The California Middle Class Scholarship Southern San Joaquin Valley - PowerPoint PPT Presentation

The California Middle Class Scholarship Southern San Joaquin Valley Cal-SOAP Consortium

The California Middle Class Scholarship Starts in 2014-2015 for undergraduate students who are:  Attending a CSU or UC campus (Current, Incoming First Time Freshmen and Transfer)  From families with income less than $150k  U.S. citizens, permanent residents or AB 540  Not incarcerated  California residents

The California Middle Class Scholarship Students must also:  Maintain a 2.0 GPA  “Meet certain income and other financial aid standards”

The California Middle Class Scholarship How do students apply?  FAFSA  Dream Act application How much can students get?  Up to 40% of system-wide fees (based on income)… phased in over a 4-year period.

The California Middle Class Scholarship How much can students receive when it’s fully implemented?  Up to 40% of mandatory system-wide fees for students whose annual family income is up to $100,000  No less than 10% of mandatory system-wide fees for students whose annual family income is between $100,001 and $150,000

MCS – The Rollout  Based on CSU system-wide fees of $5,472, 40% would be $2,188. Over the next 4 years…: Year % of 40% Maximum Award 2014-2015 35% $ 766 2015-2016 50% $ 1,094 2016-2017 75% $ 1,641 2017-2018 100% $ 2,188

MCS – The Rollout  Based on UC system-wide fees of $13,200, 40% would be $5,280. Over the next 4 years…: Year % of 40% Maximum Award 2014-2015 35% $ 1,848 2015-2016 50% $ 2,640 2016-2017 75% $ 3,960 2017-2018 100% $ 5,280

MCS – The Rollout  The MCS is not a set amount and may vary by student and by the UC or CSU.  The award amount will be determined after other awards (Pell Grant, Cal Grant, and institutional need-based grants) are made.

MCS – The Rollout  The final award amount will also be based on the number of students that are eligible for the Middle Class Scholarship and the amount of funding allocated by the State Budget.

MCS - Timeline  The FAFSA or California Dream Act applications must be completed by March 2 nd .  MCS may not be initially included in the original Student Financial Aid Award Letter due to set processing cycle (i.e. CSU’s National Letter of Intent Day is May 1 st . MCS awards will be added in July).