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FINANCIAL AID BASICS What is financial aid? Financial aid is money provided by the federal or state government through grants, loans, and work experience.

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Presentation on theme: "FINANCIAL AID BASICS What is financial aid? Financial aid is money provided by the federal or state government through grants, loans, and work experience."— Presentation transcript:

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2 FINANCIAL AID BASICS

3 What is financial aid? Financial aid is money provided by the federal or state government through grants, loans, and work experience to help cover the cost of educational expenses. Scholarships, offered through outside organizations, are also an important part of financial aid. Contact the Financial Aid Office for current scholarship opportunities.

4 What types of aid are offered? Who is eligible? What types of aid are offered? Who is eligible? All federal financial aid requires that the applicant: Be a U.S. citizen, naturalized citizen, or eligible non-citizen Be a high school graduate (or equivalent) OR have passed the Ability to Benefit (ATB) Test OR have completed 6 college degree applicable units Is enrolled in and attending an eligible program Maintain an academic record in compliance with the Satisfactory Academic Progress Policy Have financial need, as determined by a federally approved calculation.

5 Additional Requirements In addition to the basic requirements, each type of aid has other guidelines for eligibility: Pell Grant Eligibility is determined by the calculated financial need, which varies from student to student. Board of Governor’s Fee Waiver (BOG) Must be a California resident. Has it’s own application if you do not file a FAFSA. Supplemental Educational Opportunity Grant (SEOG) Provided on a first-come, first-serve basis to applicants with the most financial need. Must be enrolled in a minimum of six units.

6 Additional Requirements (cont.) Cal Grants Must be a California resident. Must be enrolled in a minimum of six units. Apply by March 2 for initial awards or September 2 for Community College students. Federal Work Study(FWS) Provided on a first-come, first-serve basis to applicants with the most financial need. Must be enrolled in a minimum of six units.

7 Additional Requirements (cont.) Direct Loans Amount and type vary depending on financial need. Must be enrolled in a minimum of six non-remedial units. Must have a completed Financial Aid file. Scholarships Outside organizations offer scholarships year-round. Eligibility is determined by the organization. Reedley College also offers over 170 scholarships ranging from $100-$1000. Only one application is needed for all scholarships offered. The deadline is May 1 st, for the following academic year beginning in August. Cannot be on Financial Aid Probation or Disqualification.

8 How do I apply? You fill out a Free Application for Federal Student Aid (FAFSA) on line at fafsa.ed.gov listing the code of each college you might attend Reedley College 001308

9 What happens after I apply? The U.S. Department of Education will send you a Student Aid Report (SAR) within 3-14 days by either mail or email. You should receive a letter from your financial aid office within 3-4 weeks of receiving your SAR to inform you of any other documents required to complete your financial aid file.

10 What else should I know about financial aid? Some applicants may be randomly selected for a process called verification. This requires that documents be returned to the Financial Aid Office for review. These documents may include: Signed copies of Federal Tax Returns Birth or Marriage Certificates Social Security Card Resident Alien Card Other documents as determined by Financial Aid staff

11 And remember… Monday-Thursday: 8:00 AM – 6:00 PM Friday: 8:00 AM – 5:00 PM If you require additional assistance, you may visit our office during office hours to speak with a Financial Aid professional: Chris Cortes – Director Linda Nygren – Cal Grant Kathy Duerksen – BOGs Yvette Martinez – Pell Grant Cheryl Lock – Federal Work Study You may also contact us by phone at (559)638-0312. Amber Fowler – Appeals/Veterans Cynthia Hernandez – Direct Loans Naomi Custodio - Scholarships

12 THE END END


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