Understanding Financial Aid Essentials

 
Understanding Financial
Aid
 
 
Learning Outcomes
 
Students will be able to…
1.
Name the 3 different types of assistance offered through Financial Aid.
2.
Understand the difference between Subsidized and Unsubsidized Loans
3.
Read and interpret their Financial Aid Award
4.
Identify 3 factors to maintain SAP
 
Financial aid is meant to 
HELP
 you pay for college.
 
Financial Aid is 
not a guarantee 
to pay for all your expenses.
 
Eligibility is 
based on your own family’s 
income; therefore
everyone’s award is different.
 
The 
maximum
 amount of money is based on your cost of
attendance!
 
What is the role of Financial Aid?
 
Where do financial aid funds
come from?
 
State & Federal Money
 
Tax Dollars – Yours and Mine
Funds awarded are a 
privilege…not owed 
to you!
HOW MUCH WILL TUITION &
FEES BE PER SEMESTER?
 
Tuition
 
 0-6 units $1,655           6.01 + units $
2,871
Mandatory
 Fees         $627.83                 $627.83
Total Cost Per Semester Tuition/Fees
   
$2,292.83             $3,498.83
    Less than Full time                          Full time
For additional information visit: 
https://www.csusb.edu/student-
financial-services/tuition-and-fees/academic-year-2020-2021
 
 
Completing the FAFSA offers 3 different Types of Aid
 
Federal Work Study Program
Find  job on campus
Work flexible hours
Earn anywhere from $12 -
$17.78 per hour
Work up to 20 hours per
week
https://www.csusb.edu/financ
ial-aid/current-
students/federal-work-study
 
FREE money!
Federal Pell Grant
Federal Supplemental Educational
Opportunity Grant (FSEOG)
Cal Grant
Educational Opportunity Grant
(EOP)
State University Grant
 
Money that you BORROW
and must pay back!
Subsidized Loans
Unsubsidized Loans
CA Dream Loan
 
D
irect 
Subsidized
 Loan Program
-
The interest 
Does Not 
accumulate while you are
in school, must be enrolled in at least half-time
status
-
Max offered for Freshmen: 
$3,500
-
Interest Rate 2020-2021: 
2.75%
 
Direct 
Unsubsidized
 Loan Program
-   The interest accumulates while you are in school
-
Max offered for Freshmen: 
$2,000
-
Interest Rate 2020-2021: 
4.3%
What’s the difference between Subsidized and
Unsubsidized?
 
 
California Dream Loan
 
-
The Interest 
Does Not 
accumulate
while you are enrolled in school
-
Not all who are eligible will be
offered loan
-
Funds are limited
 
1) Accept & View loans on MyCoyote
2) Complete Entrance Counseling
 
-   First time borrowers must complete at
 
www.studentaid.gov
3)  Sign Master Promissory Note (MPN)
 
www.studentaid.gov
-
You can complete these items 5-7 business days after you
accepted your loan on MyCoyote
-
You can check your to-do list when it’s ready.
4)
 
CA Dream Loan
-  Sign Master Promissory Note (MPN)
http://www.heartlandecsi.net/
 
 
3 Steps for Accepting Loan(s)
 
 
1)  If you were offered a Subsidized and Unsubsidized
 
Loan what would your first choice be? Why?
 
2)  Do you have to accept the loan(s) that are offered?
 
3)  If you have accepted a loan will you automatically
receive it?  Yes or no ……why?
POP QUIZ
 
F
ree money, but you must apply for it.
MyCoyote Scholarship Application
https://www.csusb.edu/financial-aid/current-
students/scholarships
Applying for scholarships is never a waste of time!
Applications open November 1
st
 and priority date March 2
nd
deadline
Scholarships are very competitive
Focus on ANSWERING the question!
You can also apply for outside scholarships not
    the one’s offered by our school
 
What are Scholarships?
 
Financial Aid’s MAXIMUM Budget is Based on
Where you Live
Here is an example of a cost of attendance
Disbursement of Financial Aid
1.
Financial Aid is disbursed approximately 
10 days before school 
starts 
(If you are
officially enrolled in 12 units) 
and is disbursed on semester basis
2.
If “Anticipated OR Pending Financial Aid” is displayed on your account, your classes
will not be cancelled
3.
Your financial aid will release to the Student Financial Services office to help pay for
fees
4.
If you have a remaining balance it will be mailed or sent to you via direct deposit
(you can sign up for Direct Deposit by visiting 
https://www.csusb.edu/student-
financial-services/services/direct-deposit
)
5.
If your financial aid does not cover your total charges, you are still responsible for
paying the difference on the payment deadline date of 
August 13, 2020
Satisfactory Academic Progress
(S.A.P) 
The Financial aid office conducts an annual review of your grades. You must
maintain “Satisfactory Academic Progress” in order to
receive and continue to receive financial aid
 
1)You must maintain a minimum of 
2.00
 grade point average (GPA)
 
2) You must complete a minimum of 
80% 
of your 
attempted units
3) Only eligible for a maximum of 180 attempted units at Cal State San Bernardino
    and other colleges.
 
