Financial Aid

FAFSA & CADAA

Agenda

• Why Apply?
• Types of Financial Aid
• FAFSA & CADAA
• FAFSA process
• Cal Grant
• Other Financial Aid Programs
• Cash For College
• Assembly Bill 469
• Student Loan Debt Relief Plan
• CaliforniaColleges.edu
• Tools & Resources
• Important Dates

Why Apply?

• The application is free, easy, and fast!
• Complete a financial aid application even if you don’t think you qualify.
• Students could be eligible for grants (free money!) just by filling out a financial aid application.

​

Types of Financial Aid

Grants

State Aid

Institutional Aid

Money for tuition, books, housing, and other school expenses that does not need to be repaid. Based on financial need.

Grants issued to the student for tuition, books, housing, and other school expenses that does not need to be repaid from the state.

Money issued by the college to be used for tuition, books, housing, and other school expenses that does not need to be repaid to the institution. Can be based on academics, financial need, athletics, etc.

Types of Financial Aid

Loans

Work Study

Scholarships

Money that needs to be repaid with interest. Subsidized loans do not accrue interest while the student is in school full-time. Unsubsidized loans accrue interest once the loan is allocated.

Provides part-time jobs for college students with financial need, allowing them to earn money to help pay education expenses.

Money for tuition, books, housing, and other school expenses that does not need to be repaid. Can be based on academics, athletics, community service, etc.

FAFSA

• Free Application for Federal Student Aid
• Largest provider of student financial aid, provided by the U.S. Department of Education
• Applicants may be awarded financial aid in the form of grants, work-study, and loans

CADAA

• California Dream Act Application
• Allows students without proper visas/immigration documentation to apply for state financial aid
• Applicants may be awarded financial aid in the form of private scholarships, state-administered financial aid, fee waivers, university grant, and Cal Grants

CADAA

Students will need to meet the AB 540 eligibility requirements:

• Attended a CA high school for 3 years or more
• Graduated from a CA high school with a diploma or attained the equivalent (GED)
• Be registered or currently enrolled in one of the three state institutions of higher education in CA
• Filed an affidavit with the college or university stating that they will file an application to adjust their immigration status as soon as they are eligible

​

FAFSA vs. CADAA

Free Application for Federal Student Aid

California Dream Act Application

For students who are:

• US Citizen
• Permanent Resident
• Eligible Non-Citizen
• Have Social Security Number
• T Visa Holder

​

Students must attend a college in the United States.

​

For students who are:

• Undocumented Individuals
• Have No Social Security Number
• DACA Recipients (Valid or Expired)
• U Visa Holder
• Temporary Protected Status (TPS)

​

Students must attend a California college.

FAFSA Process

Visit the FAFSA Website.

You can use the FAFSA Worksheet to collect information before you fill out the application.

The FSA ID is used to access FAFSA online and to electronically sign the FAFSA. Students and parents may not use the same FSA ID. ��Keep your FSA ID, username, and passwords secure. You will need to access this information every year.

Tip #1

FAFSA Process

7 Sections of FAFSA:

• Student Demographics
• School Selection
• Dependency Status
• Parent Demographics
• Financial Information
• Sign & Submit
• Confirmation

Save your financial aid application often.

Tip #2

FAFSA Process – School Selection

• Choose up to 10 schools (colleges/universities) to send your financial aid information to

​

• Choose at least one school should be a California school, this will allow you to see the Cal-Grant award

​

• You may add more schools after submitting the FAFSA

FAFSA Process – Dependency Status

Dependent

Independent

• Lives with parent/guardian
• Is single

• At least 24 years old
• Is married
• Graduate or professional student
• Veteran or member of the armed forces
• Orphan or ward of the court
• Emancipated minor
• Has legal dependents
• Homeless

* Dependents will need to report parent information on the financial aid application.

FAFSA Process – Financial Information

• The IRS Data Retrieval Tool imports federal tax information to the FAFSA

​

• Must have a valid Social Security Number

​

• Must have an email address

Use a personal email that you check often. Crucial financial aid information will be emailed directly to the email you provide.

Tip #3

FAFSA Process – Common Mistakes

• Listing a person as a parent who has not legally adopted the student

​

• Listing only one college to receive FAFSA data

​

• Not providing NET worth assets

​

• Including primary residence and retirement in assets

​

• Listing a business that has 99 employees or less as an asset

• Listing the incorrect number of family members in the household

Cal Grant

• The Cal Grant is a California-specific financial aid allocation that does not need to be paid back.

​

• High schools will submit GPA data for all graduating students by October 1^st.

​

• Please notify your High School Counselor if you wish to opt-out of the GPA submission.

​

• Selection is based on financial need and academic performance.

