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PAYING FOR COLLEGE - Financial Aid
Click "Expand" to view this page in Tablet format The cost of attending college includes a number of elements. Colleges and universities estimate the cost of attending their institution for three different living situations. Select the living situation below to see the range of costs by type of college. Costs here are estimates for the 2011-12 academic year and are not a guarantee of fees or your actual costs for other expenses.
The fees displayed in the charts below at the California Community Colleges, California State University, and the University of California are for California residents only. Nonresidents pay an additional $22,878 in tuition and fees at UC, $11,160 at CSU, and about $180 more per unit at the California Community Colleges. In general, dependent students whose parents have been in California or independent students who have been in California more than one year are considered state residents. For more information on residency for determining fee levels, please see the websites of the college in which you are interested. Independent colleges have a range of tuition and fees from $9,500 to $39,000 and usually do not have additional tuition for nonresidents.
For on-campus living arrangements, this includes the cost of the dorm or apartment and any meal plan the student might have. It may also include estimates of groceries and eating out for students with small meal plans. Off-campus estimates include rent, groceries, and utilities. Commuter estimates include any rent paid to the student's parents, as well as groceries and utilities. Miscellaneous costs include estimates for personal expenses, entertainment, transportation, and, at some colleges, an allowance for health insurance.
The following data is from CaliforniaCollege.edu. For more information click on the following hyperlink: www.californiacolleges.edu/finance/how-much-does-college-cost.asp | Living On-campus | ||||
|---|---|---|---|---|
| California Community Colleges | California State University (CSU) | University of California (UC) | California Independent Colleges (based on median costs) | |
| Fees/Tuition | $864* | $6,489 | $13,200 | $30,144 |
| Books and supplies | $1,656 | $1,652 | $1,500 | $1,455 |
| Room and board | $7,800** | $10,607 | $13,200 | $9,330 |
| Miscellaneous | $3,096 | $3,829 | $3,300 | $3,218 |
| TOTAL | $13,416 | $22,577 | $31,200 | $45,147 |
| Living Off-campus | ||||
|---|---|---|---|---|
| California Community Colleges | California State University (CSU) | University of California (UC) | California Independent Colleges (based on median costs) | |
| Fees/Tuition | $864* | $6,489 | $13,200 | $30,144 |
| Books and supplies | $1,656 | $1,652 | $1,500 | $2,455 |
| Room and board | $10,863 | $11,379 | $9,500 | $9,330 |
| Miscellaneous | $4,059 | $4,041 | $4,200 | $3,812 |
| TOTAL | $17,442 | $23,561 | $28,400 | $45,901 |
| Living With Parents/Commuting from Home | ||||
|---|---|---|---|---|
| California Community Colleges | California State University (CSU) | University of California (UC) | California Independent Colleges (based on median costs) | |
| Fees/Tuition | $864* | $6,489 | $13,200 | $30,144 |
| Books and supplies | $1,656 | $1,652 | $1,500 | $2,455 |
| Room and board | $4,347 | $4,253 | $4,400 | $3,880 |
| Miscellaneous | $4,185 | $4,074 | $4,300 | $3,812 |
| TOTAL | $11,052 | $16,469 | $23,400 | $40,291 |
Types of Financial Aid Programs for Students in California
Take a look at how simple financial aid can be. To apply for many types of financial aid (federal and state) you must complete a Free Application for Federal Student Aid (FAFSA) for each year you are requesting aid.
Grants. Think of a grant as the ultimate graduation gift, because you don't have to pay it back.
Pell Grants (federal aid) are awarded to low-income students and Federal Supplemental Educational Opportunity Grants (SEOG) are for low-income students with exceptional financial need.
Cal Grants (state aid) are free money guaranteed to every high school senior that applies on time and meets income, eligibility and GPA requirements. See below for more information about Cal Grants.
Work-Study. Work at a part-time job that may help you with a career, and use the earnings to help finance your education.
Scholarships. Free money for college, usually based on your area of study or merit, such as good grades, high test scores, athletic, musical or other special talents, community service and sometimes financial need.
Loans. Federal loans are low-interest loans that come in all shapes and sizes.
Perkins Loans are administered by the college and are for students with exceptional financial need.
Subsidized Stafford Loans are available to students who meet financial requirements and are attending school at least half-time. With this loan, the government pays the interest from when you get the loan money until up to six months after you leave school. An unsubsidized Stafford Loan is available to any student regardless of financial need, but the student pays the interest.
