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SMC|Enrollment Development|Financial Aid and Scholarships|Overview of Aid Programs

Overview of Aid Programs


GRANTS

Grants are cash awards that do not need to be repaid. Grant awards are normally reserved for students with the highest financial need. Grant programs available at Santa Monica College include:

Federal Pell Grant

Students are automatically considered for a Federal Pell Grant when they file the FAFSA. Students who receive an Expected Family Contribution (EFC) of 4700 or less on the Student Aid Report (SAR) are eligible for a Federal Pell award. Less than half-time students must have an EFC of 2600 (or lower) to be eligible. Students may receive a Federal Pell Grant for enrollment in one or more units; however, awards for students enrolled less than full-time
(12 units) are prorated based on their enrollment status. Note: Students with a Bachelors Degree are not eligible
for a Federal Pell Grant.
Awards range from: $575 to $5,550

Supplemental Educational Opportunity Grant (SEOG)

SEOG is a grant award made by Santa Monica College to students with exceptional need. Because funds are limited, students who apply early and are eligible for Federal Pell Grant receive first priority consideration for FSEOG. Students are automatically considered for FSEOG when they complete the FAFSA by the March 2 priority deadline. Awards for less than full-time (12 units) are prorated based on enrollment level. Note: Students with a Bachelors Degree are not eligible for an SEOG Grant.
Awards range from: $50 to $200
Priority application deadline for 2012-13 school year: March 2, 2013
Priority application deadline for 2013-14 school year: March 2, 2014

Cal Grant A, B, AND C:

Cal Grants are for California residents only. They are awarded by the California Student Aid Commission for attendance at California schools. Many criteria influence eligibility, including family income, family assets, family size, student grade point average, parental educational level, and parental marital status. If a student is eligible for Cal Grant A, this grant is put on reserve while the student is attending a California Community College. Most Cal Grant B awards are directed to California Community College students. Cal Grant C is awarded to students enrolled in vocational programs. Students who appear to be eligible to receive Cal Grant C will also receive a supplemental form to complete. In the 2013/2014 academic year, students have two application deadlines: March 2, 2014 and September 2, 2014.
To apply for a Cal Grant, a student must file a FAFSA application and submit verification of their GPA.
Note: SMC submits electronically the GPA for students that have earned 16 or more degree applicable units.
Students must be enrolled at least half-time (6 units) to receive Cal Grants. Awards for less than full-time (12 units) are pro rated based on their enrollment level.
Maximum awards are:
  • Cal Grant B $1,473
  • Cal Grant C $547
2012-13 Application deadlines: March 2, 2014 & September 2, 2014

ENROLLMENT FEE WAIVERS
Board of Governors Fee Waiver (BOGW)
The State of California offers a BOGW for California residents who are eligible for need-based financial aid. The BOGW pays for the enrollment fees for the academic year--once eligibility has been determined. Other fees, for parking, mandatory health fees, student activities for example, must be paid by the student.
Students who do not apply for Federal financial aid may qualify for a BOGW if they meet the State defined income requirements. The income standards listed below are based on income for the 2012 tax year. If the student is considered independent, school would use the student income only from 2012. If the student is considered dependent, schools would use the parent income only from 2012.
Number in Household
Total Family Income (Include Adjusted Gross Income and/or all Untaxed Income)
1 $16,755 or less
2 $22,695 or less
3 $28,635 or less
4 $34,575 or less
Add $5,940 for each additional dependent.
In addition, students can qualify for the BOGW if the student (if considered independent) or the parent of the student (if the student is considered dependent) is a current recipient of TANF (AFDC), General Assistance, SSI/SSP, or have certification from the California Department of Veterans Affairs or the National Guard Adjutant General that they are eligible for a dependents fee waiver.
BOGW applications are available in the Financial Aid Office. If a student does not meet the BOGW criteria listed above, they need to file a FAFSA for a BOGG eligibility determination. It is strongly recommended that a student apply for Federal aid as well as for the BOGW program.


WORK STUDY EMPLOYMENT

Federal Work-Study Program (FWS)

FWS is employment financed with Federal funds. Students who apply for financial aid by March 2 are given priority. Students receive a monthly paycheck for hours worked. The hourly rate is from $8.00/per hour. The total a student may earn depends on the amount of the FWS award for the student which is determined by the Financial Aid Office. Many jobs are designed to assist students in providing service to the community.
Priority application deadline: March 2, 2012(for 2013-13)


CalWorks Work Study (CWS)

CWS is employment for CalWorks recipients. It is financed with state funds. For more information please visit the CalWorks Program website.


