Assisting students in receiving a college education
There is not just one form of financial aid.
Below is listed the various types. Please takes some time research all that is available to you:
For eligible California residents, the Board of Governor's Fee Waiver (BOGFW) assists students with mandatory enrollment fees for the entire academic year (Summer, fall, and spring semesters) and does not waive any optional fees like the student union fee. There is no limit to the number of units that are covered by the BOGFW. (Assistance for the purchase of books and supplies must be applied for separately at www.fafsa.gov and with the EOPS Office). If you have applied for and are eligible to receive the BOGFW after you have paid your enrollment fees, you will receive a refund of those enrollment fees.
Please Note: If the Admissions and Records Office determines you have AB540 status, this status does not grant residency, it simply exempts you from paying non-resident fees. This exemption will not allow you eligibility for a Board of Governor's Fee Waiver (BOGFW). For more information regarding AB540, click the following link: AB540
To find out about the California Dream act please visit the CA Dream Act web page.
The Title IV program consists of grants and loans. Federal grants do not have to be repaid.
Title IV funds are awarded to a student under the assumption that they will attend school for the entire period for which the financial aid is awarded. When a student withdraws, the student may no longer be eligible for the full amount of Title IV funds that the student was originally scheduled to receive.
If a recipient of Title IV grant or loan funds withdraws from a school after beginning attendance, the amount of Title IV grant or loan assistance earned by the student must be determined. If the amount disbursed to you is greater than the amount you earned, unearned funds must be returned to the school. If the amount disbursed to you is less than the amount you earned and for which you are otherwise eligible, you are eligible to receive a post-withdrawal disbursement of the earned aid that was not received. The Office of Financial Aid will contact you if you meet one of the R2T4 situations above.
Cal Grant awards are state funded monetary grants given to students to help pay for college expenses. The awards do not have to be repaid. If you are a California graduating high school senior or recent graduate, or just got your GED, and meet academic, financial and eligibility requirements and submit two forms by the Cal Grant deadline then you may qualify for a Cal Grant for college or career or technical school.
To find out more about the Cal Grant Programs, please click on the link below:
The Pell Grant program is an entitlement award and the largest federal grant program available for college students. Awards are based upon students need as determined by the Department of Education. Students may receive up to $5,730 per academic year. Students may only receive a Pell grant from one institution per term.
Students who attend the summer 2015 semester at Los Medanos College (LMC) may qualify for assistance to help pay for educational expenses. To be considered for a summer 2015 Federal Pell Grant, students must have applied for the 2014 - 2015 academic year and complete the following steps:
NOTE: Students who have remaining eligibility and are enrolled less than half time will only be paid the award amount of the remaining eligibility.
The Federal Supplemental Educational Opportunity Grant (SEOG) is awarded to students who receive a Pell grant and demonstrate the highest need. Due to limited funding from the Department of Education, priority is given to full-time students who meet the March 2nd deadline. Awards range from $600 - $1,000 per academic year.
Loans are funds that you must repay. The Federal Loan programs offer a secure, government-regulated and reasonably affordable way to invest in yourself and your goal of a higher education. Even though some loans are based on financial need, there are programs available to all federally eligible students regardless of income.
Federal Direct loans are funds you must repay; they are available to eligible students who experience exceptional financial need and hardship. There are two types of Federal Direct loans, Subsidized Federal Direct loans, funds for which the federal government pays the interest while you are attending school at least half-time at an accredited institution and Unsubsidized Federal Direct loans are loans which are very similar to the subsidized loan with the exception that the student pays both principal and interest. See interest rates: Interest-rate
|Federal Stafford Loan Limits:||Subsidized||Unsubsidized|
|Freshman||$3,500||$6,000 (Independent students)|
|Sophomore||$4,500||$6,000 (Independent students)|
Federal Direct PLUS Loans are loans offered to parents of dependent students. Parents may borrow up to cost of attendance minus any other aid awarded to the student. PLUS loans are assessed with an origination fee of 3.5% and are repaid with a fixed interest rate of 8.5%.
Direct Loan Statutory Limit a first-time borrower's eligibility
Direct Subsidized Loans to a period not to exceed 150 percent of the length of the borrower’s educational program (“the 150% limit”). Under certain conditions, the provision also causes first-time borrowers who have exceeded the 150 percent limit to lose the interest subsidy on their Direct Subsidized Loans.
Direct Loan Grace Period Interest Subsidy
Effective July 1, 2012, students with Direct Subsidized Loans originated/disbursed after July 1, 2012 and before July 1, 2014 will be responsible for payment of interest accrued during the six month grace period.
Steps to Apply for a Federal Direct Loan
In order to complete the necessary steps to obtain a Direct Loan through the Direct Loan Website, you will need your PIN number issued to you by the Department of Education (your FAFSA PIN NUMBER).
Visit the Office of Financial Aid to get pre-screened for a Direct Loan. During pre-screening, a Financial Aid Staff member will determine if you are potentially eligible for a Direct Loan (ready to start the application process). If so, you will be assigned to attend a Direct Loan workshop.
Attend the Direct Loan Workshop and you will receive the Direct Loan Request Form at the end of the workshop.
Complete the Direct Loan Request form, Entrance Counseling Exam AND the Master Promissory Note at www.studentloans.gov For the Entrance Counseling Exam, all students must achieve a 100% on the exam before a loan can be disbursed. Please be sure to read all information pertaining to the Federal Direct Loan Program carefully.
* You do not need to submit a copy of the entrance exam or Master promissory note to us. We will receive electronic notification that you have completed the entrance exam and Master promissory note from the Department of Education.
Attention Continuing Students: A new Master Promissory Note & Online Entrance Counseling is required each academic year.
Submit the completed Direct Loan Request Form AND Educational Plan (must be archived by LMC Academic counselor). Please review your Direct Loan Check List before you submit above items.
PLEASE NOTE: The Office of Financial Aid will originate your loan based upon the information from your Loan Request Form. The amount that you requested may not be the amount we certify. However, we will make every effort to accommodate your needs as there are some factors which affect loan eligibility, such as financial need, year in school and the amount previously borrowed. If you have an aggregate Direct Loan balance of $10,000 or more with the Department of Education, you will be required to make an appointment to meet with a Financial Aid Coordinator for further counseling.
When your loan has been certified you will receive an email notification with instructions regarding completion of your Exit counseling exam prior to your second disbursement.
Exit Counseling for Federal Education Loans
Federal law requires students who borrow from the Federal Stafford loan programs to undergo exit counseling when the student graduates, withdraws or drops below half-time enrollment. **Exit counseling is required even if the student plans to transfer to another college or university.
Online Exit counseling is available at: StudentLoans.gov website.
Scholarships variety of sources. Scholarships typically do not have to be repaid. Many scholarships are extremely competitive, so start researching early.
Visit the Scholarships website to learn more.
The Employment Center at LMC provides job placement assistance to all LMC students and alumni. We assist employers to obtain qualified employees and train students in competitive self-referral research of positions directly related to their areas of academic preparation. Visit the Employment Center website to learn more.
The Federal Work-Study program provides part-time employment on campus to eligible students. Priority is given to students who demonstrate the highest need as defined by the Department of Education and who meet the March 2nd deadline date. The advantage of a work-study job is the convenience of working on campus and the opportunity to become a part of the campus community. Awards are based on unmet need and availability of funds. An award ranges up to $2,500 per academic year. Interested students should contact the Federal Work-Study Coordinator in the Office of Financial Aid for further consideration.