Financial Aid 101 A Financial Aid Workshop

Financial Aid 101 Financial Aid Programs Scholarships FAFSA on the web SAP and Appeal Process Timeframes and Deadlines

Financial Aid Programs  Gift Aid  Grants or scholarships that do not need to be repaid  Work  Money earned by the student as payment for a job on or off campus  Loans  Borrowed money to be paid back with interest

Primary Sources of Funding  Federal Government  State Government  Colleges & Universities  Private Agencies & Organizations

Need Based Grants  Pell Grant  CalGrant  Academic Competitiveness Grant  Supplemental Educational Opportunity Grant

Pell Grant  Federally funded grant  $2,775 maximum per semester (Summer, Fall, and Spring)  Amount based on EFC and enrollment status  Fall and Winter is considered as one semester  Requirements:  Submit a FAFSA  US Citizen or eligible non-citizen  High school graduate / GED / ATB test  For males, Selective Service registration  Must be enrolled in an eligible program

Cal Grant  Cal Grant B - $1,551  High school or college GPA of at least 2.0  Demonstrate financial need through FAFSA  File FAFSA by March 2 or September 2  4 years of eligibility – Save last 2 years for transfer  Cal Grant C - $576  Enrolled in a vocational or technical program  Demonstrate financial need through FAFSA  2 years of eligibility  File FAFSA by March 2 or September 2  Submit Supplemental form to CSAC  Provide Educational Plan to the Financial Aid Office

Academic Competitiveness Grant  A $750 grant is available to graduating high school students in their first and second year of college if they:  Completed a rigorous high school course of study, e.g., A-G College Prep or AP classes  Graduated high school in 2006 or later  Are eligible for Federal Pell Grant  Enrolled at least half time (6 units)  Second-year (completed 31 to 60 units) students who earned a 3.0 GPA in college and continue to meet eligibility requirements may receive up to $1,300

Supplemental Educational Opportunity Grant  $500 year grant  EFC = 0  Priority given to early applicants  Eligibility may differ each academic year

Federal Work Study  Full time enrollment required  Employment on campus  MLK Library  Administrative Offices  Academic Departments  Maximum 16 hours a week

Federal Student Loans  Subsidized Stafford Loan  The student must demonstrate “need” through FAFSA  $3,500 per year for students with less than 30 degree applicable units  $4,500 per year for students with 30 or more degree applicable units  The government pays the interest (5.6%) while student is enrolled at least half time (6 units)

Federal Student Loans  Unsubsidized Loan  Student needs to demonstrate “need” through FAFSA  $6,000 per year regardless of the number of units completed  The student is responsible for the interest (6.8%) while enrolled at least half time (6 units)

Board of Governor’s Fee Waiver  Paper Fee Waiver Form  Eligibility based on household size and income level  Automated Fee Waiver (through FAFSA)  Eligibility based on need BOGG waives the tuition fees for students who are determined by the Admissions Office to be California residents. BOGG applies to the 9 colleges within the Los Angeles Community Colleges District

Chafee Grant  The California Chafee Grant Program provides up to $5,000 annually to current and former foster youth for college or vocational training at any accredited college in the U.S.  Fill out FAFSA and the California Chafee Grant Application online.  Be enrolled at least half time (6units)  Maintain satisfactory academic progress  Demonstrate financial need  Must be verified as a foster youth between ages of 16 and 19  High School diploma not required  To learn more about the CHAFEE go to:

Scholarships  Are available from colleges, companies, community-based groups, and other agencies and organizations  Usually require separate applications  May require transcripts, an essay, an interview, or an audition  Beware of scholarship search companies that charge a fee  Check with your high school about scholarship opportunities  Use free scholarship searches

LACC Foundation Scholarships  Foundation and Departmental Scholarships  Applications available starting in February  Most of them need to be submitted by the end of March  Check the LACC Foundation website at   General Questions:

Scholarships Searches  First, begin with the college or university to which you are applying  Next, check with your or your parents’ employer and/or union  Call the Chamber of Commerce for scholarships offered by clubs and organizations in your community  Check out scholarship search engines:     

FAFSA on the Web  Apply online at  Tax and income information  Parents ’ information (if applicable)  Student ’ s PIN (and parents ’ if applicable)  Assistance at the FASTLab located in CH126

Financial Aid Process  Three Step Process:  Complete FAFSA application online  Submit documents to the Financial Aid Office:  Questionnaire/Ed Goal form  Picture ID  Verification Worksheet *  Income Tax Forms and W-2 *  Additional documentation may be required  Select disbursement option through myLACCDcard

Satisfactory Academic Progress (SAP)  To qualify for financial aid, a student must meet the following academic standards:  Cumulative GPA above 2.0  Complete at least 2/3 (67%) of all units attempted  Have attempted less than 90 units  Do not have an Associate degree or higher outside the LACCD  Submit an appeal along with an Educational Plan to be considered for reinstatement

Deadlines  Fall:  Appeal: December 3, 2010  Loans:December 3, 2010  Financial Aid Documents:December 17, 2010  Winter:  Appeal:January 21, 2011  Spring  Appeal:May 20, 2011  Loans:May 6, 2011  Financial Aid DocumentsJune 6, 2011

Timeframes General timeframes  Appealsat least 30 business days  2 nd and 3 rd level appealsup to 4 weeks  Loansat least 30 business days  Processing financial aid documentsusually 3 to 6 weeks  Replacing LACCD card (inactive)5 to 7 business days

Q&A