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Financial Aid Office
The Financial Aid Office at Santa Monica College is located in the PE Complex room 148 behind the bookstore. The office hours are Monday through Thursday, 8:00 AM to 5:00 PM. Evening hours are available during Fall and Spring Semesters on Tuesdays and Wednesdays, 5:00 PM to 7:00 PM.
Contact Information
Santa Monica College
Financial Aid Office
1900 Pico Blvd.
Santa Monica, CA 90405
Phone: (310)434-4343
What is Financial Aid
General Eligibility Requirements
Determining Financial Need
Federal Grants
Federal Work Study
Federal Loans
State Grants
Scholarships
Emergency Book Loan
How to Apply for Financial Aid
What is Financial Aid
Financial aid is Federal and State assistance to help you pay the cost of your college
education. Financial aid dollars are made available to students through three basic types
of programs:
General Eligibility Requirements
The Santa Monica College Financial Aid Office has various aid program available to assist you in meeting the educational costs of attending college. These programs are available only if you meet the following eligibility requirements:
You must be a United States citizen or a permanent resident of the
Trust Territory of the Pacific Islands (Palau) or a citizen of the Marshall Islands of
Federated States of Micronesia,
- OR -
Financial need is determined by evaluating a family's ability to pay his/her educational costs. The process of determining a student's eligibility for financial aid, commonly referred to as a need analysis, has been standardized by the U.S. Congress and is completed after the Free Application for Financial Student Aid (FAFSA) has been filed.
If the need analysis shows that the cost of education exceeds the amount that a student and his or her family can contribute, the student will qualify for financial aid based on need.
Calculation of Eligibility for Financial Aid:
Cost of Education minus (-) Expected Family Contribution equals (=) Financial Need
Expected Family Contribution (EFC) is the amount that you and your family are expected to contribute toward your education. The need analysis formula utilizes the parents' total income and assets (excluding home equity), savings, taxes, and other mandatory living expenses to determine the parents' contribution. In addition, parents' age, number of children and other dependents in the household, family members in college, and certain unusual financial circumstances are considered. The student contribution is derived by analyzing the student's income and assets.
If you find that you or your parents are unable to meet the expected contribution based on a change in financial circumstances, contact the Financial Aid Office for information regarding the change of income process.
Federal Pell Grants are Federal Aid dollars which are awarded to eligible undergraduate students ranging in amounts from $200 - $2,340 per year. The amount of money awarded is based on your eligibility index number(EFC), the number of units carried and the cost of attendance. About four weeks after you file a FAFSA, your Student Aid Report (SAR) will arrive at your home. This report MUST be submitted directly to the Financial Aid Office to receive your Pell Grant Award.
Federal Supplemental Educational Opportunity Grant (SEOG) is federally funded and provides annual grants to students with exceptional financial need. Because of very limited funds, the SEOG awards at Santa Monica College generally range from $200 to $400 per year.
A federally funded program to provide employment for you if you must earn part of your educational costs. This program is based on financial need and is part of your Financial Aid Award. You may work up to 19.5 hours per week in a variety of jobs on or off campus. The Job Placement Office will help you locate a job suited for you and your class schedule. The purpose of this program is to stimulate and promote part-time employment of college students who must work to help meet their cost of education.
Loans are Financial Aid funds that REQUIRE REPAYMENT. Eligibility and terms for repayment vary and are outlined below:
Federal Subsidized Stafford Loan: This is a need based program in which you may borrow up to $2,625 each year for first year student, and $3,500 for second year student. Undergraduates may borrow up to a maximum of $23,000. The loan interest rate is variable and adjusted annually. The government pays (subsidizes) the interest on your loan while you remain an eligible student enrolled at least half-time, during your grace period and during periods of authorized deferments. Loan repayment begins six months after you leave school or less than half-time enrollment.
Although these loans are made through lending Institutions such as banks and savings and loans, you MUST apply for financial aid, bring your Student Aid Report to the Financial Aid Office, and attend a Loan Debt Management Meeting before the Financial Aid Office will approved your Stafford loan. If your are in default on a previous loan or owe a refund on a state or federal educational grant, you are NOT ELIGIBLE to apply for a Stafford loan.
