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Financial Aid Programs

State of California Financial Aid Programs
You must complete the Free Application for Federal Student Aid (FAFSA) to apply for the following state programs. You must be a U.S. citizen or an eligible noncitizen and a resident of California to be eligible for State aid. If you are in default on a student loan or owe a refund on a federal grant, you are ineligible for state aid other than the BOGW program.

Board of Governors Waiver Program (BOGW)

If you do not have a Student ID, you will need to complete the online Enrollment Application with the Admissions and Records Office.  For more information click on How to Apply.

Attention Students
: BOG Fee Waivers will no longer be processed in person. You MUST complete a BOGFW online. Please allow 24-48 hours for your BOGFW to be processed. You will receive a confirmation email when your fee waiver has been processed. If you have already completed a BOGFW for the 2015-2016 academic year you DO NOT have to complete another fee waiver. Once your BOGFW has been processed, it will remain active until 06/30/2016. BOGFW applications MUST BE renewed annually. If you have ALREADY COMPLETED a BOGFW and did not qualify do not complete another application as this will result in a duplicate, and will NOT BE PROCESSED.

 If you DO NOT QUALIFY for a BOGFW because your income or parent income is over the ceiling stated in the table below, you may still qualify for a BOGFW through FAFSA. Please read instruction located under “How to Apply" for instructions on completing a BOGFW through FAFSA.


BOGFW Online Application

This is the most popular financial aid program at IVC. It waives enrollment fees for eligible residents of California. For best results, apply several months before you plan to register for classes. Examples of eligible family size and income are:


Number in Household 2014 Income Ceiling
1 $17,505
2 $23,595
3 $29,295
4 $35,685
5 $41,865
6 $47,955
7 $54,045
8 $60,135
Each additional family member $6,090


If you have already registered and paid your fees, you can still apply for a BOGW. If you are eligible for the waiver, you can then request a refund of your enrollment fees (but only for the semester in which you apply).

Note: IVC prefers to use the FAFSA to determine eligibility for the BOGW. We use the BOGFW application also. We prefer the FAFSA because more students qualify for the fee waiver using the federal eligibility index number than would qualify if we were to use the more restrictive guidelines on the shorter state BOGFW application.

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Extended Opportunity Programs and Services (EOPS)
EOPS is a state-funded program for students who are financially and educationally disadvantaged. You must be a full-time student (12 or more units), have completed less than 70 units (at all colleges attended combined) and have exceptional need to participate in this program. Among the services provided are a student grant program and a work-study program. Funding is limited. You must complete the FAFSA as well as a separate EOPS application to apply. See the EOPS website, or stop by or call the Supportive Services Office, SSC 220, 949-451-5243, for more information.

Federal Student Financial Aid Programs
You must complete the Free Application for Federal Student Aid (FAFSA) to apply for any of the programs discussed below. You must be a U.S citizen or an eligible noncitizen to be eligible for aid. If you are in default on a student loan or owe a refund on a federal grant, you are not eligible for federal student aid.

Federal Pell Grant
This federally funded program provides grants to needy undergraduates who have not already received a bachelor's degree. The maximum award for the 2014-2015 year is $5,730.

Actual award amounts vary according to the student's eligibility index number and enrollment status (the eligibility index number is calculated using the federally mandated formula and the information on the FAFSA).

We recommend that students apply for 2014/2015 as soon as possible. Applications for financial aid are available every January of the new year. You may, however, apply any time before the end of June 2015 (the federal processor must receive your application by June 30, 2015).

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(FSEOG) Federal Supplemental Educational Opportunity Grant
FSEOG is designed to help undergraduates who demonstrate exceptional need (according to the federal formula). You will automatically be considered for this grant if you complete the FAFSA. To receive FSEOG, you must be eligible for the Federal Pell Grant. Funding is extremely limited.

Federal Work-Study Program
This federal program funds part-time job opportunities for students with financial need (according to the federal formula) who are enrolled in at least 6 units at IVC. Funding is very limited. For information regarding work-study positions for the Fall 2014 semester, call the Financial Aid Office at 949-451-5287 after July 1, 2014.

