1. Financial Aid
Carolyn Guel
Interim Assistant Director
Counseling/Advising Unit
Carolyn.guel@sjsu.edu

2. Financial Aid – What is it?
Financial Aid can help narrow the gap between
one’s resources and one’s costs. The basic
premise is that it is the family’s responsibility for
the cost of education.
Financial Aid is available from the federal
government, state, colleges and private sources.

3. Types of Aid Available
 Federal Pell GrantFederal Pell Grant
 Federal Supplemental Educational Opportunity Grant (SEOG)Federal Supplemental Educational Opportunity Grant (SEOG)
 ACG / SMART Grant
 Cal Grant A or BCal Grant A or B
 State University GrantState University Grant
 EOP GrantEOP Grant
 Federal Work StudyFederal Work Study
 Loans : Stafford Loans, Perkins Loans, Parent Plus Loans,Loans : Stafford Loans, Perkins Loans, Parent Plus Loans,
Alternative LoansAlternative Loans
 Scholarships

4. Federal Pell Grant
Foundation of financial aid
First type of need based aid that is
considered
For EFCs from 0 – 4617
Award range is from $5350 to $488/ay

5. FSEOG (Federal Supplemental
Educational Opportunity Grant)
Next type of need based aid awarded
Lump sum is given to school to award
SJSU criteria is to award $600/ay to 0
EFC students who have filed their FAFSA
by March 2nd
deadline

6. Federal Work Study
Federal Work-Study(FWS) allows students to gain
valuable work experience while they earn money to help
pay for college.
Students normally request Federal Work Study on their
FAFSA application when they apply for aid
One of the advantages of the Federal Work Study
program is that earnings are excluded when you reapply
for financial aid. Thus, FWS earnings do not affect future
financial aid eligibility. However, FWS earnings are
taxable.

7. Scholarships
Can come from many different sourcesCan come from many different sources
(private, church groups, alumni, SJSU)(private, church groups, alumni, SJSU)
Usually based on scholastic achievement,Usually based on scholastic achievement,
but it is up to individual donor on what tobut it is up to individual donor on what to
award scholarship foraward scholarship for
SJSU scholarships –SJSU scholarships –
http://scholarships.sjsu.eduhttp://scholarships.sjsu.edu – Apply by– Apply by
March 2ndMarch 2nd

8. Scholarships, etc
To be eligible to apply, students must
have at least 12 undergraduate units
completed at SJSU with a GPA of 3.0 or
better. A few scholarships have a lower
GPA requirement, and state the
minimum criteria when applying.
Links: fastweb.com – collegeboard.com
www.sjsu.edu/faso/scholarships

9. How to apply?
FAFSA (Free Application for Federal Student
Aid)
Online at www.fafsa.ed.gov
Not www.fafsa.com - First word of FAFSA is
FREE – fafsa.com charges $$

10. FAFSA ON THE WEB

11. What is asked on FAFSA?
Student’s will need to provide a SSN, an email address,
a driver’s license number (if have one), and their Alien
Registration Number (if not a US Citizen).
Also will need to provide prior year’s tax return
information (estimates are okay)
2 sections to complete:
Student section
Parent section

12. Online FAFSA Pages

13. Student Aid Report (SAR)
Once the Dept of Education has received your
FAFSA data, they will return a response to the
student.
If student provides an email address, SAR will
be emailed.
SJSU receives FAFSA data electronically (makeSJSU receives FAFSA data electronically (make
sure SJSU is listed under school codes –sure SJSU is listed under school codes –
001155 – this is your authorization to allow001155 – this is your authorization to allow
SJSU to receive your information.SJSU to receive your information.

14. Expected Family Contribution (EFC)
FAFSA answers determines a student’s EFC.
 This is what the federal government believes
that the student/family could reasonably
contribute toward their education. It is used to
determine the type and amount of aid a student
can qualify for.

15. Cost of Attendance
This estimate is what school determines it
will cost to attend their institution. This
amount includes the actual fees along with
miscellaneous expenses that will vary
from student to student.
For example, SJSU cost of attendance is
$23,502, but registration fees for Fall 2009
are $2527 ($2013 + $514)

16. Financial Need
Cost of Attendance
- Expected Family Contribution
Financial Need
This calculation is used by the Financial
Aid Office to determine eligibility. One’s
financial need will vary from college to
college based on their individual cost of
attendance.

17. Federal Loan Programs
Stafford Subsidized Loan
The federal government pays for the
interest while you are in college and
during the six month grace period after
you graduate, leave school, or enroll in
less than half-time.

18. Federal Stafford Loans, con’t
Stafford Unsubsidized Loan
These loans are similar to the Subsidized
Federal Stafford Loans and are available to all
eligible students, even those not demonstrating
financial need. Unsubsidized Stafford Loans
should be seen as a supplement since the
borrower is responsible for paying all the interest
on the loan. Current interest rate is fixed at
6.8%

19. Federal Parent PLUS Loans
Parents or stepparents can borrow up to the cost of
attendance minus any financial aid awarded. These
loans are not based on family income or assets and do
require a credit check. You should still submit a FAFSA
to apply.
Current interest rate is 8.5%.

20. Alternative/Private Loans
BEWARE!
Multiple advertisements now for
“Educational” loans (Astrive, etc.)
It is not recommended to respond to an
unsolicited ad from lenders about
education loans. It is better to check with
your school first. An unsubsidized loan
will have a better rate than these loans.
Higher fees – interest rates up to 24%

21. Best Advice
Pay attention to deadlines – many schools award certain
aid based on if deadline was met
Maintain Satisfactory Academic Progress – completion
of units in a timely manner
Remember why you are here – to graduate!!

22. Contact us:
Financial Aid & Scholarship Office
Student Service Center
www.sjsu.edu/faso
fao@sjsu.edu
408-283-7500