1 "How to get through college with $1 in your pocket." An Introduction to Financial Aid By: Anita Adams, Rachel Baltazar, Yena Cheong, Sean Giblin, Jason Tran
2 How much is it gonna cost? or... what's my "net cost?
3 Sounds great. How do I pay for it all? And more importantly, What's the catch?? There are 4 types of aid: Grants, which is free money given to students Scholarships, which is free money given by people, institutions, etc. Employment, Federal Work Study is a federally funded program where students can work. Loans, which is money that must be paid back with interest
4 BUT FIRST! But FIRST, you must fill out the FAFSA or Free Application for Federal Student Aid The online application for FAFSA(Free Application for Federal Student Aid) is a lot easier than most people think. The application itself gives students tips and explains further what is being asked. When in doubt you can also search for what you don t know online OR you can ask for assistance in the Financial Aid Office located in the Baldwin Winery at De Anza College. NEVER give anyone money to fill out your FAFSA. Go to
5 Pell Grant Federal Grant, does not have to be repaid Maximum Pell Grant currently is $5,500 Amount depends on: financial needs cost of attendance part time/full time plans to attend school for one year or less if parent or guardian was a member of the armed service and died 24 years or younger are considered dependent, those older are Independent. Enrolled in college or career school
6 Federal Supplemental Educational Opportunity Grant (FSEOG) Students who receive Pell Grant, will have first priority to the FSEOG FSEOG between $100-$4,000 a year At De Anza FSEOG typically runs between $ /yr May the odds be ever in your favor Amount depends on: financial need when you apply, the earlier you apply the better your odds. amount of other aid received funds available at the school
7 CAL Grant CAL Grant eligibility: recent CA high school graduated, just got GED. submit FAFSA U.S. citizen or eligible non-citizen or meet AB540 criteria. Be CA resident when graduated from High School or meet AB540 criteria. Have social security number or meet AB540 criteria. GPA requirements.
8 CAL Grant A&B CAL Grant A: used for tuition and fees at UC/CSU. Covers up to $5,970 and $12,192. Eligibility: minimum 3.0 GPA, from low- and middleincome families. Cal Grant B: provides low-income students with a living allowance and assistance with tuition and fees. starts up to $ 1,473 in freshmen year, but after it can go up to same amount as CAL Grant A. Eligibility: From low income families. Minimum 2.0 GPA
9 CAL Grant C & Transfer Entitlement CAL Grant C: Pays for tuition and training costs at occupational or career technical schools. $547 for books, tools, and equipment. Additional $2,462 for tuition is available. Eligibility: Must enroll in a vocational programs at least four months long. CAL Grant Transfer Entitlement: Grants CAL Grant A or B to California Community College (CCC) students. To be eligible you must have: Been a high school graduate after June 30, 2000 you must have at least a 2.4 community college GPA meet the Cal Grant financial and eligibility requirements be under 28 years of age as of December 31 of the award year apply by March 2 You must transfer from a California Community College to a bachelor s degree-granting school in the award year for which the award is offered.
10 Chaffee Grant The California Chafee Grant is free money for current or former California Foster youth to pay for college or career/ technical training. How do you qualify? Be a current or former foster youth Not have reached your 22 nd as of July 1 of the award year Have financial need How do I apply? Submit the California Chafee Grant program application at Submit the FAFSA Have your school submit the Chafee Need Analysis Report electronically or download pdf at
11 BOG Waiver BOG Waiver: Board of Governors Fee Waiver Waive the enrollment fee charged to eligible students. Only to CA residents. When applied and eligible to FAFSA, have BOG Waiver.
12 Private Scholarships De Anza College offers many scholarship opportunities. Most can be found at: https://scholarships.fhda.edu Outside sources of scholarships: Many scholarships can be found through web searches, but be careful. You should never have to pay money to apply for a scholarship or to receive one. Here are a list of scholarship websites:
13 California Dream Act It s important to know that the California Dream Act can help undocumented students to apply for financial aid. The California Dream Act application can be found at: https://dream.csac.ca.gov/ It s important to know students should never have to pay to apply for any financial aid. There is help available to qualify. Search for a local workshop
14 Student Loans Corporation Government Private Vs. Federal
15 What's An Interest Rate? -Why are they so important? -Subsidized Interest vs. Unsubsidized interest -Grace period
16 Types Of Federal College Loans -Stafford Loan Open to undergraduates who have not defaulted or reached their lifetime loan limit. Dependent students: $31,000 (<$8000 unsubsidized) Independent students: $57,500 (<$34,500 unsubsidized) -Direct Subsidized Loan: 3.4% -Direct Unsubsidized Loan: 6.8% -Perkins Loan - Exceptional Financial Need - Fixed 5% -Federal PLUS Loan -Parents of Dependents, Fixed 7.9%
17 Private Loans for Education - Bank or Credit Union - Higher interest rates (some 18%) - Variable Interest Rates - Credit Check or Cosigner - Payments made while still in school - No Consolidation Option.
18 So, I'm getting financial aid. YAY! But how in the world do I manage to not end up broke?
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