Cal Grant B Should I put on reserve or cash in it now?

[cal00712]

<p>Im a first yr student at a CCC. Started in August 2010. Now I still havent received my cal grant B check for this yr and the financial aid office said that I can still put it on reserve. They tried to explain to me the pros and cons but Im still confused. I'll be transferring to a UC or USC in two yrs so is it better to put it on reserve?? I dont really need the money now anyway and its only about $1500 this first yr...</p>

<p>Any help is appreciated! Thanks!</p>

[cal00712]

<p>Bump! Anyone?</p>

[cal00712]

<p>Bump…</p>

[swimcatsmom]

<p>I don’t think any of us have a clue what putting the calgrant on reserve means.</p>

[Kender]

<p>Putting a Cal Grant on reserve is pretty much what it sounds like:</p>

<p>

Community College Reserve Grant</p>

<p>If you receive a Cal Grant A but attend a California Community College first, your award will be reserved for up to three years until you transfer to a four-year college, if you continue to qualify. If you list a California Community College before a four-year California college on your FAFSA, it will be assumed the community college is your first choice. If you receive a Cal Grant A, it will be placed in reserve for your first year unless you transfer to a tuition or fee-charging college and activate your award. When you transfer, be sure to let your school know you have a reserve grant.

</p>

<p>[California</a> Student Aid Commission - Cal Grant A *](<a href=“http://www.csac.ca.gov/doc.asp?id=105]California”>http://www.csac.ca.gov/doc.asp?id=105)</p>

<p>OP: From how Cal Grant has been explained to me and my understanding of the documents, you will only get the $1,551 living assistance amount with Cal Grant B while at a CCC (Cal Grant A would get nothing). There is no tuition or fee assistance you would be receiving.</p>

<p>The only reason I see to put Cal Grant B on reserve (since Cal Grant A is automatically put on reserve) is if there is any chance you will be staying at a CCC for more than two years. If you are there three years and your grant is not on reserve, then you will lose your third year of eligibility before you have even transferred to an institution where you can make use of the tuition/fee assistance. Be careful if you take summer classes that Cal Grant is not applied during this time, by the way. It eats at your eligibility.</p>

<p>I would put it on reserve unless you are absolutely 100% positive you will transfer within two years.</p>

[cal00712]

<p>Thanks Kender. Since there is no tuition or fee assistance, wouldnt it be better to save it for UCLA or USC in two yrs so it would help my tuition and fees? How long is the Cal Grant eligible for? 4 yrs right?</p>

<p>Im 100% sure Im not staying 3 yrs.</p>

[Kender]

<p>Cal Grant if used from freshman year and onwards is worth four years of tuition/fee assistance (Cal Grant B has the interesting “hiccup” with only living assistance freshman year, but the tuition/fee assistance is usually made up by the school that first year). Sometimes it’s better to view this as 8 semesters or 12 quarters because you can place it on hold if you take a leave of absence from school.</p>

<p>However, by transferring junior year (sophomore transfers are rare), you will only have two years (4 semesters/6 quarters) of eligibility remaining. This is whether you put it on hold or not. If you do decide to not put it on hold and you take three years, then you will only have one year (2 semesters/3 quarters) of remaining eligibility. I wish it was four years even after transfer.</p>

<p>Although you are sure you will not be staying three years, even one semester/quarter over two years (or any Cal Grant aid dispersed during a summer or winter session) will reduce your remaining eligibility. Many are able to transfer within two years, but the CCC system is severely impacted. At my old CCC, we turned away around 2,000 students (these were students that were not able to even sign up for a single unit). Many more than that were stuck on waiting lists during the first couple weeks of classes starting.</p>

<p>If I were in a similar position as you, I would most likely place the award on hold just to be safe (remember you must remain eligible during the time it is on hold). However, I know that one has to need the money if one qualifies for Cal Grant B so I know that $1,551 would probably be a boon.</p>

<p>Something I’m not sure on is if you can place it on hold after it has already been dispersed for any other reason than a leave of absence… This would be something to ask your campus’ financial aid office. I know of being able to place awards on hold, but I do not know them in practice.</p>

[cal00712]

<p>Thanks Kender. So no matter what my grades are during college, its always gonna be a Cal grant B?</p>

[Kender]

<p>I’m confused by your post. Are you wanting to change to Cal Grant A? That is the only thing that comes to mind if you question GPA since Cal Grant A requires a higher GPA than Cal Grant B (but the latter requires much lower income and assets). You do realize Cal Grant B gives you more money, yes? This is more readily obvious as a transfer.</p>

<p>You must always meet the qualifications for Cal Grant to be eligible to continue receiving it. This applies while it is on hold and while you are receiving it.</p>

<p>

Renewing Your Cal Grant (A, B, and C)</p>

<p>Near the end of each school year, a Cal Grant Renewal letter, which indicates either your eligibility to renew your award or announces the end of your eligibility, is sent to you. To continue to receive your Cal Grant:
[ul][<em>]You must have financial need of at least $100 for the renewal year,
[</em>]You must have filed a current year FAFSA, listing your school of attendance,
[<em>]You must be attending a participating Cal Grant school,
[</em>]You must have remaining Cal Grant eligibility, and,
[li]CSAC must have received either a request for payment for all terms or a leave of absence (LOA) request.[/ul][/li]

</p>

<p><a href=“http://www.csac.ca.gov/pubs/forms/grnt_frm/ImportantfactsaboutyourrenewalCalGrant.pdf[/url]”>http://www.csac.ca.gov/pubs/forms/grnt_frm/ImportantfactsaboutyourrenewalCalGrant.pdf&lt;/a&gt;&lt;/p&gt;