As of July 1, many changes have been made to financial aid programs in order to comply with new federal and state regulations.

Beginning with the summer 2012 term, enrollment fees have increased to $46 per unit.

The maximum lifetime eligibility to receive a Pell Grant is now twelve full-time equivalent semesters. This limit includes all prior semesters at all prior schools in which Pell Grant aid was received. Eligibility for Pell Grant aid ends after receiving twelve full-time semesters of aid.

To receive a BOG C Fee Waiver, students will need to have at least $1,104 of “financial need.” Financial need is calculated by subtracting Expected Family Contribution from the full year cost of attendance.

An IRS Tax Transcript is now required in place of a copy of the federal income tax return. Federal income tax returns are no longer accepted to verify taxable income for students or parents. Copies of IRS Tax Transcripts can be found for free at http://www.irs.gov under the “Tools” section. This change applies to students who apply for a BOG Fee Waiver as well.

Students enrolling for the first time after July 1, 2012 must have a high school diploma, GED, or state equivalent to be able to receive any federal financial aid. Passing an Ability to Benefit test or completing six degree applicable units to gain eligibility is no longer an option to receive federal financial aid.

For direct loans disbursed on or after July 1 of this year the interest rate has increased from 3.4% to 6.8%. For new loans from website first disbursed from July 1 through June 30, 2014, the government will not pay the loan interest during the six month grace period. This is the time after students drop below half-time enrollment, leave school, or graduate. Students should check with their Loan Servicer for options to help with loan repayment. You can find out more about getting financial help from reliable companies especially when it comes to your mortgage payments.

Students can contact the Office of Financial Aid with any questions or concerns at (562) 908-3411.