The Financial Aid Process

9/22/2020 Questions About Financial Aid  What is financial aid?  Does it cost money to apply?  How can I get financial aid?  Where do I fill out the FAFSA?  Financing College: The Financial Aid Process    Money that can help you pay for college. No. It is free to apply! To qualify, you must fill out the Federal Application called the FAFSA On the internet you can fill out your application at https://fafsa.gov FSA ID  What this means:   You will create a username and password Both student and parent (for dependent students) will need to have an FSA ID from now on Types of Financial Aid Where will you use your FSA ID?  Gift Aid – Grants or scholarships that do not need to be repaid. • FAFSA on the Web • NSLDS Student Access • Studentloans.gov Federal: Pell Grant and SEOG  State: Cal Grant B & C, FTSSG, and CPG  Work Aid – Money earned by the students as payment for a job on or off campus.  Loans – Borrowed money to be paid back, usually with interest. • Studentaid.gov • TEACH Grant website    Federal: Work-study Federal: Subsidized and Unsubsidized Direct Loans Federal Grant Programs    Pell Grant – up to $6,345 per academic year. Supplemental Educational Opportunity Grant (SEOG) – up to $600 per academic year. Federal Work-Study (FWS) – up to $3,000 per academic year. State Grant Programs  Cal Grant B  Cal Grant C  Full-Time Student Success Grant (FTSSG)      Up to $1,672 per academic year. Up to $1,094 per academic year. Up to $2,000 per academic year. California College Promise Grant (used to be called the BOG Fee Waiver)  If awarded, covers the tuition of $46/unit.  Student pays just $1/unit (up to 10 units) plus a $5 Student Activity Fee for a total of $15 (or less) per semester! FT3 (First-time, Full-time, Free Tuition) – Similar to Promise Grant but requires students to enroll in 12 or more units, and keep a 2.0 GPA to be eligible.  This program is available to students who do not qualify for regular financial aid 1 9/22/2020 State Grant Programs (Cont’d)  Types of Applications Chafee Grant – up to $5,000 per academic year.  Only for current or former Foster Youth.  Must not have reached their 22nd birthday as of July 1.  Based on financial need.  Must be enrolled at least half-time.  Must complete both the FAFSA and the Chafee Application:   FAFSA www.fafsa.gov  Undocumented students covered under AB540 or DACA should complete the California Dream Act Application www.caldreamact.org  Cal Grant GPA Verification Form  Other forms as required by the college  Foster Youth Coordinator: Eva Monteverde 925-473-7516 Scholarships  Additional financial assistance that can help pay for the cost of college.  Funds do not have to be paid back.  Applications are separate from FAFSA, Dream Act, and Cal Grant GPA forms.  Any student can apply for scholarships!  Scholarships may be awarded based on any number of criteria, including:  Academic achievements  GPA  Athletics  Major  Extracurricular activities  Financial need  Ethnicity  Even something as unusual as your hair color! How do I Apply for Scholarships? Hundreds of scholarships are available for both continuing and transferring students:   LMC Foundation Scholarships  Transfer scholarships  Local Scholarships  LMC Scholarship period opens in November and closes in February.  Recipients of high school scholarships should have all scholarships sent to the LMC Scholarship office and they should speak with the Scholarship Coordinator, Tammy Oranje. (925) 473-7518 or email Grants vs. Scholarships Grants Scholarships  Require an application  Require an application  Do not have to be paid back  Do not have to be paid back  Provided by government  Provided by private donors  Cover different expenditures  Allocated for specific costs  Funds are allocated to students based on financial need  Funds are allocated to student based on academic, financial, athletic, and other points 2018 Federal Tax Return (signed) or Tax Transcripts (along with W2’s) or other income documentation What Happens Next?  Student and college(s) listed on the FAFSA will receive the Student Aid Report (SAR) from the Department of Education with 7-10 business days once submitted.  Students who complete the FAFSA or Dream Act and a Cal Grant GPA Verification Form will receive the California Aid Report (CAR).  Students and families should review the SAR and/or CAR for important information and accuracy of data.  College will match the admissions records with the FAFSA and other required financial aid forms to determine aid eligibility.  College will email students at the InSite Portal Email to complete any additional documents (as needed).  Make sure your SSN is correct with A&R and on your FAFSA! 2 9/22/2020 What Happens Next (Cont’d)? Insite Portal: m.4cd.edu  Student will need to turn in any items required to the Office of Financial Aid.  