New Financial Aid Regulations and Policies

Pell Grant Lifetime Eligibility Used (LEU)

A new federal regulation passed that limits Pell grant to the equivalent of 12 full time semesters
or 600% LEU for your entire academic career. This regulation is retroactive to the first time you attended
college and received a Pell grant. It does not include terms you did not receive a Pell grant. Read more >>
In mid-July 2012, you can log on to www.nslds.ed.gov and view your LEU.

High School Diploma, GED requirements

A new federal regulation passed that states only students with a high school diploma or GED are eligible for federal financial aid. Effective July 1, 2012, students can no longer qualify for federal financial aid by passing an Ability to Benefit test or completing 6 Degree Applicable Units. This only applies to students who enroll in a degree program after July 1, 2012 for the first time.

Undeclared Major not eligible

A new federal regulation was passed that grants Federal Financial Aid eligibility only to students with a declared academic major. Undecided majors are not eligible.

Financial Aid Repeat Policy

A new federal regulation limits the number of times a student may get paid financial aid for courses being repeated. Previously passed courses with a “D” or better can only be repeated once for financial aid payment.

California Dream Act

For information on this new law, visit www.csac.ca.gov/dream_act.asp

Check your status online

Visit our updated Check My Status page for instructions on how to check your financial aid status.

Self-Service Scanner

There is now a scanner available in the lobby of the Aptos office for students to scan requested financial aid documents. No more waiting in line to turn in a document!

New Verification Requirements

Due to new federal regulations students selected for verification (and their parents in the case of Dependent students) will now have to:

• Submit tax transcripts from the IRS or use the IRS Data retrieval link provided in their FAFSA. We will no longer be able to accept copies of tax returns.
• Verify wages even if they were not required to file taxes. We can accept W2s, tax transcripts stating student/spouse/ parent did not file and/or self-certification on the Verification Worksheet.

 

New loan policies and regulations

• ALL students requesting a loan must submit an Educational Plan.
• Only one loan application per school year.
• Progress reports will be required for students with a SAP status of Warning or Probation before their loan funds can be disbursed.
• We will no longer offer PLUS loans beginning Fall 2012.
• Bachelor and Graduate students are no longer eligible to receive Direct Subsidized Loans.