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  • Financial Aid Glossary | Cal State Monterey Bay
    school you re planning to attend if you have any unusual expenses that might affect your COA Credit Bureau An organization that tracks and reports your credit including your history of paying bills and your ability to repay future loans For example if you default on a student loan it is reported to a credit bureau D Data Release Number DRN The four digit number assigned to your FAFSA that allows you to release your FAFSA data to schools you did not list on your original FAFSA You need this number if you contact the Federal Student Aid Information Center to make corrections to your mailing address or the schools you listed on your FAFSA You find this number below the confirmation number on your FAFSA submission confirmation page or in the top right hand corner of your Student Aid Report Default Failure to repay a loan according to the terms agreed to in the promissory note You may experience serious legal consequences if you default Default Rate The percentage of borrowers who fail to repay their loans according to the terms of their promissory notes Deferment A postponement of payment on a loan that is allowed under certain conditions and during which interest does not accrue for subsidized loans Unsubsidized loans that are deferred will continue to accrue interest and any accrued unpaid interest will be added to the principal balance capitalized of the loan s at the end of the deferment period Delinquent Indicates that loan payments are not received by the due dates Accounts remain delinquent until the borrower brings the account current with payment If the borrower is unable to make payments he or she should contact his or her loan servicer to discuss options to keep the loan in good standing Dependency Status The determination of a FAFSA applicant as dependent or independent Dependent Student A student who does not meet any of the criteria for an independent student An independent student is one of the following at least 24 years old married a graduate or professional student a veteran a member of the armed forces an orphan a ward of the court someone with legal dependents other than a spouse an emancipated minor or someone who is homeless or at risk of becoming homeless Direct Consolidation Loan A federal loan made by the U S Department of Education that allows you to combine one or more federal student loans into one new loan As a result of consolidation you will only have to make one monthly payment on your federal loans and the amount of time you have to repay your loan will be extended Direct Loan A federal student loan made through the William D Ford Federal Direct Loan Program for which eligible students and parents borrow directly from the U S Department of Education at participating schools Direct Subsidized Loans Direct Unsubsidized Loans Direct PLUS Loans and Direct Consolidation Loans are types of Direct Loans Direct PLUS Loan A loan made by the U S Department of Education to graduate or professional students and parents of dependent undergraduate students for which the borrower is fully responsible for paying the interest regardless of the loan status Disbursement disburse or disbursed Payment of the loan funds to the borrower by the school Students generally receive their federal student loan in two or more disbursements Discharge The release of a borrower from the obligation to repay his or her loan Disclosure Statement A statement showing a borrower s loan term payment schedule and monthly payment amount for their loans Discretionary Income Your adjusted gross income minus the poverty guidelines for your family size Disposable Pay The amount that remains from an employee s pay after required deductions E Early Action A college admission policy that allows applicants to apply and receive notice of their application early Applicants accepted under early action are not under a binding agreement to attend that school and may submit applications to other schools Early Decision A college admission policy that allows applicants who commit to attend that school to apply and receive notice of their application early If the applicant is accepted he or she agrees to attend that school and must withdraw all other applications Educational Service Agency An educational service agency is a regional public multiservice agency not a private organization that is authorized by state law to develop manage and provide services or programs to local education agencies such as public school districts Electronic Debit A service that allows your bank to automatically deduct your monthly loan payments from your checking or savings account Elementary School or Secondary School For the purposes of the Teacher Loan Forgiveness Program an elementary or secondary school is defined as a public or nonprofit private school that provides elementary education or secondary education as determined by state law or by the U S Department of Education if the school is not in a state Eligible Noncitizen A U S national includes natives of American Samoa or Swains Island U S permanent resident who has an I 151 I 551 or I551 C Permanent Resident Card or an individual who has an Arrival Departure Record I 94 from U S Citizenship and Immigration Services USCIS showing one of the following designations Refugee Asylum Granted Cuban Haitian Entrant Status Pending Conditional Entrant valid only if issued before April 1 1980 Victims of human trafficking T visa T 2 T 3 or T 4 etc holder Parolee You must be paroled into the United States for at least one year and you must be able to provide evidence from the USCIS that you are in the United States for other than a temporary purpose and that you intend to become a U S citizen or permanent resident If you meet the noncitizen criteria above you are eligible to receive federal student aid If you are unsure of your eligibility please check with your