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Financial Aid

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Financial Aid

Our dedicated financial aid staff is here to guide you through the financial aid process and help you get the best value for your education. Below is helpful information for prospective students and their guardians about federal, state, and institutional funding opportunities to help you manage the cost of your education.

Getting Started

To be considered for any need-based financial aid (including student loans), you are required to complete the Free Application for Federal Student Aid (FAFSA).

Completing the FAFSA

Step 1: Create an FSA ID to electronically sign the FAFSA. The student and one parent will need their own FSA ID.

Step 2: Complete and submit your FAFSA at the FAFSA website. Compass College’s school code is: 041633.

If you have any questions when completing the application, you can contact the Federal Student Aid Information Center at 1-800-4-FED-AID (1-800-433-3243) or the Compass College Financial Aid Office at 616-988-1000.

Once the FAFSA is submitted, you and Compass College will receive a Student Aid Report (SAR) within 2-3 days. A member of the Compass College Financial Aid Office will be in contact with you regarding your options and any additional documents needed.

Types of Aid

The different fund sources range from need-based gift aid to student loans. Here is a list of the types of commonly used aid at Compass College:

Pell Grant

these are awarded automatically, usually based on need. Most grant eligibility is determined based on the information provided on the FAFSA. Grants are a form of gift aid and do not have to be repaid.

State Grants

These are awarded automatically, usually based on need. Most grant eligibility is determined based on the information provided on the FAFSA. Grants are a form of gift aid and do not have to be repaid. The deadline for grants from the State of Michigan is March 1 each year.

Application Grant

Student who apply by November 15 for the upcoming fall semester will be awarded a $350 grant toward their freshman year at Compass College.

Deposit Grants

Students who complete the admissions process, including submission of a signed enrollment agreement and the $150 scholarship, will be eligible for a grant in regards to the following dates:

  • Feb. 28 – $400
  • May 15 – $300
Visual Storytellers scholarship
The Visual Storytellers scholarship is a competitive scholarship awarded to high performing students each year. Students who are selected through the application process will receive $1,250 a year for up to 4 years at Compass College. Review the information below to understand how the process works.
 
Initial Criteria
  • Be accepted for the most immediate enrollment term
  • Have a GPA of 3.3 or Higher
Important Dates
  • Be accepted by 5/15/20
  • Complete scholarship application by 5/15/20
  • Recipients notified no later than 5/15/20
What The Application Covers
  • Self-Awareness
  • Future Ambitions
  • Community Involvement
  • Spiritual Engagement
  • Character Reference Information
  • Admissions Portfolio Submissions
Ongoing Eligibility Requirements*
  • Maintain a 3.3 GPA
  • Maintain frequent attendance at on-campus events
  • Maintain full-time enrollment
  • Maintain academic and ethical integrity according to the Compass College student handbook
*Any student in jeopardy of losing their Visual Storytellers scholarship will be notified of their lapse in criteria no later than 60 days prior to the start of a new academic year.
Loans

A loan is funding you can borrow that must be repaid once you either graduate or enroll in college less than half time. Lenders include the federal government or private lenders.

Military Benefits

Students who have served, are still serving, or have parents or a spouse who served in the United States military may be eligible for military education benefits.

Click here for additional information

Work Study

You may be able to help cover college expenses by taking advantage of the student job opportunity on campus or in the Grand Rapids area.

MAINTAINING ELIGIBILITY

To be eligible for Federal Student Aid you must meet Basic Eligibility Criteria as a continuing student, you must satisfy the following criteria to maintain Federal Student Aid eligibility:

  • Continue to meet basic eligibility criteria
  • Make Satisfactory Academic Progress (SAP)
  • Fill out the FAFSA each year

If any of the above criteria are not met, you will not be eligible to receive awarded disbursements.

MILITARY BENEFITS

Compass College of Cinematic Arts is honored to acknowledge the service and contributions made to our country by the members of our Armed Forces. It is our pleasure to serve veterans and military personnel by helping you further your education and transition into a career as a filmmaker. Compass College staff and faculty are committed to assisting you in receiving educational benefits through the U.S. Department of Veterans Affairs. We proudly accept the GI Bill®, and we are a member of the Yellow Ribbon Project. Learn more about enrolling at Compass College and activating your educational benefits by contacting our Admissions & Financial Aid Offices at 616.988.1000.