ADMISSIONS
Financial Aid
The Office of Financial Aid provides students with the financial services and advice that will help them best meet the educational expenses necessary to achieve their career goal of becoming outstanding Doctors of Optometry.
Like most students in the process of investigating various colleges and the programs they have to offer, you are undoubtedly becoming aware of the high cost of graduate education at a private college. You may be wondering how you will be able to afford these educational expenses.
You should not be discouraged as over 91 percent of all students at SCCO use some form of financial assistance. These are grants and scholarships, low-interest loans, high-interest loans, and work-study opportunities. These programs are described in detail in the SCCO Catalog and the Financial Assistance Programs chart.
When comparing the cost of a private versus a public institution you should consider the quality of education that you will be receiving for your hard-earned dollars. Through careful planning and assistance from the SCCO Financial Aid Office, your future goals can be realized.
For detailed information on the financial aid available at SCCO, download a PDF of the SCCO Financial Aid Booklet.
What Type of Assistance is Available?
For most students, personal savings or earnings and other family assistance is not enough to cover all educational expenses. SCCO offers a variety of financial aid programs to assist eligible students.
Scholarships and grants are direct awards of aid that do not have to be repaid. Many states and organizations sponsor scholarships and/or grants for members of their organization or residents of their state. The College alumni and private donors also make scholarships available to SCCO students.
Loans are a way to postpone paying for your school expenses until you have completed your education. The bulk of student aid monies are loan funds that must be repaid after you leave SCCO.
Work-study jobs enable students to earn part of their educational expenses through part-time employment at the College.
How Financial Need is Determined
When you apply for financial aid, your FAFSA form is analyzed, along with supporting data you have submitted to determine the amount you and your family could contribute toward your educational expenses. Factors taken into consideration include income, number of family members, number of family members in college, and assets.
The SCCO Standard Budget includes tuition, fees, books, and supplies, plus a modest budget for living expenses. This budget, minus your expected family contribution and all outside resources, will equal your calculated "need."
Most of the financial aid available is in the form of loans. The following chart shows the percentage of students receiving funds from the major loan programs, and the average award amount.
| Loan Program |
Percent Receiving |
Average Amount |
| Direct Subsidized | 90% | $8,500 |
| Perkins | 84% | $1,791 |
| HPSL | 30% | $2,676 |
| Direct Unsubsidized | 79% | $28,424 |
Financial Assistance Programs
| Type | Basis Granted | Range of Awards* | To Be Repaid | Application Required | Remarks |
| WICHE and State Contracts | State Residency | $16,100 | ** | ** | States: AK, AZ, CO, HI, ID, MT, NV, ND, UT, WA, WY |
| Fall Awards and Other SCCO Scholarships | Academics and Need | $500 to $4,000 | No | SCCO Application | Most chosen by Scholarship Committee |
| Federal Work-Study Program | Need | $11 to $7,799 | No | SCCO Application | Pay rates are $9-$12/per hour |
| Perkins Loan | Need | $500 to $1,800 | Yes | SCCO Application | Interest rate is 5% |
| Health Professions Loan | Need | $500 to $2,900 | Yes | SCCO Application CSS Required | Interest rate is 5%. Parental data required. |
| Loans for Disadvantaged | Need | $500 to $3,000 | Yes | SCCO Application CSS Required | Interest rate is 5%. Parental data required. |
| Harris Student Loan | Need | $500 to $4,500 | Yes | SCCO Application | Interest rate is 5%. Only 4th-Year Students. |
| Kanai Loan Fund | Need | $500 to $4,500 | Yes | SCCO Application | Interest rate is 5%. Only 4th-Year Students. |
| Unsubsidized Direct Loan | Need, without EFC*** | $1,000 to $40,500 / 47,167 | Yes | Stafford MPN | Interest is fixed 6.8%. |
| Military Scholarships | N/A | Cost of Attendance | No | Contact Army, Navy or Air Force |
* Financial aid awards for some programs are contingent upon available funds and calculated eligibility.
** Varies according to state. Contact the Vice President of Student Affairs for details.
*** EFC is the expected family contribution determined from the FAFSA.
Financial Aid Facts
Q. What percentage of SCCO students use financial aid?
A. During the past five years the figure has been between 90-92%.
Q. What kinds of financial aid resources are available?
A. There are loans, scholarships/grants and work-study jobs. These resources currently provide a grand total amount of over $14.3 million annually.
Q. What percentage of the financial aid resources are grants and scholarships?
A. The grand total amount consists of 8% grants or scholarships. 91% of the aid available is in the form of loans and currently totals over $13.4 million.
Q. What does it cost to go through SCCO's program?
A. The students who graduated in May 2012 paid $126,757 for the direct costs of tuition, books and instruments during their four years of attendance. The full budget, including living costs for four years was $199,456.
Q. What kind of debt burden do SCCO students graduate with?
A. The average indebtedness level of the eighty-nine students of the Class of 2012 that took out loans was $154,090 and debt levels ranged from $2,500 to $225,761.
Q. Do these figures include undergraduate debt?
A. No. About 49% of the Class of 2012 students entered with loans from their undergraduate colleges. The average undergraduate debt level was $15,100.
Q. Can you estimate student loan monthly repayment amounts?
A. Yes, the graduates from the Class of 2012 had an average estimated monthly repayment amount of $1,773 but the amount ranged from $50 to $2,857 based on a 10-year repayment period .
Q. What income level can our students expect after graduation?
A. The average net income from the primary practice of optometry was $132,052 in 2010, the most recent statistic available. (Data from 2011 AOA Economic Survey.)
Q. What is considered a "manageable" debt level?
A. Past studies have suggested that annual repayment amounts should not exceed 15% of expected income. On an indebtedness of $154,096 we estimate a monthly loan repayment amount of $1,975 and an annual loan repayment amount of $23,700. This would represent about 15% of the median net income amount mentioned above. An extended or graduated repayment plan could lower the monthly payment amount, if needed, in the early repayment years.
Q. Are SCCO alumni able to repay their student loans?
A. Yes. Our cohort default rate on our Direct Loan programs has been zero for the past 12 years.
How to Apply and Deadline Dates
Financial Aid Packets are sent out in late March with a mid-June deadline date to submit financial aid forms. If your tuition due date happens before you receive your financial aid checks, we will not charge the late fee if you have submitted most of your financial aid forms by this date.
SCCO requires only student data on the FAFSA form. You should use actual income tax data, not estimated. You can go to the web site at http://www.fafsa.ed.gov/ to file your FAFSA electronically or obtain a PIN number.
How to Contact Us
Financial Aid Staff: Tami Sato 714.449.7447 .(JavaScript must be enabled to view this email address)
Barbara Breffle 714.449.7448 .(JavaScript must be enabled to view this email address)
Office Hours: Monday-Friday 8:00 a.m. to 5:00 p.m.
SCCO Code Numbers: Title IV Code for FAFSA - 001230
CSS Profile Code - 4392
Address: Southern California College of Optometry
ATTN: Financial Aid Office
2575 Yorba Linda Blvd.
Fullerton, CA 92831-1699