Financial Aid

Funding your potential.

A college education is an investment in your future, especially at Central Penn College, where we prepare you to pursue a real world career right after you graduate. Our students come from diverse economic backgrounds. That's why we have a diverse offering of financial aid programs that help take the stress out of paying for college, and let you focus on achieving academic excellence.

Financial aid is available to both a traditional high school students and adults in our continuing education program who qualify. Let our knowledgeable Financial Aid staff provide you with information and answer your questions. They can help you search for scholarships and grants, apply for aid, and fill out forms.

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Types of Financial Aid

Regardless of your financial status, Central Penn's Financial Aid Office can help qualifying students explore resources and secure funding for your education. There are many financial aid programs available, including:

Grants
Loans
Scholarships for new students, current students and continuing education students
Federal Work Study

Central Penn's Federal School Code for FAFSA is 004890.

Tuition & Fees

The simple truth is that there is a big difference between the price of a college education and what students or their parents will actually pay out of pocket. Many Central Penn students receive some form of financial assistance.

For a more complete illustration of what a Central Penn College education will cost you after financial aid, please use our Net Price Calculator.

Costs for 2013 - 2014

Tuition Costs Per Term - Effective Summer 2013 unless otherwise noted

$427 per credit

15 Credits - $6405
13 Credits - $5551
12 Credits - $5124
10 Credits - $4270
9 Credits - $3843
7 Credits - $2989
6 Credits - $2562
3 Credits - $1281

Student/Technology Fee Per Term - Effective Summer 2013 unless otherwise noted

Student/Technology Fee (5 or more credits) - $265
Student/Technology Fee (4 or less credits*) - $162

*some zero credit classes may have a student fee

Program Specific Fees Per Term - Effective Summer 2013 unless otherwise noted

Physical Therapist Assistant Program/Laboratory Fee - $130
Occupational Therapy Assistant Program/Laboratory Fee - $130
Medical Assistant Program/Laboratory Fee - $105
Certified Medical Assistant Exam Fee (final term only) - $125

Housing and Board Per Term - Effective Summer 2013 unless otherwise noted

Townhouse - single occupancy/double occupancy - $2040/$1500
Apartment - $1420
Board Option 1 - $380
Board Option 2 - $480
Board Option 3 - $580
Cable TV/Internet/Utilities - $320

For a more complete illustration of what a Central Penn College education will cost you after financial aid, please use our Net Price Calculator.

How to apply for Financial Aid (Summer 2013 and beyond)

Please use our step-by-step guide, available here.

Tuition Bill Schedule

Winter 2014

Bills are mailed November 22, 2013
Bills are due December 13, 2013 (if paying after due date, include an extra $50 as a late fee)

Spring 2013

Bills are mailed February 22, 2013
Bills are due March 15, 2013 (if paying after due date, include an extra $50 as a late fee)

Summer 2013

Bills are mailed May 24, 2013
Bills are due June 14, 2013 (if paying after due date, include an extra $50 as a late fee)

Fall 2013

Bills are mailed August 23 2013
Bills are due September 13 2013 (if paying after due date, include an extra $50 as a late fee)

How to Pay Your Tuition Bill

You can pay your bill in any of the following methods:

Pay in full with a check made payable to Central Penn*
Log into the CASHNet payment portal and make an electronic payment using American Express, Discover, MasterCard or an eCheck*
Use Central Penn's Payment Plan*
Apply for additional financial aid
Register for Employer Reimbursement

* Payments must be received by the stated due date or a late fee will apply.

Central Penn's Payment Plan

Central Penn has a short term three month payment plan. If you are interested in making payments on a tuition bill rather than securing a private loan, our payment plan may be your best bet. The plan divides the balance of the tuition owed by three payments.

Central Penn's payment plan is now being outsourced through CASHNet. This plan allows you to divide the balance due by three payments. There is a $35 non-refundable application fee that is paid with your first payment. This payment plan is based on one term/quarter. A new application must be completed for each term that you want to participate in the payment plan. Note: This payment option is non-interest bearing.

To enroll in this payment plan log into CASHNet and select payment plan. You will required to make your first payment upon enrollment. There will be a $30 late fee for any payment that is received after the due date.

For your convenience, payments can be made via credit/debit cards (American Express, Discover, MasterCard) or an eCheck from your checking or savings account. Please note that VISA credit/debit cards are not accepted. A convenience fee of 2.75 percent is charged with credit/debit cards. In order to avoid this, we recommend using the eCheck option from your checking or savings account.

