Financial need is the determining factor and is the crucial criterion for most types of aid. (There are some loan programs for students and parents of students for which need is not a criterion. See the following section on Program Highlights for the various options available. Some scholarships do not include need as a criterion.)
So what is need? Need is the difference between what it costs to go to college and what the student and family can afford to contribute towards those costs.
The basic financial aid formula:
What It Costs to AttendWhat the Student and Family Can Pay
= Financial NeedStudents are generally eligible to receive assistance through financial aid in the amount up to their financial need.
Grants and Scholarships. Grants and scholarships are awards of money that do not have to be paid back. Grants are usually awarded to students with need. Scholarships have varying criteria which may or may not include financial need. Often scholarships are rewards for academic achievement.
Work-Study. The Work-Study program enables students to earn money from part-time jobs on campus and off campus at approved non-profit organizations.
Loans. Loans are funds that have to be paid back, usually after a student has graduated or left school. Students are asked to complete entrance and exit interview requirements if they choose to borrow money through the student loan programs.
The Office of Student Financial Aid may award a student a combination of grants, loans, and work in order to meet the student's need. At SFSU our financial aid funds are provided by the federal government and the State of California. The university scholarships are generally gifts from individuals and organizations.
The first step in applying for financial aid is to mail a completed Free Application for Federal Student Aid (FAFSA) to the Federal Student Aid Programs beginning January and by the postmark date of March 2nd prior to the upcoming academic year. The FAFSA is available in high schools and college financial aid offices beginning in December. In order for SFSU to receive an electronic copy of the FAFSA, the student must write "San Francisco State University" and the code number "001154" on the college release section of the FAFSA.
About four weeks after the student mails the FAFSA, the student will receive a document called the Student Aid Report, and SFSU will receive the electronic copy of the FAFSA. SFSU will notify the student to submit verification documents if necessary. Verification documents may include the IRS tax forms and documentation of household size.
The FAFSA is the basic application for all types of aid. Some grants, fellowships, and scholarships require an additional application and have different deadlines. See the Program Highlights section below for details.
At Home On- or
Resident Fees (non-resident
students pay $246 per academic
unit plus resident fees) $1,982 $1,982
Meals and Housing 2,196 6,768
Books and Supplies 612 612
Personal Expenses 2,210 2,210
Transportation 810 810
Total Expenses $7,810 $12,382
The Federal Supplemental Educational Opportunity Grant (SEOG) is a federal program which provides aid to undergraduate students with exceptional financial need. Annual awards at SFSU range from $100 to $750.
The State University Grant is a grant for students who are California residents, who pay state resident fees, and who have exceptional financial need. This grant is awarded to undergraduates and graduates in amounts based on their need and on the amount of resident fees they are required to pay. Annual awards for 1996-97 range from $180 to $1,584.
The Educational Opportunity Program Grant (EOP) is a grant provided by the State of California for undergraduate students admitted to the university through the Educational Opportunity Program. EOP students must have financial need and must be enrolled full time to receive the grant. Awards range from $100 to $1,000 for the academic year, depending on the availability of funds and the need of the students.
The California Student Aid Commission awards grants to students who are California residents. For new applicants, the deadline to apply for the different programs is March 2nd prior to the upcoming academic year (for example, for the 1996-97 academic year, the deadline is March 2, 1996). In addition to the FAFSA, a Grade Point Average (GPA) Verification form must be submitted to the commission by the March 2nd deadline. More information about the grants discussed below can be provided by high school counselors, financial aid offices, and the California Student Aid Commission at P.O. Box 510845, Sacramento, CA 94245-0845, (916) 445-0880.
Scholars become part of a small, close-knit group at San Francisco State. Special seminars, mentoring, and chances to take some classes as a group make the Scholars program an academic enrichment opportunity that helps develop the student's intellectual talents to the fullest. This program offers the personal attention that is expected only in a small college together with the range of acadmic programs, academic facilities, and faculty expertise that only a major university can offer.
The Graduate Equity Fellowship provides assistance and recognition to selected underrepresented graduate students entering the first year of their master's degree program. Grants may range up to $1,500 per academic year. A fellowship applicant must be a member of an underrepresented group. General information is available from the Graduate Division, ADM 254.
Alan Pattee Scholarship. Children of deceased public law enforcement or fire suppression employees, who were California residents and who were killed in the course of law enforcement or fire suppression duties, are not charged fees or tuition of any kind at any California State University campus, according to the Alan Pattee Scholarship Act, Education Code Section 68121. Students qualifying for these benefits are known as Alan Pattee scholars. For further information, contact the Financial Aid Office, which determines eligibility.
