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Welcome Students Ayuda Financiera y AB-540
presentada por Valentin Garcia- Cal-SOAP
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What is Financial Aid? Loans
Ayuda Financiera y AB-540 What is Financial Aid? Funds which are available to help pay the cost of higher education Funds are distributed in the following way: Local, State, Private or Institutional Scholarships and Cal-Grants, Free Money Offers students the opportunity work in a job on or off campus Work Study OR Funds available for students and/or parents which must be paid back Loans presentada por Valentin Garcia- Cal-SOAP
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What is a Cost of Attendance?
An estimate of how much it will cost to go to the specific college. Standard Costs Tuition & fees Room & board Books & Supplies Transportation Miscellaneous personal expenses Note: Costs vary for each school
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How much federal student aid can I get?
In general, depends on your financial need. Financial need determined by Expected Family Contribution (EFC) and cost of attendance (COA) EFC comes from what you report on FAFSA(Free Application for Federal Student Aid) OR CA Dream Act Application COA is tuition, fees, room and board, transportation, etc. COA – EFC = financial need EFC is determined by a formula that takes into account information such as the student’s and parents’ income and (often) their assets, how many people are in the family household, and how many of those people are in college. For a full explanation of the EFC formula, go to StudentAid.gov/resources#efc. Cost of attendance is determined by the school and may include: Tuition and fees Books, supplies, transportation, personal, miscellaneous Room and board Dependent care Study-abroad expenses Disability expenses Employment expenses for co-op study Loan fees For more information about cost of attendance, see the “Calculating Awards and Packaging” volume of the “Federal Student Aid Handbook” at Financial need is determined by subtracting the EFC from the COA. Because COA differs from school to school, a student’s financial need will also differ from school to school.
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How do I apply for Financial Aid?
Fill out the online form called FAFSA (Free Application for Federal Student Aid) OR fill out the online form, California Dream Act Application You must only apply to ONE; Submit an Application Conversion Form if you accidently do the wrong one. Application: October 1- March 2 Must apply every year while in school
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Do you qualify for the FAFSA?
Be a citizen or eligible noncitizen of the United States. You are an eligible non-citizen if: You are a permanent resident, have a green card, are a refugee, or victim of human trafficking. Have a valid Social Security Number. Have a high school diploma or a General Education Development (GED) certificate, or have completed homeschooling. Be enrolled in an eligible program as a regular student seeking a degree or certificate. Maintain satisfactory academic progress.
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Do you qualify for the CA Dream Act?
Attend a California high school for a minimum of three years or attained the equivalent of at least three years in elementary/middle school Graduate from a California high school or pass the California High School Proficiency Exam (CHSPE) Enroll in an accredited and qualified California college or university; and, If applicable, fill out an affidavit to legalize immigration status as soon as eligible Do not hold a valid non-immigrant visa Students must qualify for AB 540 status by turning in a “California Nonresident Tuition Exemption Request” to the school they plan on enrolling attending
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2018-19 California Dream Act Application UPDATES
Do not include your DACA SSN on your application. All males from yrs must register for selective services. Undocumented males must do so via mail. (see your counselor) Dreamer loan is still available but must inquire directly with your financial aid office.
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CAL-GRANT Federal Grants
Ayuda Financiera y AB-540 CAL-GRANT Government Funds which are available for students to help them pay the cost of a university You don’t have to pay it back!!! Federal Grants Federal Pell Grant: You don’t have to pay it back! Offered to students who have not received their first Bachelors of Arts $400 to $5,500 per year presentada por Valentin Garcia- Cal-SOAP
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Cal Grant A 3.0 GPA California resident Must need financial assistance
Ayuda Financiera y AB-540 Cal Grant A 3.0 GPA California resident Must need financial assistance Must be attaining a first degree. Pays up to 5 years. Pays for tuition and fees: $5,742 to $12,630 * If attending a CCC, money will be placed on hold * for selected 4yr schools only presentada por Valentin Garcia- Cal-SOAP
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First year = $1,672; Years 2,3,4= pays tuition from Cal Grant A +
Ayuda Financiera y AB-540 Cal Grant B 2.0 GPA, a California resident, must need financial assistance, be attaining a first degree, and first generation to attend college. Pays tuition and fees, books, living expenses, and transportation First year = $1,672; Years 2,3,4= pays tuition from Cal Grant A + $1,672 Pays 1 year for a Vocational Program Certificate or Associate degree minimum presentada por Valentin Garcia- Cal-SOAP
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Cal Grant C No minimum GPA California resident
Ayuda Financiera y AB-540 Cal Grant C No minimum GPA California resident Must need financial assistance Must be attending vocational school/Training Program Study must be at least 4 months up to 2 years of full time study Books and Supplies= $1,094 (if not attending CCC) Tuition & Fee= $2,462 (if not attending CCC) You will be notified if a supplementary application is necessary presentada por Valentin Garcia- Cal-SOAP
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https://mygrantinfo.csac.ca.gov/
Ayuda Financiera y AB-540 Cal Grant: To DO List Complete the FAFSA OR CA DREAM ACT Application Complete the GPA Verification Form (counselors will do this for you) Must submit on or before March 2 of every year Check status of application by creating an account on: You should receive notification from Cal Grant by April 30, if not call CA-GRANT presentada por Valentin Garcia- Cal-SOAP
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More Financial Aid Program Amount Notes
Federal Supplemental Educational Opportunity Grant (FSEOG) $100 - $4000 Given if Pell Grant is not enough Teacher Education Assistance for College & Higher Education (TEACH) Grant Up to $4000 For students who want to study to become an elementary or high school teacher Iraq & Afghanistan Service Grant Up to $5550 For students whose parents died serving in Iraq & Afghanistan Middle Class Scholarship UC: $5,5051 CSU: $2,298 Family incomes up to $165,000; CSU &UC students Chafee Grant Up to $5,000 For students in or were in foster care Blue and Gold Up to 4yrs FULLY paid Family income up to $80,000; UC students only There are two very broad categories of financial aid. One is called need-based. Remember the equation of COA – EFC = Need? If the EFC is less than the COA the student should be eligible for need-based aid. Make sure ALL your students apply for financial aid, not just those going to 4-year or expensive colleges. Students often fail to apply for aid at the community colleges and find out that they too need help paying for college. The federal government provides a range of need-based programs; they are listed here. Read and explain each program The Pell Grant is the largest Federal grant program. Pell is projected for FY is $5550 FSEOG- Federal Supplemental Education Opportunity Grant is projected to remain the same as FY2010 levels, so between $100 and $4000. TEACH President proposes to replace the TEACH grant program with new Presidential Teaching Fellows program Iraq & Afghanistan Service Grant--Equal to the maximum Pell Grant, though may not exceed COA Work study—a fixed amount allocated to each participating institution, each school will have its own rules for FWS Perkins Loan--President proposes to modify and shift Perkins loans into unsubsidized Direct Loan program Subsidized Direct Loan—Note this is for Graduate students only --Elimination of subsidized loans.
