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Mt Sierra Extension

Financial Aid & Scholarships

Resources to help you achieve your goals



Mt. Sierra College students may be eligible for financial aid or scholarships to help defer or delay the costs of their education and related expenses. In this section you can explore the different financing options available.

Financial aid is available in the form of grants, loans and scholarships. The purpose of financial aid is to bridge the gap between educational cost and a student's resources; it is not intended to directly provide money for living expenses.

To establish your eligibility for aid, you will need to complete the Free Application for Federal Student Aid (FAFSA). This application must be completed each fiscal year you request financial aid at Mt. Sierra College. Go www.fafsa.gov  to learn more about the application process, or explore the links within this section for more information.

If you cannot find the information you're looking for, please email us studentfinance@mtsierra.edu or contact us at:

Mt. Sierra College
Financial Aid Office
101 Huntington Drive
Monrovia CA 91016
626-873-2153

 

Financial Aid Programs

Financial Aid Programs Available at Mt. Sierra College

Mt. Sierra College offers eligible students access to grant and loan programs. For more information on each of the programs below, refer to the FA GUIDE.

Grants

Federal Pell Grant is a grant program to help students with tuition cost. This program assists students who are working toward a first bachelor's degree.

Award range: $400 to $5,500
Applications: FAFSA
Application deadline: June 30, 2013
Date funding begins: July 2012

Federal Supplemental Educational Opportunity Grant (FSEOG) is a grant program to assist with tuition cost. SEOG works like PELL grant, a student must be enrolled in a first bachelor's degree. Awards are made on a limited basis to students with an exceptional financial need.

Award range: $150 to $4000
Applications: FAFSA
Application deadline: Priority filing date is March 2, 2012
Date funding begins: July 2012

Cal Grant A is a state funded grant program to help students with tuition cost. Grant recipients are selected on the basis of financial need and grade point average. Students must be California residents working towards a first bachelor's degree. Recipients of this award will be notified by the California Student Aid commission in June.

Award range: $100 to $12,944
Applications: FAFSA, GPA verification
Application deadline: March 2, 2012
Date funding begins: October 2012

Cal Grant B is a state funded grant program to help students with tuition cost. This program is intended to assist students with high potential from disadvantaged /low-income families. Students must be California residents who have completed less than one semester of undergraduate studies. Recipients of this award will be notified by the California Student Aid Commission in June.

Award range: $100 to $12,944
Subsistence range: $100 to $2,068
Applications: FAFSA, GPA verification
Application deadline: March 2, 2012
Date funding begins: October 2012

Loans

Federal Stafford Student Loan is a loan program to assist students with educational expenses. The interest rate is fixed at 6.8 percent for loans issued after July 1, 2012. Stafford recipients are not required to make payments or pay the interest during half time, full-time attendance or the first six months after the student's last day of attendance.

Loan Amount: For each academic year, a dependent student may borrow:

  • Up to $3,500 as a first year undergraduate
  • Up to $4,500 as a second year undergraduate
  • Up to $5,500 as a third, fourth, or fifth year undergraduate
  • Up to $5,500 as a fifth year Credential student

Dependent students may receive both an unsubsidized and subsidized Stafford up to the amounts listed above.

Applications: FAFSA, Loan Request.
Application Deadlines: Three months prior to the student's last course of the academic year.
Date funding begins is based on each student's individual course schedule.

Unsubsidized Federal Stafford Loan is a program available to students who may not qualify for a subsidized Stafford Loan or for students who may qualify for only a partial subsidized Stafford loan. The interest rate is fixed at 6.8 percent for loans issued after July 1, 2006. The terms and conditions are the same as the subsidized Stafford Loan, except that the borrower is responsible for the interest that accrues while the student is in school during the grace period.
Loan Amount: Students may receive both subsidized and unsubsidized Stafford Loans totaling up to the applicable Stafford limit (based on grade level).

Applications: FAFSA, Loan Request

For each academic year, an independent student may borrow:

  • Up to $9,500 as a first year undergraduate (at least $4,000 of this amount must be in unsubsidized Stafford)
  • Up to $10,500 as a second year undergraduate (at least $4,000 of this amount must be in unsubsidized Stafford)
  • Up to $12,500 as a third, fourth, or fifth year undergraduate (at least $5,000 of this amount must be in unsubsidized Stafford)
  • Up to $12,500 as a Credential student (at least $7,000 of this amount must be in unsubsidized Stafford)
  • Up to $20,500 as a graduate student

Application Deadlines: prior to the student's last day of attendance of the academic year (must allow for processing time).
Date funding begins is based on each student's individual course schedule.
Note: Students enrolled in an academic year requiring less than 48 units will be subject to a pro-rated loan.

Aggregate Stafford Loan Limits

Dependent Undergraduate: $31,000
Independent Undergraduate: $57,500
Graduate: $138,500
($65,500 in subsidized Stafford and $73,000 in unsubsidized Stafford)
Note: The graduate debt limit includes any Stafford Loans as an undergraduate.

Fees

Loan Origination Fee: For first disbursements on or after July 1, 2008, a loan origination fee of up to 1% of the loan principal is also deducted proportionately from each loan disbursement.
Insurance Premium: An insurance premium of 1%, called the Federal Default Fee, of the loan principal may also be deducted proportionately from each loan disbursement.

Federal Parent Loans for Students (PLUS) is a loan program to assist parents of the undergraduate dependent students with educational costs. The interest rate is fixed at 7.90 percent for the life of the loan for loans issued after July 1, 2012. Like the unsubsidized Stafford Loan, the interest is not subsidized by the government. Repayment begins 60 days after the loan is made.

Loan Amount: For each academic year, a parent may borrow up to the student's cost of attendance minus other aid, per undergraduate dependent student.
Fees: 3% origination fee and up to 1% Federal Default Fee.
Applications: FAFSA, Prescreen PLUS Application, Parent Loan Request.
Application Deadlines: prior to the student's last day of attendance of the academic year (must allow processing time).
Date funding begins is based on each student's individual course schedule.



Note: Award ranges and aid types are tentative.

 

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