Jul 15, 2024  
Catalog 2024-25 
    
Catalog 2024-25

Financial Aid



At CSUMB. we are committed to supporting your education through various financial aid sources.  These include federal, state, and private, as well as funds from the university. Please note that, except for scholarships, all financial aid awards are based on financial need as determined by federal and state formulas.

If you want to apply for financial aid, please fill out the the FAFSA or CADAA application.  CSUMB code which is: 032603.

The following pages provide students and parents with information concerning student financial assistance available at CSUMB.

You will find more detailed information and services on the Financial Aid website. There, you may obtain:

  1. A description of the federal, state, institutional, local, and private student financial assistance programs available to students who enroll at CSUMB;
  2. For each aid program, a description of procedures and forms by which students apply for assistance, student eligibility requirements, criteria for selecting recipients from the group of eligible applicants, and criteria for determining the amount of a student’s award;
  3. A description of the rights and responsibilities of students receiving financial assistance, including federal Title IV student assistance programs and criteria for continued student eligibility under each program;
  4. The Satisfactory Academic Progress standards that students must maintain to receive financial assistance and criteria by which a student who has failed to maintain Satisfactory Progress may reestablish eligibility for financial assistance;
  5. The method by which financial assistance disbursements will be made to students and the frequency of those disbursements;
  6. The way the school provides for Pell-eligible students to obtain or purchase required books and supplies by the seventh day of a payment period and how the student may opt out;
  7. The terms of any loan received as part of the student’s financial aid package, a sample loan repayment schedule, and the necessity for repaying loans;
  8. The general conditions and terms applicable to any employment provided as part of the student’s financial aid package;
  9. The terms and conditions of the loans students receive under the Direct Loan and Perkins Loan Programs;
  10. The exit counseling information the school provides and collects for student borrowers; and
  11. Contact information for campus offices is available for disputes concerning federal, institutional, and private loans.

Cost & Need

Annual Cost of Attendance

The Cost of Attendance at CSUMB is on the Financial Aid homepage. These costs are based on average student expenses for the nine-month academic year. Please consult the Tuition & Fees  section of the catalog for further details on the actual cost of tuition.

Computer Allowance

The cost of education can be increased to reflect the cost of purchasing a computer. This is a one time allowance.

Study Abroad

The cost of education may be adjusted to reflect expenses for approved programs for studying abroad. Check with the Financial Aid Office before enrolling.

Summer Session and Winter Session

Enrollment in the summer and Winter Sessions has separate registration costs. If you choose to enroll for these sessions, your education costs will be adjusted.

Loan Fees

If your award letter offer includes a student loan, be aware that a loan origination fee will be deducted from your student loan.

Costs of Education Charges

You must notify the Financial Aid Office if your living arrangements change since you completed your FAFSA. These changes may affect your education costs.

If you have additional costs (e.g. childcare or medical expenses not covered by insurance) and feel you need an adjustment in your award to reflect these expenses, you should contact the Financial Aid Office.

Student Aid Index

Your Student Aid Index is based on a formula mandated by federal and state regulations. If you feel that you have unusual circumstances affecting your family’s ability to contribute, you should contact the Financial Aid Office.

Application & Deadlines

Applying for Aid

Free Application for Federal Student Aid and California Dream Act

You must complete your financial aid application online to determine your eligibility for financial aid. Financial Aid is awarded on a first-come, first-served basis so you are encouraged to submit your application soon after January 1. Print out a confirmation page for your records when submitting your financial aid application online. The CSUMB federal school code for the FAFSA/CADAA is 032603.

If you applied for financial aid the previous year, a renewal FAFSA/CADAA will be available online upon logging in to your application.

Application for Admission

You must be admitted to CSUMB before Financial Aid determines your financial aid eligibility. A supplemental application is required for admission to the Educational Opportunity Program (EOP). 

New Cal Grant Applications

If you are applying for Cal Grant A or Cal Grant B and you have not received this grant in previous academic years, you must complete a Cal Grant grade point average (GPA) verification form. You can obtain this form from high school counselors, college counselors, or financial aid offices.