Bureau of Indian Affairs Grants
If you are an American Indian student who can prove membership in a federally recognized tribe, you may be eligible for educational grants from the Federal Bureau of Indian Affairs (BIA). Applications for BIA Grants for California tribes are available from the Bureau's Office of Indian Education, 2800 Cottage Way, Sacramento, CA 95825.

Members of other tribes should contact the BIA area office that serves members of their tribes or contact their tribal education department.

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Federal Direct Loans
Federal Direct Subsidized and Unsubsidized Stafford Loans are long-term, low-interest loans from the U.S. Department of Education.
To apply for a Federal Direct Loan, you must complete Free Application For Federal Student Aid. Please note that there are other required steps in this process other than completing a FAFSA form. Please see Direct Loan Processing. 
The Subsidized Direct Loan is need-based. The federal government pays the interest on the loan during: (1) your enrollment in school in at least a half time basis, and (2) a deferment, which is a temporary, authorized time when your payments may be postponed.
The Unsubsidized Direct Loan is non-need-based. "Unsubsidized" means the federal government does not pay the interest on your behalf. You are responsible for paying all interest on the loan. Interest is charged beginning the day the loan is paid to you until the day the loan is repaid in full. You either may choose to pay the accumulated interest while you are in school, or to have the unpaid, interest capitalized, i.e., added to the principal balance of the loan. Note: If your loan interest is capitalized, it will increase the amount you have to repay.

Please Note: Irvine Valley College Does NOT participate in the Direct PLUS Loan Program.
Borrowing can be costly. We recommend you consider borrowing only if you have exhausted all other options.  Only borrow what you need. Make a budget for yourself to keep your debt within manageable limits.

Annual Loan Amounts
The amount in Direct Loan funds that you are eligible to borrow each academic year is limited by (1) your grade level (2) whether you are a dependent or an independent student, (3) your financial need, and (4) your cost of attendance. You cannot borrow more than your financial need or the cost of attendance (your budget.)



Dependent Student

Base Amount
(Subsidized or Unsubsidized)

Additional Unsubsidized Loan
effective July 1, 2008

Total Annual Combined Maximum Amount of Subsidized & Unsubsidized Loans

Freshman 1st year




Sophomore 2nd year





Independent Student

Base Amount
(Subsidized or Unsubsidized)

Additional Unsubsidized Loan
effective July 1, 2008

Total Annual Combined Maximum Amount of Subsidized & Unsubsidized Loans

Freshman 1st year




Sophomore 2nd year





Lifetime Aggregate Loan Limits
Undergraduate Dependent Students can borrow a maximum total of $31,000 (of which no more than $23,000 can be subsidized loans).
Undergraduate Independent Students can borrow a maximum total of $57,500 (of which no more than $23,000 can be subsidized loans).
Please note: For all new borrowers who receive a loan on or after July 1, 2013 a 150% limitation is in effect. This means a student who is eligible for a subsidized loan will reach their subsidized limit at 150% of a program's length of study. Once a student has reached their 150% limitation, their interest subsidy Loan limit will end on all outstanding loans that were disbursed after July 1, 2013, and interest will begin to accrue. Students are therefore encouraged to complete the undergraduate student on a timely basis.
Interest Rates:
For the Federal Direct Subsidized Student Loan, the federal government will pay the interest until you enter your grace period; Repayment begins six months after you cease to be enrolled in at least half-time status. the interest rate for Federal Direct Subsidized Loans for undergraduate students for which the first disbursement is made on or after July 1, 2014 and before July 1, 2015 will be 4.66%. 
For the Federal Direct Unsubsidized Student Loan, the government will not pay interest while a student is in school as it does for the subsidized loan. Interest accrues and must be paid or capitalized during periods of enrollment in school and /or deferment. The interest rate for Federal Direct Unsubsidized Loans for undergraduate students disbursed on or after July 1, 2014 and before July 1, 2015, the Interest rate is 4.66%.
Loan Fees
For Student Loans, an origination fee of 1.072% of the total loan will be assessed and automatically be deducted. The net disbursement will reflect these fees; therefore, the amount credited to the student's account will be less than the loan amount. This fee is determined by the U.S. Department of education.
Loan Entrance Counseling
Entrance loan counseling is REQUIRED for all student borrowers applying for a Federal Direct Loan at IVC. Counseling can be completed online and will help you understand your rights and obligations as a student loan borrower. Loan counseling must be completed before we will process your Federal Direct Loan. Other required steps are needed before we can process a Direct Federal Loan (please see Direct Loan Processing).  You can complete both your loan entrance counseling and Master Promissory Note at  

