California. Student Aid Commission. Financial Aid Basics
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- Bonnie Porter
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1 Financial Aid Basics
2 Our Agenda Introduction to types of Financial Aid Cal Grant Middle Class Scholarship Chafee Grant for Foster Youth Federal Aid Private/Institutional Aid The Applications Dependent vs Independent Student Expectations Guardian Expectations Cash for College Resources
3 Types of Financial Aid State Financial Aid Cal Grant Middle Class Scholarship Chafee Grant for Foster Youth CA Promise Grant (California Community College) Federal Financial Aid Grants Work Study (Not free money) Student Loans (Not free money) Private Private Scholarships Institutional aid Institutional Grants
4 Cal Grant A For students pursuing an associates or bachelors degree 3.0 or higher GPA Will pay for tuition and systemwide fees Cal Grant B Cal Grant B For students pursuing an associates, bachelors, vocational degree, or a certificate Cal Grant C 2.0 or higher GPA Pays a living allowance Will pay for tuition and systemwide fees after the first year For students pursuing technical or career education Provides aid for tuition, books, tools, and equipment
5 Middle Class Scholarship Enrollment Requirements Must be enrolled at a UC or CSU 1 st bachelor s degree Income $171,000 Assets $171,000 Must be enrolled at least ½ time Will cover no less than 10% and no more than 40% of the mandatory system-wide tuition and systemwide fees A completed FAFSA or CADAA is all that is needed
6 Chafee Grant for Foster Youth For students who were in foster care for at least 1 day between the ages of 16 and 18 and meet other eligibility requirements May be used for College Career/technical schools Living Expenses Entire Chafee Grant application To apply you must fill out a FAFSA or CADAA and a separate California Chafee Grant Application, found online at
7 Federal Aid Grants This is money that does not need to be paid back. Work Study Provides part time employment to eligible students, while they are enrolled in school Loans Borrowed money, you must pay back, with interest Go to studentaid.ed.gov to learn about different grants, and work study, and gain an understanding for the different kinds of loans.
8 Private/Institutional Aid Private scholarships This is free money that does not have to be paid back How to find these awards Scholarship Search Engines like Fastweb.com Bulletin boards Local businesses For more information, go to scholarships Institutional Aid Your college may offer you additional aid You just have to fill out your FAFSA or CADAA
9 Students need to apply between October 1 & March 2 to be eligible for a Cal Grant
10 Dependent vs. Independent A student will be considered Dependent of their parent(s), or guardian(s) that legally adopted them unless the student Will be 24 or older by Dec 31 of the school year being applied for Will be working toward a master s or doctorate degree Is married Is the primary support for dependents they have Was in foster care or a ward of the court anytime since age 13 Is emancipated, homeless, or at risk of being homeless Is serving on active duty in the US armed forces Is a veteran of the US armed forces.
11 Student Expectations Create a FSA ID FSAID.ed.gov Fill out either the FAFSA or CADAA by March 2 Sign and submit the application Create a WebGrants for Students (WGS) account mygrantinfo.csac.ca.gov Make sure your GPA was submitted by your high school (Before March 2 nd ) in your WGS account (starting Oct 1 st ) Select the college you will be attending in your WGS account (starting in February) Verify your graduation date in your WGS account (after graduation)
12 Parent/Guardian Expectations Create an FSA ID (US Citizen or eligible noncitizen) FSAID.ed.gov Input financial information (FAFSA or CADAA) Sign the FAFSA (Using the FSA ID) or CADAA
13 Visit to search for Free Cash for College Workshops
14 Resources Cal Grant FAFSA CA Dream Act FSAID fsaid.ed.gov
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