Unsubsidized Stafford Loan by simply completing the FAFSA. Interest on an unsubsidized loan accrues while the student attends college.

What Is the Net Price Calculator?

The net price calculator is a tool that you can use to estimate your “net price” to attend a particular college or university. Net price is the difference between the “sticker” price (full cost) to attend a specific college, minus any grants and scholarships for which you may be eligible. Sticker price includes direct charges (tuition and fees, room and board) and indirect costs (books and supplies, transportation and personal expenses).

How Do We Choose Between Loan Options?

You must assess your lending priorities — interest rates, size of monthly payments, student vs. parent loans, deferment provisions, home equity options — and decide what type of loan best meets your current financial needs.

What Is Federal Work-Study?

You may be offered the opportunity to work on campus and earn money for education-related personal expenses as part of your financial aid offer if you show financial need. Earnings are limited to the amount awarded in the aid package. Typically, Central College students work about 6 to 8 hours per week. Earnings are paid directly to the student by check as the work is performed and are not credited to the student’s account. You may use your earnings to cover personal expenses.

Are There Jobs Available for Students Who Are Not Eligible for Federal Work-Study?

The Office of Student Employment maintains a listing of part-time jobs on campus and in the community. There are usually opportunities on campus, but students with financial need are given priority.

Is Financial Aid Available To Cover the Cost of Summer School?

Institutional scholarship aid is not awarded for summer session classes. The tuition costs for summer classes are heavily discounted.

Who Do I Talk To if I Have Questions About the FAFSA and Financial Aid?

If you have further questions about the FAFSA and financial aid at Central, see our FAFSA Tips or contact: