Financial Aid Policies
Commitment to the Code of Conduct
ArtCenter adheres to the Department of Education's Program Participation Agreement (PPA). In order to ensure our compliance with the Code of Conduct, please be aware of the following commitments.
ArtCenter College of Design agrees to:
- Provide detailed information about the terms and conditions of the loans offered by our suggested lenders, as required under section 153(a)2(a) of the Higher Education Act. Loan terms and conditions can be found and compared on the College’s FASTChoice page.
- Disclose why we entered into an arrangement with each lender, particularly with respect to terms and conditions or provisions favorable to the borrower.
- Disclose that students do not have to borrow from a lender on the suggested lender list.
- Ensure that the list contains at least two unaffiliated lenders for private education loans. The list must specifically indicate whether a lender is or is not an affiliate of each other lender on the list. If a lender is an affiliate of another lender, the institution must describe that affiliation.
- Disclose the method and criteria used in selecting the lenders. ArtCenter’s lenders have primarily been selected based on those lenders our students have successfully used in the past.
- Compile the list with care and without prejudice for the sole benefit of students and their families.
- Refrain from denying or impeding the borrower's choice of a lender or unnecessarily delay certifying a loan for a borrower who chooses a lender not on the list.
- Provide information for a private education loan, upon request of an applicant. The institution must also provide the form required under section 128(e)(3) of the Truth in Lending Act, and any information needed to complete the form, to the extent the College has that information. Truth in Lending information can be found for each lender listed on the College’s FASTChoice page.
- Refrain from accepting gifts or expense reimbursement from lenders in exchange for loan volume or preferred lender status. This includes revenue sharing, custom printed materials or co-branded websites, any financial benefit as compensation for any type of consulting, staffing assistance or receiving any compensation for serving on any lenders advisory board.
Verification Policy
Once students complete and submit the Free Application for Federal Student Aid (FAFSA) to the Central Processing System (CPS), there is a possibility that the application will be selected for a process called “Verification”. This is an audit/review process in which the student’s school of choice will be required to conduct a file review in order to determine the student’s aid eligibility.
Generally, CPS will select the application for verification based on conflicting data, a change from the prior year or due to a random selection process. The College’s Financial Aid Office is also authorized to “Institutionally” select applications for this review process in cases with conflicting information.
Federal Satisfactory Academic Progress
The Financial Aid Office is required by federal law to monitor the academic progress of federal financial aid recipients. Undergraduate students must maintain a 2.50 grade point average and complete at least 67% of the units they attempt in order to remain eligible for federal student aid. Graduate students must maintain a 3.00 grade point average and complete at least 67% of the units they attempt.
Federal Satisfactory Academic Progress (SAP) is measured at the end of each semester and when a continuing student applies for aid for the first time. Students not meeting satisfactory academic progress standards are provided one semester on warning to elevate the grade point average and units completed up to the standard. If they do not meet the standard, they lose financial aid eligibility until they are able to do so. Students may be able to appeal under some conditions and continue to receive their federal aid while on probation. Students who have lost eligibility must regain satisfactory academic standing before federal aid can be awarded.
Scholarship Satisfactory Academic Progress Policy
The Financial Aid Office monitors the academic progress for scholarship recipients. Undergraduate students must maintain a 2.5 grade point average. Graduate students must maintain a 3.0 grade point average. Scholarship Satisfactory Academic Progress is measured at the end of each semester. Students whose cumulative GPA falls below the standard are given one “warning” term and one “probation” term. Failure to bring the GPA up will result in the forfeiture of scholarship awards. Students may be able to appeal to have their scholarship reinstated for one semester on a probation status. If an appeal is not approved students will permanently lose their scholarship.
Veterans Benefits
In collaboration with the U.S. Department of Veterans Affairs (V.A.), ArtCenter is proud to be able to assist veterans and their dependents via the Yellow Ribbon Program.
The Yellow Ribbon GI Education Enhancement Program is a provision of the Post-9/11 Veterans Educational Assistance Act of 2008, which allows degree-granting institutions in the United States to voluntarily enter into an agreement with the V.A. Under this agreement, ArtCenter will contribute up to $4,000 of tuition expenses to our student veterans and the V.A. will match that amount.
Withdrawal and Leave of Absence
All students who wish to take a term off or withdraw from ArtCenter need to file a Withdrawal Form in the Enrollment Services Office. Once the Financial Aid Office receives the information, the student's award letter will be revised. Financial aid is not available during a term when you are not enrolled at ArtCenter; all loans will be canceled and/or returned to the lender. All other aid will be returned to the appropriate programs.
Return of Title IV Funds
Students who are receiving financial aid and who withdraw from all classes prior to completing 60% of the semester will have their eligibility for federal aid recalculated based on the percentage of the term completed. The College is required to return aid to the federal financial aid programs. Students who drop any classes after the term begins may owe a tuition balance to the college after aid has been returned.
Federal and State Degree Audit Requirements
According to federal regulations, students are not eligible to receive Title IV assistance (Federal Student Aid) for course work that will not count towards the completion of that student’s degree program requirements. In compliance with federal financial aid regulations, ArtCenter is only able to disburse federal and state financial aid funds toward classes that are required on a student’s degree audit. This means that classes taken that go beyond the requirements for degree completion are not eligible for any federal or state financial aid. Students should expect their federal and/or state financial aid to be prorated or removed completely depending upon the courses they choose to enroll in each term. The system will verify that the first 12 units count towards the degree requirements. Only courses that satisfy a degree requirement will result in eligible payment. Students who have been approved to substitute a course must submit the Waive-Sub Forms to Enrollment Services prior to the term in order to receive eligible funding on schedule.
Additional information regarding these policies and other Financial Aid services is available on the College intranet, Inside ArtCenter.