Presentation is loading. Please wait.

Presentation is loading. Please wait.

1 Welcome Financial Aid. Federal government State government Colleges and universities Private agencies, companies, foundations, and your parents’ employers.

Similar presentations


Presentation on theme: "1 Welcome Financial Aid. Federal government State government Colleges and universities Private agencies, companies, foundations, and your parents’ employers."— Presentation transcript:

1 1 Welcome Financial Aid

2 Federal government State government Colleges and universities Private agencies, companies, foundations, and your parents’ employers Sources of Financial Aid

3 Types of Aid Need Based Aid –Scholarships –Grants –Work Study –Subsidized Loan Non Need Based Aid –Unsubsidized Loan –Parent Plus Loan –Alternative Loan 3

4 Expected Family Contribution (EFC) The amount you and your parents are expected to contribute to your educational expenses Calculated using information from the FAFSA and a federal formula called FEDERAL METHODOLOGY. Consist of two components –Parent contribution –Student contribution The EFC is the same regardless of college 4

5 BASIC FORMULA for Determining Eligibility Cost of Attendance – Expected Family Contribution = Financial Need

6 Scholarships Institutional Scholarships –New Freshman/Transfer/Continuing Student scholarships are often awarded based on both financial need and academic excellence –http://scholarships.ucr.edu/http://scholarships.ucr.edu/ 6

7 Outside Scholarships –http://www.scholarshiplist.ucr.edu/http://www.scholarshiplist.ucr.edu/ 7

8 Grants State Grant –Cal Grant Federal Grant –Pell Grant Institutional Grant 8

9 By March 2, 2016, complete and submit:  The Free Application for Federal Student Aid AND  The Cal Grant Verification Form Check with your high school or college counselor for more details 2016-2017 Cal Grant Application Requirements

10 CAL GRANTS Cal Grant A Entitlement Awards – for students with a GPA of at least 3.0, family income and assets below the state ceilings, and who demonstrate financial need Cal Grant B Entitlement Awards – for students from disadvantaged or low income families with a GPA of at least 2.0, family income and assets below the state ceilings, and who demonstrate financial need

11 11

12 Federal Pell Grant For undergraduates with financial need who have not earned bachelors or professional degrees. A student can receive a Federal Pell Grant for NO MORE than 12 semesters or the equivalent (roughly 6 years) Awards can be up to $5,775 per year 12

13 Institutional Grant UCR Grant –On-time –Undergraduate –EFC, Housing, Grade Level, Other Grant Award Blue & Gold –On-time –Undergraduate –income less than $80,000 UCR Parent Grant (student) –On-time –Undergraduate –Single Parent –EFC < $13,000 13

14 Work Study For undergraduate students Must Show Financial Need Jobs can be on campus or off campus Students are paid at least the federal minimum wage Paid bi-weekly 14

15 Loans Federal –Subsidized Loan 4.29% –Unsubsidized Loan 4.29% –PLUS Loan 6.84% 15

16 2015-2016 UCR Student Budgets

17 Financial Aid Applications FAFSA on the Web www.fafsa.ed.gov www.fafsa.ed.gov California Dream Application www.caldreamact.org

18 UCR FINANCIAL AID Important Dates Jan. 1, 2016 - First day to submit FAFSA to the federal processor Mar. 2, 2016 - UC postmark priority date to submit FAFSA Mar. 2, 2016 - Postmark deadline to submit GPA Verification Form to the state (CSAC) for Cal Grant consideration March-May 2016 - Award notices available for admitted students May 1, 2016 Admissions SIR deadline June 1, 2016 - Deadline to submit any requested supplemental information or documents to UCR, and Admissions SIR deadline

19 Questions?


Download ppt "1 Welcome Financial Aid. Federal government State government Colleges and universities Private agencies, companies, foundations, and your parents’ employers."

Similar presentations


Ads by Google