How can I pay for college?

Before learning about the various types of financial aid available, it is important to know that aid is available for all types of colleges (i.e. community colleges, 4-year colleges, public colleges, private colleges, trade/technical colleges, and out-of-state colleges). It is also important to know that financial aid is available for all types of students:

• Documented & Undocumented

• High GPA & Low GPA

• High Financial Need & Low Financial Need

Types of Aid

Your financial aid award/package will likely come from various streams: Federal loans/grants/programs, State grants, University/College grants, and private scholarship resources. 

Types of Federal Aid:

• Grants: money that does not have to be paid back 

• Federal Pell Grant ($6,895 for 2022-23 award year)

• Cal Grants (amounts vary on high school GPA and type of college attended)

• Work-Study: work program through which students earn money to pay for school

• Federal Student Loan Programs: borrowed money that must be repaid (sometimes with interest)

• Scholarship: money awarded to students for academic study (does not have to be paid back). Can be granted by the college, company, non-profit organization, individual, etc. Merit-based scholarships are dependent on academic performance, talents, or other criteria. Need-based scholarships are dependent on financial need.

• CSU Scholarships

• UC Scholarships

Aid programs for eligible California residents

• CHAFEE Grant: The California Chafee Grant for Foster Youth Grant awards up to $5,000 a year to eligible foster youth. It may be used at any eligible California college or university, or career or technical school. Students attending schools in other states may also qualify. A student’s receipt of a Chafee Grant award shall not exceed five years (whether or not consecutive).

• Middle-Class Scholarship (MCS): For undergraduates and students pursuing a teaching credential with family income and assets up to $201,000. Scholarship amounts vary by college.

• UC Blue and Gold Opportunity Plan: Ensures that you will not have to pay UC’s systemwide tuition and fees out of your own pocket if you are a California resident whose total family income is less than $80,000 a year and you qualify for financial aid.

• California College Promise Grant: Waives community college enrollment fees.

How much aid will I get?

• The amount of state and federal aid you will receive will depend on the information you share through your financial aid application. 

• The aid you get will be based on the COST OF ATTENDANCE (COA) and your family’s STUDENT AID INDEX (SAI - formerly known as EFC). 

• The COA varies by college and it includes tuition, books, fees, room and board, transportation, and personal expenses.

• The amount of financial aid you will receive will be the difference between the COA and SAI: COA - SAI = financial aid needed. The financial aid needed can be met by a combination of loans, grants, scholarships, and work-study.

Who is considered my “parent” on financial aid application forms?

• Students should enter information for biological parents or legally ADOPTIVE parents.

• If parents live in another country, their information is still required.

• If biological parents live in the same house together but were never legally married, both parents' information must be included.

• If parents live in separate houses (and the student lives with both), use the information for the parent with whom the student lived the MOST during the last 12 months. It is NOT necessary to put both parents.

• It does NOT matter who claims the student on their taxes.

• If the parent selected is remarried, the step-parent’s information must also be included.

How do I apply for financial aid?

The Free Application for Federal Student Aid (FAFSA) must be submitted between October 1st and March 2nd of the year before you will start college. High school seniors will complete the application between 10/1 and 2/2. Students must renew their FAFSA every year!

Free Application for Federal Student Aid (FAFSA)Below are the basic requirements for the FAFSA:

• demonstrate financial need for need-based federal student aid programs;

• be a U.S. citizen, U.S. permanent resident (green card holder), have an arrival-departure record, have a battered immigrant status, have a T-Visa, or be an eligible noncitizen;

• have a valid Social Security number (with the exception of students from the Republic of the Marshall Islands, Federated States of Micronesia, or the Republic of Palau);

What happens after I submit the FAFSA?

• It usually takes 3-5 days for the application to be processed - it can take longer if the parent does not have a Social Security Number and must mail in a signed Signature Page. 

• Once the application is processed, students receive a report, which summarizes the information provided on the application.

• Families should review the report and make sure all of the information is complete and accurate. Missing or incorrect information should be completed or corrected as soon as possible (this includes adding additional schools).

