Transcript No Slide Title

Financial Aid Update
State University Grant (SUG) and
Other Key Changes
September, 2013
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State University Grant (SUG)
•CSU Grant provided to eligible students to pay Tuition
•Basic Eligibility Criteria
•Student paying Tuition Charges (State-supported programs)
•CA Residency or AB540 Status
•File FAFSA/DREAM Application by Priority Deadline (March 2)
•Expected Family Contribution of $6,500 or less
•Cannot Receive Other Fee Paying Award or Waiver
•Cal Grant
•Fee paying scholarship
•Tuition Fee Waiver (Veteran’s Dependent Waiver)
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State University Grant (SUG)
CSULB Fee Paying Award – Profile Fall 2012
Undergraduate Students
Aid Program
% Receiving
# Recipients
Dollars
SUG
26.7 %
8,262
$21,320,303
Cal Grant
20.4 %
6,309
$16,513,120
TOTAL
47.1 %
14,571
$37,833,423
% Receiving
# Recipients
Dollars
31.6 %
1,690
$4,783,015
Post-Baccalaureate Students
Aid Program
SUG
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Effective Fall 2013 – Additional Criteria
•Minimum Enrollment Requirement (at least ½ time)
•Earned Unit Maximum
•Funding Limited to Initial Degree or Credential
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Earned Unit Maximum: Undergraduate
Students
•Freshman Admits: 150 Total “Earned” Units
•Transfer Students (< 75 units): 150 Total “Earned” Units
•Includes transfer Units and CSULB Credit
•Transfer Students (> 75 units): 75 Earned CSULB Units
•Types of “Completed” Units Excluded
•Pre-baccalaureate and Remedial Coursework
•Test Credit (AP, IB, etc.) & Military Credit
•Evaluated each semester
•Eligibility maybe discontinued mid-year
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Earned Unit Maximum: Credential
Students
•Credential Students: 30 total “earned” units while
enrolled as a Credential student
•Additional units allowed for Single, Multiple and Ed
Specialist programs
•Includes any applicable internal or external transfer credit
•Types of “Completed” Units Excluded
•Units earned in a non-credential Post-baccalaureate program
•Evaluated each semester
•Eligibility maybe discontinued mid-year
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Earned Unit Maximum: Master’s &
Doctorate Students
•125% of published minimum unit requirement for degree
program
•Types of “Completed” Units Excluded
•Units earned prior to term of admission
•Evaluated each semester
•Eligibility maybe discontinued mid-year
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Second Degrees & Certificate Programs
Eligibility Limited to Initial Degree or Credential
•Second Bachelor’s – Ineligible
•Second Credential – Ineligible
•Second Master’s or Doctorate – Ineligible
•Bachelor’s then Credential – Eligible for both
•Credential then Master’s – Eligible for both
•Applies to completion of degree at CSULB or any other
Institution
•Stand-Alone Certificate Students: Not Eligible for SUG
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Limits on SUG & Other Aid Programs
Undergraduate Students
SUG
Pell Grant
Cal Grant
Other Aid – SAP
Policy
150 units completed
6 years of full-time
enrollment, measured
in "attempted" units.
4 years of full-time
enrollment measured
in "attempted" units.
150% of units required
for degree, measured
in "attempted" units.
Post-Baccalaureate Students
SUG
Other Aid – SAP Policy
Credential
30 units completed
150% of units required for degree,
measured in "attempted" units.
Master’s/
Doctorate
125% of units required for degree,
measured in “completed units
150% of units required for degree,
measured in "attempted" units
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Comparison of SUG Maximum with
Undergraduate Timely Graduation Policy
• Timely Graduation Policy – Applies to 1st Baccalaureate
only
Timely Graduation Policy
Program
Maximum
120% of required degree units, measured
in “completed” units
144 “completed” units for most students
Exclusions Pre-Baccalaureate Work
SUG Policy
150 “completed” units.
Same as TG Policy
Test Credit (AP, IB, other)
Military Credit
Transfer
Credit
60 Unit maximum for Community College
credit.
75 unit maximum for all transfer
credit
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Student Graduation Planning - Theme
• Developing path to graduation at level below Unit
Maximum allows for added room to address unforeseen
circumstances
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Other Aid Program Changes
• New Direct Stafford Loan Interest Rates - Effective Fall 2013
• Undergraduate Subsidized: 3.86% (up from 3.4%)
• Graduate Unsubsidized: 5.41% (down from 6.8%)
• Parent Unsubsidized: 6.4% (down from 7.9%)
• Will adjust annually based upon 10-year Treasury Bill rate
• California Middle Class Scholarship – Effective Fall 2014
• Designed for CA Residents with Household Income up to
$150,000
• Will cover up 40% of CSULB Tuition if not covered by other
programs
• Will be phased in over several years.
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