COST + AID
Frequently asked questions
Yes, you are required to begin making payments 6 months after you graduate, withdraw, or enroll less than half-time. However, there are circumstances where your payments could be on forbearance or deferment, such as continuing your education and enrolling half-time or more.
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 principal begins six months after you graduate, leave school or drop below half-time enrollment.
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 principal amount of the loan), you will increase the total amount you must pay back after you graduate or drop below half-time enrollment.
No, borrow only what you need to meet your educational costs.
You can repay your loan to your servicer at any time, without penalty. Contact the Financial Aid Office if you want to cancel all or part of the loan during the school year.
Yes, you may want to consider payment plans offered through the Crown Billing Office. For more information about the payment plans, call the Billing Office at 952-446-4126 or send an email to firstname.lastname@example.org.
The Free Application for Federal Student Aid (FAFSA) is an application to determine eligibility for state and federal aid. Crown recommends that all students complete the FAFSA as part of the financial aid process.
There are many scholarships available at Crown. Academic Scholarships are currently based on your high school or college GPA. The Academic Scholarship is renewable for up to four years. The student must maintain a 2.0 GPA. View our scholarship page for more information.
Verification is the process your school uses to confirm that the data reported on your FAFSA form is accurate. Students selected for verification will be notified by the Department of Education and/or Crown College. Federal and state funds cannot be disbursed until all documents are submitted.
Around 18% of all FAFSA are chosen for verification.
The Financial Aid Office will inform you if you have been chosen for verification. An email will be sent listing the documents that will be needed to complete the verification process.
You can complete a Special Circumstances form that will allow the Financial Aid Office to review your FAFSA to see if you would be eligible for any additional financial aid.
You can find this form on crown.edu/finaidforms.
For reporting purposes, “parent” means your legal (biological or adoptive) parent or step-parent, or a person that the state has determined to be your legal parent.
A parent’s filing status does not determine a student’s dependency status. Your answers to questions on the FAFSA form determine whether you are considered a dependent or independent student.
Yes, there is someone available to help you. Visit https://crown.edu/veterans/ for more information.
Post-Secondary Enrollment Options – Dual credits for high school students, also known as Early College
No, students do not qualify for Federal Student Aid until they have graduated from high school.
Financial Aid is disbursed after a student’s financial aid file is complete. A student must be eligible for aid at the time of disbursement and for loans, registered at least half-time. Disbursement is typically within 30 days of the beginning of a student’s first class. Refunds are issued when disbursement of all funds are credited to the students’ account and it creates an overage.
Yes, a student that has a credit on their account can receive a refund in the form of a direct deposit, a loaded credit card, or a check.
In order to be eligible for Federal funds a student must complete a FAFSA. All students taking out a Federal Direct Loan for the first time at Crown are required to complete a Loan Agreement (MPN), Loan Entrance Counseling, and the Annual Student Loan Acknowledgement.
These requirements may be completed on https://studentaid.gov
There are multiple ways to cover the remaining balance you may have for school. You can pay by cash, credit card, check, or sign up for a payment plan. There are also additional loan options students and families can look into such as the Federal Direct Parent PLUS Loan or Private Alternative Loans (Sallie Mae, Discover, Thrivent, MN SELF loan or Citizen’s bank). Visit crown.edu/loans for more info.