school s financial aid office for more information Eligible Program A program of organized instruction or study that leads to an academic professional or vocational degree or certificate or other recognized education credential Emancipated Minor An individual under the age of 18 who has legally been determined to be an adult by a court in his or her state of legal residence Endorser An endorser is someone who does not have an adverse credit history and agrees to repay the loan if the borrower does not repay it Entrance Counseling A mandatory information session which takes place before you receive a federal student loan that explains your responsibilities and rights as a student borrower Exit Counseling A mandatory information session which takes place when you graduate or attend school less than half time that explains your loan repayment responsibilities and when repayment begins Expected Family Contribution EFC This is the number that s used to determine your eligibility for federal student financial aid This number results from the financial information you provide in your FAFSA the application for federal student aid Your EFC is reported to you on your Student Aid Report SAR F FAFSA Free Application for Federal Student Aid FAFSA4caster An online tool that provides an early estimate of your federal student aid eligibility to help you financially plan for college Federal Family Education Loan FFEL Program Under this program private lenders provided loans to students that were guaranteed by the federal government These loans included Subsidized Federal Stafford Loans Unsubsidized Federal Stafford Loans FFEL PLUS Loans and FFEL Consolidation Loans As a result of the Health Care and Education Reconciliation Act of 2010 federal student loans under the FFEL Program are no longer made by private lenders Instead all new federal student loans come directly from the U S Department of Education under the Direct Loan Program Federal Pell Grant A federal grant for undergraduate students with financial need Federal Perkins Loan A federal student loan made by the recipient s school for undergraduate and graduate students who demonstrate financial need Federal School Code An identifier that the U S Department of Education assigns to each college or career school that participates in the federal student aid programs In order to send your FAFSA information to a school you must list the school s Federal School Code on your application A list of Federal School Codes is available at www fafsa gov Federal Student Aid PIN Your electronic personal identification number that serves as your identifier to allow access to personal information in various U S Department of Education systems and acts as your digital signature on some online forms If you do not already have a PIN you can request one online at www pin ed gov Federal Student Aid Programs The programs authorized under Title IV of the Higher Education Act of 1965 that provide grants loans and work study funds from the federal government to eligible students enrolled in college or career school Federal Student Loan Money you borrow from the federal government to help pay for your education You must repay your loan with interest Federal Work Study A federal student aid program that provides part time employment while you are enrolled in school to help pay your education expenses FFEL Program Federal Family Education Loan Program Financial Aid Counselor The total amount of financial aid federal and nonfederal a student is offered by a college or career school The school s financial aid staff combines various forms of aid into a package to help meet a student s education costs Financial Aid Office The office at a college or career school that is responsible for preparing and communicating information on financial aid This office helps students apply for and receive student loans grants scholarships and other types of financial aid Financial Aid Award The total amount of financial aid federal and nonfederal a student is offered by a college or career school The school s financial aid staff combines various forms of aid into a package to help meet a student s education costs Financial Need The difference between the cost of attendance COA at a school and your Expected Family Contribution EFC While COA varies from school to school your EFC does not change Forbearance A period during which your monthly loan payments are temporarily suspended or reduced You may qualify for forbearance if you are willing but unable to make loan payments due to certain types of financial hardships During forbearance principal payments are postponed but interest continues to accrue Accrued unpaid interest will be added to the principal balance capitalized of your loan s at the end of the forbearance period increasing the total amount you owe Foster Care A temporary living arrangement for dependent children when their parent s or another relative cannot take care of them Free Application for Federal Student Aid FAFSA The FREE application used to apply for federal student aid such as federal grants loans and work study Full time Employment as a Teacher For the purposes of the Teacher Loan Forgiveness Program full time employment as a teacher is determined by the state s standard For a borrower teaching in more than one school the determination of full time is based on the combination of all qualifying employment G Garnishment A debt collection tool that permits a person s earnings to be withheld for the payment of a debt General Educational Development GED Certificate A certificate that students receive if they ve passed a specific approved high school equivalency test Students with a GED certificate are eligible to receive federal student aid Grace Period A period of time after borrowers graduate leave school or drop below half time enrollment where they are not required to make payments on their federal student loans Interest will accrue on subsidized loans made