Definitions - Transfer Financial Aid - Transfer Center

Free Application for Federal Student Aid (FAFSA)
Official financial aid application used to determine federal and state aid awards, both loans and grants. Many universities will not consider a student for institutional scholarships without them first having a completed FAFSA on file.
Financial Aid Determination
Each institution follows the same basic formula. Individual contributions, both from the student and their parents (for dependent students), are determined by information provided on the FAFSA application. Example: College Costs - Expected Family Contribution = need.
Money that is awarded and not expected to be repaid (a gift), usually based on need. Two types are available for students: Pell Grants (federal money) and CalGrants (state aid).
Cal Grant GPA Verification
Any student who has been enrolled at Ohlone College within the last five (5) years and has completed 16 or more degree applicable units will have their GPA (grade point average) information sent directly to the California Student Aid Commission. Reports are sent out twice per year, no later than March 2nd and September 2nd respectively.
Money available for students that will have to be repaid at some point. Direct Loans are awarded as either subsidized or unsubsidized.
Subsidized Loans
The federal government pays the interest while you are enrolled in college, as well as the six-month grace period after you graduate, leave school or enroll less than half time. Based solely on need.
Unsubsidized Loans
You are responsible for paying all interest on the loan, during college and after. Payment of interest can be deferred while you are attending school, but will be added to the amount borrowed when repayment begins and future interest amounts will be based on the higher loan amount.
Money available, typically through an application, that is awarded based on a variety of criteria (major, grades, gender, interests/talent, volunteerism, heritage, etc.). Scholarships do not need to be repaid. Students should not pay money to access scholarship opportunities!!