1. Financial Aid Basics
The REAP Scholarship is just one way your child can get help to pay for college. There is a lot of help out there!
When your child is a senior in high school, he/she will apply for financial aid to help with the costs of college.
You and your child will complete a form called the FAFSA (Free Application for Federal Student Aid) in order to apply for this help. This form is completed each year your child attends college.

2. Financial Aid Basics
Once the FAFSA is complete, colleges will calculate what is called an EFC (Expected Family Contribution).
The EFC is the amount of money a student and his/her family is expected to provide towards the cost of college for that school year.
For most families with a low income, the EFC is a very low amount and often is $0.

3. Financial Aid Basics
Once colleges have the information from the FAFSA and they know your EFC, they will put together a financial aid package that usually consists of:
Grants
Loans (Student and Parent)
Scholarships
And possibly Work-Study

4. Financial Aid Basics Grants
Money that is provided by the government to help pay for college
It does not usually have to be paid back
Some grants come from the state of California and some come from the federal government

5. Financial Aid Basics Loans
Student Loans—your child may be offered the opportunity to take out low-interest loans to help pay for college
Parent Loans—your child’s financial aid package may also include the opportunity for parents to take out low-interest loans to help pay for college
It’s important to know that loans can be an important way to help pay for college, but
students do NOT have to accept loans as
part of their financial aid packages.

6. Financial Aid Basics Scholarships
Colleges often have scholarships that they can award as part of a financial aid package
Many of these scholarships are awarded to students who have good grades
There are also MANY scholarships that students may apply for separately to help pay for college.
Part of the requirements of the REAP program is that students are actively looking for scholarships
above and beyond the REAP scholarship to
help pay for college.

7. Financial Aid Basics Work-Study
Many colleges include work-study as part of a financial aid package
Work-study allows students to get a job that is usually on-campus so that they can EARN money to help pay for college

8. Financial Aid Basics California DREAM Act
Some students may have a residency status that allows them to apply for financial aid through the California DREAM Act.
By applying for financial aid this way, these students are eligible for most of the financial aid that we discussed tonight.