Fountain Valley High School

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Financial Aid

financial aid
2024-25 FAFSA Known Issues

 

What is Financial Aid?

 

Financial aid is the monetary assistance provided to you for educational costs in the form of scholarships, grants, awards, part-­time employment and/or loans.

 

Sources of Financial Aid 

 

  • Federal Aid 
  • State Aid 
  • Private or Outside Aid 
  • Institutional Aid 
  • Scholarships and Grants
 
Need Vs. Merit Based Aid - What's the Difference? 
 
Need Based Aid -  based on the family's financial ability to pay for educational costs (grants, loans, work study; some funds are awarded on a first-come, first-served basis).
 
Merit Based Aid -  based on student's talent or academic ability (academics, athletics, music, theatre, etc).
 
FAFSA - Free Application for Federal Student Aid
 

To apply for federal aid such as federal grants, work-study, and loans you will need to complete the Free Application for Federal Student Aid (FAFSA).

Basic eligibility requirements to complete FAFSA can be found on studentaid.gov here.

Instructions for filling out FAFSA can be found on studentaid.gov here.
 
California Dream Act 
 
AB 540 / SB 68 eligible students who are undocumented, DACA-mented, U visa holders, & TPS holders can fill out the California Dream Act Application at caldreamact.org and follow the instructions and video guides provided in the Financial Aid Guide below. 
 
How is Your Financial Aid Determined? 
 
Cost of Attendance (COA) - Expected Family Contribution (EFC) = Financial Need 
 
Cost of Attendance - Your COA is the amount it will cost you to go to school. Most two year and four year colleges will calculate your COA to show your total cost for the school year.
 
Estimated Family Contribution - Your EFC is an index number that college financial aid staff uses to determine how much financial aid you would receive if you were to attend their school. The information you report on your FAFSA form is used to calculate your EFC. 
 
You can find more in depth information on how your estimated family contribution and financial need is determined on studentaid.gov here. 
 
Additional Resources 
 
 
AB 469 Opt Out Forms
Additional Resources: 
 
Grants Vs. Scholarships