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 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.
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..
Work- Study Programs Federally and college funded Earn money Work on or off campus to help pay for college Related to course of study
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
California/State Aid Cal Grant (A) Requires a 3.0 GPA minimum during 10-11 th 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)
Cal Grant B Requires 2.0 GPA minimum during 10 th -11 th grades- Not on weighted scale & Excludes PE Amount Awarded $1,473 Stipend 1 st year Typically Living Allowance 1 st year 2 nd year and on you receive Living Allowance +Tuition and Fees at UC and CSU; and up to $9,084 Private University
Cal Grant C Awarded to Technical/Vocational Award amount up to $547 for books and tools Up to $2,462 if attending a noncommunity college for tuition/fees
Federal Money(FAFSA) Federal Pell/FSEOG Grants Financial Need Formula Cost of attendance - Expected family contribution =Financial Need Award $750-$5,645
Expected Family Contribution El Camino CSLB UCLA USC 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!
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
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
Other Federal Loans 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 Federal PLUS Loans Intended for parents Never subsidized Interest begins accruing immediately Current interest rate 6.41%
California Resident Requirements 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
Private Scholarships Extra curricular activities Good grades Local Scholarships Companies/Organiz. www.gmsp.org Gates/Mill. www.fastweb.com www.schoolsoup.com www.collegeboard.com www.finaid.org www.gocollege.com
Scholarships Cont. African-American www.collegeexpo.com www.uncf.org www.collegescholarships.org www.blacknews.com Asian http://www.apiasf.org/ www.asianreporter.com www.collegescholarships.org www.asianscholarship.org
Scholarships Cont. 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
Income and Asset Ceilings 14-15 Income Cal 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
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!
DEADLINES March 2 nd for initial awards Cal Grant submitted by March 2nd Students responsible for submission of Free Application For Federal Student Aid (FAFSA)
Homework! Yes Homework! 1. Establish PIN # at www.pin.ed.gov now! The PIN # is used to electronically sign FAFSA! Need SSN#. 2. Begin FAFSA www.fafsa.ed.gov on 01-01-14. 3. 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. 4. Bring questions! Otherwise will have to do it on your own. 5. Cash for College Super Saturday 2-01-14, scholarships/fill out fafsa for ALL! Find location on www.lacashforcollege.org 6. Some colleges may request: CSS/Financial Aid Profile go onto www.collegeboard.com 7. Submit your Cal Grant GPA Information Release Form to Counseling Office Secretary Lorri Peterson A.S.A.P!! 8. 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!!
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