New for the 2014-15 school year: students from middle class families have access to FREE financial assistance to help pay for college. California recently enacted a new scholarship program, the Middle Class Scholarship (MCS). Students with family incomes of up to $150,000 may be eligible. Apply for financial aid by the March 2nd deadline at studentaid.gov. AB 540 students may also qualify and should file their Dream Act application. Please click HERE for more information.
Requirements
- California resident
- Complete the FAFSA by the March 2 priority deadline
- U.S. citizen, permanent resident or have AB 540 student status
- Family income of up to $150,000, and a maximum annual household asset amount of up to $150,000
- Attending an University of California (UC) or California State University (CSU) campus
- Limited to first-time undergraduates and teaching credential students
- Maintain satisfactory academic progress
- Not be in default on a student loan
- Not be incarcerated
- Must be enrolled in at least half-time units
Selection
The California Student Aid Commission (CSAC) will notify MCS recipients of their award eligibility. The maximum award amount will be based on the number of eligible applicants and funding allocated through the state budget. Additionally, the maximum award amount will be phased in over the next 4 years.
- 35% in 2014-15
- 50% in 2015-16
- 75% in 2016-17
- 100% in 2017-18
Award Amount
- Varies - By 2017-18 it will be up to 40% of mandatory systemwide fees for students whose annual family income is up to $100,000, and at least 10% of mandatory systemwide fees for students whose annual family income is between $100,001 and $150,000
- Eligibility will be reduced by the amount of other need-based aid used to cover fees (e.g., Pell Grant, Cal Grant, Fee Waivers, institutional need-based aid such as SUG or EOP, Scholarships, etc.)
Timing of Awards
• Once the eligibility roster is received from the California Student Aid Commission, the school must certify that the student is still eligible for an MCS award (i.e., the student's income data has not changed on their FAFSA, affecting their award; the student hasn't been awarded grants or waivers that reduce their MCS eligibility; their enrollment hasn't changed, reducing the amount of their fees, which is tied to their MCS award, etc.). Due to these certifications, the school will not award MCS until after Census Day each term.