What is Financial Aid?
Financial aid is money that is given, paid or loaned on your behalf to assist you in paying for college. Be aware that financial aid will not cover all your education expenses and it is the student’s responsibility to budget properly for the academic year, with or without financial aid.
- Federal Pell Grant
- Federal Supplemental Education Opportunity Grant (SEOG)
- Dream Act
- Cal Grant
- Full-Time Student Success Grant (FTSSG)
- Student with Dependent Children Grant (SWD)
- Federal Direct Loans
- Federal Work-Study
- California College Promise Grant (CCPG) (formerly known as Board of Governor’s Fee Waiver BOG) only applies to enrollment fee.
Note that the CCPG is not a cash award, does not cover other educational expenses, and needs to be completed prior to the semester ending.
Basic Federal Eligibility
To receive and maintain eligibility for financial aid, a student must:
- be accepted at MPC for admission;
- be enrolled in an eligible program leading to a degree or certificate;
- be in good academic standing;
- demonstrate financial need;
- be a U.S. citizen or eligible non-citizen;
- not be in default on any federal loan or in repayment of a federal grant;
- have a valid Social Security Number;
- have earned a high school diploma, General Education Development GED), or California High School Proficiency Examination.
Deadlines to Apply for Financial Aid
Financial Aid is processed throughout the academic year. Some financial aid is on a first come, first served basis and it is highly encouraged to apply as soon as you can.
FAFSA and the Dream Act is available starting October 1st every year prior to the academic year applying for and closes June 30th at the end of the academic year. The priority deadline is March 2nd for both.
Cal Grant has a GPA Verification form that must be submitted to the Financial Aid Office by close of business on March 2nd and the Competitive Grant by close of business on September 2nd.
Steps to Receive Financial Aid at MPC
To be considered for financial aid at Monterey Peninsula College, a student must:
- Complete your FAFSA online at https://fsaid.ed.gov/ or the California Dream Act at www.csac.ca.gov (MPC’s Federal School Code 001242).
- Activate your MPC email account.
- Complete your financial aid file, by checking “My Financial Aid Portal” at https://myfinancialaid.mpc.edu/NetPartnerStudent/Logon.aspx (accessed after FAFSA is loaded into our system and you have been admitted).
- Optional, request an official transcript(s) from all prior college(s) (unless the Department of Education requires us to verify prior colleges attended).
- If you would like to take out a Direct Student Loan, you will need to complete the steps found on your “My Financial Aid Portal”, Menu, Awards/Budgets, in the Loans section.
- Track your financial aid process on “My Financial Aid Portal” to verify that your file has been completed.
Satisfactory Academic Progress
In order for students to be eligible for financial aid, MPC requires students maintain financial aid Satisfactory Academic Progress (SAP) while enrolled in a course of study leading to a certificate, associate degree, or transfer program to a four year institution, whether or not financial aid was received during previous enrollment periods. SAP is monitored at the end of every semester/session. The following is considered when determining if students are maintaining SAP during the payment period:
- Cumulative Grade Point Average (CGPA): of at least a 2.0 (C average).
- Cumulative Pace of Progression (CPP): must complete a minimum of 2/3 of the units attempted/enrolled Cumulative Pace Progression (CPP).
- 150% Maximum Time Frame: Students are required to complete their program of study (major) within the maximum time frame as described in the MPC College Catalog. All courses attempted are included when computing the 150% units attempted.