California College Promise Grant:
Waives registration fees at the community college level. Applications accepted throughout the year.
Cal Grant A:
Cal Grant A awards can be used for tuition and fees at California public and private colleges as well as some private career colleges. To receive this Cal Grant, you need to be working toward a two-year or four-year degree. As of 2012, the maximum is $12,192 per academic year for up to two years. Eligibility based on high school 3.0 GPA or 2.4 college GPA, and financial need.
Cal Grant B: Fees/Tuition:
Aawards provide low-income students with a living allowance and assistance with tuition and fees. Most first-year students receive an allowance of up to $1,551 for books and living expenses. After the freshman year, a Cal Grant B also helps pay tuition and fees in the same amount as a Cal Grant A. As of 2012, the maximum award is $1,551 in the first year and then $12,192 + $1,551 in the second year.
Cal Grant B: Stipend/Living Allowance:
Tthis award is for California Community College students only. As of 2012, the maximum award is $12,192.
Cal Grant C:
This award helps to pay for tuition and training costs at occupational or career technical schools. As of 2012, the maximum award is $3,168.
California residency:
You’re considered a California resident if you’re an unmarried student, under 18, and your parents have been legal California residents for one year prior to the year in which you are applying for financial aid; if you’ve lived for two years with a legal California resident, other than a parent; or if a parent is in the U.S. Armed Forces, stationed in California and on active duty when you enroll. All married students, regardless of age, and unmarried students 18 or older, must establish their own residency.
California State University Grant:
This award is given by CSU campuses and is meant to cover full system wide fees (not total COA).
Cost of attendance (COA):
the total cost of college for the school year, including tuition, fees, books, supplies, transportation, food, housing, personal expenses, and sometimes the rental or purchase of a computer; also known as the student budget.
CSS/Financial Aid PROFILE:
The financial aid application administered by the College Board often required by independent colleges and scholarship organizations to award private aid.
Deferment:
A postponement of up to three years in repaying a loan approved by your lender
Educational Opportunity Program (EOP):
This award is for students who are from low income and educationally disadvantaged backgrounds.
Expected family contribution (EFC):
The portion of your and your family’s financial resources that should be available to pay for college, based on a federal formula using the information on your FAFSA.
Federal Family Education Loan (FFEL) Program:
Consists of the federal Stafford, PLUS and Consolidation loans which are made by commercial lenders, guaranteed by guaranty agencies and insured by the federal government.
Federal Pell Grant:
Federal Pell Grants are limited to students with financial need, who have not earned their first bachelor’s degree or who are not enrolled in certain post-baccalaureate programs, through participating institutions. The award given depends on EFC and COA, and whether a student is enrolled in college full-time or part-time.
Federal Perkins Loan:
Provides low interest loans to help students with financial need to finance the costs of postsecondary education.
Federal PLUS Loan:
PLUS Loans enable parents or stepparents (whose information is in reported on FAFSA) to borrow up to the total cost of student’s undergraduate study, minus any other aid student receives.
Subsidized Federal Stafford Loan:
Amount of award given is based on financial need. The Federal government pays interest on the loan while the student is in college and during the six-month grace period after graduating, leaving college or enrolling less than half time.
Unsubsidized Federal Stafford Loan:
All students eligible to apply for these loans regardless of need. The student borrower pays all interest on the loan, which can be deferred while in school at least half time.
Federal Supplemental Educational Opportunity Grant (FSEOG):
The FSEOG Program provides need-based grants to help low-income undergraduate students finance the costs of postsecondary education. First priority is given to Pell grant recipients.
Financial aid eligibility:
The difference between your expected family contribution and the college’s cost of attendance; also known as your financial need.
Financial aid package:
The total amount of financial aid offered, usually a combination of grants, loans and work-study.
FSA ID:
Is a username and password that you must use to log in to certain U.S. Department of Education (ED) websites. Your FSA ID identifies you as someone who has the right to access your own personal information on ED websites such as the Free Application for Federal Student Aid
Grant:
Financial aid that doesn’t need to be repaid; usually based on financial need.
Financial assistance offered and controlled by the individual colleges, such as alumni scholarships and endowments from private donors; also called university or college-based aid.
Merit-based aid:
Financial aid that is based on merit – grades, test scores, athletic ability, heritage, talents or other criteria – and not income or assets.
Need-based aid:
Financial aid that is based on your own or your family’s income and assets; most government sources of financial aid are need-based.
Scholarship:
Free money awarded based on grades, test scores, major, heritage or other criteria, but usually not financial need.
Selective Service registration:
You must register, or arrange to register, with the Selective Service for military draft to receive federal student aid; applies to males born on or after January 1, 1960, who are at least 18 years old, citizens or eligible noncitizens, and not currently on active duty in the Armed Forces.
Student Aid Report (SAR):
The report summarizing the information you provide on your FAFSA.
The gap (unmet need):
Remaining amount the student and/or family must meet (beyond EFC, if applicable) in order to attend the college this year.
Total award:
Total Financial Aid Package being offered to the student by the college or university.
Total financial need:
The remaining amount of student need to be addressed by the Financial Aid Package offered by the college or university.
University of California Grant:
This award is given by UC campuses and is based on financial need and availability of funds.
Verification:
The procedure by which a college checks the information you report on the FAFSA, usually by requesting a copy of your (or your parents’) signed tax return.
Work-Study:
If you’re offered Federal Work-Study as part of your financial aid package, your college will assist you in locating a part-time job on or off campus. If possible, you’ll be placed in work related to your studies or career plans, or in community service. You’ll earn at least the federal minimum wage.