PLUS Loans are available for the parents of students attending college.
For a Cal Grant, you must submit your verified GPA as well as the FAFSA. In addition, a number of other California state aid programs require their own application forms besides the FAFSA.
Are there deadlines? YES! Each college sets a deadline for "priority" filing of the FAFSA. You must file by that date to get a chance at the best money available. Below are some specific dates to keep in mind.
When is the best time to file? As early as possible! File as soon after January 1st as you can. If you decide to attend after January 1st, file as soon as you decide to attend college.
While the FAFSA Financial Aid Application is the quintessentially required form in the financial aid world, it’s not the only form you’ll be expected to fill out, especially if you are applying to any private colleges. Several hundred private colleges and some public colleges also require another form originated by the College Board, the CSS Profile: The College Scholarship Service Profile.
The profile is college specific, and is used to determine aid eligibility for non-federal financial aid, such as institutional scholarships and grants. This form tends to be more detailed than the FAFSA, and focuses on information needed pertaining to specific programs at each school. Having a separate form allows the school to ask more tailored questions.
Unlike the FAFSA, the CSS Profile is not free. The FAFSA can be submitted beginning on January 1 (or first business day of the new year). The CSS Profile can be submitted prior to January 1.
Each financial aid application uses different needs analysis formulas. Among other differences, the methodology used takes into account home equity, and also assumes contribution from the student. The CSS Profile asks you to separate your income throughout the year by season, and requires detailed reports of your assets, medical expenses, tuition reimbursements, scholarships and family gifts.
The Profile can be accessed at the following website: http://profileonline.collegeboard.com/index.jsp
New York - Associated Press Sunday, March 19, 2011
College financial aid awards aren't always as generous as they seem. To accurately compare the cost of attending various schools, students and parents will need to take a closer look at exactly what type of aid is being offered — and on what terms.
"Gift aid and loans are very different. And even within loans there are big differences," said Myra Smith, executive director of financial aid services at The College Board. "It can be hard for families to decipher the information without sitting down and thinking about it."
Other details can skew the value of an aid package too. In some cases, grants and scholarships may not be renewable or could be contingent on the maintenance of a higher-than-expected grade point average. As award letters start rolling in, there are three big figures to watch for: the school's estimated cost of attendance, the total amount of aid awarded and the difference that needs to be paid out of pocket.
Here are some points to keep in mind beyond the numbers:
COST OF ATTENDANCE
There shouldn't be any surprises when looking over the price tag for tuition, fees, and room and board. But the cost of attendance cited in a college's financial aid award letter will also include estimates for books, supplies, and living and transportation expenses.
Those estimates can vary significantly depending on the student. So what you end up paying could be far higher or lower than the school's projection. "Some students may need $200 a month for living expenses, others might need a lot more," said Smith. "Parents should have a better idea of the student's spending habits than the school." Students who live out of state should also consider how much more they might need to spend in transportation costs. Even the cost of books and supplies can vary significantly depending on the student's major.
GRANTS & SCHOLARSHIPS
A key figure to look for is the amount of gift aid being awarded; this is money that doesn't need to be earned or repaid. For grants and scholarships that are based on merit, make sure you're aware of the academic standard that needs to be maintained. Many freshmen struggle to adjust to the course work in college. That means holding onto grants and scholarships isn't always a given, even for students who previously had stellar academic records.
Additionally, be sure that the grant or scholarship is renewable for all four years. State or federal grants, meanwhile, are based on financial need and students need to reapply on a yearly basis. So a grant may no longer be available if the student's financial situation changes.
LOANS & WORK STUDY
When comparing aid awards, families often focus on the total aid being offered and lose sight of the financial toll loans can take after graduation. Schools no longer include private loans as part of their awards, but federal loans still make up 43 percent of aid packages, according to The College Board. There are several types of federal loans, but the main feature to check for is whether it's subsidized. This means the government picks up the cost of interest while the student is in school, which will make a huge difference in the amount the student owes at graduation.
To view local scholarships that are available through the OPHS College & Career Center login to Naviance by clicking on the icon. Once you login click on the "Scholarship List" link. If you do not yet have a Naviance password you can contact Mrs. Hawkins in the College & Career Center, or you can simply login as a "Guest." Mrs. Hawkin'ss contact information is: 818-735-3315 or via email at: jhawkins@oakparkusd.org 
