Financial Aid

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So, you want to go to college? Financial Aid is an excellent step to getting there! You have a couple of different choices, two of which are listed below: FAFSA and 529 Plans.

 

All About FAFSA

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The steps to get there are simple to follow!

1. Sign up for financial aid at www.fafsa.ed.gov.

2. Apply for scholarships and grants.

3. Keep an eye out!

 

What is FAFSA?
The Free Application for Federal Student Aid (FAFSA) is the student’s primary source of financial aid.  FAFSA application is used by colleges to establish a student's eligibility for other types of financial funding and assistance.
All students entering college regardless of financial circumstance should complete a FAFSA application to obtain and receive college-sponsored financial aid, i.e., grants, work programs, and loans.


FAFSA eligibility is as follows:

  • be a U.S. citizen or eligible non-citizen;
  • have a valid Social Security number;
  • be registered with Selective Service if you are male 18 to 25 years of age (go to www.sss.gov for more information);
  • have a high school diploma or a General Education Development (GED) Certificate or pass an exam approved by the U.S. Department of Education;
  • be enrolled or accepted for enrollment as a regular student working toward a degree or certificate in an eligible program at a school that participates in the federal student aid programs;
  • have no drug convictions for an offense that occurred while you were receiving federal student aid (such as grants, loans or work-study);
  • not owe a refund on a federal grant or be in default on a federal student loan; and demonstrate financial need.

FAFSA Deadlines – 2011-2012
Federal Deadline
Online applications must be submitted by midnight Central Daylight Time, June 30, 2012.

Any corrections or updates must be submitted by midnight Central Daylight Time, September 15, 2012.

California State Deadline
California - For initial awards - March 2, 2011. Applicants encouraged to keep a record of their submission by printing out their online FAFSA confirmation page or obtaining proof of mailing the FAFSA. Additional form may be required. Contact your financial aid administrator or your state agency.
For additional community college awards - September 2, 2011 - date postmarked. Applicants encouraged to keep a record of their submission by printing out their online FAFSA confirmation page or obtaining proof of mailing the FAFSA. Additional form may be required. Contact your financial aid administrator or your state agency.


College Deadlines
Each college may have a different deadline. Ask the college of your choice if their deadline is the date they receive your FAFSA, or the date your FAFSA is processed.


Modesto Junior College, Modesto           www.mjc.edu

San Joaquin Delta College, Stockton        www.deltacollege.edu

 

529 Plans: State-sponsored College Savings

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Another form of financial aid comes in the shape of a 529 Plan, which are sponsored by states, state agencies, and educational institutions. These plans encourage saving for college. Every state has at least one type of 529 plan, whether it be pre-paid tution plans or college savings plans.

From the U.S. Securities and Exchange Commission website, you'll find a thorough introduction on what 529 plans are and how they work here.

As the official knowledge-base for 529 plans, the web page linked above gives all the necessary information about the two types of plans available, what they cover, how they effect taxes and other financial aid, as well as how to get started on setting up a plan for yourself.