FA Types of FA

Types of Financial Aid

Most financial aid is awarded based on demonstrated financial need. Financial need is the difference between cost of attendance (COA), and estimated family contribution (EFC). That is, the difference between what it will cost to attend college and what the family can be expected to contribute toward educational costs.

THE MOST COMMON TYPES OF AID ARE GRANTS, WORK-STUDY, LOANS, AND SCHOLARSHIPS.

GRANTS are financial aid that the student does NOT have to repay and usually are based on financial need. Pell Grants and Cal Grants are the largest sources of FREE MONEY. The Pell Grant comes from federal funds an the Cal Grant comes from state funds.

Federal Academic Competitiveness Grant (ACG) is awarded to students who are eligible to receive a Federal Pell Grant. Students must be in the first or second year of their program, must have graduated from high school after January 1, 2006 for a first year student and after January 1, 2005 for a second year student and have been enrolled in a rigorous secondary school course of study, as defined by state and recognized by the US Department of Education.

WORK-STUDY is an employment program that allows students to earn money working on or off campus. It is also an excellent opportunity to acquire valuable experience, usually in the field of the student's choice.

LOANS are borrowed dollars that MUST BE REPAID WITH INTEREST. Some loans are need-based while others are for all qualified students, regardless of the household income.

OTHER SOURCES of financial aid should be explored. Such sources include scholarships ("check out" fastweb.com!), campus-based programs, and military benefits.

Board of Governor Fee Waiver (BOGFW)

The Board of Governor Fee Waiver (BOGFW) is a state-wide program, exclusive to community colleges. Applicants must be California residents.

The BOGFW offers the following benefits:

Waives Tuition Fee

Waives a Portion of the Parking Permit Fee

The application process for a Fee Waiver begins in the Summer. If the student applies for the fee waiver in the Summer, they need not apply for Fall and Spring. The application process is simple and no minimum number of units are required. Applications are available on the Fullerton College website and click on WebStar.

The following outlines the three qualification methods:

METHOD A:

1) Receiving monthly cash assistance

2) Dependent student whose parents are receiving TANF/CalWorks or SSI/SSP as sole source of income

3) Eligible dependent of a United States Veteran

4) Recipient of the Congressional Medal of Honor, child of a recipient, or a dependent of a victim of the September 11, 2001 terrorist attack

5) Dependent of a deceased law enforcement/fire suppression personnel killed in the line of duty

METHOD B:

Household income

METHOD C:

Unmet need, through the completion of a FAFSA application.

TIP: You must re-apply each academic year.

NOTE: Fee Waivers for Summer term are not given automatically when a student applies for a Fee Waiver for Fall and Spring. It is the student's responsibility to notify the Financial Aid/Veteran Services Office of Summer enrollment plans. Failure to notify the Financial Aid Office will result in being dropped from classes for non-payment.

AB 540 is available to non-California residents who have completed at least three years of high school. The high school attended must have been within a California school district. The student must have obtained their high school diploma or the equivalent, a General Education Diploma (GED). Students must provide a certified copy of their high school transcripts. Students under this program do NOT pay non-resident tuition fees. This is equates to thousands of dollars of savings!

TIP: DO NOT disqualify yourself! Everyone should apply for financial aid. If your family’s income is too high, you may not receive need-based aid. However, you might qualify for scholarships, employment opportunities, or low-interest federal loans.