Deadlines

It is important to file applications as soon as possible after January 1. Students who are admitted to the university for the Fall semester should complete the FAFSA before notification of admission. You must apply before May 2 to qualify for Cal Grants. Other grants are limited and are awarded on a first-come, first-served basis. Your application will be accepted after May, but you are more likely to only receive student loans.

You may also be asked to submit supporting documents before your financial aid eligibility is determined. This could include copies of federal income IRS transcripts/tax returns or an income verification form if no tax return was filed. You will receive a letter and/or email from the CSUMB Financial Aid Office if additional forms are required.

Award Notification

Your application will be reviewed after you have turned in all required documents and have been admitted to CSUMB. You may be asked for additional information if corrections are needed or if any information on your application is unclear. It is important that you respond to all requests from the CSUMB Financial Aid Office as soon as possible.

Once your application has been reviewed, you will receive an electronic notification from the Financial Aid Office describing the types of financial aid for which you qualify. You should read this award notification carefully and contact the Campus Service Center if you have questions.

Financial Aid Office Deadlines

The Financial Aid Office observes the following deadlines:

Add/drop Deadline

Financial Aid will not be recalculated onto a student’s account if an enrollment change occurs after the Add/Drop deadline. The student is responsible for paying additional assessed fees.

SAP Deadline

Required documentation (SAP appeal, academic plan, ILP) and a SAP workshop must be completed before the SAP deadline established for each term. A SAP workshop schedule and SAP deadline will be published on the Financial Aid website every semester.

Consortium Agreement Deadline

Consortium Agreements will not be processed after the Add/Drop deadline. All required documentation must be submitted to the Financial Aid Office before the add/drop deadline. All adequate staff listed on the Consortium Agreement must sign and date documents.  All Consortium Agreements require a transcript of enrollment at host school once grades are posted at the end of the semester.

Census Date

Federal regulations mandate that CSUMB adjust financial aid for any student not enrolled as a full-time student on the last day of add/drop.  If a student drops units, this could result in a balance owed to the university.

Extension of Payment Deadline

Applying for Financial Aid does not guarantee an extension of housing, meal plan, or registration payment. To qualify for an extension of registration payment, students must have accepted enough financial aid to cover their balance owed or paid the difference between what is owed and their financial aid. This fee payment extension expires, and all outstanding charges are due when all financial aid awards are disbursed to your student account, but no later than each semester’s add/drop date. If university charges are outstanding after these deadlines, late charges will be assessed, and holds will be placed on your student record.

Grants, Scholarship, Loans & More

Grants

Grants are based on financial need and do not have to be repaid. If you withdraw from the university during a term, you may have to repay a portion of your award of financial aid assistance.

Federal Pell Grant

The Federal Pell Grant is available to students pursuing their first undergraduate degree and certain credentials. Award amounts range and are prorated for students enrolled less than full-time.

Federal Supplemental Educational Opportunity Grant

The FSEOG is for undergraduate students with exceptional financial need, pursuing their first degree, and demonstrating eligibility for the Federal Pell Grant. 

TEACH Grant

Through the College Cost Reduction and Access Act of 2007, Congress created the Teacher Education Assistance for College and Higher Education (TEACH) Grant Program that provides grants of up to $4,000 per year to students who intend to teach in a public or private elementary or secondary school that serves students from low-income families. To qualify for the TEACH grant, a student must fill out a FAFSA and an Agreement to Serve on the TEACH website. At CSUMB, TEACH grants are available only to students fully admitted into certain teaching credential or graduate programs. Be aware that a federal TEACH grant will be converted into an unsubsidized Direct Loan if the recipient fails to meet all the requirements in the TEACH Grant Agreement to Serve. Interest will be calculated retroactively based on the grant disbursement dates. Interested students are required to contact their Financial Aid Counselor to determine eligibility.

