FINANCIAL AID 2025-2026

1321 Butte St. Suite 101 Brad Williams

Redding, CA 96001 bwilliams@collegeandcareeroptions.org

530-244-4022 530-768-5103

@collegeandcareeroptions on social media

WWW.COLLEGEANDCAREEROPTIONS.ORG

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• Providing college and career preparation services
• Serving students and families in the North State since 2003
• A non-profit organization securing grant funding to be able to provide free services and resources to our 5-county region
• Modoc – Shasta – Siskiyou – Tehama - Trinity

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• Three primary service lines
• Academic/College Preparation
• Career Exploration
• Financial Aid

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• Appointments available 530-244-4022

GOALS FOR TODAY

• Take the mystery out of the financial aid process and provide a basic understanding of how financial aid works

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• Provide an understanding of how to maximize your financial aid potential

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• Help you understand the amount of federal and CA financial aid that you are eligible for

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Types of Financial Aid

Sources of Financial Aid

• Gateway to need-based student financial aid from:
• Federal Government
• State Government
• Colleges & Universities

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What is the Free Application for Federal Student Aid?

Which Financial Aid Application to Submit?

COMPELLING REASONS TO FILE A FAFSA

Even if you don’t think you will qualify for need based aid, consider the following:

• Regardless of income level, a FAFSA must be filed to receive free CA Community College tuition
• Allows for access to government student loans
• Allows for the opportunity to secure need-based aid if life circumstances and/or financial circumstances change (special circumstances)
• You can qualify for the CA Middle Class Scholarship even if you earned up to $234,000 of income and have up to $234,000 of assets
• Some schools will not consider you for merit scholarships until you have submitted a FAFSA
• FAFSA completion required for CA high school seniors unless opt-out

�SPECIAL CIRCUMSTANCES – APPEAL FOR MORE FINANCIAL AID�

• Family’s financial circumstances have changed (even mid-year) or differ from the typical family

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• Changes to family income or assets
• Recent unemployment
• High dependent care expenses
• Housing change due to homelessness
• High unreimbursed medical or dental expenses
• One-time events (e.g., a bonus) that do not reflect ability to pay

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WHEN TO FILE THE FAFSA?

WHEN TO FILE THE FAFSA? (CONTINUED)

• File as soon as possible to qualify for more grants/scholarships from the school
• Can even file the FAFSA before submitting college admissions applications

Multiple Agencies Get FAFSA Data Simultaneously

WHAT IS COST OF ATTENDANCE? (COA)

WHAT IS THE STUDENT AID INDEX? (SAI)

FINANCIAL AID OFFERS

• Applied to the school

+ accepted to the school

+ listed the school on your FAFSA (can list up to 20)

= You will get a Financial Aid Offer from the school

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• Example:

COA $29,000 (School Cost of Attendance)

-SAI - $ 4,000 (Your Student Aid Index)

Financial Need $25,000

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• Schools offer varying amounts of financial aid, some more generous than others

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• Applying to multiple schools gives you more financial aid offers to consider

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FINANCIAL AID OPPORTUNITIES

Federal Aid Programs - 2024-2025 Information

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FINANCIAL AID OPPORTUNITIES

Federal Pell Grant Program Aid Program - 2025-2026 Information

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FINANCIAL AID OPPORTUNITIES

• Federal Aid Programs - 2025-2026 Information

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• How is a Pell Grant Award determined?
• An automatic Maximum Pell Grant Award of $7,395 per year – Max Pell

(see eligibility chart)

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• SAI-calculated Pell Grant
• Maximum Pell Grant (i.e., $7,395) – SAI = Pell Award

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• A Minimum Pell Grant Award of $740 – Min Pell (i.e., 10% of Max Pell)

(see eligibility chart) – Min Pell

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• Federal Student Aid Estimator
• studentaid.gov/aid-estimator
• Calculates Student Aid Index (SAI) and gives federal financial aid estimate (Pell Grant)

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FINANCIAL AID OPPORTUNITIES

• California Aid Programs* - 2024-2025 Information

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• Cal Grant $1,648 - $16,084/year (4 years max)

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• California College Promise Program
• First 2 years of community college tuition-free for lower income students who file a FAFSA/CADAA

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• Shasta Promise – Shasta College
• Full-time student + file a FAFSA/CADAA = free tuition (regardless of income)

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• California Middle Class Scholarship (MCS) - Up to $234,000 income and $234,000 assets

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*Applies to all accredited and approved schools in California

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Cal Grant

Income &

Asset

Ceilings

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CA is working on implementing Cal Grant reform beginning with the 2025-2026 academic year. If reform takes place, the income and asset ceilings will change. A decision is expected in May 2025.

