Financial Aid 101
A form known by an acronym that everybody can fill out without charge.
What is FAFSA?
This letter is sent to students from college financial aid offices listing the aid being offered to them.
What is Award Letter?
This happens when no disbursement preference is made on BankMobile.
What is mailed paper check?
The name of the law that prohibits us from discussing student’s record with anyone to protect student’s privacy.
What is FERPA?
This grant waives enrollment fees for eligible California residents or AB 540 students at community colleges
What is the California College Promise Grant?
This type of financial aid is often referred to as "free money" as it does not require repayment.
What is a Grant?
This term applies to loans. It is the failure to repay a student loan according to its terms.
What is a Default?
Aid that is awarded but has no cash value.
What is CCPG?
Process when FA checklist requests to complete required documents.
What is verification?
Tax year being used to complete the 2025-2026 Financial aid application.
What is 2023 tax year?
This need-based program allows eligible students to earn money for college by working part-time on-campus or in the community.
What is Federal Work-Study?
Financial aid that is donated to students and does not need to be paid back.
What is a scholarship?
This amount is not covered by CCPG.
What are Student fees?
This online method is used to submit required documents when selected for verification.
What is Pro Verifier?
Items that must match to have a successful FAFSA download.
What is Last name, DOB and SSN match?
Federal and State requirement of 2.0 GPA and completion rate of 67% for financial aid eligibility.
What is SAP?
A fee charged when you take out a loan. This rate may be constant (fixed) or changing (variable).
What is Interest?
The age limit for a student to be considered an independent student?
What is 24 years old?
This comes after a student is qualified and awarded financial aid.
What is disbursement?
Students must submit the FAFSA or CA Dream Act Application and meet GPA, financial, and eligibility requirements to qualify for this grant.
How do students apply for a Cal Grant?
This form is sent to students after submitting the FAFSA. Eligibility for grants will be indicated in this report.
What is Student Aid Index?
Who provides a process of setting up your preference to receive disbursements.
What is Bank Mobile?
This is what the acronym FAFSA stands for.
What is Free Application for Federal Student Aid?
Type of classes that are qualified for Pell payment.
What is Title IV eligible classes.
This percentage tracks how much of a student's total Pell Grant eligibility they have already used.
What is LEU? (Lifetime Eligibility Use 600%)