Educational Opportunity Program Grant

The EOP grant is available to undergraduate students admitted to CSUMB through EOP. Due to limited state funds, not all EOP students receive EOP grants.

Cal Grants A, B, T

The State of California provides grants to undergraduate and teacher credential candidates who are California residents to pay registration fees. Initial awards are based on financial need, grade point average, and year in school. Renewal awards are based on financial need and satisfactory academic progress.

Cal Grant A initial awards are available to undergraduate students. This award pays state fees. Grants are renewable through the fourth year of college as a first-time freshman or two years as a transfer students and for the teacher credential program.

Cal Grant B initial awards provide a stipend of $1,551 for first bachelor’s degree students demonstrating high financial need and academic merit. Renewal Cal B awards include both a fee payment and a stipend.

Cal Grant T awards are provided to students who will enter the Teacher Credential Program in the Fall semester. Students with renewable Cal A or B awards are not eligible for Cal T. 

The California Student Aid Commission (CSAC) notifies recipients of California State Grants in writing in early summer.

State University Grant

State University Grants (SUG) are intended for students who are residents of California. Priority is given to students who have a Student Aid Index (SAI) of 400 or less. Students receiving a fee payment from other programs, such as California Vet Fee Waiver, Vocational Rehabilitation, Over 60s, and Cal Grant A and B, are not eligible to receive this grant.

Scholarships

Scholarships are a form of financial aid that help pay for your education. Unlike loans, you do not need to repay scholarships. CSUMB administers at least 65 prestigious scholarships ranging from $300 to $10,000 per academic year. CSUMB scholarships are awarded based on academic achievement, leadership, and community service. A separate application is required in order to be considered for a scholarship. Please visit the Financial Aid Office Scholarship Website for more details.

Work Study

Federal Work Study

Federal Work Study is a federal employment program that places students in campus jobs. You may work up to 20 hours per week. Priority for FWS is given to students demonstrating the highest financial need. Employment opportunities include community service. Apply for financial aid by the priority filing deadline, May 2.

Loans

Federal Loans are a type of financial aid that must be repaid, generally after the student graduates or drops below 1/2 time enrollment. Unsubsidized and GRAD PLUS/PLUS loans accrue interest when funds are disbursed to the student. Loan limits, interest rates, and repayment terms are subject to change yearly.

Federal Direct Loan Program

Via the Federal Direct Lending program, the Department of Education acts as a lender, providing funds for Subsidized, Unsubsidized, GRAD PLUS, and PLUS loans.

Federal Direct Loans are available to students whose cost of attendance has not been fully met through other aid. Payments may be deferred during enrollment. To be eligible and retain deferred status, a student must be enrolled in at least six credits of undergraduate/teaching credential or four credits of master’s degree coursework.  Loan funds cannot be released if you have dropped below half-time status, and have not made satisfactory progress, or have any university holds.

Types of Direct Loans:

The Subsidized Loan is available only to students with financial need. The federal government will pay the interest rate when recipients are in school (enrolled half-time or more).  Repayment of interest and principal begins six months after the student is no longer enrolled at least half-time or drops below half-time status. 

The Unsubsidized Loan has the same repayment terms as the Subsidized Loan; however, the federal government does not pay the interest while students are in school. Consequently, interest is billed onto the loan beginning the 1st day of disbursement. Payments may be deferred, but the interest accrued while you are in school is added to the amount borrowed.

The federal government has set the following annual limits for Subsidized and Unsubsidized Loans:

  • Freshman (0-29 earned credits) ~ $3,500
  • Sophomore (30-59 earned credits) ~ $4,500
  • Junior, Senior, and Teaching Credential (60+ earned credits) ~ $5,500
  • Graduate Student ~ $8,500

In addition to the loan amounts above, if you qualify as independent, you may also borrow an additional Unsubsidized Loan. Eligibility is limited by the amount of your cost of attendance and is determined by subtracting any financial aid resources received from your education costs. If an undergraduate student graduates in December, you are also limited to prorated amounts based on the number of credits for which you are enrolled.