between July 1 2012 and July 1 2014 and all unsubsidized loans during grace periods If the interest is not paid it will be added to the principal balance of the loan when the repayment period begins Each loan has only one grace period Graduation Rate Measures the progress of students who began their studies as full time first time degree or certificate seeking students by showing the percentage of these students who complete their degree or certificate within a 150 of normal time for completing the program in which they are enrolled Grant Financial aid often based on financial need that does not need to be repaid unless for example you withdraw from school and owe a refund Guaranteed Student Loans The name for Federal Family Education Loan FFEL Program loans that were made prior to 1992 Guaranty Agency A state agency or a private nonprofit institution or organization that administers Federal Family Education Loan FFEL Program loans H Homeless An individual is considered homeless if he or she lacks fixed regular and adequate housing You may be homeless if you are living in a shelter park motel or car or temporarily living with other people because you have nowhere else to go Also if you are living in any of these situations and fleeing an abusive parent you may be considered homeless when completing your FAFSA even if your parent would provide support and a place to live Homeschool A school in which children are educated at home either by parents legal guardians or tutors rather than traditional public or private school I Income Tax Refund Offsets A debt collection tool that allows the government to seize income tax refunds from individuals who owe the federal government to help repay the outstanding debt Independent Student An independent student is one of the following at least 24 years old married a graduate or professional student a veteran a member of the armed forces an orphan a ward of the court or someone with legal dependents other than a spouse an emancipated minor or someone who is homeless or at risk of becoming homeless Get additional information to determine your dependency status Interest A loan expense charged for the use of borrowed money Interest is paid by a borrower to a lender The expense is calculated as a percentage of the unpaid principal amount loan amount borrowed Interest Rate The percentage at which interest is calculated on your loan s J Job Placement Rate The percentage of graduating students who obtained employment either in the recognized occupation for which they were trained or in a related comparable recognized occupation within a determined timeframe after receiving their degree or certificate Judgment Lien A legal claim to a home or property when the owner fails to pay a debt A student or parent in the case of a parent borrower will not qualify for federal student aid if he or she owns property that is subject to a judgment lien for a debt owed to the United States L Legal Guardianship A court order through which the court appoints an individual other than a minor s parent to take care of the minor A legal guardian is not considered a parent on the student s FAFSA In fact a student in legal guardianship does not need to report parent information on the FAFSA because he or she is considered an independent student Lender The organization that made the loan initially the lender could be the borrower s school a bank credit union or other lending institution or the U S Department of Education Lifetime Eligibility Used LEU The sum of all Federal Pell Grant aid award year eligibility in percentage awarded to you The amount of Federal Pell Grant funds a student may receive over his or her lifetime is limited by a federal law to be the equivalent of six years of Pell Grant funding Litigation The act or process of bringing or contesting a legal action in court Loan Forgiveness The cancellation of all or some portion of your remaining federal student loan balance If your loan is forgiven you are no longer responsible for repaying that remaining portion of the loan Loan Holder The entity that holds the loan promissory note and has the right to collect from the borrower Loan Rehabilitation The process of bringing a loan out of default and removing the default notation from a borrower s credit report To rehabilitate a Direct Loan or a FFEL Program loan the borrower must make at least 9 full payments of an agreed amount within 20 days of their monthly due dates over a 10 month period To rehabilitate a Perkins Loan a borrower must make 12 on time monthly payments of an agreed upon amount Rehabilitation terms and conditions vary for other loan types and can be obtained directly from loan holders Loan Servicer A company that collects payments on a loan responds to customer service inquiries and performs other administrative tasks associated with maintaining a loan on behalf of a lender If you re unsure of who your federal student loan servicer is you can look it up on www nslds ed gov M Master Promissory Note A binding legal document that you must sign when you get a federal student loan The MPN can be used to make one or more loans for one or more academic years up to 10 years It lists the terms and conditions under which you agree to repay the loan and explains your rights and responsibilities as a borrower It s important to read and save your MPN because you ll need to refer to it later when you begin repaying your loan or at other times when you need information about provisions of the loan such as deferments or forbearances Merit based Based on a student s skill or ability Example A merit based scholarship might be awarded based on a student s high grades N National Student Loan Data System NSLDS A centralized database available at www nslds ed gov which stores information on federal grants and loans NSLDS contains information on how much aid you ve received your enrollment status and

    Original URL path: https://csumb.edu/financialaid/financial-aid-glossary (2016-02-11)
