Types of Financial Aid
A. Gift Aid (Not required to Repay):
1. Grants - typically these are need based and determined on your family's expected family contribution.
2. Scholarships - typically these are merit based and determined by an application process
B. Loans: must be paid back upon graduating from college
C. Work Study: Students can get an on campus job that is paid with federal funds to help with tuition and expenses.
D. Need-Based vs. Merit-Based:
1. Need-Based: Students are awarded based upon the family's financial need
2. Merit-Based: Students can receive scholarships and institutional grants based on merit. Examples of
merit are usually awarded for academic, athletic, artistic abilities and/or other special characteristics.
1. Grants - typically these are need based and determined on your family's expected family contribution.
2. Scholarships - typically these are merit based and determined by an application process
B. Loans: must be paid back upon graduating from college
C. Work Study: Students can get an on campus job that is paid with federal funds to help with tuition and expenses.
D. Need-Based vs. Merit-Based:
1. Need-Based: Students are awarded based upon the family's financial need
2. Merit-Based: Students can receive scholarships and institutional grants based on merit. Examples of
merit are usually awarded for academic, athletic, artistic abilities and/or other special characteristics.
Important Links for More information
California Grant Information and explanations |
Click here for information regarding student loans and other types of aid |
Click here for additional information regarding types of loans and federal student aid |
Click here to help you estimate your eligibility for student aid |
Click here for a guide to paying for college |
Applications
FAFSA: Free Application for Federal Student Aid
1. What is the FAFSA?
This is an application that helps the state/federal government determine your family's expected family contribution and eligibility for financial aid. Every school in the U.S. will require that you process a FAFSA to be considered for aid. 2. When do I need to submit it? You may begin filling out the FAFSA no earlier than October 2017 and it is due by March 2, 2018 3. What can I do to prepare for it? - Create a FAFSA ID. This is used as your password and verification to submit you rapplication - Complete the FAFSA Forecaster to get an idea of your family's Expected Contribution. Link is above. - Complete the FAFSA on the web worksheet to prepare yourself to answer the questions on the application. 4. Does it Cost? - No it is a free application. If you are on a site that charges a fee you are not on the correct FAFSA website 5. How do I complete it? - Visit the official FAFSA website - You will need your parents tax information. If your family has not been able to file your current taxes you may use the previous years information. If there have been significant changes then you will need to file a corrections form. |
CSS Profile
1. Who requires the Profile?
Some private universities and colleges use this to determine eligibility for non government aid, such as institution scholarships, loans and grants. Click here for the list of schools that us CSS Profile. 2. How is it different than the FAFSA? It asks a few more detailed questions to get a clearer picture of each family's financial state and allows for more explanations. Click here for more detailed information about the CSS Profile. 3. When is the deadline? The DEADLINE will vary by school. Verify the deadline with the colleges to which you apply 4. Does it cost to file? Yes. The cost is $25 for the first school and $16 for each additional school. 5. How do I fill out the CSS Profile? - Visit the following link to be connected to the CSS Profile - Your parents will need their tax documents as well as their financial information available to complete the application |