The annual loan limits for the additional Unsubsidized Loan are:

  • Freshman (0-29 earned credits) ~ $6,000
  • Sophomore (30-59 earned credits) ~ $6,000
  • Junior, Senior (60+ earned credits) ~ $7,000
  • Second Bachelor’s Degree and Teaching Credential ~ $7,000
  • Graduate Student ~ $12,000

The aggregate limits for dependent undergraduates are: $31,000 (no more than $23,000 of which can be subsidized). The aggregate limits for independent undergraduates, second bachelor’s, and teaching credential programs are $57,500 (no more than $23,000 of which can be subsidized). The aggregate limits for graduate degree-seeking students (including amounts borrowed for undergraduate study) is $138,500 (no more than $65,500 of which can be subsidized).

Dependent students are not eligible for additional unsubsidized loans unless their parent/guardian applies for and is denied the PLUS loan (see below).

Disbursement of Loan Funds

If your award includes a loan that you wish to accept, you must log onto your OASIS account to accept your loan. If you are a first-time borrower, the federal government requires that you complete Loan Entrance counseling and a Master Promissory Note before receiving your first loan disbursement. You can complete the mandatory loan entrance counseling on the studentaid.gov website.

Exit loan counseling is also required for all Direct Loan borrowers. You must contact the Financial Aid Office within 30 days of graduating, withdrawing, or dropping below half-time status and completing exit counseling on the direct lending website.

All loans are issued in two disbursements if you are enrolled for the full year.  The second disbursement will be released at the beginning of the spring semester.  However,  you will get one disbursement if you are enrolled for one semester.

If applicable, Direct Loan funds may be used to pay any outstanding charges owed to the university, including registration fees, tuition, housing, and miscellaneous charges.

Parent Loan for Undergraduate Students

PLUS Loans are available to parents of dependent students. The interest rate changes from year to year.

Repayment begins 60 days after the loan is fully disbursed. The minimum monthly payment is $50 and the repayment period is 10 years, except that borrowers with balances over $30,000 can receive a repayment period of up to 25 years.

PLUS amounts are determined by subtracting all financial aid awarded from the student budget. All parent borrowers must undergo a credit check, which can be denied if an adverse credit history is found. However, most resolved credit issues are disregarded. If approved, all PLUS funds are sent to CSUMB in two disbursements and are made payable to the student. Loan funds cannot be released if the student has dropped below half-time status, has not made satisfactory academic progress, or has any university holds. PLUS funds may be used to pay any outstanding charges owed to the university including registration fees, tuition, housing, and miscellaneous charges.

Parents must complete a PLUS loan application available under the Forms section of the Financial Aid website.

Alternative Loans

Private loans are funded by banks and other private lending institutions. For some, these loans bridge the gap between the cost of their education and the amount the government allows students/parents to borrow through federal loan programs (Subsidized, Unsubsidized, and Parent/Grad PLUS). Terms and conditions are generally not as favorable as those for federal loans; however, we understand that private educational loans provide essential financial assistance for many of our students.

Veteran Benefits

If eligible for educational benefits through the Veterans Administration, you may receive benefits for enrollment in VA-approved degree programs offered at CSUMB. Once admitted to CSUMB you must file a Request to Initiate VA Benefits form with the campus VA Certifying Official. The State of California offers a fee waiver program for dependents of service-connected disabled and deceased veterans. More information and the official application may be obtained by contacting your local county veteran services office.

Other Awards

Your award letter may also include other awards that have been reported to the CSUMB Financial Aid Office. Examples include scholarships from private donors, California Veteran fee waivers, and Vocational Rehabilitation compensation. 

Maintaining Your Financial Aid

In order to be reconsidered for financial aid each year, you must do all of the following:

  • Reapply using the FAFSA or Renewal FAFSA.
  • Continue to demonstrate financial need.
  • Make academic progress toward a degree at CSUMB.
  • Enroll at least half-time each semester at CSUMB.
  • It is the student’s responsibility to re-apply for Financial Aid each academic year.
  • Students must meet priority deadlines to maximize eligibility for limited fund sources.