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  • Types of Aid | Cal State Monterey Bay
    Applying for aid Am I eligible Application Process Step by Step FAFSA Tips Missing Information Receiving your funds Deadlines Financial Aid Glossary Types of Aid Staying eligible Forms Contact Am I eligible Application Process Step by Step FAFSA Tips Missing Information Receiving your funds Deadlines Financial Aid Glossary CSUMB Home Campus Service Center Financial Aid Types of Aid The types of Financial Aid available at CSUMB are Federal and State Grants You may qualify for one or more of the federal or state grants listed as part of your need based financial aid award To be considered for the Cal Grant program you must file the FAFSA and the Cal Grant GPA Verification Form by the state deadline of March 2nd Federal Loans We do not expect you to borrow student loans to meet your college costs However if you would prefer to borrow rather than work during the academic year we will assist you in obtaining a student loan If you request a loan we will always recommend the best loan program for which you are eligible Not all students are eligible to borrow from all loan programs Click on the link above for the individual loan programs to learn about interest rates fees repayment terms and other factors that you should consider Federal Work Study Student Employment Federal Work Study is a federally funded program that provides employment opportunities to students with the highest financial need Placement is limited There are a wide variety of job opportunities for students both on and off campus Most students are paid directly by their employers Others are paid through the Federal Work Study program which includes a component for Community Service Federal Work Study University Scholarships Another way to help meet your cost of attendance is to obtain outside scholarships Outside

    Original URL path: https://csumb.edu/financialaid/types-aid (2016-02-11)
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  • Staying eligible (SAP Policy) | Cal State Monterey Bay
    transfer coursework will be counted in the maximum timeframe You can repeat a course but the credits will be applied toward the maximum timeframe Required remedial coursework will not be counted toward your maximum timeframe up to 30 credits Undergraduate Enrollment Status Fulltime 12 or more undergraduate credits Three quarter time 9 to 11 undergraduate credits Half time 6 to 8 undergraduate credits Less than half time 1 to 5 undergraduate credits Graduate Enrollment Status Full time 8 or more credits Three quarter time 6 to 7 credits Half time 4 to 5 credits Less than half time 1 to 3 credits Financial Aid Probation Students who have not met the Minimum Standard Requirements will be placed on probation You are still eligible for Financial Aid consideration while on probation Students who do not meet Minimum Standard Requirements at the end of their probationary semester will be placed on suspension for the next term Students who are on probation will be required to attend a Satisfactory Academic Progress Workshop before funds are released for the following semester Financial Aid Suspension If the financial aid office determines that you have not met the Minimum Standard Requirements to receive Financial Aid you will be disqualified from Financial Aid assistance You are not eligible for Financial Aid consideration while on suspension Students who are on suspension will be required to attend a Satisfactory Academic Progress Workshop before funds are released for the following semester Reinstatement If you maintain satisfactory academic progress without financial aid for one academic year completing at least 12 credits total you may be eligible for reinstatement and regain eligibility for financial aid You must notify the financial aid office in writing when you have completed the reinstatement requirements Students who have been disqualified for exceeding the maximum time frame are ineligible for reinstatement and can only regain financial aid eligibility through the appeal process Students who are reinstated will be required to attend a Satisfactory Academic Progress Workshop before funds are released for the following semester Appeal Process You have the right to appeal your suspension from financial aid The appeal form is available on the Financial Aid website You should provide an explanation of any extenuating circumstances that prevented you from maintaining satisfactory academic progress Supporting documentation will strengthen your appeal The appeal will be reviewed by a financial aid counselor You will be notified of the result of your appeal by email or letter If your appeal is denied you may request an additional review by the financial aid appeals committee The appeals committee s decision is final Changes to your Financial Aid Award Financial aid award revisions will be made in the following cases If you receive additional resources such as scholarships Cal Grants or stipends If you reduce unit enrollment prior to add drop If you do not indicate your correct housing status on your Award Letter If you withdraw from all courses If your appeal for revision is granted Withdrawal from Courses Title IV

    Original URL path: https://csumb.edu/financialaid/staying-eligible-sap-policy (2016-02-11)
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  • Financial Aid Forms | Cal State Monterey Bay