• Every time changes are made to the application, everyone must re-sign electronically. Parents without an SSN must re-print the signature page and mail it in.

• The report includes the STUDENT AID INDEX (SAI - formerly known as EFC). 

• Once the application is processed, the report is sent to the colleges listed on the application.

• Colleges use the information on the report to determine eligibility for federal and nonfederal student aid.

• Each college is responsible for creating an award package and disbursing financial aid. 

• Once a college generates a financial aid award package, changes to a family's financial situation (that may impact eligibility for aid), should be communicated directly to the colleges that the student applied to.

I got selected for verification, what is this?

• Verification is the process used to confirm that the data reported on the application is accurate.

• An "*" asterisk next to the SAI on the FAFSA report, indicates that the student was selected for verification and will be required to submit additional forms and paperwork to the colleges they applied to.

• Most students are selected for verification at random or because there was incomplete or inconsistent data reported on the application.

• Colleges will NOT generate financial aid award letters until the student has submitted the required forms and paperwork.Financial aid processing will be on hold until all required documents are submitted and the student's file has been fully verified.

• Students are provided verification instructions on their school's PORTAL.

• Typical paperwork required for verification includes copies of W2 and the family's TAX TRANSCRIPT.

Next Steps for Students (start of senior year)

• Watch “How to fill out the FAFSA form” Video

• Review the Financial Aid Checklist

• Gather documents

• Social Security Number (yours and your guardians)

• Alien Registration Number (if you are a Permanent Resident - hold a Green Card)

• Guardian Federal income tax returns, W-2s, and other records of money earned. (Note: You may be able to transfer your federal tax return information into your FAFSA using the IRS Data Retrieval Tool.)

• Bank statements and records of investments (if applicable)

• Records of untaxed income (if applicable)

• Prepare to apply:

• Create your FSA ID (necessary to submit the FAFSA)

• Applicants starting college in the Fall of 2023 - complete the 23-24 FAFSA on the Web Worksheet (English / Spanish)

• Students applying to private colleges may also be required to submit a CSS Profile. Check if any school you are applying to requires it and be sure to submit it by February 1st (December 1st priority deadline for scholarship consideration).

• Once you accept admission to your future college (May of senior year), create a WebGrants 4 Students account and make sure your future college is selected.

Next Steps for Families

• Watch the “How to fill out the FAFSA form” Video

• Understand who is considered a “parent” for financial aid purposes - whose information needs to be included on the FAFSA. 

• Be sure to file your taxes on time! For the class of 2023, you will use 2021 tax information. For the class of 2024, you will use 2022 tax information.

• As soon as you file your taxes, request a TAX TRANSCRIPT and keep it handy (will likely be required to submit it along with a financial aid application). The easiest way is to select “get a transcript by mail”. When ordering, the information (name and address) must match exactly as written on your tax returns.

• Create your FSA ID (necessary to submit the FAFSA). If you don’t have a social security number, then you will not create an FSA ID. Instead of signing electronically, you will print a form, sign it, and mail it in.

Próximos pasos para las familias

• Mire el video "Cómo llenar el formulario FAFSA"

• Comprenda quién se considera un "padre" para fines de ayuda financiera, cuya información debe incluirse en la FAFSA.

• ¡Asegúrese de declarar sus impuestos a tiempo! Para la clase de 2023, utilizará la información fiscal de 2021. Para la clase de 2024, utilizará la información fiscal de 2022.

• Tan pronto como presente su declaración de impuestos, solicite una TRANSCRIPCIÓN DE IMPUESTOS y téngala a mano (es probable que deba enviarla junto con una solicitud de ayuda financiera). La forma más fácil es seleccionar "obtener una transcripción por correo". Al realizar el pedido, la información (nombre y dirección) debe coincidir exactamente con lo escrito en sus declaraciones de impuestos.

• Cree su FSA ID (necesario para enviar la FAFSA). Si no tiene un número de seguro social, entonces no creará una FSA ID. En lugar de firmar electrónicamente, imprimirá un formulario, lo firmará y lo enviará por correo.