University Administered Scholarships are awarded to students based on academic achievement and financial need. A separate application is required for scholarships directly administered through the Office of Student Financial Aid. Some academic departments on campus also have university scholarships. Students should check with the college or department office about other scholarship opportunities.
Outside Scholarships. The Office of Student Financial Aid has limited resource materials on outside scholarships. Students are encouraged to contact organizations such as Marin Educational Foundation, parent-teacher groups, community service organizations, employers, etc. for scholarship information. Reference desks in university and public libraries also provide scholarship resource materials.
The Federal Work-Study Program provides employment opportunities to both graduate and undergraduate students with financial need. Work-Study positions are available both on-campus and off-campus with certified non-profit agencies. Students may work a maximum of twenty hours per week. The salary scale ranges from $5.96 to $10.76 per hour. A Work-Study award is not a cash award like a loan or a grant. To use a Work-Study award, a student must find a Work-Study job with a certified Work-Study employer; then the student will receive a monthly paycheck. It is recommended that students seek employment as early as possible because jobs are limited and a Work-Study award is not a guarantee of employment.
The Federal Perkins Loan is a federal program providing long-term, low interest loans to both undergraduate and teaching credential students who are enrolled full time. Awards at SFSU depend upon the availability of funds and generally range from $300 to $1,200 per academic year. Interest of 5% begins nine months from the date the borrower is no longer enrolled at least half time. Repayment, at a minimum rate of $90 quarterly, begins three months after interest starts to accrue. Information regarding deferments, cancellations, and repayment provisions is provided on the loan promissory note. An entrance interview is required for all first-time borrowers at SFSU.
The William D. Ford Federal Direct Student Loan Program (FDSL) has two components--the subsidized loan and the unsubsidized loan. The Subsidized Loan is available to students who have financial aid eligibility. The interest is paid by the federal government while the student is in school. The Unsubsidized Loan is available to students who have limited or no financial aid eligibility or who need to borrow an additional amount of loan. The interest on an unsubsidized loan must be paid by the student while enrolled in school, and during any grace or in-school deferment periods. A student may choose to have the interest deferred, which adds the deferred interest to the principle. This is called capitalization. Having the interest capitalized will mean larger monthly payments when the student begins repayment.
The FDSL maximums vary depending on the student's class level and dependency status.
Academic Year Sub. & Unsub.
Junior, Senior 5,500
Academic Year Sub. & Unsub.
Freshmen $ 6,625
Junior, Senior 10,500
Classified Graduate 18,500
For all Federal Direct Student Loans, the interest rate is variable and is dependent upon the 91-day Treasury bill, plus 3.1 percent with a cap of 8.25 percent. An origination and an insurance fee totalling four percent will be deducted from the loan amount before the disbursement. For example, a $5,500 loan will produce $5,280 in revenue to the student.
Loan repayment begins at the end of a six-month period after the student leaves school or ceases to be enrolled on at least a half-time basis. If the student is enrolled less than half time, s/he is considered to be in grace period. The federal government will allow a student up to ten (10) years to repay the loan, with various loan repayment options available. An entrance interview is required for all first-time borrowers.
Parent Loans (PLUS) provides loans through banks and other participating lending institutions for parents of dependent students. Financial need is not a factor in determining a student's or parent's eligibility for this loan program. The interest rate is variable, from 9% to 12%. Interest begins to accrue when the loan is disbursed. Repayment begins 60 days after the loan is disbursed. The loan limit for Parent Loans is equal to the student's budget less financial aid awarded.
Short-Term Loans are available for a maximum of $300 on a 30-day repayment basis. The purpose of the short-term loan is to help students with unanticipated expenses which are school-related. Students may pick up an application in the Student Financial Services Office, ADM 351.
Office hours: Monday, Tuesday, Thursday, Friday--8:30 a.m. until 4:30 p.m.; Wednesday--9:00 a.m. until 6:00 p.m.
In addition, our Financial Aid Voice Response System (FAVoRS 415-337-0200) allows a student to check on his/her financial aid application status using a touch tone telephone 24 hours a day, seven days a week.
The FAFSA form is the primary application for all types of financial aid including grants, work-study, and loans. However, some types of aid require additional applications; see the chart below for information.
1600 Holloway Avenue, San Francisco, CA 94132 (415) 338-1111
Last modified July 02, 2012 by firstname.lastname@example.org