LOANS

Loans are financial aid funds that the student repays after she or he completes a program of study or stops going to school. Educational loans have a low interest rate and an extended repayment period, which makes them easier to repay than most non-educational loans. But because loans must be repaid from future earnings, Santa Monica College recommends that students use all other possible resources first and borrow only when it is absolutely necessary. Students who are planning to transfer to four-year colleges, especially, should be aware that loans are almost always the largest portion of a financial aid package at those colleges and should consider total educational indebtedness before borrowing at Santa Monica College.
Federal Family Educational Loans (FFEL), which include Federal Stafford Subsidized, Federal Stafford Unsubsidized, and PLUS loans, have origination and insurance fees of 2-4% deducted from the loan proceeds before the loan is received. These fees must also be repaid.
To ensure students are aware of all the provisions and responsibilities of borrowing from the educational loan programs, all loan applicants must attend an entrance interview loan counseling meeting before receiving an initial loan check disbursement, and an annual loan exit interview. Students may request a loan by completing the Loan Request Form.


Subsidized and Unsubsidized Federal Stafford Loan

Federal Stafford Loans are made through lending institutions such as banks and credit unions. Students who are enrolled in at least six units and who demonstrate financial need through the financial aid application process can have the interest paid (subsidized) on Federal Stafford loans by the Federal government while they are in school. Students who do not demonstrate need for Federal Stafford may still obtain the loan; however, interest will be charged directly to the student (unsubsidized). Interest on unsubsidized loans starts to accrue at the time of check disbursement.
Federal Stafford loan interest changes annually and is based on Federal Treasury Bill rate. Interest will never exceed 8.25%. Monthly repayments, which begin six months after enrollment stops or drops below half-time, are based on the total amount borrowed but will never be less than $50 per month. In addition to the FAFSA, this loan requires a separate loan application (available in the Financial Aid Office).

Annual Maximum:

  • $3,500 until completion of first year of program
  • $4,500 after completion of the first 30 units of the program

Loan Request Accepted:

  • Through November 26--for Fall 2012 term;
  • Through May 24--for Spring 2013 term.
Subsidized Federal Stafford Loan Repayment Schedule
Sample Subsidized Federal Stafford Repayment ($)
Loan
Amount
Monthly
Payment
Total
Interest @
8.25%
Total
Prepaid
2,625 50 643 3194
5,500 67 2,595 6,874
8,000 98 3,775 11,647
12,000 147> 5,661 17,471

Federal Additional Unsubsidized Stafford

Federal Additional Unsubsidized Stafford Loans, like Subsidized Federal Stafford Loans, are made through lending institutions. Only students who are considered to be independent may apply for this type of Federal Stafford. Because they are significantly more costly loans, with interest accruing while the student is in school, Santa Monica College strongly discourages borrowing through this program. Students must exhaust all other resources and demonstrate that enrollment cannot continue without these additional loan funds. Applicants must also apply for Subsidized Federal Stafford Loans before applying for this type of Federal Stafford. Interest rates for this loan is variable, changes annually, but will not exceed 8.25%. Students who are considering the additional unsubsidized Federal Stafford must make an appointment with the loan coordinator for additional loan counseling.
Annual Maximum: $4,000

Federal Parent Loan for Undergraduate Students (PLUS)

Federal PLUS loans are loans borrowed by parents of dependent students and are also made through banks. Repayment and interest accrual begins on the day of disbursement. The interest rate is variable and changes annually, but will not exceed 9% for new borrowers.


Emergency Book Loan Program

The Financial Aid Office offers a short-term emergency book loan program. This loan program offers short term (30 day) loans of $250 (or less.) No interest is charged on this short-term loan. For financial aid recipients, repayment is due upon receipt of financial aid funds from the school.

Where Do I Find Out About Other Types Of Assistance at SMC?

  • EOPS (Extended Opportunity Programs and Services) provides academic support services for low-income, educationally-under prepared students. Contact the EOP&S Office at (310)434-4268 for more information. They are located next to the Financial Aid Office in the Admissions and Records Complex.
  • Disabled Student Office provides accommodations (such as mobility assistance, special parking, loan of special adaptive equipment) to students with disabilities. Call theĀ Disability Resources Office at
    (310) 434-4265 for more information. They are located next to Admissions and Records
  • Veteran's Benefits information and certification is provided through the Veteran's Resource Center.
    Call (310)434-8205 for more information.
  • Scholarship information and applications for local scholarship are coordinated through and available from
    the SMC Scholarship Office at 1738 Pearl Street. Call (310)434-4290 for more information.

Other Sources Of Information

  • FEDERAL STUDENT INFORMATION CENTER for questions about Federal student financial aid:
    • Box 84 Washington, D.C., 20044
      8 a.m. - 8 p.m. Eastern Time
      1-800-4-FEDAID (1-800-433-3243)
  • CALIFORNIA STUDENT AID COMMISSION for questions and information about Cal Grant A, B, and C:
    • P.O. Box 510625
      Sacramento, CA 94245-0625
      (916) 445-0880
      http://www.csac.ca.gov/
  • IMMIGRATION & NATURALIZATION SERVICE (INS):
    • Appraiser's Bldg., Room 300
      630 Sansome Street
      San Francisco, CA 94111
      (800) 375-5283
  • FASTWEB A free online scholarship research service.
  • FAFSA on the Web: A web version of the Free Application for Federal Student Aid.