Grant Funding

1. Grant Funding Show Me The Money!

2. Pell Grants • How: • When: • Who: • How Much • Apply for FAFSA • Apply 1/1/14 – 05/10/14 • Eligible EFC: 0-5082 • $0-1,882 Pell Grant funding is issued by the department of education and is exactly tied to a students EFC.

3. State University Grant • Most commonly referred to as SUG • Is directly tied to the amount of tuition • 14-15 Academic Year Est. $1,824 quarterly • Yearly amount equals $5,472 • Initial payout based on allocation of funds from the chancellors office • Must have filed a FAFSA before the 3/2/14

4. Educational Opportunity Program (EOP) • Must be admitted to the EOP program • Funds are given on a first in first out basis • Funding range $600 - $1,200 annually The eligibility criteria as specified in the California State University (CSU) Educational Opportunity Program regulations and guidelines are: • History of low family income; Undergraduate student • California resident • Must enroll as a full-time student (part-time attendance requires the approval of the EOP Director) • Needs admissions assistance or meets the regular university admission requirements but, in the opinion of EOP personnel, will require the full range of assistance in order to succeed • Has submitted the supplemental EOP application forms and the California State University's admissions application

5. Supplemental Education Opportunity Grant(SEOG) • The Federal Supplemental Educational Opportunity Grant is awarded to college students who have a significant need for financial aid. • You must show exceptional need, meaning that your family’s contribution toward your tuition is zero • You must be a U.S. citizen to be considered. Your grades must meet the proper requirements (which means GPA >2.0.) If you have been in default on a student loan, you will not qualify for the FSEOG. You cannot owe any repayment on other grants. Finally, you must have been awarded a Pell Grant in order to qualify

6. Student LoansThe Good, The Bad and The UGLY!

7. Government Loans Subsidized • Available to undergraduate students with financial need • DOE pays the interest on a Direct Subsidized Loan: -while you’re in school -at least half-time for the first six months after you leave school (referred to as a grace period*) • *During a period of deferment (a postponement of loan payments). Unsubsidized • No requirement to demonstrate financial need. • Your school determines the amount you can borrow based on your cost of attendance and other financial aid you receive. • You are responsible for paying the interest on a Direct Unsubsidized Loan during all periods. • If you choose not to pay the interest while you are in school and during grace periods and deferment or forbearance periods, your interest will accrue (accumulate) and be capitalized (that is, your interest will be added to the principal amount of your loan).

8. Interest Rates

9. Questions? • www.studentaid.ed.gov • www.csac.ca.gov • www.fafsa.gov • www.nslds.gov • www.calstatela.edu/univ/finaid

10. Trivia Questions • What type of Grants are available to students? • What is the difference between a subsidized and unsubsidized loan?