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Financial Aid/Scholarships

Financial Aid/Scholarships. by Counseling Department. Who Wants A Million Dollars?. College Tuition. Community College $1,104 California State University (CSULB) $5,472 University of California (UC) $13,200 Private Universities (USC) $45,602. GRANT. Money that never has to be repaid

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Financial Aid/Scholarships

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  1. Financial Aid/Scholarships by Counseling Department

  2. Who Wants A Million Dollars?

  3. College Tuition • Community College $1,104 • California State University (CSULB) $5,472 • University of California (UC) $13,200 • Private Universities (USC) $45,602

  4. GRANT • Money that never has to be repaid • Two types: Cal Grant/Federal Grant • Not a loan • Based on financial need • Foster Youth- California Chafee Grant up to $5,000 a year www.chafee.csac.ca.gov • New Grant Program: Middle Class Scholarship-available for undergraduate students; family income up to$150,000; attend a UC or CSU campus and up to 40% fee reduction; and must file FAFSA or CA Dream Act Application by March 2nd; GPA not required, but recommended for all.

  5. Scholarship • More free money usually based on good grades or other requirements • Never have to repay • Must apply • Various scholarships • Ford/Coca-Cola/McDonalds etc..

  6. Work- Study Programs • Federally and college funded • Earn money • Work on or off campus to help pay for college • Related to course of study

  7. LOANS • Money has to be repaid • Low interest • Typically funded by the government • Loans designed to help you not take advantage of you! • Must fill out FAFSA

  8. California/State Aid Cal Grant (A) • Requires a 3.0 GPA minimum during 10-11th grades- Not on weighted scale & Excludes PE • Up to $9,084 Private Universities • $12,192 University of California (UC) • $5,472 Cal State Universities (CSU)

  9. Cal Grant B • Requires 2.0 GPA minimum during 10th-11th grades- Not on weighted scale & Excludes PE • Amount Awarded $1,473 Stipend 1st year • Typically Living Allowance 1st year • 2nd year and on you receive Living Allowance+Tuition and Fees at UC and CSU; and up to $9,084 Private University

  10. Cal Grant C • Awarded to Technical/Vocational • Award amount up to $547 for books and tools • Up to $2,462 if attending a non-community college for tuition/fees

  11. Federal Money(FAFSA) • Federal Pell/FSEOG Grants • Financial Need Formula Cost of attendance - Expected family contribution =Financial Need • Award $750-$5,645

  12. Expected Family Contribution El CaminoCSLBUCLAUSC Cost 1,104 5,472 13,200 45,602 EFC - 1000 -1000 -1000 -1000 Need =104 =4,472 =12,200 =44,602 Don’t throw away free money!

  13. Direct Subsidized Loans • Demonstrate Financial Need • Government pays interest while you’re in school at least half-time • No interest till 6 months after graduation • Current interest rate 3.86% fixed • For 2014-2015 will be 3.86% fixed • Amount $3,500-$5,500

  14. Direct Unsubsidized Loans • All qualify regardless of income • Will pay interest from day one • Interest payment can be deferred while in school but interest will accrue • Encouraged to pay loan during school to minimize • Currently interest rate 3.86% during school • Amount $5,500-$20,500

  15. Other Federal Loans Federal PLUS Loans • Intended for parents • Never subsidized • Interest begins accruing immediately • Current interest rate 6.41% • Federal Perkins Loan • Low interest loan for exceptional need • No interest charged while in school up to $5,500 each year • Interest is fixed at 5% • Can borrow up to $27,500

  16. Requirements • California Resident • Must be U.S. citizen or an eligible non-citizen • Register with Armed Services • Attend a Post-High School Institution • Be enrolled at least part-time in college • Be in good academic standing • Demonstrate financial need • Not owe money to the government

  17. Private Scholarships • Extra curricular activities • Good grades • Local Scholarships • Companies/Organiz. • www.gmsp.orgGates/Mill. • www.fastweb.com • www.schoolsoup.com • www.collegeboard.com • www.finaid.org • www.gocollege.com

  18. Scholarships Cont.

  19. Pacific Islander americansamoa.gov www.apiasf.org pifasandiego.com www.luv2hula.com Latino www.chci.org www.hsf.net www.maldef.org www.latinocollegedollars.org www.hispanicfund.org Scholarships Cont.

  20. Income and Asset Ceilings 14-15 IncomeCal Grant A, C Cal Grant B Dependent & Independent Students w/ dependents other than spouse Family size: Six or more: $101,000 $55,500 Five: $93,700 $51,400 Four: $87,400 $45,900 Three: $80,400 $41,300 Two: $78,500 $36,700 Independent Students Single, no dependents: $32,000 $32,000 Married, no other dependents: $36,700 $36,700

  21. AB540 Students • AB540 students, including undocumented students, can pay for in state tuition fees at CA public colleges/universities but must have attended 3 years of CA High School & Graduated from CA H.S. & file affidavit • Excellent resource to master AB540 process: www.ab540.com • Community College, Cal State University, University of California • Private Universities/Private scholarships available w/full rides:LMU,USC • www.maldef.org / www.finaid.org / www.latinocollegedollars.org • Workshop/Dream Act Application : 1-23-14, 6-7:30pm • AB 130 authorizes AB540 students to apply for privately funded scholarships given by a CA public college/univ. Effective 1-1-12 • AB 131 authorizes AB 540 student to apply for state aid: BOG Fee Waiver at CC, & Cal Grants. Effective 1-1-13 at CC, CSU, & UC. • CA Dream Act Application: www.caldreamact.org & Non-SSN Cal Grant GPA Verification Form,see your counselor. • Approved Deferred Action Students in CA should complete the California Dream Act Application not the FAFSA!

  22. DEADLINES • March 2nd for initial awards • Cal Grant submitted by March 2nd • Students responsible for submission of Free Application For Federal Student Aid (FAFSA)

  23. Homework! Yes Homework! • Establish PIN # at www.pin.ed.gov now! The PIN # is used to electronically sign FAFSA! Need SSN#. • Begin FAFSA www.fafsa.ed.gov on 01-01-14. • College Reps. will be here to help you fill out FAFSA on Thurs. 1-23-14 at 6pm in A-8, A-9, & A-10 & later date TBD. • Bring questions! Otherwise will have to do it on your own. • Cash for College “Super Saturday” 2-01-14, scholarships/fill out fafsa for ALL! Find location on www.lacashforcollege.org • Some colleges may request: CSS/Financial Aid Profile go onto www.collegeboard.com • Fill out Cal Grant GPA (paper form). Bring it to Mr. Gutierrez so he can sign it (A.S.A.P!!) • View Cal Grant Channel/videos on www.csac.ca.gov & on www.youtube.com key words “fafsa tutorial” = line by line from Educationquest & UCSBFinAid, view over winter break!!

  24. Questions/Comments

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