Monthly Payment Plan
CalArts offers an option to pay your direct charges over the course of a few months. Students can enroll in a monthly payment plan and their payments will be automatically withdrawn each month. To learn more about monthly payment plans and the dates to enroll by, please see the bottom of the page on this link.
Federal PLUS Loans
Consider financing using the Federal Direct Parent PLUS loan (for Dependent BFA students) or a Federal Direct Graduate PLUS Loan (for graduate students). We recommend that you carefully consider the amount that is feasible for you and your family to borrow annually to assist with educational expenses that are not met by your financial aid award or other resources. A family/student should consider the addition of the monthly PLUS payments to their current and future expenses. A family/student should also consider the maximum monthly loan payments if it would be necessary to borrow the same amount for the remainder of the student's tenure at CalArts. Federal Student Aid provides a calculator to assist borrowers in determining their borrowing capacity and calculate monthly PLUS Loan repayment. Receipt of this loan is contingent on the approval of a Federal Parent Plus Loan application, which includes a credit check. The federal credit check process will check for adverse credit history, if a parent is denied they have a few options - parents can appeal the decision with the Department of Education, the parent borrower can also add an endorser (co-signer) to their loan. Plus Loans can be borrowed for up to the cost of attendance, minus any other financial aid the student is receiving. Plus loans must be repaid by the parent borrower. More information about eligibility, interest rates, repayment and how to apply for Parent PLUS Loans can be viewed here.
Private Education Loans
Students can also apply for a private student loan to help cover their balance. Contingent upon application approval from a bank, credit union or higher education lender, students can apply for loans up to the cost of attendance minus any other financial aid the student is receiving. For more information on this type of loan and to view common lenders who our students have borrowed with in the past please click here.
Scholarships are available from many sources including high schools, places of worship, civic groups, and employers. We recommend that you check with your high school guidance or college counselor, the reference section of your library, and organizations in your hometown. One of the best ways to find scholarships to apply for is by using a scholarship search engine. We recommend using one of the search engines listed at the top of this link. Receipt of outside scholarships could affect your eligibility for certain aid types and cannot exceed the total cost of attendance in a given academic year.