Fall Edition 2016 > Financial Policies and Information > Financial Aid Programs

Financial Aid Programs

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

Federal Aid Programs

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's family 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 certifies eligibility for each loan, and sends the loan details to the U.S. Department of Education.  Loan proceeds are disbursed to the University electronically and then posted to the student's account.  Students must repay the loan with interest to the servicer assigned by the U.S. Department of Education after the loan is disbursed. 

Federal 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.  First-time borrowers may not receive this type of loan for more than 150 percent of the length of their program of study; U.S. Department of Education may stop paying interest if student who received Direct Subsidized Loans for maximum period continues enrollment.

Federal 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 can borrow up to $5,500 for their first academic year as a combined total with the Federal Subsidized Direct loan, $6,500 for their second academic year and $7,500 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.

Federal Direct Parent Loan for Undergraduate Students (PLUS):  Federal Parent Loans for undergraduate students provide additional funds for credit-worthy parents to help pay for students' educational expenses.  Interest rates are fixed and established annually by the U.S. Department of Education.  Current interest rates can be found at https://studentloans.gov.  Repayment begins immediately after the loan is fully disbursed.  

Federal Direct PLUS Loans for Graduate Students (GRAD PLUS):  Federal Graduate PLUS Loans for students pursuing a graduate or professional degree provide additional funds for credit-worthy graduate students to help pay for students' educational expenses.  If a student has no credit or a poor credit history, he/she may still qualify for a loan buy applying with a credit-worthy endorser.  Interest rates are fixed and established annually by the U.S. Department of Education.  Current interest rates can be found at https://studentloans.gov.  Repayment begins immediately after the loan is fully disbursed.  

State Aid Programs

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 eligibility 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.  

Chafee Grant Program:  The California Chafee Grant for Foster Youth is a grant program administered by the State of California. To qualify, the student must be a current or former foster youth and not have reached his or her 22nd birthday as of July 1st of the award year. The court must have established dependency for the student between the ages of 16 and 18. (KinGap youth, adopted youth, guardian placement, and voluntary placement may not be eligible for the Chafee Grant, unless court dependence was established, at anytime, between the ages of 16 and 18.) The California Department of Social Services will verify an applicant’s foster youth eligibility status. Chafee Grant payments will be credited to the student’s account at West Coast University to cover tuition, fees, and supplies. Excess Chafee Grant funds may be used to pay for child care, rent, or transportation while attending school. The Chaffee Grant is federally and state funded and is subject to the availability of funds each year.

More information about Cal Grants and Chafee awards is available online athttps://mygrantinfo.csac.ca.gov/logon.asp.