1. financial aid
Shasta College TRIO
What you need to know

2. What is Financial Aid? Financial aid consists of funds such as:
Scholarships, Grants, Loans and Work-Study
These are provided to students and families to help pay for postsecondary educational expenses.
What is Financial Aid?

3. What is Expected Family Contribution (EFC)
The Amount a family can reasonably be expected to contribute
Stays the same regardless of college
Two components:
Parent contribution
Student contribution
Calculated using data from a federal application form and a federal formula

4. What is financial need? Cost of Attendance
– Expected Family Contribution
_______________________________
= Financial Need

5. FAFSA (on the web) https://studentaid.ed.gov/sa/
2019–20 FAFSA available October 1, 2018
Most colleges set FAFSA priority filing deadlines
2017 Tax Data

6. Sources of Financial Aid
Types of Financial Aid
Gift Aid
Self-Help Aid
Scholarships
Grants
Loans
Employment
Sources of Financial Aid
Federal Government Aid
(Pell Grant)
State Aid
(Cal Grants)
Colleges & Universities
Private

7. Types (Awarded after submitting FAFSA)
Pell Grant
CAL Grant
Middle Class
Work Study
Loans
Covered in Next Slide
Pell Grants – Based on EFC
Automatic with eligibility
maximum annual award amount $6,095
The Middle Class Scholarship provides students with family incomes and assets up to $171,000 a scholarship to attend (UC) or (CSU) campuses.
Federal dollars paid in exchange for part- time employment in designated jobs
School comes first
Federal Direct Loans
Subsidized or Unsubsidized
Freshman Annual Loan Limit = $5500
Interest Rate = 5.05%

8. Cal Grant A, B and C Cal Grant A Cal Grant C Cal Grant B
A Cal Grant is money for college you don’t have to pay back.  To qualify, you must apply for the FAFSA or CADAA by the deadline and meet the eligibility and financial requirements as well as any minimum GPA requirements. Cal Grants can be used at any UC, CSU or California Community College, as well as qualifying independent and career colleges or technical schools in California.
Cal Grant A
Cal Grant C
Cal Grant B
, Cal Grants are up to $12,630 at a UC, up to $5,742 at a CSU, and up to $9,084 at Independent colleges
GPA requirement. If you’re applying using your high school GPA, you must have at least a 3.0 GPA; if applying using your college GPA, you must have at least a 2.4 GPA
Requires that your course of study leads directly to an associate or bachelor’s degree, or transfer from a community college to a bachelor’s degree program
Assists with the costs of a technical or career education
Provides up to $1,094 for books, tools and equipment—and up to $2,462 more for tuition and fees if you will be attending a school other than a California Community College (community colleges do not charge tuition and your fees will be waived as a Cal Grant recipient)
is available for a maximum of two years
Provides a living allowance of up to $1,672, in addition to tuition and fee assistance after the first year, at a two- or four-year college
When renewed or awarded beyond your first year, you’ll receive the living allowance as well as a tuition and fee award (up to $12,630 at a UC campus, up to $5,742 at a CSU campus and up to $9,084 at independent colleges
requires at least a 2.0 GPA

9. FSA ID Apply at https://fsaid.ed.gov/npas/index.htm
- Used for FAFSA completion (Electronic signature) - Student & parent need an fsa id (May be used by students and parents throughout financial aid process, including subsequent school years)
Apply at

10. Dependent or Independent Status: Question
If the answer to all is NO – they’re Dependent
If the answer to ANY is YES – they’re Independent
Born before Jan. 1, 1996
Veteran
Active duty - Military
Married
Children or other dependents
Both parents deceased
Foster care past age 13
Dependent/ward of court past age 13
Legal guardianship
Emancipated minor
Homeless or at risk of homelessness
Graduate student .

11. Parent Information on the FAFSA
Who is my parent when it comes to the FAFSA?
If parents are living together, regardless of marital status, include their combined financial information
If parents are divorced or separated, include the financial information for the parent you lived with more during the past 12 months. If that parent is remarried, you must include your stepparent’s financial information
Grandparents, foster parents, and legal guardians are NOT considered parents unless they legally adopted you

12. What information is needed on the FAFSA
2017 Taxes, Income information, benefit summaries
Asset information
NOT 401(k) or IRA balances
NOT the value of your primary residence
Untaxed income such as child support received

13. IRS Data Retrieval Tool
Important! You will not see the actual IRS data on the IRS website or inserted into the FAFSA. – due to security issues, this information will be encrypted and not viewable on the IRS DRT site or on the FAFSA.

14. What happens after you file?
A summary of your application is created for your review & sent to your selected schools electronically
Summary is called a Student Aid Report (SAR)
Students with FSA IDs may view SAR online at fafsa.gov
If schools require further information or documentation, they will contact the student directly
Make sure students know how each school communicates with them
FERPA
Watch for award notifications
Many schools won’t begin awarding aid for until late December or January.
What happens after you file?

15. Thank You Kelsey Moynahan 530-410-2941 kmoynahan@ShastaCollege.edu
Shasta College TRIO Upward Bound
Assistant Director