You will NEED a PIN number to complete the loan process on line. This PIN number is the same PIN number used to complete a FAFSA application. If you do not have your PIN, see to apply for a PIN number.

Please note that the Financial Aid Office will receive correspondence that a Loan Entrance Counseling test was completed as well as the Master Promissory Note. You should print a copy for your personal records.

Student Loan Repayment
After you graduate, leave school, or drop below half-time enrollment, you have a period of time before you have to begin repayment. This "grace period" will be six months. For more information on loan repayment please see

Federal regulations require that all student loan borrowers must have an exit interview/exit counseling during their final semester at the College. During the exit counseling, students are reminded of their rights and responsibilities as a student loan borrower. Topics include: when repayment starts, various repayment plans, deferments, loan consolidation, and consequences of default. You'll receive information about repayment, and your loan provider will notify you of the date loan repayment begins. We can't emphasize enough the importance of making your full loan payment on time either monthly (which is usually when you'll pay) or according to your repayment schedule. If you don't, you could end up in default, which has serious consequences. Student loans are real loans—just as real as car loans or mortgages. You have to pay back your student loans. Exit Counseling can be completed on line at .

Get Your Loan Information
The U.S. Department of Education's National Student Loan Data System (NSLDS) allows you to access information on loan and/or federal grant amounts, your loan status (including outstanding balances), and disbursements made. Go to

Paying Back Your Loan(s)
You have a choice of repayment plans. How much you pay and how long you take to repay your loans will vary depending on the repayment plan you choose. There are several repayment plans available: Standard, Extended, Graduated, Income Based Repayment (IBR), Income Contingent Repayment (ICR). For more information see

If you default, it means you failed to make payments on your student loan according to the terms of your promissory note, the binding legal document you signed at the time you took out your loan. In other words, you failed to make your loan payments as scheduled. Your school, the financial institution that made or owns your loan, your loan guarantor, and the federal government all can take action to recover the money you owe.

Here are some consequences of default:

· National credit bureaus can be notified of your default, which will harm your credit rating, making it hard to buy a car or a house.

· You would be ineligible for additional federal student aid if you decided to return school.

· Loan payments can be deducted from your paycheck.

· State and federal income tax refunds can be withheld and applied toward the amount you owe.

· You will have to pay late fees and collection costs on top of what you already owe.

· You can be sued.

If you are interested in applying for a Federal Direct Loan, you will need to click on Direct Loan Processing on our the Financial Aid Office homepage. 

How Much May I Borrow?
The maximum you may borrow depends upon your grade level and dependency status.

Grade Level
Sub and Unsub
First-year undergraduate
(less than thirty units completed successfully)​
$5500​ $3500​ $6000​
Second-year undergraduate
(thirty or more units completed successfully)​
$6500​ $4500​ $6000​

Since IVC is a two-year institution, students may not borrow more than the second-year amount, even if they are enrolled for a "third year."

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For questions regarding your
current financial aid status,
academic standing, award
notification or disbursement:

T: 949-451-5287
F: 949-451-5459 
Student Services Center
Room SSC 130

Dept of Education (DOE) 
IVC School Code:

Hours of Operations

We have modified our hours in
order to accommodate the
unprecedented high volume of
Financial Aid applications.

Mon:​   9:00 am - 4:00 pm ​
​Tue: ​  9:00 am - 4:00 pm 
​Wed: ​  9:00 am - 4:00 pm 
​Thu:   9:00 am - 4:00 pm
​Fri: ​  9:00 am - 1:00 pm

Hours are subject to change.
Please call ahead to confirm.

© 2015 Irvine Valley College