DID YOU KNOW?
- NEW 2014-15 California Middle Class Scholarship for Undergraduate Student [PDF]
- NEW 2014-15 Ten Things you need to know about California Middle Class Scholarship
- Financial Aid Shopping Sheet FAQs [PDF]
- 2014-15 Terms and Conditions of Award [PDF]
- California State University Net Price and Cost Calculator
- Higher Education Consumer Disclosures
- Notice of Financial Aid Penalties for Drug Law Violations [PDF]
HOW IT WORKS
Familiarize yourself with the types of aid available, how much aid you'll need, and whether you're eligible.
With the exception of some scholarships, everyone must use the Free Application for Federal Student Aid (FAFSA) to apply for aid. When you're ready to apply, fill out the online FAFSA
The Department of Education will inform you and CSUSB about your Expected Family Contribution (EFC). Then, CSUSB will tell you how much and what types of aid you qualify for. Check your CSUSB email often - this is the mode by which we communicate with you.
If your aid is in the form of loans, become familiar with the repayment process. Loans are legal obligations, so before you take out a student loan, think about the amount you'll have to repay over the years.
Financial aid programs provide support for students to help meet the costs of obtaining a college education. Funding for such programs is provided by the federal and state governments, the individual colleges and universities, and a variety of other public and private sources.
Financial aid is split up into two categories based on the reason the money is awarded:
Achievement-based aid is awarded to students who have a special characteristic, skill, talent, or ability. Typically achievement-based aid is in the form of scholarships.
Need-based aid is provided to students who demonstrate financial need. Most financial aid, particularly public-funded aid, is awarded on the basis of financial need determined through the application process and in accordance with a prescribed federal formula.
4 BASIC TYPES OF FINANCIAL AID PROGRAMS AVAILABLE
- GRANTS: Federal or state gift assistance with no obligation for work or repayment
- LOANS: Providing funds now, but with a future repayment obligation
- SCHOLARSHIPS Gift assistance with no obligation for work or repayment
- WORK-STUDY Part-time work while attending the institution
Most often, financial aid will come to you in the form of a package consisting of a combination of the different types of aid available. The combination of aid offered depends on the availability of funds, your eligibility, the timeliness with which the application process is completed, and your year in school.