financial aid?

[ekoshock]

Not really sure where to post this, hope this is the right section. If not, then please let me know so I can post this at the appropriate forum.

How long do we have to pay off the loans? Do we also have repayment options Is it going to be like the usual college loans, where we have to pay with in 10 - 25 years?

And because I am dirt poor and there is possibly no way for me to attend the onsite school unless living costs were covered or I found myself the heir of a long-lost relative who owns a vast financial empire,

For those who decide to go to the school onsite rather than online, does the maximum amount for the loans ONLY cover tuition and not living costs?

[Jason Manley]

www.theartdepartment.org

Check the link on financial aid in the INFO section I believe.


Jason

[J Love]

There's no mention of the no-interest loans previously mentioned on theartdepartment.org's tuition information page. Do you still plan on offering loans to students?

[Thyname]

The loans are there.


30 Month program payment options:

1. One up front payment of $30,000
2. Three payments of $12,000 in the first 15 months (1, 7 and 15) = $36,000
3. Four payments of $10,000 in the first 24 months (1, 8, 16 and 24) = $40,000
4. 30 payments of $1,500 each month = $45,0000
5. One up front payment of $6,000, followed by 78 payments of $500 = $45,000
6. 90 payments of $500 = $45,000

* The first three options contain substantial tuition discounts and are available for a limited time only.

It is not labeled as a loan, but the ability to pay the school over 30/78/ or 90 months is a substantial loan. I believe the 90 month is the only one with interest.

The first three versions are a limited time discount to those who can afford it. The school is doing it so that they have some money to pay for bandwidth, instructors and setting up the workshops in 4 locations.

The going rate for the school will be $1500 per month. While there is not a specific option to allow someone to defer tuition until they graduate, financing the total sum down to $500 per month makes it at least manageable.

If these options still make the school impossible, I'm sure there are multiple other avenues that you can take. If you have any questions I might be able to offer some advice.

I'm not affiliated with the school, but I have some knowledge of loans and financials.

[John English]

Your answer for Jeff was right on. Our no interest loans are based on a student paying $500 per month until the total program fee is payed off as the most extended loan.

Jeff I hope this answered your question.

Thanks for the interest in our program,

John

[heix33]

I've got some questions too and I hope this is almost the right place to put them.
So, does the paying start from attending TAD?
And, does it cover only tution?
Where do the students live while attending TAD, do they go to work beside school to pay off apartment, food and stuff?
I apologize if those questions are stupid.

[Thyname]

As I understand it. The price only covers tuition, like other schools.

You would have to work to come up with living expenses and money for school supplies. At other schools, it is not uncommon to spend $200-$600 in textbooks per semester. Our "textbooks" are art supplies, and possibly art programs.

Fortunately, the program is fully digital and you can live at home with your parents and save up the money for tuition and money to attend the workshops every 4 months.


**Note: Tuition is due not later than May 15, 2010.
i would imagine that this is the day that the first payment is due.

Remember that school is almost offensively expensive... at all schools. A private Art school will run you over $30k per year. Loans or a rich uncle are the only real to pay for it. So buckle down, do your research and secure a school loan that can be used towards a professional/technical school. In the view of banks, TAD is one of those schools. Remember,if you can get the money, you can save a ton on tuition.

These are all assumptions, but I hope it helps anyways.

-Evan

[ekoshock]

Thanks for the clarification Thyname! So I guess the options listed aren't really loans but ... layaways? I guess that would be a more accurate description.


Our no interest loans are based on a student paying $500 per month until the total program fee is payed off as the most extended loan.

^ Does this mean there is no deadline/time limit to pay off the loan; that I just stick to the chosen payment plan till I pay off the entire tuition?
Sorry if I sound so stupid, I'm not that great with financial terminology....

[Nakhon]

Neither am I. Even worse is...I don't understand about loans.:nohope:

Anyway, I was wondering if there's an actual place for this school and assuming there is a degree...like other schools (even though portfolio will probably make up a HUGE portion of it).

Also, if there is to be a school in San Francisco, CA. How much (roughly is living expenses there and the like) I'm from PA...and have never been to California. The reason I ask is because I'm the type that would rather be in a building (but will have to see after I try Discovery's online courses).

