Recipients of federal and/or Corcoran financial aid must be enrolled or accepted for enrollment in a degree-seeking program. Limited iunstitutional grants and scholarships are made available to qualifying degree students. Additionally, graduate students are eligible for certain graduate fellowships. The Corcoran utilizes the Federal Methodology (FM) needs analysis formula developed by the U.S. Department of Education to determine student eligibility, based on the financial information reported on the Free Application for Federal Student Aid (FAFSA). Student eligibility is evaluated each academic year but can be evaluated during the year if circumstances warrant. Once enrolled, students must maintain Satisfactory Academic Progress (SAP) towards degree requirements (see Academic Standing) in order to be eligible to receive or continue receiving federal student financial aid. A minimum of half-time enrollment (six credits) is required for eligibility to receive federal loans and Corcoran financial aid.
Students moving within the Corcoran from undergraduate to graduate status should be advised that their financial aid status and options will change immediately and in the longer term. For example, previous undergraduate financial aid awards are not applicable at the graduate level.
Applicants interested in financial aid must submit the Free Application for Federal Student Aid (FAFSA) for consideration. Priority application filing date for these forms is February 1.
A completed FAFSA is required for all students interested in need-based aid, including Corcoran grants and scholarships, graduate fellowships, and federal and state loan and grant programs. The FAFSA is required for many private scholarships. It is used to calculate the student’s Expected Family Contribution (EFC). Complete the FAFSA online at www.fafsa.gov . The Corcoran’s Title IV School Code is 011950. Students are encouraged to complete the FAFSA as soon as possible after January 1 to ensure adequate processing time. Students should feel free to estimate the parent and/or student income on the FAFSA in order to meet the specified priority dates.
Undergraduate and graduate students enrolled full-time are eligible to receive Corcoran scholarships and grants. Priority consideration is given to students who complete the financial aid application process by the specified priority dates. All Undergraduate Scholarships and Deans Graduate Scholarships are non-need-based awards funded by the Corcoran that recognizes academic achievement and artistic talent. Corcoran grants are need-based awards based on the student’s financial need as demonstrated by the FAFSA and availability of funds. In some cases scholarship recipients will be asked to personally acknowledge and thank the donors whose contributions have made their scholarships possible.
The Corcoran Graduate Fellowship Program awards excellence in a particular field of study. Fellowships are awarded to talented incoming students based on the graduate application and academic merit. Students must be enrolled in at least nine credits per semester, maintain a minimum 3.5 cumulative grade point average and work 10 hours per week over the course of 15 weeks with the College or the Gallery.
Each year during the spring semester, a number of awards and scholarships are presented to outstanding and exemplary students at the Corcoran Student Awards Ceremonies. Faculty and department chair or program director selects the award recipients in accordance with the criteria specified for each award or scholarship.
District of Columbia residents interested in the DC LEAP or DC TAG programs may complete the DC OneApp. For more information visit www.seo.dc.gov
The Corcoran participates in all major financial aid programs offered by the U.S. Department of Education. Recipients must be U.S. Citizens or eligible non-citizens. Recipients must not be in default on a Federal Perkins, Direct Staffords, or Direct PLUS Loan, or owe a refund on a Federal Pell, SEOG, or the SSIG Grant. Male recipients must also certify compliance with the Selective Service System’s registration requirements.
State Student Incentive Grants (SSIG) are federal funds that are allocated to states and matched with state funds to provide additional grants to eligible undergraduate students. SSIG regulations vary from state to state, and students should contact the State Student Assistance Agency in their state of residence for information and application materials. Some states allow grants to be used for attendance at colleges outside of the state.
Federal Pell Grants are awarded by the U.S. Department of Education. Eligible students may receive grants up to $5,645 for the 2013-2014 academic year. FAFSA applications must be completed to be eligible for consideration. These grants are not available to students who have already received a Bachelor’s degree.
The Federal Supplemental Education Opportunity Grants (SEOG) are awarded by the Office of Financial Aid. Eligible students can receive grants up to $ 1,500 for the 2013-2014 academic year. These grants are not available to students who have already received a Bachelor’s degree.
The Federal Work Study program provides eligible undergraduate students with part-time employment opportunities of 5–20 hours per week in the College or Gallery or with an approved non-profit organization. Most jobs are on campus with an hourly wage above the federal minimum wage standard.
Federal Perkins Loans are awarded to a select number of needy students by the Office of Financial Aid. A 5 percent fixed-interest rate is charged on these loans. Repayment starts nine months following the recipient’s graduation, completion of an approved deferment period or change in enrollment status to less than half-time.
