California Edition 2014-2015 > Financial Policies and Information > Financial Aid Programs

Financial Aid Programs

The following is a description of the financial aid programs available at West Coast University for students who qualify. Additional information may be obtained through the Financial Aid Department.

Cal Grant Program: Cal Grant A and B are State grant programs administered by the State of California and are available to eligible students who have applied before the March 2nd deadline.  Student elibility must be approved by the California Student Aid Commission. Grants are based on funds available from the State and do not have to be repaid. All Cal Grant payments are credited to the student’s account to cover outstanding tuition fees, and supplies. However, a student may request direct payment of his or her Cal Grant B access funds up to the date the fund transaction actually occurs.

Federal Pell Grant: The Federal Pell Grant program provides a foundation of assistance to which other forms of aid may be added. Eligibility for the Federal Pell Grant Program is determined by a standard need-analysis formula that is revised and approved every year by the federal government. Unlike loans, grants do not have to be paid back. The maximum Federal Pell Grant for 2014-2015 is $5,730 per academic year.

Federal Supplemental Educational Opportunity Grant (FSEOG): Federal Supplemental Educational Opportunity Grants are available to a limited number of students with exceptional financial need. Grants are based on funds available and do not have to be repaid. Need is determined by the financial resources of the student and parents and the cost of attendance.

Federal Work-Study (FWS): The Federal Work-Study program provides jobs for graduate and undergraduate students with financial need, allowing them to earn money to help pay educational expenses. The program encourages community service work related to the student’s course of study. Funds under this program are limited. Students interested in obtaining a Federal Work Study job should contact the Student Affairs Office.

William D. Ford Federal Direct Loan: Under the Federal Direct Loan (FDL) program the University originates the Direct Loan. The loan is then sent to the U.S. Department of Education’s Common Origination and Disbursement Center (COD) and disbursed to the University electronically through the Grant Administration and Payment System (G5). Students repay the loan to the servicer assigned by the U.S. Department of Education (ED) after the loan is disbursed.

Subsidized Direct Loan: Federal Direct Subsidized loans are available to undergraduate students with financial need. Students may borrow up to $3,500 for their first academic year, $4,500 for the second academic year, and $5,500 for the third and fourth academic years, at a fixed interest rate which is established annually by the U.S. Department of Education. Current interest rates can be found at https://studentloans.gov.  The interest is paid by the federal government while students are in school. Interest begins accruing at the time students cease full-time enrollment or fail to carry at least one-half the normal full-time University workload. Regular payments begin six months after students cease enrollment or fail to carry at least one-half the normal full-time University workload.

Unsubsidized Direct Loan: Unsubsidized Direct loans are available for students to borrow for additional education costs. Independent undergraduate students can borrow up to $9,500 for their first academic year, $10,500 for the second academic year and $12,500 for their third and fourth academic years, as a combined total with the Federal Subsidized Direct loan. Dependent undergraduate students whose parents do not qualify for a PLUS loan can borrow up to $9,500 for their first academic year as a combined total with the Federal Subsidized Direct loan, $10,500 for their second academic year and $12,500 for their third and fourth academic years.  Graduate students can borrow $20,500 each academic year.  Interest rates are fixed and established annually by the U.S. Department of Education. Current interest rates can be found at https://studentloans.gov. With the exception of demonstrating financial need and undergraduate status, borrowers must meet all eligibility criteria of the Federal Subsidized Direct loan program. Interest payments begin immediately after the loan is fully disbursed or may be added to the principal balance. Regular payments begin six months after students cease enrollment or fail to carry at least one-half the normal full-time school workload.

PLUS Direct Loan: Direct PLUS Loans are loans for eligible graduate or professional students and eligible parents of dependent undergraduate students to help pay for the cost of the student's education.   Graduate or professional students should exhaust unsubsidized loans before taking out Direct PLUS Loans. Interest rates are fixed and established annually by the U.S. Department of Education.  Current interest rates can be found at https://studentloans.gov.