All CASHNet transactions require ID# and a password.

Please note: Student who are using the payment plan to pay their bill must submit the first payment by the tuition bill due date to have the payments divided into three payments. Students who sign up for the payment plan after the tuition bill due date will have to pay their balance in two payments. One payment is due immediately and the other the following month.

Employer Reimbursement

Central Penn College is pleased to offer the Employer Reimbursement Tuition Agreement Plan for students who receive tuition/fee reimbursement from their employer. This agreement allows the student to defer the payment of their tuition/fee until the dates specified. This balance must be paid on the specified due date regardless of whether or not the student has received reimbursement from their employer. Any amount NOT covered by the employer's reimbursement policy is due in full on the billing due date or the remaining balance can be paid by applying for the Central Penn Payment Plan.

Employer Reimbursement Form Summer 2013 - Please follow all directions in steps 1 - 4 of this form.

Other Services

The Business Office, in conjunction with the Financial Aid Office, also offers these additional services to students. Should you have questions regarding the following, please feel free to contact us.

Issuing of student tuition bills
Disbursing of all financial aid (grants, loans, etc.).
Collection of student payments including tuition bills.
Issuing refund checks.
Check cashing up to $25 a day.
Management and collection of student loans and delinquent accounts.
Tax credit reporting for Hope and Lifetime Learning Scholarships.

Glossary of Financial Aid Terms

Academic Year

An academic year at Central Penn consists of three terms.

Bankruptcy

A legal action in which a person who is unable to meet their financial obligations is declared bankrupt by a decree of the court under Federal Bankruptcy Law. Federal student loans, however, cannot normally be discharged through bankruptcy.

Capitalization

The process of adding unpaid interest to the principal balance of a loan, rather than pay the interest when it is due. If the interest is capitalized it will increase the amount of the monthly payment during the repayment period. This applies to the unsubsidized Stafford loan and most private loans.

Consolidation

A loan program that enables a borrower to combine various loans with various interest rates or various lenders into a single loan with a more manageable repayment schedule. The repayment period is also extended.

Cost of Attendance

The total amount it will cost a student to attend a particular school. The cost of attendance usually includes direct costs (tuition, fees) and indirect costs (books and supplies). Financial aid resources cannot exceed the institution's established cost of attendance.

Default

Failure to repay a loan according to the terms agreed to when the student signed a promissory note. Default also may result from failure to submit requests for deferment or cancellation on time. The consequences of default are severe. The holder of your loan will likely take action to recover the money. The holder of your loan may report you to a credit agency, your wages may be garnished, and you may be liable for expenses incurred in collecting the loan. The U.S. Department of Education may ask the Internal Revenue Service to withhold your income tax refund and apply it toward the amount you owe and you will no longer be eligible to receive future federal financial aid. Postponement of repayment must be requested by the student and formally approved by the lender.

Deferments

Deferments can in some cases be granted for economic hardship or further study.

Disbursement

The release of loan funds.

Electronic Funds Transfer (EFT)

Method where funds that the student applied for are electronically transferred from the lender into the student's tuition account at the Business Office.

Expected Family Contribution (EFC)

The EFC is calculated using a needs analysis formula developed by Congressional Methodology, using information reported on the FAFSA. The figure is the total amount the student and family are expected to contribute to the student's education for the academic year. This figure is used to determine the student's eligibility for financial aid. The EFC is printed on the front page, top right hand corner of the Institutional Student Information Record (ISIR).

FAFSA (Free Application for Federal Student Aid)

The application for all federal financial aid. This form, developed by Congress, has to be completed each academic year by the student, in order to be eligible to receive financial aid.

Federal School Code

Central Penn's school code is 004890. This code must be included when completing a FAFSA.

Financial Aid Package

Federal and non-federal aid such as grants, loans, work study, and outside resources are combined in a "package" or a written notice of eligibility to help meet the student's need.

Financial Need

The difference between the cost of attendance and the estimated family contribution.

Forbearance

An arrangement whereby the lender may permit the temporary cessation of payments (principal and/or interest), or allow an extension of time for making payments, or accept smaller payments than were previously scheduled. Interest will accrue during forbearance.

Grace Period

The period between the time a borrower leaves school or, if in school, drops below half-time and the time he/she is obligated to begin repaying their loans. Depending on the type of loan, this is usually six months.

Grant

Type of award that does not need to be repaid. The award is usually based on merit and/or need.

