Financial Aid & SCHOLARSHIPS Presented by: Jazmin Vargas Financial Aid Specialist

SESSION DETAILS What is Financial Aid? Types/Sources of Financial Aid FAFSA or DREAM What You’ll Need Eligibility Requirements Understanding Financial Need Special Circumstances Scholarships

WHAT FINANCIAL AID OFFERS? ACCESS to funds to help pay for: 4 yr. public & Independent Colleges Community Colleges Private Career Colleges CHOICE among schools Choose the best academic, cultural, & social fit rather than the least expensive program

TYPES & SOURCES of AID Gift Aid (Federal, State, Independent) Grants or scholarships that do not need to be repaid Federal Work-Study (Federal) Money earned by the student as payment for a job on or off campus Loans (Federal & Private) Borrowed money to be paid back

WHEN DO YOU FILE? *MUST RE-APPLY for FINANCIAL AID EVERY ACADEMIC YEAR

or Cal DREAM Application 2018 – 2019 FAFSA or Cal DREAM Application Available beginning : October 1, 2017 – June 30, 2019 Priority Deadline: March 2, 2018

WHAT YOU’LL NEED Student Driver’s License (if applicable) Student Alien Registration Card (if applicable) Student & Parent: Social Security cards 2016 W-2s 2016 Federal Tax Returns Records of Untaxed Income Asset info

WHICH APPLICATION DO I FILE? FAFSA DREAM U.S Citizen or eligible non- citizen Social Security Card or Alien Registration Card Eligible for Federal & State funding Eligible for AB540 status No Social Security Card/ DACA status – SS card says “For Work Purposes Only” Eligible for State funding *DO NOT Fill Out Both Applications

FEDERAL ELIGIBILITY Be a U.S. Citizen or Eligible non-citizen H.S. Diploma , GED, or equivalent Enroll in an eligible program Register for Selective Service (males ages 18-25 yo) No drug convictions

FSA ID www.fsaid.ed.gov Username & Password used to electronically sign FAFSA Both Student & Parent signature required Separate email addressed needed Paper signature available If parents do not have a SSN

APPLYING for FAFSA www.fafsa.gov

APPLYING for CA DREAM ACT www.caldreamact.org

CA DREAM ACT Allows students who meet AB 540 criteria to Apply for & receive institutional grants Apply for & receive a BOGFW at the California Community Colleges Apply for & receive state financial aid, including Cal Grant & Chafee Foster You Grants

CAL GRANTS Cal Grant A Entitlement Awards – for students with a Grade Point Average (GPA) of at least 3.0, family income and assets below the state ceilings, and who demonstrate financial need and are attending a 4 year University. Cal Grant B Entitlement Awards – for students from disadvantaged or low income families with a GPA of at least 2.0, family income and assets below the state ceilings, and who demonstrate financial need Cal Grant C Awards - for students from low income families pursuing vocational programs of study

THE “SECRET” FORMULA… Cost of Attendance (COA) - Estimated Family Contribution (EFC) = STUDENT’S FINANCIAL NEED COA varies by school FAFSA EFC

HOW the FORMULA WORKS CC CSU UC Private Cost $18,200 $24,958 $47,464 $65,700 EFC - 500 - 500 - 500 - 500 Need $ 17,700 $24,458 $46,964 $65,200 In the best of all possible worlds, full “need” will be met with a financial aid package made up of grants and scholarships along with reasonable amounts of work and loan. Some schools are not able to meet full need.

AWARD TYPES Pell Grant (Up to $5,815 max) Supplemental Education Opportunity Grant (SEOG) Board of Governor’s Fee Waiver (BOGWF) State University Grant (SUG) Cal Grant Chafee Grant Middle Class Scholarship Work-Study Program Loans (Sub, Unsub, PLUS)

WHAT IS THE NET PRICE?

HOW to DETERMINE the BEST “OFFER” Look at “out of pocket” costs (incl. student loans & Parent PLUS Loans) Make sure institution has the correct Major (course of study) Make sure the student/parent is comfortable at the campus & surrounding area

SPECIAL CIRCUMSTANCES Change in dependency? What if I can’t get my parent’s information? Contact your Financial Aid Office ASAP to discuss your situation

SPECIAL CIRCUMSTANCES Change in Income? What if my parent’s income or household size has changed? Contact your Financial Aid Office ASAP to discuss your situation

SUMMARY of FA PROCESS Complete FAFSA or DREAM application by March 2nd deadline! Make sure Cal Grant GPA Verification Form submitted by March 2nd Review the electronic Student Aid Report (SAR)/Make any corrections Follow up with each college/submit all requested forms ASAP Check email for Financial Aid Award Notifications Complete the process EVERY YEAR by March 2nd priority processing deadline to receive the best financial aid award possible ASK QUESTIONS!

TOP REASONS STUDENTS DON’T APPLY FOR SCHOLARSHIPS I don’t know where to look for scholarships There’s nothing special about me I’ll never win, so what’s the point? My parents make too much money My G.P.A isn’t high enough I’m not a good writer I don’t have time

TOP REASONS WHY YOU SHOULD APPLY FOR SCHOLARSHIPS College costs a lot more than it used to It won’t cost you anything, but your time You will graduate with less debt (or no debt at all!) You can worry less about having to work You can focus more on your studies It’s FREE money!!!

SEARCHING for SCHOLARSHIPS Things to consider: Your family Lifestyle Interests Hobbies Medical Status Religion College Major Career Aspirations

WHERE TO LOOK FOR SCHOLARSHIPS Start with your immediate social network High School Parent’s Employer/your Employer Church or Religious organization City Organizations Free Scholarship Search Engines: www.fastweb.com www.latinocollegedollars.org www.finaid.org

QUESTIONS???