GENERAL
Q: What is Crown’s Title IV School Code?
A: 002383
Q: How do I apply for Financial Aid?
A: To apply for federal and state financial aid you need to complete the FAFSA (Free Application for Federal Student Aid) online at www.fafsa.ed.gov. Undergraduate students in the Day program also need to complete the Crown College Financial Aid Application which can be printed from our website under Applications and Forms.
Q: How do I receive a PIN number?
A: You can apply for a PIN at www.pin.ed.gov. For dependent students, one parent should also apply for a PIN.
LOANS
Q: What is the difference between subsidized and unsubsidized Stafford Loans?
A: A subsidized loan is based on financial need. The federal government will pay the interest on a subsidized loan through your enrollment period in school and through the grace period. An unsubsidized loan is not based on financial need. You must either pay the interest monthly/quarterly, or have the interest capitalized (added to the principal loan amount). Repayment of the interest and principle begins six months after you graduate, leave school, or drop below half-time enrollment. The interest rate is 6 percent for loans first disbursed July 1, 2008 to July 1, 2009.
Q: When will aid be posted (disbursed) to my account?
A: When your financial aid file is complete, grants will be posted to your account approximately 30 days after the first day of classes. Loans will be posted halfway through the semester. Federal loans for only one semester will be posted in two disbursements per semester.
Q: Should I be paying my interest on an unsubsidized student loan while in school?
A: If you can pay the interest while in school, you will repay less in the long run. If you choose to capitalize the interest (having the interest added to the principle amount of the loan), you will increase the total amount you must pay back after you graduate or drop below half-time enrollment.
Q: Do I have to borrow the entire amount of loan on my Award Letter?
A: No, borrow only what you need to meet your educational costs. Simply write on your Initial Award Letter copy the total amount you wish to borrow for the academic year.
Q: What if I borrow the loan and later on find out I don’t need the loan?
A: The loans are flexible. You may cancel part or all of a loan any time during the school year.
Q: If I do not want to borrow an educational loan at this time, is there another option for financing my college costs?
A: Yes, you may want to consider Tuition Management Systems. For more information about this payment plan, go to www.afford.com or call the Crown Student Billing Office at 952-446-4126.
AGS students can set up a monthly payment plan by contacting the Crown Student Billing Office at 952-446-4126.
SCHOLARSHIPS
Q: Where can I find out about scholarships?
A: Check with local businesses, parents’ employer(s), on-line (www.fastweb.com), your home church, or library.
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