Maintaining Satisfactory Academic Progress

In order to maintain financial aid eligibility, you must make Satisfactory Academic Progress toward obtaining a degree. Satisfactory Academic Progress (SAP) will be monitored for all enrollment periods whether or not you have received financial aid. The minimum standard requirements are

  1. Maintaining a 2.0 GPA as an undergraduate/teaching credential student or a 3.0 GPA as a graduate student;
  2. Meeting the unit completion requirements for your enrollment status; and,
  3. Not exceeding the maximum time frame for your program.

Students are evaluated on their SAP 30 days after the start of the term. The first time a student fails to make satisfactory academic progress, they will be placed on financial aid warning.

Students who do not meet minimum standard requirements at the end of their warning semester will be placed on financial aid probation for the next semester. Also, any student who does not complete any units in a semester will be on financial aid probation.

Continued failure to meet the requirements will result in a loss of eligibility for future financial aid.

Minimum Standard Requirements

Qualitative Measure (Cumulative GPA)

Undergraduate and credential-seeking students must maintain a cumulative grade point average of 2.0 (equivalent to C average) in all college work attempted. Complete grades are A, B, C, D, and CR.

Grades of C and above count positively toward progress to degree.

Grades of C-, D, D+, and D- may count as units earned for the purposes of financial aid, but may not meet academic program requirements.

Grades of F, I, W, WU, NC, RP, RD, and AU are not considered passing and may affect a student’s eligibility for financial aid.

Graduate and post-baccalaureate certificate students must maintain a University and cumulative grade point average of 3.0 (equivalent to a B average) in all college work attempted. Complete grades are A, B, C, and CR.

Grades of B and above count positively toward progress to degree.

Grades of B-, C+, C, C-, D+, D, and D- may count as units earned for the purposes of financial aid, but may not meet academic program requirements.

Grades of F, I, W, WU, NC, RP, RD, and AU are not considered passing and may affect a student’s eligibility for financial aid.

Quantitative Measure (Unit Progression)

You must complete at least 67 percent of the units attempted each semester to remain on track. Unit progression will be based on a cumulative total of attempted units to earned units. For example, a full-time undergraduate student who attempts 24 units in an academic year must complete at least 16 units.

Maximum Time-frame to Complete Degree

The maximum allowable time frame for receiving aid is equal to 150 percent of the length of your academic program.

If you are a transfer student, your accepted transfer coursework will be counted in the maximum time frame.

Repeated courses and Withdrawals are counted as “units attempted” and will be counted in the maximum time frame.

Required remedial coursework will not be counted toward your maximum time frame (up to 30 units).

Undergraduate Enrollment Status

  • Full time ~ 12 or more undergraduate units
  • Three-quarter time ~ 9 to 11 undergraduate units
  • Half time ~ 6 to 8 undergraduate units
  • Less than half time ~ 1 to 5 undergraduate units

Graduate Enrollment Status

  • Full time ~ 8 or more units
  • Three-quarter time ~ 6 to 7 units
  • Half time ~ 4 to 5 units
  • Less than half time ~ 1 to 3 units

Financial Aid Warning

Students who have not met the minimum standard requirements will be placed on financial aid warning status. Any student receiving financial aid for the first time who fails to meet any one of the SAP criteria will enter financial aid warning status for their semester of enrollment.

You are still eligible for financial aid consideration while on warning.

Students on warning will be required to attend a Satisfactory Academic Progress Workshop and complete a quiz before funds are released for the following semester.

Students who do not meet minimum standard requirements at the end of their warning semester will be placed on financial aid probation for the next semester. Also, any student who does not complete any units in a semester will be on financial aid probation.

Financial Aid Probation

If the Financial Aid Office determines that you have not met the minimum standard requirements, following your warning semester, you will be placed on financial aid probation. You are not eligible for any financial aid assistance while on financial aid probation.

