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Financial Options for Your Tuition and Fees

We believe tech careers should be accessible to anyone with a dream and passion to pursue them. There are several options to manage your CompTIA Tech Career Academy (CTCA) tuition and fees:

  1. Grants (for qualifying students)
  2. Loans
  3. Self-Payment Plans
  4. Third-Party Funding

For a quick summary of our financial options, click on the video below

Grants

Many students who enroll in the IT-Ready Technical Support program have qualified for grants to significantly reduce the total cost of the program. CTCA offers two forms of grants. The first is a group of externally funded grants offered by generous sponsors. The second form is our own set of CompTIA Grants.

Grants help to subsidize the cost of a student’s tuition and fees. They are not loans. They do not need to be repaid by the student. The CompTIA Grants are subject to availability, and available funds will be awarded on a first-come, first-served basis until depleted. Those seeking financial assistance are encouraged to apply early to get the earliest possible notification.

 

Externally Sponsored Grants

CTCA's external sponsors, which may include federal and non-federal government agencies, as well as industry, foundation, and other funders, help to support our students. Qualifications for aid can vary depending on the funding organization’s requirements, but generally, students must be able to demonstrate financial need and/or be part of a historically underrepresented population in the tech industry, such as women, people of color, or veterans.

The first step is to apply for the program. While completing your application, you can indicate your interest in financial assistance. Once accepted into the program, you’ll get an email from a Financial Assistance Advisor to walk you through available financial assistance options. 

 

CompTIA Grants

Once any applicable externally funded grants from CTCA's sponsors are determined, CompTIA Grants then are made available to students who qualify in at least one of the following categories:

  • $1,000: Individuals who have been historically under-represented in the tech industry (Black/African American, Latinx, Native Americans and women), as noted by the  U.S. Equal Employment Opportunity Commission
  • $1,000: U.S. Armed Forces Active Duty/Veteran status, and/or their spouses.
  • Partial tuition/fees amount (50%): Annual income above 200% but below 300% of the federal poverty threshold.
  • Full tuition/fees amount: Annual income below 200% of the federal poverty threshold.

Grants may be stackable — allowing for two or more grants to be combined up to the full cost of the program. If a student requests financial assistance during the admissions process and they qualify for a full or partial grant, it is the student’s responsibility to obtain documentation required for the award 14 days prior to the start of class.

Applicants must be a U.S. citizen or eligible non-citizen with authorization to work in the U.S. Applicants must meet all other eligibility requirements for enrollment into the program. Eligible applicants who have requested financial assistance will be required to provide certain documents (e.g., W-2 forms, pay stubs, public assistance documentation) to continue with the financial assistance process. The grants do not have any monetary value and CTCA can only apply the grant to students’ accounts for tuition/fees charges incurred.

 

How to Figure Out How Much You Might Receive in Grants

  1. Determine how many people are in your household. How many people do you report on your tax return? Does anyone else claim you on their tax return as a dependent?
  2. Figure out your household’s annual gross income (i.e., hourly wage multiplied by hours per pay period, multiplied by number of pay periods per year to determine your household’s annual gross income).
  3. Compare your household’s annual gross income to the U.S. Health & Human Services Department guidelines for federal poverty. You can check out their website directly for all details.  
    • If your household annual gross income is less than 200% of the federal poverty rate, you’d qualify for a grant to cover the full cost of the program.
    • If your household annual gross income is between 200- 300% of the federal poverty rate, then you’d qualify for a grant for 50% of the total cost of the program.
    • If your household annual gross income is more than 300% of the federal poverty rate, you would not qualify for the financial need grants.
    • You may qualify for grant(s) reserved for historically under-represented demographics in IT, or for U.S. Armed Forces Active Duty/Veteran status. 

     Based on the calculations above, you may qualify for multiple grants which can be stacked together to help pay for the cost of the program, as shown in sample scenarios below.

 

Sample Scenarios for Determining Your Grant Eligibility

Scenario A: You’re a single female Latina living at home in without any kids, you file your own tax returns, and no one else claims you as a dependent (like a parent might) on their tax returns. You make $10 an hour in your current job.

Your annual salary would be $20,800 ($10 x 2080 hours per year). You make less than 200% of the federal poverty rate for a household of 1. You’d qualify for a full-tuition/fees grant.

Note: any applicable external sponsor or third-party funding must be applied to your tuition and fees before any CompTIA Grants may be applied. Please be sure to work with your Financial Assistance Advisor to make sure you receive all funding you may be eligible to receive.

Scenario B: You’re a married Black female with two kids, and you and your partner file a joint tax return. Your salary and your partner’s salary combine to make $30 an hour in your current jobs.

Your household’s annual salary would be $62,400 ($30 x 2080). You make more than 200% of the federal poverty rate but less than 300% of the federal poverty rate for a household of 4.

You’d qualify for a partial tuition/fees grant of 50% based on financial need. Additionally, because you prefer to disclose that you are female and Black, you’d qualify for an extra $1000 for each of those demographic factors (total $2,000 for under-represented demographics in IT).

For the IT-Ready Technical Support program, you’d qualify for $4,250 based on financial need, and an additional $2,000 in grants for under-represented demographics in IT g, thus giving you a total of $6,250 to apply to your tuition/fees. Your expected contribution would be the net balance of $2,250 for your tuition/fees.

Note: any applicable external sponsor or third-party funding must be applied to your tuition and fees before any CompTIA Grants may be applied. Please be sure to work with your Financial Assistance Advisor to make sure you receive all funding you may be eligible to receive. 

