Purpose
This policy establishes guidelines for the allocation of financial aid funds to eligible students.
Background
A packaging policy is needed in order to allocate limited financial aid resources.
Accountability
The Financial Aid Office
Applicability
All registered students at 海角社区CI
Definition(s)
Institutional Student Information Report (ISIR) 鈥� An electronic record received by 海角社区CI from the Federal Government when the student files a FAFSA form (Free Application for Federal Student Aid).
Policy
Eligibility
Financial aid eligibility is measured using federal, state, 海角社区 and institutional standards. All students must meet program eligibility criteria as established by the funding entity. All students are required to have a valid Institutional Student Information Report (ISIR) on file before aid is awarded. All students must be enrolled or accepted for enrollment in an eligible university program. The enrollment and program record must be recorded in the Student Administration System. These packaging standards given are for full time enrolled students. The Financial Aid Office is authorized to reduce funding for part time enrollment.
Pell Grant
Pell Grant is the foundation of the aid package. As Pell eligibility is assessed by a national standard, no institutional adjustment of the amount of a Pell award can be made, except as required by regulation due to changes in enrollment status.
State University Grant
State University Grant funds are awarded in accordance with 海角社区 policy which was issued on March 8, 2001, to 海角社区 Presidents from Executive Vice Chancellor David Spence. This 海角社区 policy establishes system wide standards as well as sets the maximum award amounts based on the enrollment category.
海角社区CI policy on State University Grant eligibility can be found in the 海角社区CI policy manual.
A State University Grant is awarded up to the full amount of fees minus any fee based Cal Grant awards or waivers. Additional amounts may be awarded up to the maximums established by the Chancellor on a case-by-case basis. Awards may vary based on state funding. The Financial Aid Office is authorized to adjust award amounts to maximize program effectiveness.
A State University grant is awarded only to students accepted in degree or credential programs. Post baccalaureate unclassified students are not eligible for financial aid.
Priority is given to on-time undergraduate applicants with an expected family contribution of $800 or less and no award is made to students whose expected family contribution exceeds $4000.
EOP Grant
EOP grant funds are awarded only to undergraduate students accepted for admission through the 海角社区 EOP program. Eligibility must be confirmed by the EOP Office.
An EOP grant is awarded up to a maximum of $1000 per academic year.
Priority is given to on-time undergraduate applicants with an expected family contribution of $800 or less.
Stafford Loans
Subsidized Stafford loans are awarded to meet a remaining need. Federal rules regarding class level and cumulative maximum amounts are followed by the Financial Aid Office.
Unsubsidized Stafford loans are awarded to upper division and post baccalaureate students. Lower division students may receive unsubsidized loans after a review of their circumstances.
Work Study
State Work Study funds are awarded to undergraduates who prefer that their eligibility for Stafford Loans be reduced. This program has limited funding and is subject to the State budget process.
Coordination
As required by regulation, all aid components and other available resources are reviewed to insure that aid is awarded appropriately and that no duplication of aid resources occurs. Consultation with awarding authorities will take place to determine award priorities.