Auguste Escoffier School of Culinary Arts participates in a number of federally funded financial aid programs. You must meet the eligibility requirements of these programs in order to participate. The different types of financial aid available are:
Federal Grants:
Federal Pell Grant
Federal Pell Grants are free grants and do not have to be repaid unless you withdraw from school. These grants are offered to students who demonstrate financial need and desire to continue their education beyond high school. Every student is entitled to apply for a Federal Pell Grant.
Federal Supplemental Educational Opportunity Grant (FSEOG)
The FSEOG is a grant program that provides need-based grants to help undergraduate students with “exceptional need,” with priority given to students with Federal Pell Grant eligibility. The FSEOG does not need to be repaid. Due to limited funding, grants are awarded on a first-come, first-served basis each year.
Federal Student and Parent Loans:
Federal Direct Stafford Loan
Federal Direct Stafford Loans are low-interest loans for eligible students to help cover the cost of higher education. Eligible students borrow directly from the U.S. Department of Education at participating schools. Direct Stafford Loans include the following two types of loans:
- Subsidized Stafford Loan is need-based and the government pays (subsidizes) the interest while the student is in school. The student has 10 to 25 years to repay depending on the loan amount.
- Unsubsidized Stafford Loan is not based on need. The student is responsible for paying the interest while in school and during the deferment period. Students may choose to pay the interest while in school or allow it to accrue (added to the principal amount of the loan).
Federal Direct Stafford Loans, unlike grants, must be repaid with interest.
Federal PLUS Loan (Parent Loan for Undergraduate Students)
Parents of dependent undergraduate students can borrow from the William D. Ford Federal Direct Parent PLUS loan program on behalf of you. These loans are not based on need. Either or both parents may borrow from this program. A credit check is required. Repayment begins within 60 days of final disbursement of the loan; however, parents may request a deferment of payments.
Federal Work-Study Jobs:
Federal Work-Study
Federal Work-Study is a program designed to assist students with financial need by allowing them to work part-time while attending school. Positions may be on-campus, off-campus or community service related.
BankMobile Disbursements:
Stipends
At this time Escoffier delivers stipends to students who are eligible and participating in the Distance Learning Programs with BankMobile Disbursements, a technology solution, powered by BMTX, Inc. For more information on how to select a refund preference with BankMobile Disbursements contact the Financial Aid Office at 855-927-1068 Option 1 or visit this link: https://bankmobiledisbursements.com/refundchoices/. To view our third-party servicer contract for refund management, click here.