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CALIFORNIA MIDDLE CLASS SCHOLARSHIP�

• Students enrolled at a UC or CSU whose income exceeds limits for Cal Grant will automatically be considered for the California Middle Class Scholarship
• If the student’s FAFSA or CADAA is submitted by March 2

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• Students with family income and assets up to $234,000 may be eligible

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• Award determination is based on a complicated formula

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• This is a last dollar award, so all other grants, scholarships, fee waivers will be applied first

FINANCIAL AID OPPORTUNITIES

• Institutional Aid
• Scholarships & Grants
• Need-based (financial need) and/or
• Merit-based (student talent or skill)
• Scholarships & Grants vary by school
• Apply to several schools to see several financial aid offers

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• Out of State Schools
• Western Undergraduate Exchange (WUE)
• Enables students in 16 western states & territories to enroll at 160+ participating public schools outside their home state and pay reduced tuition.
• WUE rate of 150% in-state tuition (or less)

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Federal Student Aid Help Line

(800) 4-FED-AID

(800-433-3243)

StudentAid.gov Account Needed to File FAFSA (Also Called the FSA ID)

Otherwise, they are considered to be Dependent

A student is considered to be Independent if any one of these apply:

Which of a Dependent Student’s Parents Need an FSA ID?

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What if Parents Won’t Complete the FAFSA?

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What if Parents Won’t Complete the FAFSA? (cont’d)

• If parent information is not provided, the most financial aid that the student can get is unsubsidized Federal Loans unless the college financial aid administrator performs a dependency override

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• Dependency overrides are rare and generally involve

an involuntary dissolution of the family relationship, such as:

• Both parents incarcerated or institutionalized
• An abusive home environment
• Death of the custodial parent
• Parental abandonment or estrangement
• Parent whereabouts unknown
• Contact with parent poses risks

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�WHICH YEAR’S INFORMATION IS REPORTED?�

SAI CALCULATION - INCOME �(FOR 2025-2026 SCHOOL YEAR USE 2023 TAX RETURN INFORMATION)

• Parent’s
• When the student is considered “dependent” for FAFSA purposes

• Student’s
• $11,510 is “protected” (for the 2025-2026 academic year)
• 50% of income greater than $11,510 may be added to the SAI

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• Start with your Adjusted Gross Income (AGI) and include:
• IRA deductions & payments to self-employed SEP, SIMPLE, Keough, and other qualified retirement accounts
• Foreign earned income if exempt from taxation
• Tax Exempt Interest Income
• Untaxed Portions of Pensions (excluding rollovers)
• Untaxed Portions of IRA Distributions (excluding rollovers)

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EXEMPT FROM ASSET REPORTING

• Dependent student meets one of these criteria:

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• The student qualifies for a Maximum Pell Grant

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• The student’s parents’ 2023 combined AGI is less than $60,000 and
• They do not file a Schedule A, B, D, E, F, or H, and
• They do not file a Schedule C, or
• They file a Schedule C with net business income of not more than a $10,000 loss or gain

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• Receiving any 1(or more) of 9 federal benefits in 2023 or 2024
• 9 named programs including:
• “Free or reduced-price school lunch”
• A universal program in all CA TK-12 public schools
• Check the federal income guidelines for FAFSA eligibility (next slide)

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FREE AND REDUCED-PRICE SCHOOL LUNCH�

FAFSA DEFINITION OF FEDERAL BENEFITS RECEIVED�

• At any time during 2023 or 2024, did the parent or anyone in their family receive benefits from any of the following federal programs?

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• EIC can be found on line 27 of your 2023 1040 tax return
• Medi-Cal is the CA version of Medicaid
• CalFresh is the CA version of SNAP
• SSDI is not the same benefit as SSI
• CalWORKs is the CA version of TANF

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WHAT ASSETS TO DECLARE FOR FAFSA

FAFSA Assets Do Not Include:

• Home equity (in primary home)
• Retirement accounts (IRA, 401k, 403b, Roth, etc.)
• Life insurance & annuities
• Personal vehicles, boats, firearms, household goods, jewelry, tools etc.

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Examples of FAFSA assets to declare:

• Cash, Savings, Checking
• Net worth of land, investment real estate, etc.
• Stocks/Bonds/Trusts/Other Investments (not in retirement accounts)
• Net worth of businesses and/or for-profit agricultural operations
• College savings plans/529 plans – do not include the value of siblings’ plans (report as an assets of the parents)
• Annual child support received in most recent completed calendar year
• Note: if net worth is negative, enter zero

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SAI CALCULATION – ASSETS

• Parent
• When the student is considered “dependent” for FAFSA purposes

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• Student
• 20% of student assets may be added into the SAI
• Assets are often best kept out of the name of the student

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Assets are calculated as of the day the FAFSA is filed

SAI CALCULATION - FAMILY SIZE

FAFSA DEFINITION OF FAMILY SIZE

• How many people are in the parent’s family?
• Include
• the parent (and spouse or partner)
• the student
• the parent’s dependent children (even if they live apart because of college enrollment)
• and other people living with the parent now

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• Include these dependent children and other people only if the parent will provide more than half of their support between July 1, 2025, and June 30, 2026

I HAVE FILED MY FAFSA – WHAT HAPPENS NEXT?

