How to Pay for College. What is Financial Aid? Financial Aid is a term used to describe any and all types of financial resources used to pay for a postsecondary

How to Pay for College

What is Financial Aid?

Financial Aid is a term used to describe any and all types of financial resources used to pay for a postsecondary education



Who is eligible for Federal or State Aid?

Legal U.S. Citizen , Resident or AB540 (for state aid must be legal CA resident or

qualify under AB540) Registered for Selective Service (males only) Attend an eligible College or University Maintain at least ½ time enrollment at the school

currently attending. Maintain satisfactory academic progress Not be at default with a federal or state funding

agency


Factors that help determine Financial need

Total Household Income Total number of Investments (i.e. mutual

funds, stocks etc.) Age of older parent Number of people living in household Number of people in household enrolled in college Students’ income First generation college student


How to determine college cost?

Tuition and fees

Books and supplies

Housing (rent, utilities, food)

Transportation

Personal expenses


How much does it cost?

Type: Cost:

Community College (CC) $624 per semester/12 units

California State University (CSU)

$24,000

University of California (UC)

$32,000

Private College and University

$12,000 - $46,000


Determining Student Need

Cost of College or University

__ Expected Family

Contribution _____________________

Student Need


Four Types of Financial Aid

1. Scholarships

2. Grants

3. Work Study

4. Loan / Default Prevention


Scholarships

This type of award does not have to be repaid, it’s free.

A type of fund that one receives through activities, writing, talent or academic merit.

Requirements vary

Scholarships can be Academic or non-academic


GrantsMoney given that does not have to be repaid


WORK STUDY

A federally funded program that works together with the university that the student attends which provides financial aid through employment opportunities.

The student can work a maximum of 20 hours per week.

Flexible schedules are available.

Student’s education is a priority.


LOANS

Money that must be repaid.


HOW AND WHEN DO YOU APPLY?

Fill out the Free Application for Federal Student Aid (FAFSA) and the Cal Grant GPA Verification form.

You can obtain a copy of the FAFSA and the GPA verification form in the college office at your sons/daughters school or in any public library.

You can also apply online at: www.fafsa.gov

The Filling period for the 2015-16 college year begins January 1st 2015.

Call 1(800) 4FED-AID for more information.


Assembly Bill 540

Assembly Bill 540 Requirements & Eligibility

Required Affidavit for AB 540 Students

Financial Resources

Additional Resources


ASSEMBLY BILL 540 REQUIREMENTS

1. Attended a high school in California for 3 or more years.

2. Graduated from a CA high school or attained the equivalent of a high school diploma, (Passed the GED or CA High School Proficiency Exam)

3. Register or be currently enrolled in 1 of the 3 state institutions of higher learning.

4. File an affidavit with the college or university stating that he or she has applied to legalize his or her legal status or will do so as soon as he or she is eligible to do so

5. All information provided by student will be kept confidential by the college or university


Required Affidavit for AB 540 Students• The affidavit is required by the

college where the student will be attending

• The affidavit states that the student will adjust their status, as soon as they are eligible to do so

• Students are not required to submit a new affidavit when there is continuous enrollment

• The information on the affidavit is kept confidential, as required by law. Immigration has no access to student information


IMPORTANT

Please remember to make copies of any document you fill out and send

Any document you send should have proof of mailing, therefore you should always obtain a certificate of mailing from the post office.

Documents

How to Pay for College. What is Financial Aid? Financial Aid is a term used to describe any and all types of financial resources used to pay for a postsecondary