Financial Aid
Most of our students do utilize some kind of financial aid. The CRAS Student Financial Services department provides a tremendous amount of assistance and planning for students who choose to utilize various types of financial aid. We have a number of different means to help our students attend. Federal financial aid is available to those who qualify. This is the same kind of financial aid that is available at other universities and colleges (e.g. Stafford Loans and Pell Grants.). There are also several kinds of private financial resources available to our students as well. Many students like to use e Cashier (formerly FACTS Management) to pay for tuition with no interest attached. The Conservatory of Recording Arts & Sciences is also approved for Veteran’s Administration and Montgomery G.I. Bill benefits. As a result of all that is offered, finances should not be an issue that deters a person from applying and ultimately attending CRAS. There is a way for nearly everyone to be able to finance his or her education.STEP ONE. Complete the CRAS online admissions application. If you have submitted an admissions application, have been interviewed, and accepted, move to the next step. If not, contact the admissions department at 1-888-693-8579.
STEP TWO. The next step is to place your deposit of $350.00 to secure a seat in a class. You will be emailed enrollment instructions upon acceptance. We accept Pay Pal, Visa, MasterCard, Discover, or Visa debit card. If a credit card is not available you may send a personal check, money order or cashier’s check to 1205 North Fiesta Blvd. Gilbert, AZ. 85233. Once a deposit has been received you will be assigned a start date and the Student Financial Services department can begin the process of determining your financial options and eligibility.
STEP THREE. Find out what kind of financial aid you qualify for by completing the Free Application for Federal Student Aid, also known as the FAFSA. Use the Conservatory's title IV code (030344). Click on the banner
Once the Conservatory receives your federal aid application a student financial planner will contact you regarding your eligibility. If you have any questions, you may contact the Student Financial Services department at 1-888-693-8579.
STEP FOUR. Utilize the student loan comparison link below to research and apply for the appropriate loans necessary to attend.
Student Loan Comparison Application
STEP FIVE. Students who choose to set up a monthly cash payment must utilize the e Cashier (formerly FACTS Management) program linked below.
Click here to set-up monthly tuition payments from your checking or savings account.
For any questions regarding this process, please contact the student services department at 1-888-693-8579.
Standard Eligibility Examples for the 2010/2011 FAFSA
The intent of this information is to give basic scenarios of how aid may be applied towards tuition. All federal aid is contingent upon a completed and valid FAFSA application as well as meeting all eligibility requirements. To determine eligibility complete the FAFSA. Below are examples of standard eligibility.
Maximum Federal Aid Eligibility for Master Recording Program II
(Includes both Academic Years, fees charged by lenders will be added to balance due.)
Maximum Pell Grant for 2010/2011: $5,550
Dependent Student Eligibility:
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With Maximum Pell Grant $4,625 Subsidized Stafford $2,500 Unsubsidized Stafford $5,550 Pell Grant* $ Plus Loan** |
Without Pell Grant $4,625 Subsidized $2,500 Unsubsidized Stafford $ Plus Loan** |
*Pell Grants do not have to be paid back; they are awarded based on financial need
**Parent PLUS loans are available to eligible borrowers to assist with tuition payment and if approved, the balance may be fully covered (must reapply for second academic year funding).
Visit www.fafsa.ed.gov to determine dependency status.
Visit www.fafsa.ed.gov to determine dependency status.
Independent Student Eligibility:
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With Maximum Pell Grant $4,625 Subsidized Stafford $7,500 Unsubsidized Stafford $5,550 Pell Grant* |
Without Pell Grant $4,625 Subsidized Stafford $7,500 Unsubsidized Stafford |
*Pell Grants do not have to be paid back; they are awarded based on financial need
-All Loans must be repaid. Stafford Loans are not based on credit and have a standard 10 year repayment term.
-The Conservatory’s Master Recording Program II spans two Academic Years, which dictates how Federal Aid is earned and applied towards tuition charges.
-Students are required to pass all classes to maintain full Federal Aid eligibility.
Additional options include:
Private Educational loans are available to eligible borrowers who meet lender requirements. Students may seek and apply for private educational loans to cover their balance.
An interest free payment plan is available upon request.
In addition to Federal Financial aid many other types of aid are available. Students are encouraged to search for scholarships online and through their community to assist in tuition payment.
Scholarships are forms of aid to help students pay for a portion of their education. Scholarship research should be completed well in advance of your start date. Below is a list to help you get started.
Scholarship Resource List
Arizona Community Foundation - www.azfoundation.org/scholarships
College Board Online - www.collegeboard.org
CollegeNet - www.collegenet.com
Embark - www.embark.com
FinAid - www.finaid.com
FreSch! - www.freschinfo.com
GoCollege - www.gocollege.com
Southwest Student Services - www.sssc.com or call 800-367-2369
U.S. News and World Report - www.usnews.com/usnews/home.htm
The Warrior Foundation (grants for children of US special operations forces killed in action) - www.specialops.org
America’s Best College Scholarships, John Cueller & Sons, March 1998
Peterson’s College Money Handbook: The Only Complete Guide to Scholarships, Costs, and Financial Aid at U.S. Colleges, Peterson’s Guides, Princeton NJ, 1998
Scholarships, Fellowships, Grants and Loans (College Blue Book), Macmillian Publishing Company, September 1998
Winning Scholarships for College, Marianne Ragins, Henry Holt and Company, August 1998
Other Resources
Scholarship References - Click here to view the PDF
State Higher Education Agencies
These agencies provide information on state student aid assistance programs, grants, scholarships, and other educational related programs. For information you can search the U.S Department of Education’s database.
