Parent Financial Aid Opportunities
一道本不卡免费高清As parents, you play a tremendous role in planning out your expenses and helping your student finance their shopmyoslife.comcation. The Office of Financial Aid is here to help walk you through the process, and we want to make sure you’re aware of all the different financial aid opportunities available not only for your student, but for you as well.
Direct Parent PLUS Loan
Credit-based loan for parents of dependent students who are enrolled at least half-time.
|Amount and Interest|
Up to cost of attendance minus financial aid.
For current loan interest rates and origination fee amounts, please visit the .
一道本不卡免费高清See the following required applications:
June 1 — This is the recommended deadline in order to be processed in time for the beginning of the school year. All loan requests must be received no later than the last day of the semester in which the funds are being requested in order to be processed.
一道本不卡免费高清Students and parents must meet the following eligibility requirements:
Loan repayment is deferred while a student is enrolled at least half-time in a degree program. Repayment typically begins six months after a student drops below half-time enrollment.
No, this loan is not renewable. Parents must reapply each academic year.
Private Student Loan
一道本不卡免费高清You may choose to borrow Private Student Loan funds from a private financial institution to help fund your education after all other resources have been exhausted:
- Federal direct loans are required by law to provide a range of flexible repayment options, including, but not limited to, income-based repayment and income-contingent repayment plans, and loan forgiveness benefits, which other student loans are not required to provide.
- Federal direct loans are available to students regardless of income, whereas private student loans are dependent on student (and cosigner) credit. Private loans are not federally funded, and are dependent on student (and cosigner) credit. Private loans tend to have higher interest rates than federal direct loans, and in most cases, Parent PLUS loans.
|Amount and Interest|
Minimum loan amounts begin at $1,000 and may also be large enough to cover the remaining cost of attendance (varies by lender).
一道本不卡免费高清Maximum loan amounts are determined by subtracting all of a student's financial aid from their cost of attendance for the school year.
一道本不卡免费高清Interest rates vary by lender.
Students can complete a loan application with their chosen lender, or may look for a lender on our . Please note the following additional details:
June 1 — This is the recommended deadline in order to be processed in time for the beginning of the school year. All loan requests must be received no later than the last day of the semester in which the funds are being requested in order to be processed. Please allow 4–6 weeks for processing.
一道本不卡免费高清Generally, the borrower must be a U.S. citizen, eligible non-citizen with a U.S. address, or an international student with a U.S. citizen cosigner (varies per lender).
Criteria varies per lender. Unless you are steadily employed, earn at least $12,000 a year, and have a stable credit history with a good FICO score (over 700), you will more than likely need a cosigner in order to be approved for a private student loan.
No一道本不卡免费高清, these loans are not renewable. Students must apply yearly using the application resources linked above.
Key Tips for Parents
一道本不卡免费高清As you navigate the financial aid process with your student, keep the following key tips in mind:
- All correspondence from the Office of Financial Aid must be sent to your student. We recommend you stay in contact with your student for important financial aid information.
- Per federal regulations, we can only speak to you if your student has authorized us to do so. Please make sure your student has included your name on their "Information Release Consent Form.” If not, they can complete a new FERPA form, available on our Important Forms page.
- The best time to complete your FAFSA is in October. You do not need to have your taxes completed to file the FAFSA, and can submit the form using estimated figures. If you use estimated figures, you will need to make updates once you have filed your taxes. Learn how to transfer your tax information into your FAFSA form (using the IRS Data Retrieval Tool) on the .
- For families who have established California residency for at least 1 year, please submit a verified Cal GPA form by March 2 to be considered for a Cal Grant.
- The FAFSA needs to be completed each year your student enrolls in college if you are receiving aid (including Direct Loans). If you need other loans as well, the PLUS or Private Student Loans also require a new application each year.
- All requirements for your student’s financial aid file — after FAFSA or CADAA (Dream Act) forms are submitted, and after Cal GPA form has been submitted for California residents, — have a priority deadline of April 15. All Parent Plus Loan and Private Loan applications have a priority deadline of June 1.
Know Your Options
Financial Aid Counseling
一道本不卡免费高清Have questions about the process? Call us or come by our office for a drop-in appointment with a knowledgeable financial aid counselor — they can help.
一道本不卡免费高清The Office of Financial Aid is here to answer questions you have about the financial aid process. Contact us in person, by phone or email.