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Ayuda Financiera y AB-540 “Perkins” Loan Loans with low interest rates (5%) available for students who demonstrate financial need The University or College is the loaner and you start paying the loan 9 months after you graduate or end school $4,000 per year for a total max of $20,000 presentada por Valentin Garcia- Cal-SOAP
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Federal Stafford Loan 3.37%
Ayuda Financiera y AB-540 Federal Stafford Loan 3.37% SUBSIDIZED PAYMENT STARTS 6 MONTHS AFTER THE LAST DAY OF ATTENDANCE AND... UNSUBSIDIZED PAYMENT STARTS 6 MONTHS AFTER THE LAST DAY OF ATTENDANCE BUT... The federal government pays the interest on subsidized loans while you are in school and during the first six months after you graduate, withdraw, or enroll less than half-time. You’re responsible for paying interest that accrues OR let it accumulate while in college, but interest will be added to the amount you borrowed, and future interest will be based on the NEW higher loan amount. presentada por Valentin Garcia- Cal-SOAP
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Ayuda Financiera y AB-540 “PLUS” LOANS Loans that may be borrowed by parents to pay their students education if the student is still dependent and is enrolled in the school at lest half-time Plus Loans are unsubsidized PLUS loans have a variable interest rate, with a cap of 9 percent Interest starts to accrue immediately, with repayment beginning with in 60 says after the last day of attendance. presentada por Valentin Garcia- Cal-SOAP
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EOP Applications for low income & first generation college students
EOP can offer students: financial assistance, admission to university, academic and personal counseling, and campus resources. Application deadlines vary from campus to campus (most are by Nov. 30) Additional requirements: 2 recommendations and unofficial transcripts to EOP office of the college.
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CSS Profile Online application that collects financial information used by some colleges and scholarship programs to award institutional aid Some colleges require students to create a PROFILE (check college board for the list) Fee: $25 for application; $16 for additional reports ( Fee waivers available)
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Fsaid.ed.gov for FAFSA only
You and one parent need to create an FSAID You need a social security number Use a working Create a username and password Create security questions Now sign in to FAFSA.GOV
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EARLY FAFSA and CA Dream Act Application
October 1- March 2 START NOW BY: Setting up an appointment with your counselor or Ms. Perez Attend after school workshops (Tuesdays and Thursdays) BRING THE FOLLOWING: Parent’s/student’s 2016 tax return forms Parent’s birthdays Parent’s marriage/divorce/widowed date Your FSAID information (FAFSA)
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Be prepared by filling out the worksheet ahead of time.
Helpful hints…. Have your parent’s 2016 tax return on hand You may include up to 10 colleges/universities to receive your FA information, you can always go back and include more later. Make sure to choose that you’ll be “full time” when attending college. Choose whether or not you will be living on campus, with parent, or on your own. If your legal parent lives in another state or country you must report their income in dollars, IF you still have contact with them.
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2018-2019 Worksheet Helpful Hints continued….
6. When choosing which parents’ income to use consider the following: If your parents are now divorced but were married in 2016, include combined income. If parents were divorced in 2016 but now are married you need to combine their income. If your parents are divorced but still living together you must report combined income. If parents are divorced and living apart, which parent provides the most income to support you? If your divorced parent is now married, you must include both your parent’s and step parent’s income.
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Worksheet Helpful Hints continued…
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Upcoming Dates Application Workshops Starting October 3 every Tuesday and Thursday 3pm-4pm in career center SAT/ ACT Last chance to register is November 2 (SAT) November 3 (ACT) You must send all your scores! Send by October 20 Cal state apply-3594 Send to one UC UC Application Workshop October 9am Late start Career Center College Expo October 18 6pm-8pm John Glenn HS UCLA October 5 @ lunch in career center UC SAN DIEGO October 16 5th and 6th period in career center USC October Lunch
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