FAFSA = FREE APPLICATION FOR FEDERAL STUDENT AID
•Mandatory application for federal and state aid
•No cost to apply (includes submitting information to six schools of your choice)
•For public and private schools
•Filing period Begins January 1
If you plan to submit your FAFSA online, you (and one of your parents) can request a PIN from the U.S. Department of Education. With a PIN you can apply and “sign” the FAFSA online, check the status of your submitted FAFSA, and make corrections.
This tool will help you gather the information needed on the official FAFSA.
College and state deadlines tend to be earlier than the federal deadline (many are as early as February or March) and may require an application in addition to the FAFSA. Play it safe—collect these dates and information early.
Step 4: Access FAFSA on the Web
Complete your FAFSA on the Internet. Apply as soon as you can (after January 1) because funding can be awarded on a first-come, first-served basis.
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A. TERMS
FAMILY CONTRIBUTION
•Money a family is expected to pay
• Remains constant regardless of cost
GRANT
•Money provided that does not have to be repaid
WORK STUDY
• Campus job to defray school costs
LOAN
•Low, simple interest student loans are available which do not have to be repaid until six months after the student completes school
•Loans are also available from lending institutions and the federal government, for example, at various rates and payback plans
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B. TYPES OF FINANCIAL AID
FEDERAL (PELL GRANT)
• Does not have to be repaid
• For undergraduates with exceptional need
• Everyone who completes a FAFSA form will be evaluated for eligibility
To be eligible for a Cal Grant, students must have their Social Security Number on file at their local high school. It is imperative, therefore, that Social Security Numbers are correct.
Cal Grant A
•Helps high-achieving, low- and middle-income students who demonstrate financial need pay their college tuition and fees
•Funding is available for up to four years for baccalaureate candidates and five years for teaching credential candidates
Cal Grant B
•Provides a living allowance and tuition and fee support to very low-income, disadvantaged students
•First year recipients normally receive only a living allowance
•Funding is available for up to four years for baccalaureate candidates and five years for teaching credential candidates
Cal Grant C
•Provides tuition and fee grants, and funds for supplies for students training for vocational careers
•Funding is available for up to 24 months, depending on the length of the program
LOCAL (SCHOLARSHIPS)
• A large variety of scholarships are available based on need and/or merit
• Advertised in Senior Newsletter which is distributed to English and Social Studies classes
SCHOOL-BASED
• Colleges and Universities offer their own financial awards based on merit and/or need
• Check with college Financial Aid Office for details
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C. NOTIFICATION OF AWARD
• Verification of data arrives in February – March
• Financial Aid award arrives in April – May
PLEASE REMEMBER TO FILE ALL FORMS ON TIME AND KEEP COPIES!
(Cal Grant information provided by the California Student Aid Commission)
For California Dream Act Financial Aid information, go to: www.caldreamact.org and refer to flyer below.