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Financial Aid

Financial Aid. What does it cost? 2013-14 Cost of Attendance* (9 months). * Systemwide averages, actual amounts will vary by CSU campus. CSU Financial Aid 2011-12. 306,285 CSU Students received aid (72% of all students) Nearly $3.6 Billion in Total Aid

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Financial Aid

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  1. Financial Aid CSU HS Counselor 2007

  2. What does it cost?2013-14 Cost of Attendance* (9 months) * Systemwide averages, actual amounts will vary by CSU campus.

  3. CSU Financial Aid 2011-12 • 306,285 CSU Students received aid (72% of all students) • Nearly $3.6 Billion in Total Aid • 57% of All undergraduates have full cost of tuition covered by grants, scholarships or waivers • $613 million in State University Grant to 133,000 + students • For the 2013-14 academic year we anticipate more than $630 million in State University Grant awards

  4. Financial Aid & Transfer Students • Cal Grant B received at CC counts towards 4-year Cal Grant eligibility • Units attempted at CC may affect Satisfactory Academic Progress at a 4-year school • Regardless if aid was received or not • Units earned at CC affect SUG eligibility at a CSU • Regardless if aid was received or not

  5. Financial Aid & Transfer Students • Pell Lifetime Eligibility Used (LEU): 6 years • Pell received while at a CC will reduce remaining Pell eligibility at a 4-year school • Subsidized Loan Lifetime Eligibility • First time borrowers as of July 1, 2013 • 6-year limit on Subsidized Loans • Borrowing at a CC may affect eligibility for Subsidized loan at a 4-year

  6. Hot Topics • California Dream Act • Middle Class Scholarship • Application Changes • Special Circumstances • Verification

  7. NEW: Dream Application Students without lawful immigration status, who qualify for an AB540 nonresident tuition exemption: • Dream Application is completed instead of FAFSA (www.caldreamact.org) • Used to determine eligibility for state and institutional need based scholarships and grants • Cal Grant GPA verification is still required, in addition to the Dream Application, for Cal Grant consideration • Some campuses may also have a separate institutional scholarship application that must be filed in addition to the DREAM and FAFSA applications • The Admission application fee waiver is also available to students without lawful immigration status, who will qualify for an AB540 nonresident tuition exemption & meet the income guidelines

  8. NEW: Dream Application AB 540 General Requirements • The student must have attended a HS (public or private) in CA for 3 or more years, AND • The student must have graduated from a CA HS or attained the equivalent (GED and CA HS proficiency exam also qualify), AND • File an AB540 Affidavit (California Non-Resident Tuition Exemption Request form) with the college or university • Available in the Admissions & Records office of each CSU

  9. NEW: Dream Application • DACA: Deferred Action for Childhood Arrivals • Discretionary determination, by the Federal Government, to defer the removal action an individual • Deferred action does not provide an individual with lawful status • Assigned Social Security number for ‘Work Purposes’ only

  10. New: Dream • Deferred Action Status • Should still complete the California Dream Application • Not all deferred action students will qualify for AB540 status • AB540 is a California specific statute

  11. New: Middle Class Scholarship • Available beginning 2014-15 academic school year • State scholarship for students with family income under $150,000 on a sliding scale • UC and Cal State specific • FAFSA and Dream applicants will be considered for eligibility • Limited information is currently available

  12. New: Middle Class Scholarship • For the 14/15, 15/16, and 16/17 school years the MCS amount is reduced • 2014-15 CSU maximum is approximately $766 and for the UC $1,700 • When fully implemented in 2017-18 the maximum award will be 40% of systemwide tuition fees at a UC or CSU

  13. New: Application Changes • IRS Data Retrieval tool • FAFSA online • Federal Income Tax returns must be filed to use the IRS data retrieval tool • 1 to 2 weeks after e-file • 6 to 8 weeks after paper filing • Not all online filers will qualify to use the IRS Data Retrieval Tool

  14. New: Application Changes • IRS Data Retrieval Tool • Students should NOT wait to file the FAFSA until after the parents file their taxes • Use estimates of income and taxes to file FAFSA early • Update the FAFSA using the IRS Data Retrieval Tool AFTER parents/student file taxes

  15. New: Application Changes • Parent Definition • Addition to previous definitions: • Parents are not married to each other and live together, student may select “unmarried and both parents are living together” • This definition includes domestic partners • Both parents income should be reported • Both parents should be included in the house hold size

  16. Special Circumstances • Don’t let this delay your FAFSA or Dream application: meet with a financial aid counselor early • Each campus has different policies and procedures for helping these students and families • FERPA: Family Educational Rights and Privacy Act • Prevents University staff from discussing student specific information with a third party, including parents, without the student being present

  17. Special Circumstances • Death of a Parent • Parent/Student Loss of Employment • Parents Divorce/Separation • Student Estrangement from Parents • Homeless students • Other: Students with unique situations should contact the financial aid department at a CSU campus for guidance

  18. Verification • Students selected to submit documents to “verify” information reported on their aid application • Students are notified, usually via email, of a document submission deadline • Typical documents requested: • Tax Transcript • Household worksheet • Proof of Citizenship and/or US Residency Status

  19. Verification • Failure to submit documents on time may: • Cause a delay in processing of the student’s award • Result in a student being “dropped” from courses • Missing out on aid that has limited funding • Know a student that can’t turn something in due to a “special circumstance?” • Refer the student to the financial aid office

  20. Helpful Websites • FAFSA: http://www.fafsa.gov/ • Cal Grants: http://www.calgrants.org/ • Dream Application: www.CalDreamAct.org • Department of Education - Student guide: http://www.studentaid.ed.gov/ • CSU campus websites: http://calstate.edu/sas/fa_campus_url.shtml • CA Colleges and Career planning: • http://www.californiacolleges.edu/

  21. Questions???

  22. www.calstate.edu

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