Had a few more questions but not sure how to ask them...oh well time to do some research for loans.:lounge:

[Thyname]

@ ekoshock:
Layaway would not be a good term either. Layaway is when you pay for an item over time and the store holds the item for you, then when you have paid all of the item. You can finally take it home. Since you get to attend the school before you pay for it all, the term is "financing".

John clarified that the tuition is interest-free and what he meant when he said

Our no interest loans are based on a student paying $500 per month until the total program fee is payed off as the most extended loan.
This means that the the student must pay $500 a month. no exceptions. This is the very lowest amount that you can pay to attend the school. Think of it this way.

School= $45,000
Cheapest Payment = $500 per month
Length of Loan = $45,000/$500 = 90 months.


Does this mean there is no deadline/time limit to pay off the loan; that I just stick to the chosen payment plan till I pay off the entire tuition?
Part one of quote: This is incorrect. there is no deadline, but there is a time limit. In the case of the $45,000 loan, the time limit is 90 months.
Part two of quote: This is correct. You pay $500 per month until the school is completely paid for.

@ Nakhon:
Discovery will be a great way to test the waters. I myself am not completely comfortable with learning online, but the 3 week workshops are going to be pretty hard core and will supplement the online program.

I also will be moving in order to immerse myself in an artistic environment. The way I see it, If I live in a city with other people attending the school, we might be able to meet up and do some work.

As I understand it, San Francisco is the most expensive place to live in the United States. I know they have a great public transit system and a car is not completely necessary. I know that SF is out of my budget and I will be moving to Austin over the summer. btw. California is gorgeous and it provides the best opportunity for growth.

-----
Hope this helps. Feel free to ask more questions

[Nakhon]

The 3 week workshops your referring to are the workshops that they hold every so often around the world right or is it something else...(sorry for not understanding some of this)?

Yeah, I was thinking about moving too...Austin sounds nice, but then if it so happens there's one in Richmond, VA that would be good too as its not to far from where I live.

Thanks for clearing up my questions. :) I'll ask more when the time comes.

[Thyname]

The workshops I was referring to are not the same as the ones are held around the world.

TAD will be hosting 3 week workshops at the beginning of every semester. These are meant to supplement the online program.

Let me see if I can get some good quotes for you


I want to explain that our program is designed as a cutting edge online and real world hybrid which lasts 30 months


The Online program is extremely well designed and thorough. The real world component is something we are really excited about. Being with other artists in person, is so very important, and ours is going to be one of a kind. To give you a general idea, imagine going to the ConceptArt.Org workskhop for three straight weeks, three times per year.

sorry I don't have time to keep searching. just check out this thread and read the articles from the instructors.
http://www.conceptart.org/forums/showthread.php?t=172141

[heix33]

This may sound stupid, but, what's the difference between concept design academy and the art department?
And where do I have to send my portfolio? I haven't really seen it mentioning anywhere, I guess I missed it.

[donm]

the art department is a collection of instructors from massive black, conceptart.org, and the illustration academy. the illustration academy is its own school with its own course(s).

[Thyname]

portfolios are not being accepted yet. I expect it will be starting soon

[heix33]

yeah but illustration academy is not the same as concept design academy.
and TAD and CDA are not the same schools, right?

[Yang87]

CDA is a school located in Pasadena that is being run by Kevin Chen, a concept artist who also posts on these forums via the username Kchen. You can find more information about his school in the Education section of this forum, as well as several of his lecture notes scattered around the site.

TAD is a new hybrid online/on-site program that is launching in June, a collaboration between Massive Black and The Illustration Academy.

So no, they're not the same school. Read the about us section in TAD site, it should give you more information about Massive Black and The Illustration Academy.

Both schools are more career/portfolio inclined and do not offer any formal certificates as far as I'm aware of. There hasn't been any official announcements from TAD so don't take my word for it.

[heix33]

Thanks Yang

[shryeskom]

Financial aid is an important factor to consider for students applying abroad. Careful planning is both necessary and wise. Foreign nationals are required to show proof of sufficient funds to cover at least the first year of their college education to apply for a student visa.