Aggregate Limits
Undergrad Students
 
The aggregate Stafford Loan limit is $31,000 for
dependent undergraduate students.
The aggregate limit for independent undergraduate students and dependent
students whose parents are unable to obtain Direct PLUS Loans is nearly twice
as much at $57,500. No more than $23,000 may be in Subsidized Loans
Aggregate Limits
Grad Students
 
$138,500 for graduate or
professional students. No more than
$65,500 of this amount may be in
subsidized loans. The graduate
aggregate limit includes all federal
loans received
for undergraduate study.
Independent
Graduate or
Professional
Students
Independent
Undergraduate
Students/Dep
w/PLUS denied
loan
Dependent
Students
 
Tuition
 
Parking
 
Housing
 
Insurance
 
Books
 
School Supplies
 
Food
 
Transportation
 
Saving
 
BEING SMART OR WASTEFUL
WITH MONEY
 
Failing classes (Not
taking classes seriously)
 
Shopping Spree
Expensive Cell Phone
    Contracts
 
Lend or give Money to
Family or Friends
 
Socializing
 
 
 
Smart use of
Dollars
Wasteful
 
Applying for Financial Aid
 
 
Must apply every year in order to receive it
Organization is key
Students can submit their FAFSA OR Cal Dream Act
beginning October 1
st
 of each year
Priority deadline is 
March 2
nd 
 
of each year
Save your FSA ID and Password
Make sure you create an FSA ID and Password for your
parent(s)
Office of Financial Aid & Scholarships
 
Office Hours:
  
Monday –Friday   8:00am-5:00pm
           **Currently Operating Virtually**
Located:                University Hall 150
Located:                University Hall 150
Phone Number:    (909) 537-5227
Phone Number:    (909) 537-5227
Fax:                       (909) 537-7024
Fax:                       (909) 537-7024
Email:                   financialaid@csusb.edu
Email:                   financialaid@csusb.edu
Visit Office of Financial Aid & Scholarships Website
https://www.csusb.edu/financial-aid
 
 
 
Questions?
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Explore key aspects of financial aid with Veronica Medina, the Financial Aid Wellness Coordinator. Learn about different types of financial aid assistance, distinguishing features of subsidized and unsubsidized loans, reading and interpreting financial aid awards, factors for maintaining Satisfactory Academic Progress (SAP), the role of financial aid, funding sources, tuition and fees breakdowns, completing the FAFSA for various aid types, and understanding the difference between subsidized and unsubsidized loans.


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  1. Understanding Financial Aid Veronica Medina Financial Aid Wellness Coordinator

  2. Learning Outcomes Students will be able to 1. Name the 3 different types of assistance offered through Financial Aid. 2. Understand the difference between Subsidized and Unsubsidized Loans 3. Read and interpret their Financial Aid Award 4. Identify 3 factors to maintain SAP

  3. What is the role of Financial Aid? Financial aid is meant to HELP you pay for college. Financial Aid is not a guarantee to pay for all your expenses. Eligibility is based on your own family s income; therefore everyone s award is different. The maximum amount of money is based on your cost of attendance!

  4. Where do financial aid funds come from? State & Federal Money Tax Dollars Yours and Mine Funds awarded are a privilege not owed to you!

  5. HOW MUCH WILL TUITION & FEES BE PER SEMESTER? 0-6 units $1,655 6.01 + units $2,871 Tuition Mandatory Fees $627.83 $627.83 Total Cost Per Semester Tuition/Fees $2,292.83 $3,498.83 Less than Full time Full time For additional information visit: https://www.csusb.edu/student- financial-services/tuition-and-fees/academic-year-2020-2021

  6. Completing the FAFSA offers 3 different Types of Aid Federal Work Study Program Find job on campus Work flexible hours Earn anywhere from $12 - $17.78 per hour Work up to 20 hours per week https://www.csusb.edu/financ ial-aid/current- students/federal-work-study FREE money! Money that you BORROW and must pay back! Subsidized Loans Unsubsidized Loans CA Dream Loan Federal Pell Grant Federal Supplemental Educational Opportunity Grant (FSEOG) Cal Grant Educational Opportunity Grant (EOP) State University Grant

  7. Whats the difference between Subsidized and Unsubsidized? Direct Subsidized Loan Program - The interest Does Not accumulate while you are in school, must be enrolled in at least half-time status - Max offered for Freshmen: $3,500 - Interest Rate 2020-2021: 2.75% Direct Unsubsidized Loan Program - The interest accumulates while you are in school - Max offered for Freshmen: $2,000 - Interest Rate 2020-2021: 4.3%

