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Here, we’ve outlined the main financial aid sources available from federal and alternative loan programs, veterans' benefits and vocational rehabilitation.
Federal Programs
Pell Grant
If you have not yet earned a bachelor’s degree, you may be eligible for a Federal Pell Grant up to $2,299. This grant is awarded to students who display a financial need as determined by the U.S. Department of Education. A confirmed Pell Grant is then credited to your FCI student account in two equal installments. Unlike loans, Pell Grants do not need to be repaid.
Federal loan programs may be applied only toward the following career courses: Classic Culinary Arts, Classic Pastry Arts, and The Art of International Bread Baking.
Stafford Loans
These fixed rate, low interest loans are available to students attending accredited schools at least half time. You may borrow up to $4,417. Loan proceeds are disbursed in two equal installments and credited to your FCI student account. Following are a number of benefits that the Stafford Loans offer:
- Repayment begins six months after graduation or withdrawal from school
- Subsidized and Unsubsidized Stafford Loans are available
- Government pays for the interest on the Subsidized Stafford Loan while you're attending school
- Low fixed interest rate of 6.80%
- $50 minimum monthly payment
- 10 year repayment period
PLUS Loan
The Federal PLUS Loan (Parent Loan for Undergraduate Students) is an affordable, low-interest loan designed for parents of dependent students only. With the PLUS Loan, parents can borrow their child's total cost of education minus other financial aid awarded to the student. This total cost can include tuition, books, food, housing, transportation, and more. The PLUS Loan offers the following great benefits:
- Covers 100% of education costs
- No income or asset requirements
- Pre-approval in minutes
- Fixed interest rate of 8.50%
- Flexible repayment options including zero payments for up to four years
For more information and an application, go to www.parentanswer.com or call 800-891-1410.
Learn how to apply for Federal Aid.
Alternative Loan Programs
The following loan programs are based on special relationships that The FCI has with outside financing companies.
Signature Student Loan
This loan opportunity offers competitive rates with no income requirements and no payments while attending school. Interest rates are variable and based on the Prime Rate. The better your credit and your co-signer’s credit the lower your interest rate will be. Interest rates are as low as Prime - .25%. Easy, secure online applications with immediate credit decision and electronic signature. Click here for more information.
Career Training Loan
Finances the entire cost of culinary or pastry arts school. Eligibility requires that you or your co-borrower maintain a good credit rating, be currently employed, have monthly equity 20% greater than monthly debt and be a U.S. citizen or permanent resident. Repayment can be made over 20 years at the prime rate plus 1% - 6%. Click here for more information.
NJCLASS Loan
A newly created loan for New Jersey residents offering one of the most affordable and flexible student loan programs in the nation. Allows students or parents to finance the cost of attendance, minus other financial aid awarded to the student. The NJCLASS loan offers the following great benefits:
- Offers a fixed rate of 7.92% or lower
- 20-year repayment terms
- Parents are eligible to borrow, in combination with PLUS loans
- Students or co-signers may be eligible, even if you’ve applied to other loans in the past
- Can be used in combination with other financial aid and scholarships
For more information, contact our Financial Aid department at 1.888.FCI.CHEF or finaid@frenchculinary.com.
Learn how to apply for Alternative Loans.
Veterans’ Benefits
Veterans, and surviving family members of veterans whose deaths or disabilities were service connected, are eligible for educational benefits while attending the FCI. Forms and information are available at all Veterans’ Administration offices or at www.va.gov. If you are eligible, please fill out the form below.
Vocational Rehabilitation
If you have a disability, you may be offered assistance by your state’s Department of Vocational Rehabilitation, depending on the state’s criteria. If this applies to you, please have your rehabilitation counselor contact The FCI’s Office of Financial Aid.
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