Students on financial aid probation and who wish to be reconsidered for financial aid will be required to attend a Satisfactory Academic Progress Workshop and complete the appeals process.

Reinstatement

If you maintain satisfactory academic progress without financial aid for one academic year (completing at least 12 units total), you may be eligible for reinstatement and regain eligibility for financial aid; however, you must complete the appeals process.

Students placed on financial aid probation for exceeding the maximum time frame are ineligible for reinstatement and can only regain financial aid eligibility through the appeal process.

Appeal Process

Students who wish to be reconsidered for financial aid may appeal their financial aid SAP status. The appeal form is available on the Forms page of Financial Aid website.

Required items/steps include:

  • Attend a SAP Workshop no later than 30 days after the first day of classes;
  • Complete the SAP quiz on Canvas
  • Complete the Satisfactory Academic Progress Appeals Form. You may include an explanation of any extenuating circumstances that prevented you from maintaining SAP and what steps you have begun or completed to allow you to become successful in your education program. You should plan to include supporting documentation for any claims you make in the explanation; and,
  • Create or revise an Individual Learning Plan (ILP) that is signed by an academic advisor.

The appeal will be reviewed by a Financial Aid Appeals Committee. You will be notified of the result of your appeal by email or letter.

If approved, read the criteria set forth by the Appeals Committee. Failing to comply with the requirements will result in loss of financial aid in subsequent semesters.

If denied, you will be given guidance and a timeline for when you may appeal again.

The Appeals Committee’s decision is final.

Changes to Your Financial Aid Award

Financial aid award revisions will be made in the following cases:

  • If you receive additional resources such as scholarships, Cal Grants, or stipends
  • If you reduce unit enrollment below full-time
  • If you withdraw from all courses
  • If your appeal for revision is granted

Withdrawal from Courses

Title IV recipients who withdraw from CSUMB will be subject to repayment of a portion of awarded funds. Responsibility for repayment will be shared by CSUMB and the student.

Financial Aid recipients who withdraw must repay any unearned portion of aid received for the term attended. The portion of unearned Title IV funds will be calculated by the Financial Aid office. The amount is based on the number of days completed divided by the number of calendar days in the term. Breaks in enrollment of five or more consecutive calendar days are excluded from the number in the term. No repayment of Title IV funds will be required for withdrawals occurring after the 60% point of the term. After determining the amounts of aid to be refunded or repaid, the funds must be distributed back to financial aid according to a specific order of priority prescribed in federal regulations. The order of distribution is federal loans; federal grants; and then other federal, state, or institutional aid.

Registration fees will be fully refunded for courses dropped prior to the first day of instruction. Additional information is available upon request from the Financial Aid Office.

Date of Withdrawal

The date of withdrawal is the date you begin the withdrawal process, or the date you established contact with the Office of the Registrar regarding your intent to withdraw.

Post-withdrawal Disbursements

Post-withdrawal disbursement determination will be made by the Financial Aid Office and coordinated for credit or repayment with the Office of the Registrar. Unearned Title IV Aid will be returned to their source in the following order:

  1. Federal Perkins Loan
  2. Federal PLUS Loan
  3. Unsubsidized Federal Loan
  4. Subsidized Federal Loan
  5. Federal SEOG Grant
  6. Federal Pell Grant

Unofficial Withdrawal

CSUMB must calculate the amount of Return to Title IV funds based on the last day of enrollment if a student fails to earn a passing grade in at least one class. In cases where the last day of attendance cannot be determined, CSUMB may use the period’s midpoint (in lieu of an official withdrawal) as documentation of the student’s last day of attendance.  Unless the student can provide acceptable documentation that shows the student was enrolled more than 60 percent of the semester, the student will be responsible for returning unearned funds. The student will be notified of the responsibility to repay unearned funds to the appropriate program and/or CSUMB.

Student Appeal for Revision

If your extenuating financial circumstances warrant a review of your financial aid, you may choose to appeal. Please contact the Financial Aid Office if you have any questions regarding these appeals.