sStudent loans continue to be a topic of cross interest United States of America. As the year draws to a close, it is estimated that total student debt in the United States is approximately $1.6 trillion owed by more than 43 million borrowers.
In fact, earlier this year President Joe Biden He announced a plan for student loan forgiveness that would settle up to $10,000 in debt for those earning less than $125,000 a year.
Furthermore, those who receive Pell grants are entitled to a total of $20,000 in debt forgiveness.
However, the plan was eventually shelved after an injunction by a Texas judge, with the initiative’s validity now being debated by the Supreme Court.
Fortunately, there are many other schemes that one can take advantage of to reduce the burden of tuition fees, California residents can also benefit from Cal Grants Program Provided that you meet the required eligibility criteria.
What is a Cal Scholarship?
Awarded by the California Student Aid Commission (CSAC), Cal Grants offer California high school students an opportunity to reduce their education costs by awarding them a grant.
These grants, unlike student loans, don’t need to be paid back, so this is a great boost.
Who qualifies for Cal Grants?
Below is a list of the criteria needed to be eligible for a Cal Grant, according to the CalState website.
- Be a US citizen or eligible non-citizen or AB 540 qualified
- Be a California resident at the time of high school graduation and at the time you receive a Cal Grant or eligible AB 540 student
- Meet US Selective Service requirements (male)
- Enroll in and attend a California school that is eligible for the Cal Grant program
- Maintain registration status at least half the time
- Have financial need at an eligible California school
- Maintain satisfactory academic progress as determined by the school
- Be in a program leading to an associate degree or certificate
- Not have obtained a bachelor’s degree or a higher degree (such as a master’s degree) or its equivalent
- The income of the parents or the student should not exceed the ceiling of the assets
- You don’t owe a refund on any state or federal educational grant or have defaulted on a student loan
- not be locked up
What are the types of Cal Scholarships?
In total, there are four different types of scholarships available to students. here they are:
- Cal Grant Award of Merit
- Cal Grant B. Merit Award
- Transfer Merit Award from Cal Grant California Community College
- Competitive Cal Grant A and B award
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