Financial Aid
What is Finacial Aid?
Financial aid is a state and federal government system of loans and grants available to all qualified individuals seeking college funding. All graduating high school students and adults with a GED or High School Diploma can access grants through FAFSA or CSAC (see below).
This system was set up to support potential college students who need access to the financial resources required to pay for college. Filing for financial aid on time could get you or your student access to enough grant money to cover the entire cost of college, but that depends on where your student goes to college (state school vs. private school) and household income.
The College and Career Center is always ready to help students and parents pursue these resources!
FAFSA
The FAFSA is the Free Application for Federal Student Aid. It's U.S. Government online application that provides access to subsidized and unsubsidized student loans (more on those below), as well as federal grants. The application is free and will never ask you for your credit or debit card numbers or any payment form. The application may ask you for dollar amounts in your banking account but will never ask for your bank account numbers. Some websites look like the FAFSA website but are actually a private service that will charge you to complete the FAFSA on your behalf.
Again-- the FAFSA IS ALWAYS FREE! If you're being asked to pay, you're on the wrong website.
Student must have a valid Social Security Number
CSAC
CSAC stands for the California Student Aid Commission. FAFSA is managed by the federal government, while the State of California governs CSAC. CSAC provides access to state grants (free money that does not need to be repaid). These grants are available to all eligible California resident students. Additionally, CSAC provides access to the Dream Act application and Dream Act funding.
CA Dream Act
If the student does not have a social security number or has a work-only social security card, they will likely not be eligible for FAFSA funding. Still, they will be eligible for Dream Act funding through CSAC.
For more on the Dream Act, click here.
Grant
Available through the FAFSA and the California Student Aid Commission (CSAC)
Free money! You do not have to repay grants.
Pell Grants (FAFSA) are available to students demonstrating a financial need
Scholarship
Free money from a private funding source
The funder determines the criteria that must be met to qualify for the scholarship
Can be competitive
Most use information from the FAFSA to determine scholarship rewards
Subsidized Loan
Available through FAFSA
For students who demonstrate a financial need
The government pays the interest while the student is enrolled at least part-time, and for six months after graduation or during any deferment periods
Unsubsidized Loan
Available through FAFSA
Available to all students, no matter financial need.
Interest accumulates upon loan disbursement and will be included in payments charged to student once in repayment