Cal Grant – Eligibility Criteria

• Submit the FAFSA or CADAA by March 2^nd
• Submit your Cal Grant GPA by March 2^nd
• Be a US citizen or eligible noncitizen or meet AB540 eligibility criteria
• Be a California resident for at least 1 year
• Attend a qualifying California college & enroll in a degree/certificate program
• Not have a bachelor’s or professional degree
• Have a financial need

​

For more information, visit the California Student Aid Commission.

​

​

Cal Grant

Cal Grant A

Cal Grant B

• Minimum GPA 3.0
• Pays for tuition and fees at 4-year colleges
• Available until completion of the degree or 4-years
• For Community College students, grant goes on reserve until the student transfers to a 4-year college

​

• Minimum GPA 3.0
• 1^st year pays for a living allowance up to $1,648 only; then in subsequent years pays for a living allowance + tuition and fees
• Available until completion of the degree or 4-years

Cal Grant C

• No Minimum GPA Requirement
• Pays for costs of a technical or career education
• Available for up to 2-years

Cal Grant

• To qualify for the Cal Grant, students must:
• Meet eligibility requirements and;
• Submit their FAFSA or CADAA by March 2^nd.

​

• For more information about each Grant type, visit the California Student Aid Commission review the Cal Grant Program Comparison Chart.

​

• For more information about the financial thresholds for each grant, review the Cal Grant Program Income Ceilings.

Other Financial Aid Programs

California Chafee Grant Program

Middle Class Scholarship

California Military Department GI Bill Award Program

Law Enforcement Personnel Dependents Grant Program

Golden State Teacher Grant

California Dream Act Service Incentive Grant Program

For students who were in foster care for at least one day between ages 16 – 18.

For students who enrolling at a UC or CSU, with a family income of up to $191,000.

For students who are active members of the CA Army or Air National Guard, CA State Guard, or CA Naval Militia.

For dependents and spouses of employees who lost their lives or were totally disabled in the line of duty as a law enforcement personnel.

For students enrolled in a teaching program in a high need field and who are committed to teach at a priority school in California for 4 years.

For CADAA students with a Cal Grant B who also perform community or volunteer service.

Cash For College

• The California Student Aid Commission offers free financial aid workshops throughout California.

​

• Attend a workshop if you need help with financial aid applications.

​

• Locate a workshop through the Cash4College site.

​

​

Assembly Bill 469

AB 469:

• Schools need to ensure all high school seniors complete the FAFSA or CADAA before graduating
• Otherwise, students will need to opt-out of the financial aid process using the FAFSA CADAA Opt-Out Form

​

Sequoia Grove Schools:

• Check your email for information regarding financial aid
• Counseling Team will monitor completion of financial aid applications
• Students will need to complete the FAFSA/CADAA or opt-out by March 2^nd

Financial Aid Statistics

$2 Billion

Each year, $2 billion in federal student grants go unclaimed.

​

$8,285

36.7% of undergraduates receive an average of $8,285 in federal loans annually

​

$5,179

42.0% of undergraduates receive an average of $5,179 in federal grants.

​

Student Loan Debt Relief Plan

5% of Discretionary Income

• Requires borrowers to pay no more than 5% of their discretionary income (down from 10%)

​

Raise Non-Discretionary Income

• The amount of income considered non-discretionary income is higher now
• Guarantees that no borrower earning under 225% of the federal poverty level (about $31,000 annual income or annual income of a $25 minimum wage worker) will need to make monthly payments

​

Loan Forgiveness

• Forgive loan balances after 10 years of regular payments (instead of 20) for a maximum of $12,000

​

​

CaliforniaColleges.edu

Resources and tools for researching careers, colleges, and scholarships.

​

Students can take advantage of personality, career, and interest surveys to learn more about their interests.

Tools & Resources

Annual Statewide Financial Aid Workshops

Provided by the California Student Aid Commission. Workshops start in August.

​

Make sure to register for a Webinar/Workshop!

​

Tools & Resources

Fast Web

Sallie Mae

Raise Me

Niche

Scholly

Online resource with a scholarship search and information about financial aid.

Corporation that provides major educational loans. Includes a scholarship search tool.

Tool for unlocking micro-scholarships for high school achievements. Not all colleges participate in the program.

College planning tool with college and scholarship search tools.

Easy to use Scholarship App.

Scholarship searches and applications are free! You should never have to pay for scholarships.

Tip #4

Important Dates

March

October

November

June

The Financial Aid application opens on October 1^st.

CSU and UC applications are due by November 30^th.

Students who wish to qualify for the Cal Grant need to submit all financial aid applications (FAFSA and CADAA) by March 2^nd.

The latest date the FAFSA can be submitted is June 30^th.

Set a reminder to complete the financial aid application. You should file during your last year of high school and every year in college.

​

The FAFSA opens every October 1st.

Tip #5

Thanks!

Any Questions?