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Financial Aid Update. State University Grant (SUG) and Other Key Changes September, 2013. State University Grant (SUG). CSU Grant provided to eligible students to pay Tuition Basic Eligibility Criteria Student paying Tuition Charges (State-supported programs) CA Residency or AB540 Status

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financial aid update

Financial Aid Update

State University Grant (SUG) and Other Key Changes

September, 2013

slide2

State University Grant (SUG)

  • CSU Grant provided to eligible students to pay Tuition
  • Basic Eligibility Criteria
    • Student paying Tuition Charges (State-supported programs)
    • CA Residency or AB540 Status
    • File FAFSA/DREAM Application by Priority Deadline (March 2)
    • Expected Family Contribution of $6,500 or less
  • Cannot Receive Other Fee Paying Award or Waiver
    • Cal Grant
    • Fee paying scholarship
    • Tuition Fee Waiver (Veteran’s Dependent Waiver)
slide3

State University Grant (SUG)

CSULB Fee Paying Award – Profile Fall 2012

Undergraduate Students

Post-Baccalaureate Students

slide4

Effective Fall 2013 – Additional Criteria

  • Minimum Enrollment Requirement (at least ½ time)
  • Earned Unit Maximum
  • Funding Limited to Initial Degree or Credential
slide5

Earned Unit Maximum: Undergraduate Students

  • Freshman Admits: 150 Total “Earned” Units
  • Transfer Students (< 75 units): 150 Total “Earned” Units
    • Includes transfer Units and CSULB Credit
  • Transfer Students (> 75 units): 75 Earned CSULB Units
  • Types of “Completed” Units Excluded
    • Pre-baccalaureate and Remedial Coursework
    • Test Credit (AP, IB, etc.) & Military Credit
  • Evaluated each semester
    • Eligibility maybe discontinued mid-year
slide6

Earned Unit Maximum: Credential Students

  • Credential Students: 30 total “earned” units while enrolled as a Credential student
  • Additional units allowed for Single, Multiple and Ed Specialist programs
  • Includes any applicable internal or external transfer credit
  • Types of “Completed” Units Excluded
    • Units earned in a non-credential Post-baccalaureate program
  • Evaluated each semester
    • Eligibility maybe discontinued mid-year
slide7

Earned Unit Maximum: Master’s & Doctorate Students

  • 125% of published minimum unit requirement for degree program
  • Types of “Completed” Units Excluded
    • Units earned prior to term of admission
  • Evaluated each semester
    • Eligibility maybe discontinued mid-year
slide8

Second Degrees & Certificate Programs

  • Eligibility Limited to Initial Degree or Credential
  • Second Bachelor’s – Ineligible
  • Second Credential – Ineligible
  • Second Master’s or Doctorate – Ineligible
  • Bachelor’s then Credential – Eligible for both
  • Credential then Master’s – Eligible for both
  • Applies to completion of degree at CSULB or any other Institution
  • Stand-Alone Certificate Students: Not Eligible for SUG
slide9

Limits on SUG & Other Aid Programs

Undergraduate Students

Post-Baccalaureate Students

slide10

Comparison of SUG Maximum with Undergraduate Timely Graduation Policy

  • Timely Graduation Policy – Applies to 1st Baccalaureate only
slide11

Student Graduation Planning - Theme

  • Developing path to graduation at level below Unit Maximum allows for added room to address unforeseen circumstances
slide12

Other Aid Program Changes

  • New Direct Stafford Loan Interest Rates - Effective Fall 2013
    • Undergraduate Subsidized: 3.86% (up from 3.4%)
    • Graduate Unsubsidized: 5.41% (down from 6.8%)
    • Parent Unsubsidized: 6.4% (down from 7.9%)
    • Will adjust annually based upon 10-year Treasury Bill rate
  • California Middle Class Scholarship – Effective Fall 2014
    • Designed for CA Residents with Household Income up to $150,000
    • Will cover up 40% of CSULB Tuition if not covered by other programs
    • Will be phased in over several years.
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