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Moore College of Art & Design attracts qualified students from diverse economic backgrounds through its extensive financial aid programs. A private education should be affordable to all deserving students. In fact, in 2012-2013, more than 95 percent of our students received some form of financial assistance.
Financing a student’s education can be thought of as a partnership among the student, her family, federal and state governments and Moore College of Art & Design. Moore wants qualified students to focus on earning their degrees without excessive concern over how to fund their educations. Moore is willing to make every effort to assist the student and her family to meet her educational costs. However, the College believes that the primary responsibility to finance a student’s education rests with the student and her family.
Families are expected to contribute to their student’s educational expenses to the extent that they are able. Moore tries to maintain the same level of funding throughout full-time enrollment so long as the expected family contribution, as determined by the federal government, stays the same and so long as the student meets all the necessary deadlines and academic requirements.
Moore offers need-based financial aid as determined by the Free Application for Federal Student Aid (FAFSA). The College is committed to awarding all need-based financial aid funds in a fashion that is consistent with current law and that works to the maximum benefit of the student. All students are encouraged to complete the FAFSA apply for need-based assistance and competitive aid packages are prepared for those who qualify.
The resources listed below are available to degree-seeking students at Moore. Eligibility is typically based on full-time enrollment (minimum of 12 credit hours per semester). Any deviation from that condition, changes in enrollment may result in a change in the financial aid award. Most aid sources require students to be enrolled at least half-time (minimum of 6 credit hours per semester). Students who are not pursuing degrees are ineligible for federal aid, but may apply for appropriate private educational loans.
Pell grants are a form of federal aid that is awarded to eligible undergraduate students to help pay for their first baccalaureate degree. The amount is determined by the student's Expected Family Contribution from the FAFSA. Awards range from $602 to $5,550 per year. Students may receive a maximum of 12 full-time semesters of Pell Grant.
SEOG is awarded to those students who demonstrate exceptional financial need. The Financial Aid Office administers this grant. Awards of up to $2,500 are given and primary consideration is given to those students who have completed their FAFSA applications by March 1.
Federally funded awards are given to those students who demonstrate financial need as determined by the federal government. Under this program, eligible students may be employed on or off campus. A variety of community service employment opportunities are available. Employment is generally limited to about 10 hours a week during the academic year. Students will be paid monthly and the money they earn can be used toward living expenses, books or supplies. Students interested in participating in work-study must complete the FAFSA by March 1 each year.
This is a federally guaranteed low-interest (6.8%) loan based on financial need. This program offers loans of up to $3,500 per year for first-year students, up to $4,500 per year for sophomores, and up to $5,500 per year for juniors and seniors. Total undergraduate borrowing cannot exceed $23,000. No interest accrues while the student is in school; repayment begins six months after the student graduates, withdraws, or drops below half-time enrollment. Students have up to 10 years to repay the loan.
For more information or to apply for Federal loans go to www.studentloans.gov
This is a federally guaranteed low-interest (6.8%) loan that is not based on financial need. Loans are available to students who do not qualify for or who qualify for less than the maximum Subsidized Stafford Loan limits, students whose parents are not able to secure a Federal PLUS Loan, and for independent students as determined by the federal government. Dependent undergraduate base loan limits are the same as the Subsidized Stafford Loan. In addition to the base loan amounts, students may borrow up to $2,000 Unsubsidized Stafford Loan annually. Independent students and dependent students whose parents are denied the PLUS Loan may borrow up to an additional $4,000 per year for freshman and sophomore years, and up to an additional $5,000 for the junior and senior years. Total undergraduate borrowing for Subsidized and Unsubsidized Stafford Loans combined cannot exceed $31,000 for dependent students or $57,500 for independent students. Repayment of principal begins six months after the student graduates, withdraws, or drops below half-time enrollment. Students have up to 10 years to repay the loan. Repayment of interest begins when the loan is disbursed. Interest can be paid quarterly or can be capitalized and repaid with principal.
This is a federally funded loan for the parents of dependent students that is not based on financial need. The program allows credit-worthy parents to borrow the entire cost of education each year minus other financial aid awards. Repayment begins 60 days after the last disbursement is made to the college, or parents have the option of deferring repayment. The interest rate is a fixed rate of 7.9 percent.
For more information or to apply for Federal loans go to www.studentloans.gov.
This federally funded program provides low-interest loans to students who demonstrate financial need. The maximum annual award at Moore is $5,500. Recipients must sign a promissory note for the loans, and the monies are credited directly to the student’s account. No interest accrues while the student is in school; repayment begins nine months after the student graduates, withdraws, or drops below half-time enrollment. Students have up to 10 years to repay the loan. The interest rate is five percent for the life of the loan.
Most state agencies will obtain information for state grant processing from the FAFSA application. Additional information is usually requested directly from your state agency. Requirements vary from state to state, but residency requirements are common. Applicants who reside outside of Pennsylvania should contact their state Higher Education Assistance Agency to determine if their awards are available to students wishing to attend out-of-state colleges. States that allow grants to transfer to Pennsylvania are: Maine, Vermont, Massachusetts, Rhode Island, Ohio, West Virginia, Delaware, District of Columbia and Alaska. Pennsylvania residents who wish to be considered for state aid must have completed the FAFSA application by May 1.
This institutionally funded grant is awarded to qualified students as determined by the Financial Aid Office. Awards vary depending on the individual’s financial need. Awards are usually reduced on a yearly basis as federal loan limits are increased.
The Tuition Exchange (TE) is a non-profit reciprocal scholarship program for children and other family members of faculty and staff employed at over 600 participating institutions.
More Tuition Exchange Information
Ultimately the best resource for finding private scholarships and grants is the Internet. You are encouraged, whenever possible, to utilize this resource and all other resources to search out private scholarships and grants. You may sign up for a free scholarship search at www.collegeboard.com. Moore College of Art & Design will post any scholarship applications on the Scholarship Board. Here are additional Web sites that provide free search services:
If you have utilized all other resources and still need funds to cover expenses, you can consider a private or alternative education loan. The interest rate and fees charged by private lenders can significantly increase the cost of the loan, so always borrow smart. You have the right to choose any lender of your choice.
To be considered for assistance other than merit scholarships, you must complete the Free Application for Federal Student Aid (FAFSA). The FAFSA should be submitted as early as possible, but no later than March 1 for priority consideration. Do not wait for an admissions decision before filing for financial assistance. Use your estimated income data, if necessary, and follow up with actual tax information as soon as it becomes available. You should apply on line at www.fafsa.ed.gov. You and your parents, if dependent, will need a PIN, which you can request on-line at www.pin.ed.gov. This PIN will serve as your electronic signature. You can also create your own temporary PIN when you complete the FAFSA. Electronic applications will be processed in less than one week. Moore’s FAFSA school code is 003300. For more information regarding applying for financial aid, you can contact the Financial Aid Office at 215.965.4041 or by email at .