Interest

A fee charged to the borrower for the privilege of using the lender's money. Interest is calculated as a percentage of the principal balance of the loan. The rate may be fixed (constant throughout the life of the loan) or variable (may change at specified times).

Institutional Student Information Record (ISIR)

The name for the electronic version of student aid reports delivered to schools by the FAFSA processors.

Lender

A financial institution that provides the funds for students to borrow in the form of educational loans.

Loan

Type of financial aid that must be repaid, with interest.

Master Promissory Note (MPN)

A promissory note is the legal agreement a student signs with a lender accepting student loan funds. The MPN states the terms and conditions of the loan, including repayment schedule, interest rate, deferment policy, and cancellations. The MPN is a simplified method of applying for and receiving Federal Stafford Loan funds.

Need-Based Financial Aid

Financial aid that relies upon financial need as the criterion for eligibility. Need is determined by subtracting the expected family contribution, via the FAFSA, from the institution's established cost of attendance.

Non Need-Based Financial Aid

Financial aid that does not require financial need as a criterion for eligibility.

Origination Fee

A fee charged by the lender for administration of some student loans. This fee is deducted from the loan prior to disbursement. Origination fees are charged as the loan is disbursed.

Principal

The amount of money borrowed, excluding interest.

Repayment Schedule

Discloses the borrower's total repayment obligations: monthly payment, interest rate, due dates, and length of time for repaying the loan.

Student Aid Report (SAR)

A form sent to the student after submitting the FAFSA to the federal processor.

Satisfactory Academic Progress

The academic progress standards are established by the institution and are required by the federal government. Students must meet these standards each year in order to receive financial aid funds.

Subsidized Stafford Loan

Students who demonstrate financial need may obtain the loan on a subsidized basis, which means no interest accrues on the loan while the borrower is in school at least half time.

Unsubsidized Stafford Loan

Students who do not demonstrate financial need may obtain the loan on an unsubsidized basis. Unsubsidized Stafford loan start accumulating interest from the day the money is disbursed. The interest may be capitalized as long as the student is attending school at least half-time.

Verification

A random federal review process established to confirm the accuracy of data previously submitted by the student to the Office of Financial Aid.

If you are outside of the 717 area code, please call our toll-free number at (800) 759-2727. You can also email the office at financialaid@centralpenn.edu.

Future Students - Contact a Financial Aid Planning Coordinator:

Kelly Fox	(717) 728-2246	Handles high school, transfer or adult day students
Bill Rhinier	(717) 728-2518	Handles Lancaster, Lehigh, McCann and students associated with our business outreach program
Marc Dessel	(717)728-2322	Handles Continuing Education and online students

Current Students - Contact the Financial Aid Office:

Kathy Shepard - Director of Financial Aid	(717) 728-2261
Lee Bray - Financial Aid Counselor	(717) 728-2253
Veronica Sponenberg - Financial Aid Counselor	(717) 728- 2368
Pam Malkemes - Financial Aid Counselor & VA Certifying Official	(717) 728-2281
Carolyn Wharton - Financial Aid Counselor	(717) 728-2491
Donna Booton - Business Office	(717) 728-2224
Jan Whitcomb - Business Office	(717) 728-2233

Other Services

Veterans Benefits

At Central Penn, we do not use GI Bill funds to cover your tuition. Since the money comes directly to you, you may use it to pay expenses which may include tuition and fees. Please use the following process to activate your GI Bill.

Complete the Central Penn Activation of Veteran's Benefits.
Once that information is received, the Financial Aid Office will submit it the first week of classes.
Please be aware that it will take up to three months before you get your first check.
If your plans change (withdrawal from school, withdrawal from a class, add a class, etc.)while a student at Central Penn, you must see the Financial Aid Office immediately.

If you have questions, please call or email the Financial Aid Office at (800) 759-2727 or financialaid@centralpenn.edu.

Vocational Rehabilitation (OVR)

OVR is the Pennsylvania Office of Vocational Rehabilitation, a State Agency that helps persons with disabilities help themselves prepare for, start and maintain a career. If you have a disability which causes you difficulty in getting or maintaining a career, you may qualify for OVR. You will want to contact your local OVR office to see if you qualify. The Harrisburg OVR Office is located on N 7th Street in Harrisburg - (800) 442-6352.

Financial Literacy 101

Learn about the importance of Financial Literacy through this presentation produced by the Financial Aid office and Americhoice Federal Credit Union.

Financial Aid

Funding your potential.

Financial Literacy 101

Important Documents

Types of Financial Aid Available