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Financial Aid The majority of the people who dream of attending college or a technical school are very concerned about the cost. The good news is that there is plenty of financial aid available to students that will make their education more affordable. Financial aid is money that is given, earned, or lent to help students pay for their education. Most schools have grants and scholarships available to help their students. After you have been accepted to a school, the Financial Aid Office at the school will prepare a package that indicates how much aid your family will need to attend their school. Each package could consist of several different types of aid including grants, loans, work study and scholarships. There are basically four categories of financial aid: Grants – Money that is given to a student, usually because of financial need. Grants are available on the basis of financial need and do not have to be repaid. Scholarships – Money that is awarded because of exceptional academic achievement, outstanding talent or skill, and/or financial need. Scholarships are private monies that are made available to students from various groups. College Work-Study – Money a student earns by working at a campus job 10-15 hours a week with the highest financial need. Loans – Borrowed money that must be repaid. Loans are funds that you must repay. This is a low-interest loan that the student does repay until after he/she has graduated. Any student that is going to need financial aid needs to complete and submit the financial aid application form or FAFSA (Free Application for Federal Student Aid). This application will ask for information on your parent’s income, parent’s age or family size. This application needs to be submitted by March 2 of your senior year. This information on this application is used to determine how much a family can afford to pay for college that year. If the cost of the college is more than what has been determined a family can afford, then the student has a financial need and should be eligible for financial aid. Click here for the link to the online financial aid application. California Grants Cal Grants guarantees financial aid to those students who meet eligibility requirements. It costs nothing to apply for and does not have to be repaid. Students need to submit the FAFSA and the GPA Verification Form. These are the 3 Cal Grants available: Cal Grant A: For graduating seniors who demonstrate financial need who have at least a 3.0 GPA. The minimum school length is 2 academic years. Cal Grant B: For graduating seniors from disadvantaged, low-income, families with at least a 2.0 GPA. Minimum school length is 1 year. Cal Grant C: For students in occupational or career training programs. Selection is based on GPA, education & financial need. School length is at least 4 months. Scholarships Scholarships are additional sources of financial aid. Many scholarships are available from outside sources such as religious groups, private clubs, school clubs and private companies. Start early and get as much information as you can. It's never too early to start researching and applying. Your high school is the best single source of information. Some scholarships are based on examinations, essay, ethnic background, career interest and not always based on academic standing. Make an appointment with your school's scholarship advisor to learn what is available and to discuss procedures/deadlines. Never pay anybody or any company money for information on scholarships. Those are usually trying to rip you off. The following are some helpful links to websites about scholarships. National Association for College Admission Counseling FinAid (www.finaid.org/sholarships) Free Scholarship Search (www.fastweb.com) Action Plan The following is 10 step action plan for students needing financial aid: 1. Start early by talking to your parents and counselors about going to college. 2. Identify the key person at your school for scholarship information. 3. Access the services offered at your school (Workshops, internet, counselors, etc.) 4. Get organized to meet deadlines. Set up a calendar with important dates. 5. Read the California's Financial Aid Workbook. 6. Complete the Free Application for Federal Student Aid (FAFSA) and the Cal Grants GPA Verification Form. 7. File your FAFSA between Jan. 1 and March 2. Be sure your school verifies your G.P.A. for the Cal Grants. 8. Negotiate with your selected colleges about financial assistance. 9. File a CSS Financial Aid PROFILE if your school requires it. 10. Pursue every lead; meet every deadline.
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