Skip Navigation

Frequently Asked Questions

Skip Topic Navigation

Financial Aid Topics:
Applying and Eligibility	Independent Students	Working While a Student	Scholarships, Grants, and Loans
Rights and Responsibilities	Financial Aid Appeals	Miscellaneous Questions	Back to FAQ Topics

I received a scholarship. Do I have to report it to the financial aid office? How?
I will be receiving a scholarship from my high school. How will this scholarship be treated in my financial aid award?
What do I do once I take out a student loan?
I was offered a loan, but I’m not sure I should take it; how do I decide?
Can my parents and I both apply for loans?
How do I apply for a grant? For loans?
My child was awarded a Federal Stafford loan as part of a financial aid package. The award letter also indicated that we could take out a PLUS loan. How do we find out more about borrowing?
I am concerned that my child will have to take on a lot of loans in order to go to the college of his/her choice. Do we have options?

Q.	I received a scholarship. Do I have to report it to the financial aid office? How?
A.	Yes, you do need to report it to the financial aid office. Some campuses may have a special form you can fill out to indicate scholarships or other aid you will be receiving, or you can contact the financial aid office in writing that you have received a scholarship. Make sure that you include the name of the scholarship and the amount, your name and student ID number or Social Security number on your correspondence.
[top]

Q.	I will be receiving a scholarship from my high school. How will this scholarship be treated in my financial aid award?
A.	Federal regulations require that all financial aid assistance you receive be taken into consideration when awarding aid. This means that outside scholarships must be used to meet your financial need. Most campuses will use any outside scholarship you are awarded to replace an equal amount of loan or work-study funds you would have otherwise received before they reduce your grant aid.
[top]

Q.	What do I do once I take out a student loan?
A.	Before taking out your first loan, you must attend entrance counseling that explains your rights and responsibilities as a borrower. Once you take out a loan, it is important that you keep the lender and your college informed of any changes in your address or enrollment plans. Before you leave college (including withdrawing, transferring or graduating), you should attend an exit interview which will cover your payment obligations and the number of options available to you as a borrower. If at any time you have questions regarding the repayment of your loans, contact your lender or the financial aid office.
[top]

Q.	I was offered a loan, but I’m not sure I should take it; how do I decide?
A.	Because of the limited gift aid available, students are usually offered one or more educational loans. Although loans are helpful in meeting the cost of education, they must be repaid with interest. Therefore, carefully consider the amount you are borrowing. Remember, the amount you borrow this year will be added to other loans you have or will be taking out in the future. So while the loan amount may not seem to be very much this year, four years of debt can add up. You may want to look at your budget and see if there are ways you can minimize your borrowing. Also, consider the differences in loans, such as the interest rate, when that rate is assessed, the amount you'll be borrowing and repayment options.
[top]

Q.	Can my parents and I both apply for loans?
A.	Yes. Loans are available for both parents and students. Parents may borrow for their undergraduate students through the PLUS loan program, and there are numerous borrowing options available to students. However, the total amount borrowed (by both you and your parents), cannot exceed the cost of your education. Please note that not all colleges offer parent loans so it is important you contact your campus financial aid office to find out more information.
[top]

Q.	How do I apply for a grant? For loans?
A.	By completing the FAFSA and supplying any other required documents to the financial aid office, you are considered for federal grant and loan programs. In order to be considered for Cal Grant, as well as for some other funds, you will need to meet the priority deadlines. For Cal Grant you will also need to complete a GPA verification form. To apply for a loan, you will need to complete a promissory note through your campus. Contact the financial aid office to find out when and how to apply for a student loan.
[top]

Q.	My child was awarded a Federal Stafford loan as part of a financial aid package. The award letter also indicated that we could take out a PLUS loan. How do we find out more about borrowing?
A.	Specific information on how to borrow should be included in your child's financial aid award letter. Your child should receive information that specifically identifies how to apply for the loans, what forms you need to fill out and the terms of the loans.
[top]

Q.	I am concerned that my child will have to take on a lot of loans in order to go to the college of his/her choice. Do we have options?
A.	Yes, there are many options. The campus financial aid office will first determine your child's eligibility for grants and then loans. If offered a loan, you may decline all or part of it. Your child also may consider a part-time job to help meet expenses. It is wise to review your child's expenses to determine those areas in which costs can be reduced. High grades increase eligibility for scholarships. Parents can take out the PLUS loan and, if available, utilize other financial resources.
[top]


	Home : Ask for Help : Frequently Asked Questions	Log On

Brought to you by the California Community Colleges Chancellor's Office and powered by Xap. Copyright © 2001-2008 XAP Corporation. All rights reserved. Use of this website constitutes acceptance of the XAP Privacy Policy.