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Financial Aid for Students: Scholarships, Grants, and Loans

Learn about financial aid options for higher education, including scholarships, grants, and loans. Find out how to apply and determine your eligibility. Available in English.

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Financial Aid for Students: Scholarships, Grants, and Loans

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Presentation Transcript

  1. Welcome Students

  2. What is Financial Aid? • Funds which are available to help pay the cost of higher education • Funds are distributed in the following way: Local, State, Private or Institutional Scholarships and Cal-Grants, Free Money Offers students the opportunity work in a job on or off campus Work Study OR Funds available for students and/or parents which must be paid back Loans

  3. What is a Cost of Attendance? • An estimate of how much it will cost to go to the specific college. Note: Costs vary for each school

  4. How much federal student aid can I get? • In general, depends on your financial need. • Financial need determined by Expected Family Contribution (EFC) and cost of attendance (COA) • EFC comes from what you report on FAFSA(Free Application for Federal Student Aid) OR CA Dream Act Application • COA is tuition, fees, room and board, transportation, etc. • COA – EFC = financial need

  5. How do I apply for Financial Aid? • Fill out the online form called FAFSA • (Free Application for Federal Student Aid) • OR fill out the online form, California Dream Act Application • You must only apply to ONE; Submit an Application Conversion Form if you accidently do the wrong one. • Application: October 1- March 2 • Must apply every year while in school • http://www.fafsa.ed.gov/ • http://caldreamact.org

  6. Do you qualify for the FAFSA? • Be a citizen or eligible noncitizen of the United States. You are an eligible non-citizen if: • You are a permanent resident, have a green card, are a refugee, or victim of human trafficking. • Have a valid Social Security Number. • Have a high school diploma or a General Education Development (GED) certificate, or have completed homeschooling. • Be enrolled in an eligible program as a regular student seeking a degree or certificate. • Maintain satisfactory academic progress.

  7. Do you qualify for the CA Dream Act? • Attend a California high school for a minimum of three years or attained the equivalent of at least three years in elementary/middle school • Graduate from a California high school or pass the California High School Proficiency Exam (CHSPE) • Enroll in an accredited and qualified California college or university; and, • If applicable, fill out an affidavit to legalize immigration status as soon as eligible • Do not hold a valid non-immigrant visa • Students must qualify for AB 540 status by turning in a “California Nonresident Tuition Exemption Request”to the school they plan on enrolling attending

  8. 2018-19 California Dream Act Application UPDATES • Do not include your DACA SSN on your application. • All males from 18-25 yrs must register for selective services. Undocumented males must do so via mail. (see your counselor) • Dreamer loan is still available but must inquire directly with your financial aid office.

  9. CAL-GRANT • Government Funds which are available for students to help them pay the cost of a university • You don’t have to pay it back!!! • Federal Pell Grant: Federal Grants • You don’t have to pay it back! • Offered to students who have not received their first Bachelors of Arts • $400 to $5,500 per year

  10. Cal Grant A • 3.0 GPA • California resident • Must need financial assistance • Must be attaining a first degree. • Pays up to 5 years. • Pays for tuition and fees: • $5,742 to $12,630 • * If attending a CCC, money will be placed on hold • * for selected 4yr schools only

  11. Cal Grant B • 2.0 GPA, a California resident, must need financial assistance, be attaining a first degree, and first generation to attend college. • Pays tuition and fees, books, living expenses, and transportation First year = $1,672; Years 2,3,4= pays tuition from Cal Grant A + $1,672 • Pays 1 year for a Vocational Program • Certificate or Associate degree minimum

  12. Cal Grant C • No minimum GPA • California resident • Must need financial assistance • Must be attending vocational school/Training Program • Study must be at least 4 months up to 2 years of full time study • Books and Supplies= $1,094 (if not attending CCC) • Tuition & Fee= $2,462 (if not attending CCC) • You will be notified if a supplementary application is necessary

