Federal Pell Grant:

Pell grants are offered through the Federal Government.  These are free grants and do not have to be repaid unless you withdraw from school and owe a pro-rated refund. Pell grants are offered to students who have not earned a Bachelor’s degree and demonstrate financial need.  You may be eligible for a Federal Pell Grant up to $4,008.  The Culinary Management Program (CMD) is not Pell eligible. Students wishing to apply must complete the Free Application for Federal Student Aid (FAFSA). Click here to access FAFSA.

What you may need to refer to when applying:  

• Your Social Security Card

• Your valid Driver’s License or state ID

• Your alien registration card or Permanent Resident Card

  • (if you are not a U.S. citizen)  – both sides

• Proof of U.S. citizenship if you are a naturalized citizen

• Your previous year’s W-2 Forms and other records of money earned and /or received (social security benefits, disability, pension, etc.)

• Your (and your spouse’s, if married) signed previous year’s Federal Income Tax Return

  • IRS 1040, 1040A, 1040EZ

  • Foreign Tax Return

• Two different contact references, with valid addresses and telephone numbers

*Dependent students born on or after January 1, 1987 will need to bring their parent to ICE    when applying, as well as their Parent’s proper documents

Federal Stafford Loans

William D. Ford Federal Direct Loan: Student loans, unlike grants, must be repaid with interest. You may borrow up to $6,861.

1. Subsidized Stafford: Fixed rate of 4.5%, the government pays the interest while the student is in school, up until six months after the student graduates or stops attending and during deferment periods (postponement of loan payment). The student has between 10 and 25 years to repay depending on the loan amount. The lender is the Department of Education
2. Unsubsidized Stafford: Fixed rate of 6.8%, the student is responsible for paying the interest while they are in school and during the deferment period. Unpaid interest is accrued and capitalized. Any unpaid interest is added to the principal of the loan and will be billed once the loan goes into repayment. The lender is the Department of Education.

Learn how to apply here.

What you may need to refer to when applying:  

• Your Social Security Card

• Your valid Driver’s License or state ID

• Your alien registration card or Permanent Resident Card

  • (if you are not a U.S. citizen)  – both sides

• Proof of U.S. citizenship if you are a naturalized citizen

• Your previous year’s W-2 Forms and other records of money earned and /or received (social security benefits, disability, pension, etc.)

• Your (and your spouse’s, if married) signed previous year’s Federal Income Tax Return

  • IRS 1040, 1040A, 1040EZ

  • Foreign Tax Return

• Two different contact references, with valid addresses and telephone numbers

*Dependent students born on or after January 1, 1987 will need to bring their parent to ICE    when applying, as well as their Parent’s proper documents

Federal Direct PLUS Loan:

Parents of dependent students can borrow from the PLUS Loan Program on behalf of the dependent.  The parent should not have an adverse credit history, and if so, may warrant an endorser.  There is a fixed rate of 7.9%.  Repayment of the Plus loan begins on the date of the last disbursement.  Parent PLUS Loans disbursed after July 1, 2008, have the option of delaying their repayment on the PLUS loan either 60 days after the loan is fully disbursed or 6 months after the dependent student is not enrolled.  During this time interest may be paid or accrued and capitalized. The lender is the Department of Education.

• Your Parents’ Social Security Card

• Your Parents’ valid Driver’s License or state ID

• Your Parents’ alien registration card or Permanent Resident Card

  • (if you are not a U.S. citizen)  – both sides

• Your Parents’ Proof of U.S. citizenship if you are a naturalized citizen

Private Student Loans

Career Training Smart Option Loan: The Smart Option Student Loan is a private, credit based student loan. This loan helps students save money, build good credit and pay off their student loan debt faster. Students who apply with a creditworthy co-signer benefit from low interest rates. Interest rates vary and are reset on a monthly basis. Borrowers may apply for a co-signer release upon successful completion of their program. Monthly interest only payments are required during the in school period and during the six month grace period. Both interest and principal are due following the six month grace period.Students may receive 2% of their scheduled monthly payment as a reward when you pay on time. This benefit will be available for loans first disbursed on or after June 1, 2010.

What you may need to refer to when applying:

• Your Social Security Card

• Your valid Driver’s License or state ID

• Your alien registration card or Permanent Resident Card

  • (if you are not a U.S. citizen)  – both sides

• Two different contact references, with valid addresses and telephone numbers

*In most cases, federal loans have better terms and conditions than private student loans, so consider that option first. Nonetheless, private student loans are very helpful in filling the gaps

State-Funded Loans:

Payment Plan:

Students who intend to pay by check or credit card for their balance owed can do so with a payment plan. The student is required to put 10% down to reserve their seat. The balance due must be paid 30 days prior to the start of the student's externship (Culinary Arts and Pastry & Baking Arts) or 30 days prior to the end of their Culinary Management program. To learn more, please contact us.

• Your Social Security Card

• Your valid Driver’s License or state ID

* Consider funds from your 529 savings plan when choosing a payment plan for your education. Certain tax benefits may be available to you.

TuitionFlex Program:

When all else fails, there is another alternative… After you have exhausted all potential scholarships, federal grants, federal loans, private student loans, and state funded loans you may want to consider The TuitionFlex Program to cover the balance of your tuition. It is an extended payment plan with interest ranging between 9.25-12.25% for Hospitality, Culinary Management, Culinary Arts, and Pastry and Baking Arts. The interest rate is based on credit score and repayment time is 5 or 10 years. There is a non refundable 2% fee (up to $250.00) to the amount being financed when applying. Contact the ICE office of Financial Aid for more information on how to submit an application.

The ICE Culinary Management Loan:

You may eligible for The ICE Culinary Management Loan. This loan is available to ICE Culinary Management students and may be used on top of ICES's 20% double-diploma discount. There is a down payment of $1,000 required. It is based on a 7 year term at 7% interest. Contact the ICE office of Financial Aid for more information on how to submit an application.

Return to Title IV (R2T4):

Who is Affected?
Federal Financial Aid recipients, who withdraw, drop or fail their courses before completing more than 60% of their term are subject to repayment of some of their federal aid* they received.

Determination of Withdrawal
The Date of Withdrawal is based on the official records of the school in accordance with federal regulations. The federal repayment calculation is called R2T4 (Return to Title IV) and the amount to be repaid is based on a comparison of the amount the student actually received in federal aid to the length of time enrolled for the term. If a student stays enrolled for more than 60% of the term then the student is considered to have earned all of the aid received.

Repaying the Debt
You will be notified if you are required to repay a portion of your aid and will have 45 days to repay in full. If the amount owed is not repaid within those 45 days the debt will be referred to the U.S. Department of Education, and you will not be eligible to receive any additional federal financial aid at any school until the amount due is repaid in full, or satisfactory payment have been made with the U.S. Department of Education.

* Consider funds from your 529 savings plan when choosing a payment plan for your education. Certain tax benefits may be available to you.

*Financial Aid is available to all those that qualify