FINANCIAL AID INFORMATION

Can everyone afford to go to college? YES! With the help of scholarships, grants, and loans, anyone can afford to go to college!

TYPES OF FINANCIAL AID Grants. Think of a grant as the ultimate graduation gift, because you don't have to pay

it back. Pell Grants (federal aid) are awarded to low-income students and Federal

Supplemental Educational Opportunity Grants (SEOG) are for low-income students with exceptional financial need.

Cal Grants (state aid) are free money guaranteed to every high school senior that applies on time and meets income, eligibility and GPA requirements.

Work-Study. Work at a part-time job that may help you with a career, and use the earnings to help finance your education.

Scholarships. Free money for college, usually based on your area of study or merit, such as good grades, high test scores, athletic, musical or other special talents, community service and sometimes financial need.

Loans. Federal loans are low-interest loans that come in all shapes and sizes. Perkins Loans are administered by the college and are for students with exceptional

financial need. Subsidized Stafford Loans are available to students who meet financial requirements

and are attending school at least half-time. With this loan, the government pays the interest from when you get the loan money until up to six months after you leave school. An unsubsidized Stafford Loan is available to any student regardless of financial need, but the student pays the interest.

PLUS Loans are available for the parents of students attending college.

SCHOLARSHIPS: “Free money” Offered by people/organizations:

Businesses or companies (Coca Cola, Coxkidsfoundation.org)

Individuals (Gates Millennium) gmsp.org Colleges or universities Foundations (SD Foundations Community) Religious organizations Sports teams Employers

Conditional scholarships Some scholarships are based on something

you already did (like write an essay) and the award has already been earned (“one-time” scholarship)

Other scholarships are based on something you must continue to do in the future to receive the award. For example, if the scholarship is for students

earning a certain GPA who are planning on majoring in a specific field of study, you must maintain that GPA in college and stick with that major.

Qualifications for scholarships Scholarships can be received for many reasons. They

can be based on things you do, or who are you. Earning a certain GPA Participating in a certain sport/club Being of a certain ethnicity (Hispanic scholarship fund)

hsf.net Volunteering for various organizations Writing an essay, poem, etc. Doing a speech Being the first in your family to attend college Having parents who work for a certain company Creating an original design Writing a song

Receiving money from scholarships

Depending on the amount and origin of the scholarship, you may either receive the money in two ways.

It can either be given directly to you for you to spend appropriately for educational purposes (usually a small amount)

It can be sent directly to the college you will be attending for them to apply toward your tuition, in which case you will not receive the money directly.

CAL GRANTS www.calgrants.org

Cal grants are free money for college that does not have to be paid back and may be used at any qualifying college in California. Depending on which Cal Grant you receive, the money can be used for tuition, fees, books, supplies, housing, food and even transportation expenses to and from classes.

CAL GRANT ELIGIBILITY

If you are a California graduating high school senior or recent graduate, or just got your GED, and meet academic, financial and eligibility requirements and submit two forms by the Cal Grant deadline then you may qualify for a Cal Grant for college or career or technical school.

CAL GRANT QUALIFICATIONS Submit the FAFSA and your verified Cal Grant GPA by the deadline Be a U.S. citizen or eligible non-citizen (your parents don’t need to

be citizens or eligible noncitizens) Be a California resident when you graduated from high school Have a Social Security number Attend a qualifying California college Not have a bachelor’s or professional degree (except for Cal Grant

A and B extended awards for a teaching credential program) Have financial need based on your college costs Have family income and assets below the established ceilings Meet any minimum GPA requirements Be in a program leading to an undergraduate degree or certificate Be enrolled at least half time Have registered with U.S. Selective Service (most males) Not owe a refund on a state or federal grant, or be in default on a

student loan

TYPES OF CAL GRANTS CAL GRANT A CAL GRANT A COMPETITIVE AWARD CAL GRANT B CAL GRANT B COMPETITIVE AWARD CAL GRANT C Cal Grant A and B Competitive Awards

are for students who aren't eligible for the Entitlement awards. The main difference is that these awards are not guaranteed.

CAL GRANT A Cal Grant A Entitlement awards can be

used for tuition and fees at public and private colleges as well as some private career colleges. At CSU and UC schools, this Cal Grant covers systemwide fees up to $4,026 and $7,788, respectively. If you are attending a private college, it pays up to $9,708 toward tuition and fees. To get this Cal Grant, you need to be working toward a two-year or four-year degree.

CAL GRANT B Cal Grant B Entitlement awards provides

low-income students with a living allowance and assistance with tuition and fees. Most first-year students receive an allowance of up to $1,551 for books and living expenses. After the freshman year, Cal Grant B also helps pay tuition and fees in the same amount as a Cal Grant A. For a Cal Grant B, your coursework must be for at least one academic year.

CAL GRANT C Cal Grant C awards help pay for tuition

and training costs at occupational or career technical schools. This $576 award is for books, tools and equipment. You may also receive up to an additional $2,592 for tuition at a school other than a California Community College. To qualify, you must enroll in a vocational program that is at least four months long at a California Community College, private college, or a career technical school. Funding is available for up to two years, depending on the length of your program.

Cal Grant A Competitive Awards

These are for students with a minimum 3.0 GPA who are from low-and middle-income families. These awards help pay tuition and fees at qualifying schools with academic programs that are at least two years in length.

Cal Grant B Competitive Awards These are for students with a minimum 2.0 GPA who

are from disadvantaged and low-income families. These awards can be used for tuition, fees and access costs at qualifying schools whose programs are at least one year in length. If you get a Cal Grant B Competitive Award it can only be used for access costs in the first year. These costs include living expenses, transportation, supplies and books. Beginning with the second year, you can use your Cal Grant B Competitive Award to help pay tuition and fees at public or private four-year colleges or other qualifying schools.

LOANS www.studentaid.ed.gov

Federal Stafford loans are the most common loans.

There are two types: subsidized loans and unsubsidized loans.

You may receive both types at the same time, as long as you are enrolled at least half time.

SUBSIDIZED STAFFORD LOANS

Subsidized Stafford loans are awarded based on financial need.

The federal government pays the interest while you’re in college and during the six month grace period after you graduate.

UNSUBSIDIZED STAFFORD LOANS

Unsubsidized Stafford loans are for all eligible students, and do not have to show a financial need.

You are responsible for paying all the interest on the loan, but you can allow it to accumulate while you’re in college and during the grace period. If you do, the interest will be added to the amount you borrowed when repayment begins.