Federal Unsubsidized Stafford Loan: The Federal Unsubsidized Stafford Loan is for students who do not qualify, in whole or in part, for the subsidized Federal Stafford Loan. If your loan is unsubsidized, this fact will be disclosed to you by the Financial Aid Office. The terms of your unsubsidized loan are the same as the terms for the subsidized Federal Stafford Loans except: The government does not pay interest on your behalf. You are responsible for all interest that accrues on your loan during the time you enroll in school, during your grace period, and during periods of repayment and authorized deferment. There are two ways for you to pay interest during these periods:
You may make monthly or quarterly payments to your lender,
- OR -
Repayment of principal begins 6 months after you leave school or drop below half-time status.<
Federal Parent Loan: is designed to help parents meet the cost of education for thier child. Parents may be eligible to borrow up to the cost of a student's education for the academic year, less any estimated financial aid. This loan is available only to parents who do not have adverse credit histories as defined by federal regulations. The interest rate is variable, not to exceed 9%.
Board of Governors Enrollment Fee Waiver Grant (BOGEFW) is a state funded program that was established to help California residents with the mandatory enrollment fee of $12 per unit. You must be a California resident to be eligible and also qualify under one of the following conditions:
You or your parents must currently be receiving Aid to Families with
Dependent Children (AFDC), Supplemental Security Income (SSI), General Relief, or
dependent of California Department of Veterans Affairs or the National Guard Adjutant
General. Documentation proving that you are receiving aid from one of these programs is
required.
- OR -
If you believe you qualify for this enrollment assistance program, you should come into the Financial Aid Office at least one week prior to your registration date.
Cal Grants
A state program which offers three grants. Applications for the Cal Grants are available in January and must be filed no later than the end of February of the year preceding the academic year of utilization. (Example: Apply in January or February for the next Fall semester.)
Cal Grant A awards are for students who plan to attend a four-year college or university and is based on academic achievement as well as financial need. You can apply for a Cal Grant A while you are attending Santa Monica College, and if you are awarded one, you may place it on reserve until you transfer to a four-year institution. This grant is renewable for up to three years, provided you remain eligible for it. Cal Grant A pays all or a portion of tuition and fees at your designated four-year institution. Cal Grant A provides no funds for books, living costs, transportation expenses and approximately $5400 for tuition and fees at higher cost four-year institutions.
Cal Grant B awards assist very low income, first year students with living expenses, books, supplies, transportation and other non-tuition costs. All new awards are limited to students who have completed no more than one full-time semester/two full-time quarters, 16 semester units of part-time study or the equivalent, or four and one-half months of vocational school. The average award at Santa Monica College (based on full-time enrollment) is approximately $1410 per year and may provide up to approximately $4000 per year at a four year college or university. Cal Grant B winners may renew their grant, as long as they continue to meet eligibility requirements for a total of four years.
Cal Grant C awards are for vocational students only and assist low to middle income students with tuition and training costs. You must be in a vocational program of study that is four months to two years in duration. The average award at Santa Monica College is approximately $500 per year. This grant is renewable for up to three years as long as students continue to meet the eligibility requirements.
The Emergency book loan program is funded by the Associate Student Body at Santa Monica College. This program is designed to assist students with immediate help during the first week of school by providing a $50 book loan. Applicants must be enrolled in 6 units, have no outstanding loan balance, and have a current Associate Student Body number.
Qualified applicants are given a voucher redeemable in the Student Bookstore. The loan must be repaid within 30 days. Students are also requested to complete the FAFSA.
In four or six weeks you will receive by mail a Student Aid Report (SAR) that tells you whether you are eligible for a Federal Pell Grant. If you are eligible for the Pell Grant, proceed to step 4. If you are not eligible for the Pell Grant, go to step 5.
About eight weeks after your file is processed, you will receive a Notification of Financial Aid letter in the mail. It provides you with information and instructions on each type of financial aid you have been awarded. A check will be sent to you shortly thereafter.
If you receive a Request for Documentation, don't delay! Take the requested material to the Financial Aid Office.
Additional information and applications are available at the Financial Aid office.
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