Financial Aid
FAFSA4caster
Estimate your aid with FAFSA4caster
Loan Payment Calculator
How much will my loan payment be and how much interest will I pay? Check out the Loan Payment Calculator when deciding about student loans.
Estimate your aid with FAFSA4caster
Loan Payment Calculator
How much will my loan payment be and how much interest will I pay? Check out the Loan Payment Calculator when deciding about student loans.
"Cash For College" - Get Help with FAFSA, Dream Act & Cal Grant Applications!
Attend a Virtual "Cash For College" Workshop and get help completing your College Financial Aid Application. Experts and trained volunteers will conduct a line-by-line presentation, and assist you with completing the process.
These upcoming workshops are open to all EGUSD Seniors and Parents - (click the school to join the Zoom Meeting)
DATE | SPONSORING HS | TIME |
Tuesday, October 26 | Valley HS | 6:00 - 8:00PM |
Wednesday, November 3 | Monterey Trail HS | 6:00 - 8:00PM |
Thursday, November 4 | Florin HS | 6:00 - 8:00PM |
Thursday, November 18 | Calvine HS | 6:00 - 8:00PM |
Seniors and Parents! Do you need Cash for College? Complete the Federal Application for Student Aid (FAFSA) or the California Dream Act Application (CADAA) beginning October 1, 2021 and before the March 2, 2022 Deadline! Be sure to launch your Financial Aid Application from your CaliforniaColleges.edu account.
Please have the following documents readily available during the webinar:
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Your parents (if your parents have an SSN) and your FSA ID (For FAFSA filers ONLY) or your Dream Act Account
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Driver's License, if you have one
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Social Security Card, if you have one
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Alien Registration Card, if you have one
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ITIN, if you have one
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List of colleges you are interested in to list on your Financial Aid Application
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Most current bank statements
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Any records of untaxed income such as child support, TANF, interest income, veterans non-education benefits, Social Security benefits
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2020 tax information (1040's and W-2's) This includes your parents' tax information if you are a dependent student (most high school students are a dependent)
Think your family income is too high and you won't qualify for financial aid?
Under the Los Rios Promise Program, Students planning to attend a Los Rios Community College (CRC, SCC, ARC, Folsom Lake) are eligible for 2 years tuition free regardless of income, but you must complete the financial aid application (FAFSA or CADAA) by the March 2nd deadline.
The MIDDLE CLASS SCHOLARSHIP provides undergraduate students with family incomes up to $181,000. a scholarship to attend University of California (UC) or California State University (CSU) campuses.
Remember, to qualify for a Cal Grant you must submit the FAFSA or Dream Act application no later than March 2nd.
EGUSD will submit all senior Cal Grant GPA's to the California Student Aid Commission for Cal Grant consideration. Create your account on https://mygrantinfo.csac.ca.gov/ to check your California Aid Report (CAR) once your FAFSA and GPA have been submitted.
California Dream Application
The California Dream Act allows undocumented and nonresident documented students who meet certain provisions to apply for and receive private scholarships funded through public universities, state –administered financial aid, university grants, community college fee waivers, and Cal Grants. AB 540 students may include undocumented students, students who are US citizens but who are not CA residents, and dependent students whose parents are not CA residents. AB 540 students are those who:
- Have attended a California high school for at least 3 years, or graduated early from a CA high school with the equivalent of 3 or more years of credit AND
- Graduated from a CA high School, or passed the California High School Proficiency Exam (CHSPE) or obtained a General Equivalency Diploma (GED) AND
- Enroll in an accredited and qualified California college or university, AND
- If applicable, complete an affidavit to legalize immigration status as soon as eligible.
The California Dream Application is for :
- Undocumented students who meet AB 540/AB 2000 criteria
- U visa holders, and
- AB 540 eligible students who hold a Social Security Card obtained through Deferred Action for Childhood
- Arrivals (DACA); DACA holders are not eligible noncitizens
You must submit the FAFSA if you are a:
- United States Citizen,
- U.S. National
- Lawful Permanent Resident
California Student Aid Commission "Resources for the 2020-2021 Financial Aid Year"
Guide to College Scholarships & Financial Aid for Black Students
Applying to and affording college is a challenge for most college students, including black college students. This comprehensive guide offers tips for accessing financial aid and finding scholarship opportunities to help bring down the cost of higher education.
What is This Financial Aid Thing Anyway?
What Is Financial Aid?
Any money from outside the family that pays postsecondary (college) expenses
Any money from outside the family that pays postsecondary (college) expenses
Understanding College Costs
• More than just tuition
Also includes room and board, books, transportation, personal expenses, etc.
• Vary by type of college
Community colleges are less expensive than four- year schools
Private colleges can be more expensive than public colleges
• Look at costs over an child’s entire postsecondary education
Four to six years total
• More than just tuition
Also includes room and board, books, transportation, personal expenses, etc.
