FINANCIAL AID UC Santa Cruz, Cabrillo and Cal State Monterey Bay Present

EVERYONE HAS THE ACCESS TO ATTEND COLLEGE OR TRADE SCHOOL YOU HAVE THE CHOICE OF WHICH SCHOOL TO ATTEND Purpose of Financial Aid

What is financial aid? Money to pay for college or career school  Grants  Loans  Work-study  Scholarships

Who can get federal student aid? U.S. citizen or permanent resident High school graduate/GED holder Enrolled in eligible degree/certificate program Valid Social Security number Males registered for Selective Service Maintaining Satisfactory academic progress

Not eligible for federal student aid? You may be eligible to complete the California Dream Application To qualify for California and public financial aid through AB130 and AB131, including undocumented students, must:  Be AB 540 eligible;  Have or will graduate from a California high school or have attained a G.E.D.; or received a passing mark on the California High School Proficiency Exam (CHSPE);  Register or be currently enrolled at an accredited institution of higher education in California;  Not hold a valid non-immigrant visa (F,J,H,L,A,B,E, etc.);  Demonstrate financial need and meet all other program requirements. Go to: to applyhttps://dream.csac.ca.gov/

How much federal student aid can I get? Depends on your financial need. Financial need is determined by Expected Family Contribution (EFC) and Cost of Attendance (COA) EFC comes from what you report on the FAFSA COA is tuition, fees, room and board, transportation, etc. COA – EFC = financial need

How much federal student aid can I get? Example: first-year student in Maximum amounts allowed: Federal Pell Grant: $5,645 in Direct Subsidized and Unsubsidized Loans: $5,500 total Federal Perkins Loan: $5,500 Federal Supplemental Educational Opportunity Grant: $4,000 Federal Work-Study: depends on funds available at school Direct PLUS Loan (for parents): COA minus other aid received

How do I apply for aid? Federal student aid: fill out Free Application for Federal Student Aid (FAFSA) at State aid: Send GPA verification form to CSAC School aid: contact financial aid office at schools you are considering Scholarships: visit scholarship website or call contact number for information

FAFSA on the Web Website: –15 FAFSA on the Web available on January 1, 2014 FAFSA on the Web Worksheet:  Used as “pre-application” worksheet  Questions follow order of FAFSA on the Web

FAFSA on the Web Good reasons to file electronically: Built-in edits to prevent costly errors Skip logic allows student and/or parent to skip unnecessary questions Option to use Internal Revenue Service (IRS) Data Retrieval Tool

Federal Student Aid Personal Identification Number (FSA PIN) Website: Sign FAFSA electronically Not required, but speeds processing May be used by students and parents throughout aid process, including subsequent school years

Student Dependency Status FAFSA asks questions to determine status: If all “No” responses, student is dependent If “Yes” to any question, student is independent

Information About the Parents of Dependent Students Tax, income, and other financial information Dislocated worker status Assets

Frequent FAFSA Errors Social Security Numbers Divorced/remarried parental information Income earned by parents/stepparents Untaxed income U.S. income taxes paid Household size Number of household members in college Real estate and investment net worth

FAFSA Processing Results Central Processing System (CPS) notifies student of FAFSA processing results by: Paper Student Aid Report (SAR) if paper FAFSA was filed and student’s address was not provided SAR Acknowledgement if filed FAFSA on the Web and student’s address was not provided

FAFSA Processing Results Institutional Student Information Record (ISIR) sent to colleges listed on FAFSA approximately 10 to 14 days after FAFSA submitted College reviews ISIR  May request additional documentation, such as proof that a sibling is enrolled in college

Making Corrections If necessary, corrections to FAFSA data may be made by: Using FAFSA on the Web ( if student has a PIN; Updating paper SAR (SAR Information Acknowledgement cannot be used to make corrections); or Submitting documentation to college’s financial aid office

Special Circumstances Change in employment status Medical expenses not covered by insurance Change in parent marital status Unusual dependent care expenses Student cannot obtain parent information

What happens next? Overview