There’s an app for that!  Processing of documents can take up to 6-8 weeks.   College will email (via InSite Portal) the student once they have been awarded.  If the student is deemed eligible by the Department of Education and is enrolled in a degreeapplicable program, the Office of Financial Aid will award and disburse aid to the student. All communication from the Office of Financial Aid will be done via student email which can be accessed through the student’s InSite Portal.  EXCEPTION: Students who do not meet Satisfactory Academic Progress will be ineligible for Financial Aid.  Students are advised to regularly check their student email (through InSite)  To check your financial aid status, click on the tile for Financial Aid Special Circumstances  Financial Aid now takes into consideration the prior-prior year income.   Disbursements  Example: the 2020-2021 FAFSA application requires income and tax information filed for 2018. Contact the Office of Financial Aid if there are circumstances for the current school year that affect the family’s ability to pay for college:  Loss or reduction in parent or student income or assets.  Death or serious illness.  Natural disasters affecting parent or student income or assets.  Unusual medical or dental expenses not covered by insurance.  Reduction in child support, Social Security benefits or other untaxed benefits.  Any other unusual circumstances that affect a family’s ability to contribute to higher education. Student aid is disbursed twice a semester.  50% during the first week of school.  50% during approximately the ninth week of school.  Three days prior to the disbursement the student’s units are verified via the Data System to pay students based on their enrollment status.  The aid will be disbursed to the student based on financial need and the number of units they are enrolled in. Disbursement Options  Sign up with BankMobile for direct deposit into a personal bank account or create a bank account with BankMobile.  Log in to m.4cd.edu  Once logged in, tap on the “Financial Aid” tile  Select “My FA Disbursements” from the menu  Select “BankMobile - First Time Setup” to choose your disbursement method:  BankMobile Vibe Checking Account  Deposit to an Existing Account What is SAP?  SAP is Satisfactory Academic Progress.  Students at Los Medanos College must maintain SAP in order to receive Financial Aid without interruption.  Within the Contra Costa Community College District you must do the following to maintain SAP:  Maintain a minimum 2.0 GPA each semester and overall.  Complete 67% of the units attempted each semester and overall.  Complete your educational goals in a timely manner. 3 9/22/2020 Federal Educational Rights and Privacy Act (FERPA)  FERPA protects the privacy of educational records.  Once a student (of any age) enrolls in college their educational records cannot be released to anyone other than the student.  Students may choose to release their rights by signing a release form.  The FERPA form can be used to allow parents access to the student’s educational records. Basic Questions?    Need Assistance?  Students can call the Office of Financial Aid for information at 925-473-7525.  Email finaidoffice@losmedanos.edu from your InSite Email.  Specific information about a student file requires:  Providing your student ID number, full name, DOB, and SSN over the phone.  An email from the InSite Portal student email including your student ID number.  Showing a photo ID over Zoom. Chat with Penny! She can help with general questions and tells jokes if you ask her nicely. Check out our website!  https://www.losmedanos.edu/fi nancialaid/index.aspx  Videos and links to Zoom hours can be found here Need Additional Assistance? FINANCIAL AID ZOOM SESSIONS Financial Aid Coordinators  Coordinators are assigned by the first letter of the student’s last name:  A-E – Beverly Bui 925-473-7349 bbui@losmedanos.edu  F-L – Faidra Rodriguez 925-473-7514 frodriguez@losmedanos.edu  M-N – Tammy Oranje 925-473-7518 toranje@losmedanos.edu  O-R – Deborah Baskin 925-473-7519 dbaskin@losmedanos.edu  S-Z – Penelope Challenor 925-473-7524 p.murphy755@losmedanos.edu Remote Office Hours  The Office of Financial Aid hours of availability during the Fall Semester:  Monday  Friday - Thursday 9:00 a.m. – 5:30 p.m. CLOSED 4 9/22/2020 Summary of the Financial Aid Process  Submit all required documents by the college’s published deadline dates.  Keep a copy of all paperwork submitted.  Review the Student Aid Report (SAR) and/or the California Aid Report (CAR).  Watch for emails from the Office of Financial Aid in the InSite Portal.  Be sure to renew the FAFSA or Dream Act application every year as soon as possible after October 1st to receive the best Financial Aid award package possible. 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