• Vary by type of college
Community colleges are less expensive than four- year schools
Private colleges can be more expensive than public colleges
• Look at costs over an child’s entire postsecondary education
Four to six years total
Expected Family Contribution (EFC)
• Amount family can reasonably be expected to contribute, but not what the family will pay to the college
• EFC the same regardless of what college the student attends
• Calculated using a federal form and formula
• Amount family can reasonably be expected to contribute, but not what the family will pay to the college
• EFC the same regardless of what college the student attends
• Calculated using a federal form and formula
What Is Financial Need?
• Difference between college costs and EFC
• Will vary by college
• Amount of financial need determines the aid a student will receive
• Difference between college costs and EFC
• Will vary by college
• Amount of financial need determines the aid a student will receive
Types of Financial Aid
• Scholarships Awarded on the basis of merit or unique characteristics
Don’t have to be paid back
• Scholarships Awarded on the basis of merit or unique characteristics
Don’t have to be paid back
• Grants
Awarded on the basis of financial need
Don’t have to be paid back
• Loans
Considered self-help aid
Must be paid back, usually after student finishes school
Many different types
A good investment in child’s future
• Employment
Self-help aid
Earnings used to cover college expenses
Sources of Financial Aid
• Federal government
Largest source of financial aid
Awarded mainly on the basis of financial need
Apply every year using a standard form
• Federal government
Largest source of financial aid
Awarded mainly on the basis of financial need
Apply every year using a standard form
• States
Offer both merit-based and need-based aid (CalGrant Program; www.csac.ed.gov)
Usually have residency requirements
• Colleges
Varies widely from college to college
Offer both merit-based and need-based aid
May be offered as part of the admissions process
• Private sources
Churches, civic organizations, and employers
Varying award amounts and application procedures
Small awards add up
How to Apply for Financial Aid
• Complete a standard federal form every year
• Complete a standard federal form every year
• Standard federal form is the Free Application for Federal Student Aid (FAFSA)
www.fafsa.ed.gov
CA High School Seniors file between October 1st and March 2nd of Senior Year.
Collects demographic and financial information about the student and his or her family
Data used to calculate the EFC
• File the CalGrant GPA Verification Form by March 2nd of the senior year for CalGrant consideration
• Information from the FAFSA may be used by states, colleges, and private sources to award aid
• Ask colleges if other forms are required
Many Private schools require the CSS/Financial Aid PROFILE in addition to the FAFSA
https://profileonline.collegeboard.com/prf/index.jsp in addition to the FAFSA.
Federal Financial Aid Programs
• Federal grant programs
Federal Pell Grant
Academic Competitiveness Grant (ACG)
National Science and Mathematics Access to Retain Talent (SMART) Grant
Teacher Education Assistance for College and Higher Education (TEACH) Grant
Federal Supplemental Educational Opportunity Grant (FSEOG)
• Federal grant programs
Federal Pell Grant
Academic Competitiveness Grant (ACG)
National Science and Mathematics Access to Retain Talent (SMART) Grant
Teacher Education Assistance for College and Higher Education (TEACH) Grant
Federal Supplemental Educational Opportunity Grant (FSEOG)
• Federal loan programs
Federal Perkins Loan Program (borrowed by students)
Stafford Loans (borrowed by students)
PLUS Loans (borrowed by parents and graduate students)
• Federal employment programs
Federal Work-Study (student earns money through a campus provided job to help pay for education)
Estimating Eligibility Using FAFSA4caster
• On-line tool developed by U.S. Department of Education to help families financially prepare for college
http://www.FederalStudentAid.ed.gov
Asks for data provided on the FAFSA
Estimates the EFC
Estimates eligibility for federal financial aid
• On-line tool developed by U.S. Department of Education to help families financially prepare for college
http://www.FederalStudentAid.ed.gov
Asks for data provided on the FAFSA
Estimates the EFC
Estimates eligibility for federal financial aid
• Estimates possible financial aid at various types of colleges
• Gives an idea of realistic costs, financial need, and financial aid
Researching Financial Aid
• Begin early
• Find scholarships that match student’s academic interests, hobbies, and unique characteristics
• Don’t pay for scholarship searches
• Be wary of promised results
• Report fraud
• Begin early
• Find scholarships that match student’s academic interests, hobbies, and unique characteristics
• Don’t pay for scholarship searches
• Be wary of promised results
• Report fraud
What to Do Now
• Start saving
• Encourage child to take college prep classes
• Share information with student
• Encourage student to participate in extracurricular activities
Develop leadership skills
• Help child develop strong study skills
• Start saving
• Encourage child to take college prep classes
• Share information with student
• Encourage student to participate in extracurricular activities
Develop leadership skills
• Help child develop strong study skills