Once your financial aid eligibility (or need) is determined, then our task is to provide a package of aid which best serves your particular situation.
We prefer to meet your need with grant money, which need not be repaid. However, our funds are always limited. We expect that at least a part of all awards will be as a grant, as we require all applicants to apply for the FPG also, all applicants are considered for the Board of Governors Fee Waiver (BOGFW).Whether or not you receive grant aid other than the FPG is indicated by your own financial need, plus the availability of funds.
If funds allow, a truly needy student might receive an FSEOG and if an EOPS student, an EOPS grant. However, this cannot be guaranteed, due to fund limitations and legal restrictions.
Let’s take an example: Presume that you are a freshman student who will live at home. The college budget for this category of student is $11,238 for the academic year as a full time student.
| Therefore: |
College Budget |
$11,238 |
| LESS: |
Effective family Contrabution (EFC) |
0 |
| |
Financial Need |
$11,238 |
| LESS: |
BOGW |
$762 |
| LESS: |
Federal Pell Grant |
$5,550 |
| |
Remaining Financial Need |
$4,962 |
If funds allow, we could meet this remaining need by awarding an FSEOG for $600 plus a Federal work-study job of $3,000. If you prefer a loan, there are additional steps that you must do. First, you must accept the award package that includes the grant funding. Complete and submit a Loan Request Form to the SFASO to determine your eligibility and the amount of loan money.
As another example, let us take the same case but this time assume a higher parental contribution.
| Therefore: |
College Budget |
$11,238 |
| LESS: |
Effective family Contrabution (EFC) |
2,926 |
| |
Financial Need |
$11,238 |
| LESS: |
BOGW |
$762 |
| LESS: |
Federal Pell Grant |
$2,600 |
| |
Remaining Financial Need |
$4,950 |
This need could be met by a $3,000 Federal work-study job or a Federal Stafford Loan. Complete and submit a Loan Request Form to the SFASO to determine your eligibility and the amount of loan money. |