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Financial Aid Changes

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Financial Aid Updates-Changes

 

Board of Governor's Fee Waiver (BOG) is now the *California College Promise Grant

*Same process, requirements and criteria for the BOG now apply to the CA College Promise Grant.

 

You Can Apply for Financial Aid Earlier Than Ever Before!

On Sept. 14, 2015, President Obama announced significant changes to the Free Application for Federal Student Aid (FAFSA) process that will impact millions of students. Starting with the 2017­–18 application cycle, the following changes will be put in place:

Students will be able to submit a FAFSA earlier.  Students will be able to file a 2017–2018 FAFSA as early as October 1, 2016, rather than beginning on January 1, 2017. The earlier submission date will be a permanent change, enabling students to complete and submit a FAFSA as early as October 1 every year.

Students will use earlier income information. Beginning with the 2017–2018 FAFSA, students will be required to report income information from an earlier tax year. For example, on the 2017–2018 FAFSA, students will report their 2015 income information, rather than their 2016 income information.

Lifetime eligibility used (Pell Grants)

Effective July 1, 2012, students are now limited to 12 semesters (or 600%) of Federal Pell Grant eligibility during their lifetime. This change affects all students regardless of when or where they received their first Federal Pell Grant. The percentages are based off the annual award at fulltime enrollment status. For students with an annual award for 2011-2012 academic year, attending 12 or more credits in each semesters (Fall and Spring for example), the percentage used for the 2011-2012 academic year is 100%. If you only attended 9 credits for two semesters, your percentage used for the academic year would be 75%. You may view your percentage of Federal Pell Grant used by logging into http://www.nslds.ed.gov/nslds_SA/ . Your 'Lifetime Eligibility Used' percentage will be displayed in the 'Grants' section.

Verification

To receive financial aid, federal law requires that applicants who are selected for verification must use the IRS Data Transfer. Students and parents who are unsuccessful in completing the IRS Data Transfer in FAFSA on the Web must provide IRS Tax Transcript. Transcripts are available from the IRS at 1-800-908-9946 or online at www.irs.gov Federal Tax Returns (1040) are no longer acceptable documentation for verification purposes.