    Am I eligible Application Process Step by Step FAFSA Tips Missing Information Receiving your funds Deadlines Financial Aid Glossary Types of Aid Staying eligible Forms Contact Am I eligible Application Process Step by Step FAFSA Tips Missing Information Receiving your funds Deadlines Financial Aid Glossary CSUMB Home Campus Service Center Financial Aid Financial Aid Forms Do NOT submit verification forms that are not listed on your To Do List IMPORTANT Before submitting all documents print student name and CSUMB I D on the top of each requested item All documents received will be scanned and linked to the student s file Please submit copies and keep originals for your records Do not send documents by e mail as e mail is not a secure means of communication Items submitted by fax mail or in person should update your Student Center To Do List within 72 hours If you have any questions after 72 hours please call us Please do not resend additional copies unless specifically asked to do so If we need any additional information your Financial Aid Counselor will contact you via email 2015 2016 Verification forms The 2015 2016 Document Priority Deadline is May 15 2015 We encourage all students to submit all documents by this deadline to guarantee a review before the start of the 2015 2016 academic year Standard Dependent Verification Worksheet V1 Standard Independent Verification Worksheet V1 Child Support Paid Dependent Verification Worksheet V3 Child Support Paid Independent Verification Worksheet V3 Custom Dependent Verification Worksheet V4 Custom Independent Verification Worksheet V4 Aggregate Dependent Verification Worksheet V5 Aggregate Independent Verification Worksheet V5 Household Resources Dependent Verification Worksheet V6 Household Resources Independent Verification Worksheet V6 Standard Dependent Verification Worksheet V1 DREAM Standard Independent Verification Worksheet V1 DREAM Other 2015 2016 Forms HDC Eligibility Verification Form Loan Request

    Original URL path: https://csumb.edu/financialaid/financial-aid-forms (2016-02-11)
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  • Financial Aid Counselors | Cal State Monterey Bay
    Faculty Classes Planning Academic Support Services Research Engage Catalog Search Main menu Log in Search Search Financial Aid Financial Aid Menu Toggle navigation What is Financial Aid Applying for aid Am I eligible Application Process Step by Step FAFSA Tips Missing Information Receiving your funds Deadlines Financial Aid Glossary Types of Aid Staying eligible Forms Contact Am I eligible Application Process Step by Step FAFSA Tips Missing Information Receiving your funds Deadlines Financial Aid Glossary CSUMB Home Campus Service Center Financial Aid Financial Aid Counselors Financial Aid Counselors are available to answer a majority of your questions regarding Financial Aid Please contact your designated Financial Aid Counselor according to the first letter of your last name Last Name A F Contact Diego Ortiz Last Name G M N S and T Z Contact Ashlie McCallon Extended Education Students Only Contact Adriana Zarazua Diego OrtizHernandez Financial Aid Counselor Financial Aid diortiz csumb edu 831 582 3554 Ashlie McCallon Lead Counselor Financial Aid amccallon csumb edu 831 582 4077 Office hours Mon Fri 8am 5pm Office location Student Services Room 3rd floor Adriana Zarazua Financial Aid Extended Education Counselor Financial Aid adzarazua csumb edu 831 582 4078 Office hours Mon Fri 8am

    Original URL path: https://csumb.edu/financialaid/financial-aid-counselors (2016-02-11)
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  • Spring 2016 SAP Information | Cal State Monterey Bay
    Cost Calculator Tuition Fees Financial aid Housing Rates Meal Plans How to make a payment Majors Programs Colleges Departments Faculty Classes Planning Academic Support Services Research Engage Catalog Search Main menu Log in Search Search Financial Aid Financial Aid Menu Toggle navigation What is Financial Aid Applying for aid Am I eligible Application Process Step by Step FAFSA Tips Missing Information Receiving your funds Deadlines Financial Aid Glossary Types of Aid Staying eligible Forms Contact Am I eligible Application Process Step by Step FAFSA Tips Missing Information Receiving your funds Deadlines Financial Aid Glossary CSUMB Home Campus Service Center Financial Aid Spring 2016 SAP Information Financial aid regulations require that students meet specific Satisfactory Academic Progress SAP requirements to maintain eligibility for financial aid If you recently received a Satisfactory Academic Progress SAP email from the Financial Aid Office you are required to complete all requirements by the following deadline Probation February 25 2016 Warning A workshop must be completed by the last scheduled workshop Please click here to view workshop schedule and to sign up to attend Please note Your otter ID is required to sign up to attend a SAP Workshop Is there anything wrong with this page

    Original URL path: https://csumb.edu/financialaid/spring-2016-sap-information (2016-02-11)
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  • 2015-2016 Financial Aid Award Online | Cal State Monterey Bay
    Process Step by Step FAFSA Tips Missing Information Receiving your funds Deadlines Financial Aid Glossary Types of Aid Staying eligible Forms Contact Am I eligible Application Process Step by Step FAFSA Tips Missing Information Receiving your funds Deadlines Financial Aid Glossary CSUMB Home Campus Service Center Financial Aid 2015 2016 Financial Aid Award Online Access your Financial Aid information via CSUMB Student Center online at https csumb edu Step 1

    Original URL path: https://csumb.edu/financialaid/2015-2016-financial-aid-award-online (2016-02-11)
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  • Cal State Monterey Bay
    Log in Search Search Financial Aid Financial Aid Menu Toggle navigation What is Financial Aid Applying for aid Am I eligible Application Process Step by Step FAFSA Tips Missing Information Receiving your funds Deadlines Financial Aid Glossary Types of Aid Staying eligible Forms Contact Am I eligible Application Process Step by Step FAFSA Tips Missing Information Receiving your funds Deadlines Financial Aid Glossary CSUMB Home Spring 2016 SAP Deadline Are

    Original URL path: https://csumb.edu/site-news/19993 (2016-02-11)
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