Types of Financial Aid

 

Merit Aid

A variety of colleges both public and private across the nation offer students gift aid based on their achievements whether it be GPA, test scores and/or leadership role.

For more information go to www.meritaid.com.

Campuses also offer gift aid to students who have talents in a variety of areas:  science, arts or athletics. 

Check to see policy and regulations to renewing these type of gift aids. 

Need Based Grants

A variety of private institutions across the nation provide students need based grants.  Students awarded these grants are usually low to low middle income.  Students must check if the grants are renewable and if they have any GPA requirements once a student attends college.  Grant amounts vary with each institution.

Check each college's financial aid website for more information.

Cal Grant

CA Gift Aid for eligible students attending a California college.  There are three different types of Cal Grants:

Cal Grant A:  Students with 10th and 11th grade unweighted GPA  of a 3.0* who come from middle to low income families. Students can receive free tuition at a UC and CSU campus.  Amount vary every year for private institutions in California.  Must be financial eligibile every year for the grant to be renewable for up to four years.  Students must attend an accredited four year university in California.

Cal Grant B:  Students with a 2.0 unweighted GPA from 10th and 11th grade or higher who come from low income families.  Initial amount is $1,550 and second through four year will continue to have the Cal Grant B amount as well as the Cal Grant A amount.  Student must attend a four year accredited university in California. 

Cal Grant C:  for students who are going to technical and career programs that are accredited.  The Cal Grant GPA , student's demographic information and income is considered for this Cal Grant.

Students must have a GPA Verification form filled out by their high school no later than March 2nd during their senior year.  This form is required along with the FAFSA form.  All documents should submitted early.

 

UC / CSU Grants

The CA public university system can grant families who are low to middle income free grant money to help meet their financial needs.

Families apply for these grants via the FAFSA form.

Pell Grant

A federal gift aid for low income undergraduate students

Grant is renewable and does not need to be paid back

Must apply for this federal aid like other federal programs through FAFSA

Learn more

Supplemental Educational Opportunity Grants (SEOG)

A federal gift aid grant

Student must be eligible for Pell Grant

Limited amount awarded at each campus

Maximum amount is $4,000 per year

Grants do not need to be paid back

Learn more

Work Study

  • Funded by federal government or institution
  • Require to fill out FAFSA form
  • Undergraduates and graduates
  • On campus job with paid wages - jobs are not guaranteed
  • Money must be earned
  • Can be either on or off campus
  • Funding levels vary at each institution
  • Learn More

Perkins Loan

•Priority given to those with exceptional need
•Student must be eligible for Federal Pell Grant
•Fixed interest rate of 5 %
•Repayment 10 year maximum

Federal Loans (subsidized and unsubsidized)

Most common loan

Federal loan for undergraduate students who are attending college at least half time

There are two types:

Subsidized loan

Based on soley on financial need.  The federal government pays the interest while the student is in college. Repayment begins after 60 days when a student is no longer attending college at least half time. 

Interest rate is fixed.

Unsubsized Loan

For all eligible students, regardless of income or assets. 

Students will pay interest on the loan, but sudents can defer interest payments while the student is at least half time student. 

Interest rate is fixed.

Learn more

Plus Loan

Parent borrows for dependent undergraduate
Approval subject to credit check
Repayment begins after 60 days
*subject to change

Private Loans

  • Also known as Alternative Loans
  • Not made under the Title IV regulations
  • Lender assumes the risk of default
  • Credit based and may require a co-signer
  • Interest and fees are usually higher than a federal loan and usually the interest rate is not fixed
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AMDG
St. Ignatius College Preparatory

Courage to Lead; Passion to Serve

2001 37th Avenue San Francisco, CA 94116
(415) 731-7500
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