 


CompTIA Institutional Student Loans

For students who may not qualify for grants, we offer low-interest CompTIA Institutional Student Loans (“CompTIA loan(s)”) to help students manage their expenses for the program. We are partnered with UNISA to service the CompTIA loans.

CompTIA loans are available to accepted students who are enrolling in any CTCA campus. The CompTIA loans are applicable to tuition and fees.

The CompTIA loan details are as follows:

  • The repayment period for loans up to and including the amount of $2,500 is 48 months.
  • The repayment period for loans over $2,500 is 60 months.
  • The in-school interest rate is zero; the student does not accrue interest on the loan while they are attending the program.
  • The out-of-school annual interest rate is 2%.
  • The in-school payment amount is $10 per month, to commence on the 1st of the month after the program starts.
  • Loan payments are due on the 1st of each month for in-school and out-of-school payments. Payments are made directly to UNISA using the UNISA portal.
  • The out-of-school minimum payment amount will be itemized on the Private Education Loan Final Approval Form, Estimated Repayment Schedule, or a minimum of $10 per month.
  • Students that sign up for an auto repayment plan will receive a non-cash reduction of 5% on each payment received. After two consecutive declined payments, the non-cash reduction will no longer be offered. 
      • UNISA will be responsible for reporting the loan status to Experian credit bureau monthly when in repayment to help build a positive credit history.
      • If a student experiences financial hardship such as the loss of a job within two years of leaving a CTCA program, then the student may request a six-month forbearance on the loan where interest accrual and payment collections are delayed. The student is responsible for providing any applicable documentation of the financial hardship upon request.
      • If a student obtains a Leave of Absence (“LOA”) from the program and they have a CompTIA Loan, the financial status of the student will be evaluated on a case-by-case basis by the Financial Assistance team in order to determine if the CompTIA loan will be put on hold or cancelled. If the CompTIA Loan is put on hold, in-school monthly payments will cease until the student returns to the program. Once the student returns to the program from an approved LOA, the in-school payment of $10 will be due on the 1st of the month after the program starts. If the CompTIA Loan is cancelled, the student would need to reapply for the loan to return to the program
      • Students will be charged a $5 monthly fee for each missed payment.
      • Students will be charged a fee of $5 for each returned payment, due to either insufficient funds or returned check or ACH payment. If the student’s credit/debit card declines payment, there is no fee for a decline. If a student’s credit/debit card auto-pay declines, there is no fee for that decline. After two consecutive declined payments, the non-cash reduction will no longer be offered.
      • The student must agree to and abide by all UNISA requirements in servicing the CompTIA loan, including the student loan application, approval, self-certification, entrance counseling, promissory note, final disclosure and exit counseling.

        Students may calculate an estimate of their expected monthly loan payment using the Student Loan Calculator

        Sample Scenario on Loan Repayment

        You received partial grants in the amount of $6,500 and only need a loan of $2,000 to pay the net balance of your $8,500 tuition/fees.

        You enroll in the online IT-Ready Technical Support program which starts in the middle of the month. Your in-school payment of $10 would be due on the 1st of the month after the program starts. No interest is accrued on the CompTIA loan during the program.

        Once the student transitions out of the program, the out-of-school payments are due on the 1st of the month. A 2% annual interest rate begins to accrue once the program ends or the student leaves the program. 

       

       

      Self-Payment Plans

      Many of CTCA's students who do not receive grants or CompTIA loans, decide to set-up a payment plan. With the payment plan, you make payments in two installments. The first payment (50% of net tuition and fees) would be due 14 days before the program begins. The remaining net balance would be due five (5)  days after the program starts.

      If the account becomes past due, you will be placed on an academic hold and will not be able to attend the program until the tuition and fees are paid in full.

      For North Carolina Residents Only: If total tuition is greater than $5,000, CompTIA Tech Career Academy may collect up to 50% of the total tuition prior to the mid-point of the program. The remainder of the tuition may be collected only when the student has completed one-half of the program. Federal regulations regarding the disbursement of tuition shall supersede North Carolina state disbursement regulations stated in this rule. The total cost the student is to pay is divided into two payments based on this North Carolina rule. The first payment is due when the student starts the program, and the second payment is due after the student has completed 50% of the program.

       

       

      Third-Party Funding

      Workforce Innovation and Opportunities Act Funding

      The Workforce Innovation and Opportunities Act (“WIOA”) provides financial assistance to unemployed persons and those who meet federal low-income guidelines for the purpose of job training.

      CompTIA Tech Career Academy appears on Eligible Training Provider Lists (“ETPL”) with multiple WIOA agencies. We urge you to contact your local WIOA agency to confirm that CTCA is on the applicable ETPL, and to determine if you qualify for a grant.

      Tuition Vouchers/Tuition Billing Authorizations/Etc.

      CompTIA Tech Career Academy accepts other third-party funding students may receive from their employer in the forms of tuition vouchers, tuition authorizations, etc. Contact our Financial Assistance staff to confirm whether certain third-party funding is acceptable to be applied to tuition and fees.

      Tuition and Fee Refunds

      Tuition and fee refunds will depend on a number of factors, including the type of funding (grant(s), CompTIA loan, self-pay, etc), what state you live in and how far along in the program you are. For more details, contact our Financial Assistance staff or review the cancellation and refund policy in the course catalog.

      Financial Assistance FAQs