Eligible dependent undergraduate students may borrow federal subsidized loans up to:
The interest rate for all undergraduate Stafford loans is fixed at 6.8% for loans disbursed after July 1, 2013. The aggregate loan limit for dependent undergraduate students is $31,000 and the aggregate loan limit for independent undergraduate students is $57,500. The maximum subsidized loan limit for both dependent and independent undergraduate students is $23,000.
Dependent undergraduate students are eligible to borrow an Unsubsidized Stafford loan of up to $2,000 per year. Eligible independent undergraduate students and students whose parents have been declined for the PLUS loan may borrow up to the following amounts in unsubsidized loans:
To complete a Direct Loan MPN and Entrance session online at www.studentloans.gov , students must have a Federal Student Aid PIN. The Federal Student Aid PIN is the same PIN used to complete the Free Application for Federal Student Aid (FAFSA). To apply for a PIN or for customer service regarding a previously assigned personal identification number, visit www.pin.ed.gov .
Federal Parent Loans for Undergraduate Students (PLUS) Loans are credit-based. They are available to parents of dependent undergraduate students regardless of need. Parents may submit PLUS loan applications and PLUS Loan Master Promissory Note online at www.studentloans.gov . Parents may borrow up to the cost of attendance minus any other financial aid the student has received.
Eligible graduate students may borrow up to $20,500 per year of the Federal Direct Unsubsidized Stafford Loan. The cumulative maximum amount that graduate students may borrow, which includes undergraduate and graduate studies, is $138,500, not more than $65,500 can be subsidized. The interest rate for all graduate Stafford loans is fixed at 6.8%.
Graduate student PLUS loans are credit-based. They are available to graduate students regardless of need. Graduate students may borrow up to the cost of attendance minus any other financial aid received. The GRAD PLUS loan application and PLUS loan Master Promissory Note are also available online at www.studentloans.gov .
Private loans are credit-based loans available to all students enrolled at least half time in a qualifying degree program. A student’s eligibility and loan amount cannot exceed the cost of attendance. These loans generally have a higher interest rate than federal loans.
The Corcoran College of Art + Design Preferred Lender List (PLL) includes the following lenders:
The Corcoran College of Art + Design is unaffiliated with any of the above lenders and does not receive benefits or compensation by placing any particular lender on the list. Corcoran student borrowers are not required to use the lenders on the list and are free to use any FFELP lender of their choice.
Other forms of aid, including additional grants and scholarships, are often available through private organizations, including clubs, churches and employers. Students are encouraged to investigate sources from all affiliations. Students may also wish to use an online scholarship search service such as www.fastweb.com . Veterans and members of the armed forces are encouraged to explore all available educational resources. The Corcoran participates in the Yellow Ribbon Program. Please go online at www.VA.gov for additional information. Undergraduate and graduate programs meet the program requirements for most external agencies.
The Corcoran offers Sallie Mae’s TuitionPay program, which is an interest-free payment option that spreads costs over a ten-month period for an annual fee of $55. Visit www.tuitionpay.salliemae.com for additional information.
The Kurtz student loan, a short-term, interest-free emergency loan, is available to Corcoran degree seeking students through the kind generosity of the Evelyn Stefansson Nef Foundation. It is intended for students facing temporary personal, financial, or medical emergencies. Students may borrow up to $1,000 at a time, and the loan must be repaid within 90 days of receipt. A late payment fee of $50 may be assessed if unpaid by the deadline. In addition, a hold may be placed on the student’s account. Any excess financial aid will be applied towards any outstanding Kurtz loan balance of the current academic year, even if prior to the 90 day deadline. Financial aid received in the current term may not be applied towards repayment of a Kurtz loan received in a prior academic year. Students wishing to apply for a Kurtz Loan may contact the Office of Student Accounts at (202) 639-1818 to apply for the loan.
Payments may be remitted in the form of personal check, cashier’s check, money order, or credit card (Visa, MasterCard, or American Express only). All credit card payments will include a 2.5% processing fee, and must include the cardholder’s name, address, telephone number and signature. Cash payments of $100 or less are also accepted. Payments may be mailed to the following address:
Office of Student Accounts
Corcoran College of Art + Design
500 Seventeenth Street NW
Washington, DC 20006
Any check returned due to insufficient funds, stop payment, closed account or any other reason will be assigned a $50 returned check fee. Any credit card payment that is declined will be assigned a $25 fee.
Students have the option to enroll in Sallie Mae’s TuitionPay monthly payment plan to pay their semester tuition and housing costs only. Students must pay all other fees to include the general fee, housing damage deposit, and graduation fees directly to the Office of Student Accounts. More information on TuitionPay enrollment is available at www.tuitionpay.salliemae.com.
