STUDENT FINANCIAL AID CHANGES
IMPORTANT FINANCIAL AID CHANGES
- Ability to Benefit (ATB).Students without a high school diploma or its equivalent are ineligible for Title IV funds.
- Minimum Pell Grant. Students will need to qualify for the minimum of 10% of the maximum amount of Pell Grant to receive any 2012-2013 Pell Grant funds. Those who qualify for less than 10% will not receive Pell Grant funds.
- Lifetime Pell Grant Limit.12 semesters of full time equivalent semesters from the date that the student began receiving Pell Grant.
- Federal Work Study (FWS) and Federal Supplemental Educational Opportunity Grant (FSEOG). FWS FY2012 reduced by $1.8 million and FSEOG reduced by $1.4 million.
- Federal Stafford/Direct Loan Program. Beginning July 1, 2012 through June 30, 2014, subsidized loans originated during this period will not have a subsidized grace period. The grace period will begin to accrue interest from the date that the student has left a college/university.
- Automatic-Zero EFC. Adjusted gross income will be set at $23,000 versus the current $30,000. Fewer students will meet the automatic-zero Expected Family Contribution threshold. These students will be eligible for fewer Title IV dollars; especially the need-based student financial assistance which is the primary student financial aid for the Coast District.
- Board of Governors Fee Waiver (BOGFW). The Board of Governors Fee Waiver will be available for those AB540 students who qualify under the specific guidelines for the waiver. AB540 students will have access to the BOGFW beginning January 1, 2013, to waive enrollment fees for the Spring 2013 Semester. The California Community College Chancellor’s Office is working on application and implementation guidelines.
- Cal Grant. AB540 students will be eligible to apply for the various Cal Grant programs beginning January 1, 2013. The California Student Aid Commission is working on a California application for those students who are undocumented for release and testing on or about April 2, 2012.
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