Tuition Payment Policy and Financial Aid

Tuition Payment Policy

St. Francis Career College (SFCC) tuition and fees for all programs may be satisfied with payment by money order, debit or credit card, or official scholarship or financial aid award letter.(Personal checks are accepted only after a good payment record has been established at SFCC.) Cash payment for tuition and fees will only be accepted when paid in person with Student Services. SFCC tuition payment policy is subject to change at any time at the discretion of the SFMC administration and SFCC. Prospective students have five (5) options available for the payment of the tuition and fees. These options are described as follows:

Option 1. Full Payment by the Student

Full payment of the tuition and fees will be made at the time of registration.

Option 2. Installment Payment by the Student

This option requires different payment plans based on the students’ program of choice.

Short Term Programs:
Less than (<) $900 of tuition and fees: Payment in full upon registation.
Greater than (>) $900 of tuition and fees: A twelve (12) month payment plan begins upon signing of the enrollment agreement.
Core Term Programs:
20% payment upon registration
70% payment while attending SFCC
10% payment 1 year after completion with 4 months grace period —interest free

Option 3. Direct Payment by the Student’s Employer

The student will not be required to make payment at registration time if a letter from the employer is submitted upon registration. The letter from the employer (Letter of Commitment) or the voucher must indicate that the employer will remit payment of tuition and fees to SFCC upon receipt of the invoice from SFMC accounts receivable office.

Option 4. Tuition reimbursement by the Student’s Employer

If a student submits a letter from their employer at registration time that indicates eligibility for tuition reimbursement, the student may choose a payment plan as described in Option 2. The letter from the employer must indicate that the employee will pay SFCC directly.

Option 5. Financial Aid, State Aid and/or Scholarship Award

LONG term program

Students who have applied for financial aid, submitted all the required paperwork must sign an internal document with the Financial Aid Coordinator that establishes eligibility. Since financial aid may not cover a student’s entire cost of tuition and fees, a student may elect one of the following plans to resolve the gap funding (uncovered balance of tuition and fees):

A. Full Payment of gap funding at the time of registration.

B. Students must exhaust all available Title IV eligible funding source(s) before having the following gap payment option listed below may be selected:

20% payment of gap funding upon registration
70% payment of gap funding while attending SFCC
10% payment of gap funding 1 year after completion with 4 months grace period — interest free

C. Gap funding paid over a designated timeframe based on uncovered balance with first payment beginning on start date.

$20,000 or greater - 60 months
$15,000 to $19,999 - 48 months
$10,000 to $14,999 - 36 months
$5,000 to $9,999 - 24 months
Less than $5,000 - 9 months

All Categories may be extended for up to an additional 17 months.

Financial Aid Policy and Programs

St. Francis Career College utilizes a Third Party Servicer" to process federal financial aid for students while adhering to all federal, state, accreditation agencies and institutional requirements. The third party servicer, Weber & Associates, maintains a virtual financial aid office via the website; https://stfranciscareercollege.vfao.com. Students are required to log onto the website in order to initiate the financial aid process. Once a student begins the financial aid process, the student will be able to track his/her financial aid process. Communication of missing documentations will be primarily perfomed via e-mail. Students are therefore encouraged to utilize an e-mail address, which will be checked on a regular basis to monitor their financial aid funding process. St. Francis Career College staff will continue to be available to assist current and prospective students.

Some functions of the financial aid process will be maintained by St. Francis Career College staff; i.e., Cal Grants, veterans' benefits, private loans, and other aid that becomes available. Students are encouraged to seek tuition assistance from other possible sources; i.e., private agencies, community grants, etc.

financial aid programs

A. Federal Pell Grant

B. Federal Supplemental Educational Opportunity Grant (FSEOG)

C. Cal Grants

D. Federal Loan Programs:

Subsidized: for Students with demonstrated financial need, as determined by federal regulations. No interest is charged while a student is in school at least half of the time, during the grace period and during deferment periods.
Unsubsidized: not based on financial need; interest is charged during all periods, even during the time a student is in school and during grace and deferment periods. A student may elect to make periodic interest payments, or have the loan capitalized.
PLUS: unsubsidized loans for the parents of dependent students. PLUS loans help pay for eduational expenses up to the cost of attendance minus all other financial assistance. Interest is charged during this period.

E. Alternative Loans