Students with an outstanding balance will be charged a late payment fee of 2.5% of the balance at the time it is past due, with a minimum fee of $100. For accounts that are 30 days past due and beyond, they are subject to administrative actions. Administrative actions include the inability to access official transcripts, the inability to register for the following semester’s courses, and/or financial withdrawal from the current term. If financially withdrawn, the student will be responsible for financial charges according to the refund schedule.
Graduating students should note that official academic transcripts and diplomas will not be released until all outstanding tuition and fees are paid in full. Students with delinquent balances may petition to walk at graduation, pending the provost’s approval (see Graduation Requirements section for policies specifically related to graduating students with balances).
If internal collection efforts have been unsuccessful at any point in time, the student’s account will be referred to an outside collection agency at which time, the student will become responsible for the principal balance due to the Corcoran, as well as additional fees charged by the outside collections agency. Collections fees are 25–35% of the principal balance. Additionally, the student will be responsible for any incurred legal fees and court costs. Once a balance has been placed with an outside collections agency, the student and/or parent(s) will have their credit reported.
Student refunds are prorated based on the effective drop or withdrawal date, as determined by the Office of the Registrar, and the schedule that follows. Tuition and fees are not transferable to another academic term, nor are they reduced due to absence from class (approved or otherwise).
When a financial aid recipient withdraws from the college, the Corcoran must calculate the amount of federal financial aid earned by the student based on the withdrawal date. If the amount of federal funds disbursed to the student is more than the amount earned, the difference will be returned to the Title IV programs. Corcoran’s tuition refund policy is separate from the federal requirement to return unearned aid. If the amount returned on the student’s behalf is greater than the amount he/she would receive under the College’s refund policy, the student is responsible for immediate payment of the difference.
It is important for students to fully understand the financial consequences of their decision to withdraw. Students should consult with Corcoran’s Office of Financial Aid and upon withdrawal, must complete their financial aid exit counseling session. Refund, repayment and withdrawal policies are subject to change without notice in order to comply with administrative and regulatory requirements.
If any of the earned funds were not received by a student at the time of the withdrawal, he/she may be due a post-withdrawal disbursement. In this case, students may choose to decline some or all of the loan funds in order to avoid incurring additional debt.
The Corcoran’s refund policy is separate from the Title IV refund policy. Students should contact the Office of Student Accounts if federal funds were returned or credited to cover tuition costs; students should also contact the Office of Student Accounts to pay any uncovered institutional charges. Students may also be required to repay other federal, state or private student financial aid programs based on the terms and conditions associated with those programs.
Once federal financial aid funds have been credited to a student’s account, if the amount of the funds exceeds allowable charges, a credit balance occurs and a refund will be generated within 14 days of the first day of classes. Corcoran reserves the right to disburse all institutional aid after the end of Add/Drop period as per academic calendar. If the credit balance occurs after the first day of classes, a refund will be generated within 14 days from that date.
|Prior to August 28||100%|
|August 28–September 14||75%|
|September 15–October 2||50%|
|After October 2||0%|
|Prior to January 22||100%|
|January 22–February 10||75%|
|February 11–February 26||50%|
|After February 26||0%|
For the Summer 2014 refund schedule, please refer to the Corcoran’s website.
The Continuing Education tuition benefit for K-12 full-time art teachers does not apply to students who are enrolled in a degree program at the Corcoran.
Upon registration for courses (including, but not limited to, academic, studio, directed studies, maintaining status, non-credit workshops and internships) students will be assessed tuition and fees based on the following scale:
Tuition for students with written permission from the dean of students or the dean of enrollment to enroll at the Corcoran on a part-time basis is prorated at $1,031 per credit hour. Similarly, any student approved to enroll in more than 18 credits (whether for credit or audit status) during any given semester must pay an overage fee at the prorated tuition rate of $1,031 per credit hour for each additional credit.
Credit card processing fee
Late payment fee (tuition & related fees):
|$5||Official transcript fee|
|$20||Student ID replacement fee|
|$25||Declined credit card fee|
|$45||Application/reapplication fee: undergraduate|
|$50||Returned check fee|
|$50||Disposal of student work fee|
|$75||Application/reapplication fee: Graduate|
|$125||Late registration fee|
|$175||Georgetown campus parking fee (per semester): undergraduate and graduate|
|$150||Graduation application fee: undergraduate|
|$195||Graduation application fee: graduate|
|$200||Study Abroad fee (non-AICAD)|
|$250||Student housing damage deposit fee|
|$250||Graduate student course audit fee|
|$300||New undergraduate student tuition deposit fee|
|$500||New graduate student tuition deposit fee|
|$400||Student housing reservation deposit fee|
|$200–500||Facilities damage fee|
|$1,000||Graduate maintaining status fee (per semester)|