Financial Aid

Paying for your business management or other program can be a difficult task. Many of our students use financial aid to help with their college costs. Our friendly Financial Aid staff will assist you through the financial aid application process. We've helped many students just like you, whether you’re currently considering a business management program, interior design training or other career goals. Financial Aid is available for those who qualify.

Steps to Get Started

Congratulations on your decision to pursue your educational goals!  The next question for many students revolves around what financial aid options are available.  It really is true that help is out there and here are three easy steps to get started:

Step 1 - Apply for your PIN
You will need a PIN to “electronically sign” the FAFSA-on-the-Web (the Free Application for Federal Student Aid) and you can use your PIN each year when you apply Your PIN will also give you access to your personal information in the U.S. Department of Education system. .  If you are dependent for aid purposes, one of your parents will also need a PIN.

Step 2 - Complete the FAFSA-On-the-Web
To apply for federal student aid and many state student aid programs, students must first complete the FAFSA. Go to the FAFSA-On-the-Web and complete the application. The information you provide will help determine aid eligibility for those who qualify. To complete the application for 2007-08, you will need:

• Your 2006 Tax Return or your W-2s, if you are not required to file taxes.
• Your Parents' 2006 Tax Return and other information regarding their untaxed income and assets. You will need your parent's information, IF:
• You were born on or after January 1, 1985,
• You are not married,
• You do not have children who receive more than ½ of their support from you,
• You do not have legal dependents (other than children) who live with you and  for whom you provide more than half of their support,
• You are not an orphan or ward of the court,
• You are not a veteran of the U.S. Armed Forces,
• You are not currently serving on active duty in the U.S. Armed Forces for purposed other than training.
• Your PIN (if your parents’ information is required on the FAFSA, they will need their PIN also).
• Brown’s FAFSA School Code:  007351

Step 3 Contact the school at (link to contact form) to arrange a meeting with a Tuition Planner.  After you have completed the FAFSA-on-the-Web we will receive your data in about a week. Then we will have what we need to determine your aid eligibility and provide you with a customized financial plan.

“How is my eligibility determined?”  The FAFSA-on-the-Web is processed by the Department of Education and will provide the school with a figure called an Expected Family Contribution or EFC.  The EFC is the amount that you theoretically can contribute toward your education.

The school will estimate the costs of your program and living expenses while you attend school. This is referred to as a Budget or Cost of Attendance.  This Budget includes both direct (tuition, books and fees) and indirect (room, board, transportation and personal expenses) costs. The school will use these figures to calculate your estimated financial aid eligibility.

Some records are selected for “verification” by the Department of Education. If selected the school must review the data provided. If your application is selected, we will ask for additional information from you and your family, such as, W-2s, tax returns and verification of household information.  Data matches are also preformed with other federal agencies, if your file is selected by one of these matches you may be asked to provide additional information. 

Frequently Asked Financial Aid Questions

17. What’s the difference between a Federal Stafford loan and a private loan?

1. A Federal Stafford loan is a low interest federal educational loan that does not require a credit check.  A private loan may have higher interest and fees which are determined by the student’s, or co-borrower’s credit history.

17. How do I apply for federal financial aid?

1. The Free Application for Federal Student Aid, or FAFSA, is the single application needed to apply for all sources of federal aid.  The FAFSA can be completed online at www.fafsa.ed.gov.  It helps to complete the FAFSA with a PIN (electronic signature) to expedite the process.  A PIN can be obtained by visiting www.pin.ed.gov.

17. Where can I find tuition and fee information?

1. Students should contact the Admissions Office at the school to find out information regarding tuition and fees.

17. What is financial aid? 

1. Financial aid refers to federal, state and private resources that may help pay for college costs. Typically financial aid consists of grants, scholarships, loans and student employment.  Grants and scholarships do not have to be repaid.  Loans must be repaid with payments usually beginning after the student is no longer enrolled at least half time.  Student employment consists of opportunities for students to earn money to pay for educational expenses.

17. When do I have to repay my loans?

1. Repayment on most student loans will begin after the student is no longer enrolled at least half time.  Some the subsidized Federal Stafford Loans do not accrue interest while the student is enrolled at least half time.  Interest may accrue on other loans even while the student is enrolled.  Check with the financial aid office, they can help explain the differences in the types of loans.  In all cases, loans must be repaid regardless of whether you complete the program or are satisfied with your educational experience.  Failure to repay your loans can result in serious consequences and negatively impact your ability to obtain credit in the future.

17. Why do I have to provide parent information on my FAFSA?

1. Students are considered dependent or independent for financial aid purposes based on criteria established by Congress.  Parents of dependent students must provide their financial information in order to determine eligibility for the various federal aid programs.  Check with your financial aid office to determine your dependency status if you are unsure.

17. Why would a parent borrow from a Federal PLUS loan instead of a co-signing on a private loan in the student’s name?

1. Federal PLUS loans are federal loans with lower interest rates than many private loans.  Parents who co-sign on a private loan are just as responsible for repaying the loan (usually at higher rates).  In other words, whether the parent borrows from a Federal PLUS loan or co-signs for a private loan, their financial responsibility is the same.

17. How often to I have to reapply for aid?

1. Students must reapply for federal and state aid each award year.  Typically, students should reapply for aid as soon as possible after January 1st; however, check with your financial aid office to determine if there are other deadline dates that affect you.

17. What is a PIN?

1. A PIN is a Personal Identification Number that can be used as an electronic signature.  It makes filing for aid quick and easy.  PINs are private and should never be shared with anyone. 

17. What’s the difference between a grant and a loan?

1. A grant is free money that does not have to be repaid.  Loans must always be repaid regardless of whether you complete the program or are satisfied with your educational experience.  Failure to repay your loans can result in serious consequences and negatively impact your ability to obtain credit in the future.

17. What forms or other information do I need?

1. Students (and parents of dependent students) will refer to their most recent tax return (1040) when applying for financial aid.  Documentation on other sources of income including social security benefits, unemployment compensation and veteran’s benefits, etc., will be needed.  Information on the value of assets is also required.  Examples of assets include checking and savings accounts, stocks, bonds, certificates of deposits, mutual funds, real estate (other than the family home), businesses and farms.

17. My parents make too much money for me to receive financial aid.  What options are available to me?

1. Regardless of how much money you or your parents make, you should still apply for federal aid.  Some sources of federal aid are not need based which means you or your parents may qualify regardless of income.

17. How can I apply for scholarships?

1. There are several free scholarship search websites. Researching and applying can be time consuming, but may be worth your time, if you find extra funding.  Do not use agencies that charge fees, you can do this search on your own and free of charge.  For a listing of scholarships websites, contact your financial aid office.

Please feel free to contact us if you have any questions.

Learn More
Visit Brown College - near Minneapolis/St. Paul, Minnesota - if you're considering a business management program, visual communications programs, interior design program, bachelor’s degree in communication studies, broadcasting training and more.

Click here to learn more about the financial aid options available (for those who qualify) to help you finance your education. This presentation will also show you the information you will need to get started on completing the Free Application for Federal Student Aid (FAFSA).