(Adapted from www.icanaffordcollege.com)

All students who may need financial assistance for college are encouraged to apply for aid. Even those who think they may not be eligible may be surprised. So be sure to apply.  Aid comes in the form of grants and waivers, aid that you don’t have to repay, and loans, that you do have to repay.

To apply for federal, state and college financial aid programs, you need to complete the Free Application for Federal Student Aid (FAFSA). For the Cal Grant program you must submit a verified Cal Grant GPA by March 2nd. Some colleges may also request additional documents such as tax returns to complete your financial aid file, so you should respond quickly to all requests made by a campus financial aid office.

About two-thirds of all student financial aid comes from the federal government and is based solely upon financial need, not grades or class rank. Other aid programs are funded by the state, institutions, and private organizations. Financial aid comes in several forms, including:

Board of Governor’s Fee Waiver Program

The Board of Governors Enrollment Fee Waiver (BOGW) Program waives enrollment fees for qualified students for the entire school year. Students may receive a waiver for any number of units, with no minimum. You qualify if you have some financial need, receive Temporary Assistance to Needy Families (AFDC/TANF), Supplemental Security Income/SSP or General Assistance and those who meet certain income standards.

There is no deadline to receive a fee waiver.  As long as you are still enrolled in classes, you can apply!  Most students receive a BOGW by filling out a FAFSA.  If you have difficulty with the FAFSA or are unable to fill it out, contact your financial aid office.  They can help, and you may still be able to receive a BOGW.

Grants

Grants are a form of financial aid that doesn’t have to be paid back (unless you withdraw from school and owe a refund by agreement).

Federal Pell Grant
(Adapted from www.studentaid.ed.gov)

A Federal Pell Grant, unlike a loan, does not have to be repaid. Pell Grants are awarded usually only to undergraduate students who have not earned a bachelor's or a professional degree. (In some cases, however, a student enrolled in a post-baccalaureate teacher certification program might receive a Pell Grant.) Pell Grants are considered a foundation of federal financial aid, to which aid from other federal and nonfederal sources might be added.

The maximum Pell Grant award for the 2008-09 award year (July 1, 2008 to June 30, 2009) is $4,731. The maximum can change each award year and depends on program funding. The amount you get, though, will depend not only on your financial need, but also on your costs to attend school, your status as a full-time or part-time student, and your plans to attend school for a full academic year or less.

There is no application deadline to receive a Pell Grant.  To see if you are eligible, complete the FAFSA.

Cal Grants
(Adapted from www.calgrants.org)

Cal Grants are from the state of California and help students cover tuition and fee costs and living expenses.  Full-time California community college students can receive $1,551, and students at other colleges may be eligible for more.  You must be enrolled in six or more credits to be eligible for a Cal Grant.

If you are a high school senior, a recent high school graduate or you just got your GED, and you meet all the requirements and you apply by March 2, you are eligible for a Cal Grant Entitlement award.  Students who are not recent graduates may still be eligible for a Cal Grant if you meet the March 2 deadline, or a separate deadline of September 2, for community college students only.

To apply, complete the FAFSA prior to the deadlines.  Applicants will also need to submit their GPA to the California Student Aid Commission (see www.calgrants.org for more information).

Scholarships

Scholarships are a form of aid that is based upon specific qualifications, talents, or merit, often without regard to financial need. Hundreds of thousands of scholarships and fellowships from several thousand public and private sponsors are awarded each year in the United States. See www.fastweb.com for a comprehensive scholarship search on the web.

Other Types of Aid

You may be eligible for other types of aid, including Federal Supplementary Educational Opportunity Grants (SEOG) or Federal Work-Study.  Contact your financial aid office with questions, but the best way to find out what you are eligible for is to apply by filling out the FAFSA.

Student Loans

If you need additional help with college expenses after grants and a manageable amount of work, you may want to consider taking out a federal student loan.  After you graduate or stop attending school, you will need to pay back the money you receive through student loans.

If you are interested in learning more about federal student loans, contact your financial aid office.

Eligibility

Your financial aid eligibility will depend upon various factors. These include your parents’ income and assets, the number of people your parents support, and the number of children in your family who are attending college. Even if you aren’t eligible for grants, there are other kinds of aid available, including loan programs.

Your eligibility also depends on some additional factors. First, there are basic requirements that do not relate to your financial need. To be eligible for most financial aid you must:

• Be a U.S. citizen or eligible noncitizen [see the Free Application for Federal Student Aid (FAFSA) for more detail].
• Be registered with Selective Service (if required).
• Be working toward a degree, certificate or eligible goal (such as transfer).
• Not owe a refund on a federal grant or be in default on a federal educational loan.
• Be a high school graduate or have the equivalent of a high school diploma (like a GED), or take a special test to show you have the ability to benefit from college education.
• Not have been convicted of drug possession or sales in the recent past (see the FAFSA for more detail).

Second, your family income, assets, and other financial factors are reviewed to see if you could be financially eligible to receive aid. Your eligibility relates to the cost of the college you attend. In other words, you’re likely to be eligible for more money if you’re attending an expensive college than if you’re attending a lower-cost institution.

Third, the aid you may be offered depends on when you apply, when you respond to requests from the Financial Aid Office, and any types of special eligibility you may demonstrate.

Finally, to continue receiving your financial aid, you have to make progress towards your educational objectives while you are in college.

Your college financial aid office can explain eligibility to you in more detail and answer any specific questions you may have.