  8. California Dream Loan The Interest Does Not accumulate while you are enrolled in school Not all who are eligible will be offered loan Funds are limited - - -

  9. 3 Steps for Accepting Loan(s) 1) Accept & View loans on MyCoyote 2) Complete Entrance Counseling - First time borrowers must complete at www.studentaid.gov 3) Sign Master Promissory Note (MPN) www.studentaid.gov - You can complete these items 5-7 business days after you accepted your loan on MyCoyote - You can check your to-do list when it s ready. 4) CA Dream Loan - Sign Master Promissory Note (MPN) http://www.heartlandecsi.net/

  10. POP QUIZ 1) If you were offered a Subsidized and Unsubsidized Loan what would your first choice be? Why? 2) Do you have to accept the loan(s) that are offered? 3) If you have accepted a loan will you automatically receive it? Yes or no why?

  11. What are Scholarships? Free money, but you must apply for it. MyCoyote Scholarship Application https://www.csusb.edu/financial-aid/current- students/scholarships Applying for scholarships is never a waste of time! Applications open November 1st and priority date March 2nd deadline Scholarships are very competitive Focus on ANSWERING the question! You can also apply for outside scholarships not the one s offered by our school

  12. Financial Aids MAXIMUM Budget is Based on Where you Live Here is an example of a cost of attendance Commuter On-Campus Off-Campus Cost of Attendance Tuition/Fees $6956 $6956 $6956 Books/Supplies $1272 $1272 $1272 Food/Housing $6725 $12142 $11054 Transportation $1566 $610 $1342 Personal/Misc, $1744 $1566 $2620 TOTALS $18263 $22546 $23244

  13. Disbursement of Financial Aid 1. Financial Aid is disbursed approximately 10 days before school starts (If you are officially enrolled in 12 units) and is disbursed on semester basis 2. If Anticipated OR Pending Financial Aid is displayed on your account, your classes will not be cancelled 3. Your financial aid will release to the Student Financial Services office to help pay for fees 4. If you have a remaining balance it will be mailed or sent to you via direct deposit (you can sign up for Direct Deposit by visiting https://www.csusb.edu/student- financial-services/services/direct-deposit) 5. If your financial aid does not cover your total charges, you are still responsible for paying the difference on the payment deadline date of August 13, 2020

  14. Satisfactory Academic Progress (S.A.P) THE FINANCIAL AID OFFICE CONDUCTS AN ANNUAL REVIEW OF YOUR GRADES. YOU MUST MAINTAIN SATISFACTORY ACADEMIC PROGRESS IN ORDER TO RECEIVE AND CONTINUE TO RECEIVE FINANCIAL AID 1)You must maintain a minimum of 2.00 grade point average (GPA) 2) You must complete a minimum of 80% of your attempted units 3) Only eligible for a maximum of 180 attempted units at Cal State San Bernardino and other colleges.

  15. Aggregate Limits Undergrad Students The aggregate Stafford Loan limit is $31,000 for dependent undergraduate students. The aggregate limit for independent undergraduate students and dependent students whose parents are unable to obtain Direct PLUS Loans is nearly twice as much at $57,500. No more than $23,000 may be in Subsidized Loans

  16. Aggregate Limits Grad Students Independent Undergraduate Students/Dep w/PLUS denied loan Independent Graduate or Professional Students $138,500 for graduate or professional students. No more than $65,500 of this amount may be in subsidized loans. The graduate aggregate limit includes all federal loans received for undergraduate study. Dependent Students Subsidized Loan Limit Unsubsidize d Loan $23,000 $23,000 $65,500 $8,000 $34,500 $73,000 Limit Total Loan Limit $31,000 $57,500 $138,500

  17. BEING SMART OR WASTEFUL WITH MONEY Smart use of Dollars Wasteful Tuition Failing classes (Not taking classes seriously) Parking Shopping Spree Expensive Cell Phone Contracts Housing Insurance Books Lend or give Money to Family or Friends School Supplies Socializing Food Transportation

  18. Applying for Financial Aid Must apply every year in order to receive it Organization is key Students can submit their FAFSA OR Cal Dream Act beginning October 1st of each year Priority deadline is March 2nd of each year Save your FSA ID and Password Make sure you create an FSA ID and Password for your parent(s)

  19. Office of Financial Aid & Scholarships Office Hours: Monday Friday 8:00am-5:00pm **Currently Operating Virtually** Located: University Hall 150 Phone Number: (909) 537-5227 Fax: (909) 537-7024 Email: financialaid@csusb.edu Visit Office of Financial Aid & Scholarships Website https://www.csusb.edu/financial-aid

  20. Questions?

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