1. Financial Aid Overview

2. Three Basic Questions What is Financial Need?
What Types of Aid Are Available?
How do I Apply?

3. What is Financial Need? – Expected Family Contribution
Cost of Attendance
– Expected Family Contribution
= Financial Need

4. Cost of Attendance

5. Estimated Total Cost of Attendance
Living On Campus
California State University (CSU)
CSULB
University of California (UC)
UCLA
California Independent College
USC
Fees/Tuition
$6,738
$12,685
$43,722
Books and supplies
$1,666
$1,521
$1,500
Room and board
$11,300
$14,208
$12,440
Other
$4,072
$3,585
$2,171
TOTAL
$23,776
$31,999
$59,883

6. What is Financial Need? – Expected Family Contribution
Cost of Attendance
– Expected Family Contribution
= Financial Need

7. EFC Amount family can reasonably be expected to contribute
Two components
Parent contribution
Student contribution
Calculated using data from the FAFSA
Stays the same regardless of college

8. Estimated Total Cost of Attendance
Living On Campus
California State University (CSU)
CSULB
University of California (UC)
UCLA
California Independent College
USC
Cost of Attendance
$23,776
$31,999
$59,883
EFC
$500
Financial Need
$23,276
$31,499
$59,383

9. What are the different types of financial aid?

10. Types of Financial Aid Scholarships Grants Employment (Work Study)
Loans

11. Scholarships Money that does not have to be paid back
Usually funded by private companies or foundations
Awarded on the basis of merit, skill, or unique characteristic
May or may not have income and/or GPA requirements

12. Grants Money that does not have to be paid back
Usually awarded through federal or state government
Usually do have income and GPA requirements

13. Employment / Work Study
Allows students to earn money to help pay educational costs
Usually has income requirement
Benefits vs. Part Time Job Off Campus
Higher pay
Flexible schedule
On campus

14. Loans Money students and parents borrow to help pay college expenses
Repayment usually begins after education is finished
No income or GPA requirements

15. What are some of the financial aid offers students are likely to receive?

16. Pell Grant Awards up to $5,550 For low income undergraduate students
Can be used at many schools throughout the USA
Awarded based on financial need
Apply using the FAFSA

17. Cal Grant Cal Grant A Cal Grant B
Pays state fees at UC & CSU
Awards up to $TBD for California Private Colleges
Cal Grant B
Awards up to $TBDfor California Private Colleges
Also awards additional living stipend($1,500)
Both have income and GPA requirements
Apply using the FAFSA and GPA Verification Form by March 2nd

18. Cal Grant in reserve
Students can apply for a Cal Grant to be held in reserve while they attend a California community college
Grant is held for three years

19. The California Middle Class Scholarship

20. The California Middle Class Scholarship
Starts in for undergraduate students who are:
Attending a CSU or UC campus
From families with income up to $150k
U.S. citizens, permanent residents or AB 540 eligible
California residents

21. MCS – How it fits in… Cal GRANT A and C Cal GRANT B $150,000 $120,000
$90,000
$60,000
$30,000 $0
Up to 40% fee reduction*
Cal GRANT A and C
Covers up to 100% of tuition/fees**
Cal GRANT B
May cover up to 100% tuition/fees and some living expenses**
ANNUAL FAMILY INCOME
* When fully funded.
** Based on income levels, family of four.

22. The California Middle Class Scholarship
How much can students get?
Up to 40% of mandatory system-wide fees for students whose annual family income is up to $100,000
No less than 10% of mandatory system-wide fees for students whose annual family income is between $100,001 and $150,000

23. Student Loans
Subsidized = government pays interest while you are in school
Unsubsidized = interest accrues
Both loans begin payback after graduation
Low interest rates & very flexible payback plans.
Beware of PRIVATE PERSONAL LOANS!

24. Parent Loans Must pass credit check
May borrow up to total cost of attendance
Unsubsidized = interest accrues
Payback begins immediately
Low interest rates & very flexible payback plans.
Beware of PRIVATE PERSONAL LOANS!

26. Free Application for Federal Student Aid (FAFSA)
A standard form that collects demographic and financial information about the student and family
May be filed as early as January 1st of senior year

27. Official FAFSA Website
FAFSA-4Caster
FAFSA on the Web Worksheet:
Used as “pre-application” worksheet

28. Dependent or Independent?
You must answer Yes to at least one question to be considered an Independent student.

29. Who is considered a parent?
Biological or adoptive parent(s)
In case of divorce or separation, provide information about the parent and/or stepparent the student lived with more in the last 12 months
Stepparent (regardless of any prenuptial agreements)

30. California Dream Act Must be AB540 Eligible
Allows for students to apply for state funded aid including:
Cal Grant
Board of Governors Fee Waiver Grant
State University Grant (CSU)
Other Public Institution Awards

31. California Dream Application
DO NOT FILE A FAFSA
Complete California Dream Application at
Same deadlines and filing rules apply
March 2nd Cal Grant Deadline
Determine if Dependent or Independent Student
Deferred Action / DACA applicants should also file Dream Application

32. Scholarships

33. National Search Sites

34. University Websites

35. Local Scholarships

36. Questions?