Show Me the Money: A Guide to Finding/Receiving Financial Aid

Prepared by: Cheryl Kroll, TEP Counselor

Source: The California Student Aid Commission and EDFUND

Frequently Asked Questions

What Is Financial Aid?

“Financial aid” is a term that covers a wide variety of programs that help you and your family pay for college or graduate school. The three major sources of aid are the federal government, the state government, and the educational institution you choose to attend.

What Are The Types Of Aid?

  • Scholarships: A gift, often based on achievement rather than need, that is offered by community and professional groups, businesses, foundations, unions, churches, and other organizations.
  • Grants: Financial aid that does not need to be repaid (e.g., the Cal and Pell Grants)
  • Loans: Money that must be repaid with interest (e.g., the Stafford and Perkins)
  • University-Based Programs: Scholarships, tuition payment plans, fee waivers, and other subsidies offered by a specific campus
  • Work-Study and Internships: Federal, state, campus, or private programs that provide you with a job to help defray education costs.

Who Qualifies For Financial Aid?

Most financial aid is need-based, designed to bridge the gap between what you and/or your family can afford to pay and what your education will cost. However, some types of financial aid are merit-based. Students receive this aid based on their individual achievements (e.g., scholarships given for high test scores or good grades).

What Is The Application Process?

The Free Application for Federal Student Aid (FAFSA) is commonly used for all federal financial aid programs, California state aid programs, and for many institutional aid programs across the country. This form, which is used to determine your financial need, can be obtained electronically at: You may also obtain a hard copy from your school’s Financial Aid Office. Note: It is recommended that you submit this form online. To do so, you must first set up your PIN (Personal Identification Number) at: In addition to completing the FAFSA, the California Student Aid Commission will also expect you to complete a CSAC GPA Verification Form. You may likewise choose to complete the College Scholarship Source (CCS) Financial Aid Profile at: a supplemental application that schools and scholarship organizations use to award private financial aid. (Note: There is a fee to file the Financial Aid Profile). Finally, you will want to contact your intended transfer school and/or private scholarship sources for their specific application forms.

When Should I Apply?

Application / Date
FAFSA / March 2
CSAC GPA Verification Form / Fall semester – March 2
CSS Financial Aid Profile / September 15
Institutional Aid / Contact the institution directly
Private Aid / Contact the source directly

What Happens After I Apply?

You and the schools you listed on your FAFSA will receive a SAR (Student Aid Report). The Financial Aid Office will then use the SAR to determine your financial aid eligibility and will create a financial aid award package which will, in all likelihood, include a combination of grants, loans, and scholarships. Once you have been admitted to your transfer school, the Financial Aid Office will send you a financial aid award letter specifying the contents of your financial aid package and how/when to accept or decline its contents.

Are There Special Financial Aid Programs For Future Teachers?

Yes! Some of the most common ones are listed below:

Type of Aid for Teachers / Description
Cal Grants A and B for Teaching Credential Programs / The Cal Grants (A and B) can be extended for an additional year for students entering teaching credential programs.
Cal Grant T / Awards one year of tuition and fees for students in a California Commission on Teacher Credentialing-approved teaching credential program. Note 1: For every $2,000 awarded, students must teach in a low-performing school for one year. Grant awards convert to loans if this service requirement is not met. Note 2: The Cal Grant T may not be available during economic downturns.
Assumption Program of Loans for Education (APLE) / Assumes up to $11,000 in student loan debt in return for four years of teaching service in a designated subject area or in a designated K-12 school. An additional $8,000 more can be assumed for those who teach math, science, or special education at the lowest-performing schools.
Federal Teacher Loan Forgiveness Program / Forgives up to $5,000 of federal Stafford student loan debt in return for five consecutive years of teaching service at a low-performing school.
Child Development Teacher Permit / Designed for outstanding students pursuing a child developmentpermit as a teacher, site supervisor, or program director. Community college students receive $1,000 per year for up to two years, and university students receive $2,000 per year for up to two years. In return, participants work full-time at an eligible California children’s center for one year for every year of funding received.

Where Can I Learn More?

You may contact any of the following sources:

Resource / Description / Contact Information
Cal Grants / Information on California’s grants, including their benefits and how to apply for one /
California Student Aid Commission / Learn about Cal Grant programs and other state aid /
College Board / Useful information on planning and paying for college /
College Board Online Scholarship Search / Search this database of more than 2,000 programs that provide funding for undergraduate study from non-college sources /
College Opportunities Online / Identify your major, interests, and geographic area, and this US Department of Education Website suggests potential colleges /
EdFund / Information about money management and student loans /
FastAid / Search this online database for thousands of scholarships /
FastWeb / Search private sector sources of financial aid /
FinAid / Information on financial aid and how to apply for it /