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2012_financial_aid_basics

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									Financial Aid Basics




California State University,
        Northridge
         Apply for Financial Aid
• Step 1: Complete a Free Application for
  Federal Student Aid (FAFSA)
     • January 1—March 2 is the priority filing period
     • www.fafsa.ed.gov
     • CSUN school code: 001153


• Step 2: Submit all documents required by
  your school
       Dependent vs. Independent
•   Born before January 1, 1988 (for 2011-12)
•   Master’s or doctorate student
•   Married as of FAFSA filing date
•   Children you support over 50%
•   Legal dependents other than a spouse
•   Orphan/ Ward of Court/ legal guardianship
•   Veteran or Active duty military
 Satisfactory Academic Progress (SAP)
• To be eligible for aid, students must meet all
  of the following standards:
  – Pass/complete 80% of all units attempted at CSUN

  – Complete undergraduate degree within 150
    attempted units, including transfer units

  – Be in good academic standing with the University
                  Types of Aid
• Grants—Gift aid you do not have to pay back

• Scholarships—Free money usually based on merit

• Work-Study—Money you earn for college in a job

• Student Loans—borrowed money to be repaid
  with interest
                   Grants
• Federal Pell Grant $555 to 5,550

• FSEOG              $500

• State Univ Fee     $5,472
                  Cal Grants
• Two forms are required
  – File FAFSA by March 2nd
  – Must send GPA verification by March 2nd
• If you were awarded a Cal Grant:
  – Notify the California Student Aid Commission that
    you are transferring
  – Grant Record Change Form for Students
  – 1 (888) CA GRANT
  CSUN Institutional Scholarship
• Matador Scholarship Program
  – Up to $1,500
  – 3.0 GPA, enrolled full-time
  – Must file a FAFSA by March 2
  – Applications and deadlines will be posted
    on CSUN’s financial aid web site
               Stafford Loans
• Two types of Stafford loans (3.4% or 6.8%
  interest):

  – Subsidized: Interest paid by government while
    you are enrolled ½ time in college
  – Unsubsidized: The borrower is responsible for all
    interest on the loan
           Stafford Loan Limits
           Subsidized       Additional Unsubsidized
• 1st year $3,500           $2,000 to $6,000
• 2nd year $4,500           $2,000 to $6,000
• 3rd year+ $5,500          $2,000 to $7,000

• Lifetime Limits:
  – Dependent Undergrad     $31,000
  – Independent Undergrad   $57,500
    First-time borrowers at CSUN
• 3 steps to receive loan funds at CSUN
  – Accept the loan on the Web Portal
  – Loan entrance counseling required, online
  – Master promissory note (MPN) online

  (You must be enrolled in at least 6 units)
        PLUS loans for Parents
• Available to parents of dependent students

• Apply with Dept. of Education, based on credit

• Complete Federal PLUS Loan Request form for
  CSUN
             Items to Check
• CSUN Email—this is how you receive
  communication from Financial Aid

• To Do List—Displays items that must be
  submitted to complete your file

• myCSUN Portal—To view your financial aid
  award and/or activate loans
Anticipated
    Aid
Balance
 Check
    Potential Detours to Receiving Aid
•   Not submitting a required form/information
•   Not registered in units
•   Expected graduation date
•   Satisfactory Academic Progress (SAP)

(Dropping units may result in repayment of all or
  part of aid received)
            How to Contact Us
•   By phone: (818) 677-4085
•   By email: financial.aid@csun.edu
•   In Person: Bayramian Hall
•   Counselor walk-in: 10am-3pm, Mon-Wed
•   Website: www.csun.edu/finaid

								
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