What is financial aid?

 
All students admitted to a degree or certificate program may apply for financial assistance. The student’s financial aid (institutional, federal, and state aid) will be determined and awarded by the Office of Financial Aid.

Office of Financial Aid – 800-649-0160
School Code: 001216-00

Basic Eligibility

  • Be a US citizen or an eligible non-citizen
  • Submit a Free Application for Federal Student Aid (FAFSA)
  • Demonstrate financial need
  • Be enrolled, or accepted for enrollment, in a degree or certificate program
  • Have a high school diploma or GED (General Educational Development) certificate, pass a test approved by the US Department of Education, or complete a high school education in an approved home-school setting
  • If required, be registered with the Selective Service

A student who has a drug record may not be eligible for federal student aid. To find out status, call 1-800-433-3243.

Types of Assistance

Financial aid is money awarded to help a student attend college who would otherwise not have the opportunity. There are two types of assistance a student may be awarded: gift aid and self-help aid.

Gift aid is money the recipient does not have to pay back, such as University grants and scholarships and federal and state grants.

Self-help aid includes Federal loans, which must be repaid, and the Federal Work-Study program.

Determination of Financial Aid Awards

Eligibility of financial aid is the difference between the Cost of Attendance (COA) and the Expected Family Contribution (EFC):

COA – EFC = Need (Eligibility for Financial Aid)

The COA is the cost for a student to attend La Verne for the academic year. It includes allowances for tuition and fees, room and board, transportation, books, and personal expenses. Total financial aid awarded cannot exceed the total Cost of Attendance. The EFC is calculated using the Federal Methodology from the data a student and his or her family have provided on the FAFSA. The EFC is the dollar amount the government has determined that a student and his/her family is expected to contribute toward educational costs for the academic year.

The Office of Financial Aid will determine eligibility and award the student institutional, federal, and state financial aid. Once a student’s financial aid for the academic year is determined, the Office of Financial Aid will mail the student his/her Financial Aid Award Letter and packet along with other important information and instructions.

Priority Deadlines

Many financial aid sources are limited. Failure to meet priority deadlines may result in the loss of financial aid funds a student may otherwise be eligible to receive.

FAFSA: March 2. If the FAFSA is submitted after March 2, a student may still be eligible for a Pell Grant and Federal student loans.

Grade Point Average Verification: March 2. The California Student Aid Commission (CSAC) will not accept the GPA Verification after the March 2 deadline.

To prevent delay in the processing of the FAFSA or GPA Verification, a student should read and follow the instructions carefully. When in doubt, he or she should call the customer service numbers on the forms for assistance in completing the forms properly.