• After the student completes the online FAFSA, a FAFSA Submission Summary (FSS) is sent to the student
• An electronic FSS is sent if a student email address is provided
• A paper summary is mailed if no student email address is provided
• An electronic copy of the FAFSA data is sent to each college or university listed on the FAFSA
• Student should keep a copy of the FSS with other financial aid documents

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DIDN’T GET ENOUGH FINANCIAL AID? CONSIDER THESE OPTIONS

• Negotiate: Ask the college or university for more financial aid

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• Scholarships: More detail on future slide

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• Special Circumstances Consideration: More detail on prior slide

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• Student job: Work study or on-campus or off-campus

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• Payment Plans: Your school may have plans to avoid lump sum payments, allowing for several payments throughout a semester

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• Parent Savings: Food, gas, insurance savings while student is in college

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• Family resources: Savings, sell assets, 2nd mortgage, credit cards, etc.

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• Current Income: Allocate more to education expenses

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• Additional Loans: Government PLUS loans or private loans

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REDUCING COLLEGE COSTS

• Career Planning before/during college
• Changing your major (or college) costs time and money!
• Internet research, informational interviews, job shadowing
• Avoid dropping classes and focus on graduating on time
• Graduate on Time
• The longer you are in school, the more it will cost you
• Apply for scholarships
• Priority on local (smaller applicant pool)
• If you are eligible, apply!
• Buy used textbooks or rent them
• Borrow responsibly
• Use College & Career OPTIONS tools
• to evaluate and compare award offers
• project costs over time
• make decisions based on objective factors
• Consider an alternative college
• Community Colleges can be great options

WHAT ABOUT SCHOLARSHIPS?

• Your High School
• Counselors know about scholarships given previously to their students
• The McConnell Foundation – McConnell Scholars Program
• The Ford Family Foundation – Ford Scholars Program
• Siskiyou County high school students only
• Community Foundation of the North State
• Approximately 30 scholarship opportunities
• Reach Higher Shasta
• Scholarship Database
• Over 60 entries
• Local Chambers of Commerce, Rotary Clubs, Civic Groups, etc.
• National Scholarships (lots out there/lots of competition)
• Thousands of scholarships identified by each search engine (3 examples)
• Sallie Mae
• Fastweb
• Big Future
• Your College/University Admissions and/or Financial Aid Office

COLLEGE & CAREER OPTIONS FINANCIAL AID TOOLS AND RESOURCES

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COLLEGE & CAREER OPTIONS FINANCIAL AID SERVICES

College & Career OPTIONS is a local educational partnership that provides services at no cost to students of all ages who live in Modoc, Shasta, Siskiyou, Tehama or Trinity counties. Financial Aid services are specifically designed to meet individual needs.

College & Career OPTIONS does not guarantee any specific grants, scholarships, loans or government funding.

Students who receive services, and their parents or other responsible adults, are expected to provide accurate and complete information to advisors for all applications for financial aid. The best options for financial aid are based on up-to-date information.

Our advisors are not financial professionals. We urge students and families to verify information and weigh the options before making financial decisions.

It is our policy to maintain the privacy of every student who accesses services through College & Career OPTIONS. We do not share information with any outside agencies, companies or individuals. With the student’s permission, we may discuss a student’s progress with other educators and/or college admissions and/or financial aid officers for the benefit of the student.

We welcome suggestions, comments and feedback of any kind. The best services are the result of diligent efforts by everyone.

Thank you for allowing us to be of assistance to you.

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SOME CONSIDERATIONS & REMINDERS

• Cal Grant is good for 4 academic years, including Community College
• Use it wisely
• Meet all deadlines - Cal Grant has a March 2 filing deadline (except for California community college attendance, which is September 2)
• Include at least one California college/university on the FAFSA/CADAA, even if the student plans to study out of state
• After filing the FAFSA/CADAA, check CSAC’s WebGrants 4 Students website to track progress on California aid (mygrantinfo.csac.ca.gov)
• Department of Education College Scorecard
• Compare schools – cost, graduation rate, employment rate, average amount borrowed, loan default rate
• www.collegescorecard.ed.gov
• Reach out to College & Career OPTIONS if you need assistance
• Follow College & Career OPTIONS on social media @collegeandcareeroptions

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WITH GRATITUDE!!!

A huge thank you to these

College & Career OPTIONS funders!!!

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Because of their generosity, all services provided by College & Career OPTIONS personnel are free to North State families

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THANK YOU!!!

• We are always trying to improve our effectiveness.
• If you have suggestions for improvement, please see me or call me or email me

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Brad Williams

Director of Financial Aid Services

College & Career OPTIONS

Email: bwilliams@collegeandcareeroptions.org

Phone: 530-768-5103

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• Thank you for attending this presentation and for your interest in financial aid

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