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Financial Aid

FINANCIAL AID POLICIES &

PROCEDURES

Eligibility

To be eligible to receive financial aid, a student must:

1. Be a U.S. citizen or permanent resident (except

for international scholarships).

2. Be enrolled as a full-time student.

3. Have a high school diploma or equivalent.

4. Maintain satisfactory academic progress towards

graduation and maintain a minimum cumulative

GPA as required.

5. Be registered for the draft with the Selective

Service if the student is male, at least 18 years

old, was born after December 31, 1960 and

is not a current member of the active armed

service.

6. Not be in default on any Title IV loans or

owe repayment on any Title IV grant.

Priority in awarding is based upon the timely filing

of all required applications, supporting documents

and notification of admission to the College.

Most awards (scholarships, grants, loans) are

disbursed in two equal installments, which are

credited directly to the student’s account. Most

financial awards are eligible for renewal based

on program guidelines and an annual application

(modified for continuing students) must be

submitted.

Determination of Need

Financial need is calculated by information the

student provides on the Free Application for Federal

Student Aid (FAFSA)

.

International students will need to

complete the International Student Financial Aid Application,

which is available upon request from the International Student

Office.

This standard form, used nationwide in higher

education, gathers information on the family’s

financial situation— their income and assets. Other

requested information includes the number of family

members and the number of family members in

college. The results of this calculated assessment

is what is commonly referred to as the Expected

Family Contribution or (EFC).

The EFC is subtracted from the cost of attendance

and the result is a calculation of the student’s

“financial need”. Aid eligibility at The Master’s

College is a function of both our cost of attendance

and your expected family contribution.

Application Process

For federal, state and institutional aid you will need

to:

1. Complete and submit the Free Application for

Federal Student Aid (FAFSA).

2. Complete The Master’s College Financial Aid

Application (FAA) and return it to the Office

of Financial Aid.

3. Submit the appropriate Federal Verification

Worksheet.

4. If required for verification, complete IRS Data

Retrieval or IRS transcript.

Applicants for all Cal Grant programs must also:

5. File a verified grade point average (GPA) with

the California Student Aid Commission no later

thanMarch 2nd and have the FAFSA completed

by March 2nd.

OPTION 1

:

Obtain a GPA Verification Form, have

it certified by a school official at the current

school attended and send it to the California

Student Aid Commission. Photocopy the form

prior to mailing and obtain a proof of mailing

for verification purposes. Home schooled

students will need to send SAT or ACT scores to

the California Student Aid Commission before

March 2nd.

OPTION 2

:

Many high schools and colleges will

file (with a signed release) a student’s verified

GPA with the Commission in roster form. This

option should be verified with each institution.

FINANCIAL AID AWARDS

Once all applications and supporting documents are

received (which includes the results of the FAFSA),

a financial aid award will be offered to the student.

Financial Aid

23

THE COLLEGE