  13. Cal Grant: To DO List • Complete the FAFSA OR CA DREAM ACT Application • Complete the GPA Verification Form (counselors will do this for you) • Must submit on or before March 2 of every year • Check status of application by creating an account on: • https://mygrantinfo.csac.ca.gov/ • You should receive notification from CalGrant by April 30, if not call 1-888-CA-GRANT

  14. More Financial Aid

  15. “Perkins” Loan • Loans with low interest rates (5%) available for students who demonstrate financial need • The University or College is the loaner and • you start paying the loan 9 months after you graduate or end school • $4,000 per year for a total max of $20,000

  16. Federal Stafford Loan 3.37% SUBSIDIZED PAYMENT STARTS 6 MONTHS AFTER THE LAST DAY OF ATTENDANCE AND... UNSUBSIDIZED PAYMENT STARTS 6 MONTHS AFTER THE LAST DAY OF ATTENDANCE BUT... The federal government pays the interest on subsidized loans while you are in school and during the first six months after you graduate, withdraw, or enroll less than half-time. You’re responsible for paying interest that accrues OR let it accumulate while in college, but interest will be added to the amount you borrowed, and future interest will be based on the NEW higher loan amount.

  17. “PLUS” LOANS • Loans that may be borrowed by parents to pay their students education if the student is still dependent and is enrolled in the school at lest half-time • Plus Loans are unsubsidized • PLUS loans have a variable interest rate, with a cap of 9 percent • Interest starts to accrue immediately, with repayment beginning with in 60 says after the last day of attendance.

  18. EOP Applications for low income & first generation college students • EOP can offer students: financial assistance, admission to university, academic and personal counseling, and campus resources. • Application deadlines vary from campus to campus (most are by Nov. 30) • Additional requirements: 2 recommendations and unofficial transcripts to EOP office of the college.

  19. CSS Profile • Online application that collects financial information used by some colleges and scholarship programs to award institutional aid • Some colleges require students to create a PROFILE (check college board for the list) • Fee: $25 for application; $16 for additional reports ( Fee waivers available)

  20. Fsaid.ed.govfor FAFSA only You and one parent need to create an FSAID • You need a social security number • Use a working email • Create a username and password • Create security questions • Now sign in to FAFSA.GOV

  21. EARLY FAFSA and CA Dream Act Application • START NOW BY: • Setting up an appointment with your counselor or Ms. Perez • Attend after school workshops (Tuesdays and Thursdays) October 1- March 2 • BRING THE FOLLOWING: • Parent’s/student’s 2016 tax return forms • Parent’s birthdays • Parent’s marriage/divorce/widowed date • Your FSAID information (FAFSA)

  22. 2018-2019 Worksheet • Be prepared by filling out the worksheet ahead of time. • Helpful hints…. • Have your parent’s 2016 tax return on hand • You may include up to 10 colleges/universities to receive your FA information, you can always go back and include more later. • Make sure to choose that you’ll be “full time” when attending college. • Choose whether or not you will be living on campus, with parent, or on your own. • If your legal parent lives in another state or country you must report their income in dollars, IF you still have contact with them.

  23. 2018-2019 Worksheet • Helpful Hints continued…. • 6. When choosing which parents’ income to use consider the following: • If your parents are now divorced but were married in 2016, include combined income. • If parents were divorced in 2016 but now are married you need to combine their income. • If your parents are divorced but still living together you must report combined income. • If parents are divorced and living apart, which parent provides the most income to support you? • If your divorced parent is now married, you must include both your parent’s and step parent’s income.

  24. 2018-2019 Worksheet • Helpful Hints continued…

  25. Upcoming Dates • Application Workshops • Starting October 3 • every Tuesday and Thursday • 3pm-4pm in career center • SAT/ ACT • Last chance to register is • November 2 (SAT) • November 3 (ACT) • You must send all your scores! • Send by October 20 • Cal state apply-3594 • Send to one UC UC Application Workshop October 18 @ 9am Late start Career Center College Expo October 18 6pm-8pm John Glenn HS UCLA October 5 @ lunch in career center UC SAN DIEGO October 16 5th and 6th period in career center USC October 30 @ Lunch

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