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 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 10-11th

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)

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

Cal Grant C

Awarded to Technical/Vocational Award amount up to $547 for

books and toolsUp to $2,462 if attending a non-

community 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 USCCost 1,104 5,472 13,200 45,602EFC - 1000 -1000 -1000 -1000Need =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%

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

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-Americanwww.collegeexpo.comwww.uncf.orgwww.collegescholarships.orgwww.blacknews.com

Asianhttp://www.apiasf.org/www.asianreporter.comwww.collegescholarships.orgwww.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 BDependent & Independent Students w/ dependents other than

spouse Family size: Six or more: $101,000 $55,500Five: $93,700 $51,400Four: $87,400 $45,900Three: $80,400 $41,300Two: $78,500 $36,700

Independent StudentsSingle, no dependents: $32,000 $32,000Married, 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 2nd 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.org6. Some colleges may request: CSS/Financial Aid Profile go

onto www.collegeboard.com7. Fill out Cal Grant GPA (paper form). Bring it to Mr. Gutierrez

so he can sign it (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!!

Questions/Comments