Financial Literacy FAFSA/DREAM Application
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FAFSA/DREAM Application Financial Literacy
It is borrowed, given, or earned money that can
What is financial aid? be obtained from various sources to help pay
for college.
FAFSA (Free Application for Federal Student Aid)
• Available October 1st for the upcoming academic year
WHEN • Must be renewed every year
• Available to H.S. graduating students, college students and
WHO returning adults
• U.S. citizens and eligible non-citizens (Permanent Residents)
HOW • Available on-line (preferred way) www.fafsa.gov
• Determines eligibility for federal and state financial aid programs
WHY • Used by colleges and universities to award institutional aid
How to Apply
Go to www.fafsa.gov
OR
Click on
FEDERAL AID
PELL GRANT WORK STUDY
$6,195 (2019-2020 amount) A need-based employment program that provides
on- and off-campus jobs to students.
$100- $4,000
FSEOG (Federal Supplemental
Educational Opportunity Grant)
$100 - $4,000
Need based
Parent PLUS Loan
Parent can borrow on behalf of student, lower interest
rate than many private lenders Not need based
TAKE STEPS TO MINIMIZE DEBT
Don’t borrow any more than
you absolutely need.
Grants and Scholarships - are
not paid back if you attend your
classes
Loans - must be paid back
What is an FSA ID?
An FSA ID is a username and password needed for the FAFSA, it is your
electronic signature.
Create a FSA ID
fsaid.ed.gov
Graduating high school students filling out the FAFSA – you and 1 parent will
need to create a FSA ID. (Takes 3-4 days to process)
If a parent does not have a Social Security number they print, sign
and mail in a signature page.
The Financial Aid Process
Receive and
review the Complete
Complete FAFSA Student Aid verification
process (if selected)
Report
Receive and Complete all
review Respond
pending
Award Offer to College processes
Renew FAFSA
every year
CA DREAM Application (DREAM):
https://dream.csac.ca.gov/
Students who are not a US citizen or eligible Permanent
Resident AND If eligible under Assembly Bill 540 (AB540),
AB 2000, and/or SB 68
Application opensGetting Ready to apply for the
2020-2021 financial aid application
• Before starting the FAFSA on the Web (FOTW), gather:
• Student driver’s license
• Student Alien Registration Card, if applicable
• Student and Parent
Social Security cards
2018 W-2 and 1099 Forms and records of money earned
and other taxable benefits
2018 federal income tax form (even if not yet completed)
Records of untaxed income
Current bank statements
Business, farm, and other real estate records
Records of stocks, bonds, and other investments
• Complete FOTW Worksheet (optional)
• Create a file for copies of all financial aid documents submitted 1
1STATE AID
sophomore year and junior
Application year GPA
Calculated on an
unweighted scale
Cal
Deadline
Grant
Consideration March 2nd
You must list at least one California College/University on the
FAFSA or DREAM Application to be consideredCal Grant Entitlement Awards
Cal Grant A Cal Grant B
For high school seniors, recent For high school seniors, recent
high school grads, and transfer high school grads
students
GPA of at least 3.0 for high GPA of at least 2.0 for high
school students and 2.4 for school students and 2.4 for
transfer students transfer students
Family income and assets • Family income and assets
below state ceilings below state ceilings
• From disadvantaged or low
income families
Must demonstrate financial need
Cal Grant C Awards - for students from low to middle income
families pursuing vocational programs of study
14California
Student Aid Commission
WEBGRANTS4STUDENTS.ORG
After applying for
Financial Aid create a
WebGrants account for
access to Cal Grant
award information
Making education beyond high school financially accessible to all Californians.California Chafee Grant
• The California Chafee Grant program provides up to
$5,000 annually to current and former foster youth for
college or vocational training at any accredited
college in the U.S., based on available funding
• To be eligible, foster youth must be a current or former
foster youth who was a dependent or ward of the court,
living in foster care for at least one day between the
ages of 16 and 18 and not have reached their 26th
birthday as of July 1 of the award year
To apply for a
• Current or former foster youth are encouraged to apply Chafee Grant, go to:
during their senior year of high school as early as www.chafee.csac.ca.gov
October 1
• To apply, foster youth must complete:
• FAFSA or Dream (Every year)
• California Chafee Grant Program Application (One time)Middle Class Scholarship (MCS)
• Undergraduate students with family incomes of up to $177,000 and
net worth of assets of up to $177,000 who:
• Submit FAFSA or CA Dream Act Application by March 2
• attend a UC or CSU
• are U.S. citizens, permanent residents, or have AB 540/AB 2000/SB 68 status
and
• are California residents
• Annual award amounts:
• Up to 40% of system tuition and systemwide feesInstitutional Aid
Community Colleges
California College Promise Grant (formerly
known as the BOG Fee Waiver)
Income Based
*California Promise
NOT Income Based
* Not offered at every California Community College
All high School students who will be graduating
this academic year are First Time college studentsInstitutional Aid (cont) • California State University (CSU) State University Grant - (SUG) at least equal to the amount of the State University Fee; students with an (EFC) of $4,000 or less; and who are not receiving a Cal Grant or other award designated to cover fees • University of California (UC) University Grants and Scholarships Blue and Gold Plan – assistance with UC system wide tuition and fees for California residents whose total family income is less than $80,000 a year and qualify for financial aid. • Private Colleges/Universities Grants/Scholarships – varies by institution
BE SMART ABOUT SCHOLARSHIPS
Thousands of scholarships exist.
Some colleges automatically consider
all applicants for scholarships. Other
scholarships from colleges, universities,
and private sources require special
applications and additional work and
Based on various criteria:
• Merit motivation to make it happen.
• Need
• Major
• Ethnicity/Gender
Never pay money to apply
• Athletic/Extracurricular Activities to an outside scholarship.You must APPLY for the FAFSA or the DREAM
application to be considered for financial aid and to
find out what you might be eligible for
WHAT IF…….
I am not sure about college
I am not going to college
I am going into the militaryGet helping filling out your FAFSA/DREAM Application from the EXPERTS
CASH FOR COLLEGE NIGHT at YOUR school! Don’t miss out!Questions
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