70047. As used in this article, unless the context requires otherwise, the following definitions apply:
(a) An “academic year” is July 1 to June 30, inclusive. The start date of a session shall determine the academic year in which it is included.
(b) “Cost of attendance” means the student’s tuition and fees, books and supplies, living expenses, transportation expenses, and any other student expenses used to calculate a student’s financial need for purposes of student aid programs under Title IV of the federal Higher Education Act of 1965, as amended (20 U.S.C. Sec. 1070 et seq.).
(c) “Expected family contribution” means a student’s expected family contribution calculated according to the federal methodology pursuant to subdivision (a) of Section 69506 as established by Title IV of the federal Higher Education Act of 1965, as amended (20 U.S.C. Sec. 1070 et seq.).
(d) (1) “Financial need” means, as used in subdivision (a) of Section 70048, the cost of attendance minus the expected family contribution.
(2) “Financial need” means, as used in subdivision (b) of Section 70048, the cost of attendance minus the student aid index.
(e) “Gift aid” means all financial aid designated for the student’s educational expenses, including a grant, scholarship, tuition waiver, fellowship stipend, or other third-party payment, that is not a loan or pursuant to a work-study program.
(f) “Institutional gift aid” means gift aid that is paid for by the institution of higher education from its funds and the recipient of the aid is selected by the institution.
(g) “Institution of higher education” or “institution” means any public or private postsecondary educational institution in the state that receives, or benefits from, state-funded financial assistance or enrolls students who receive state-funded student financial assistance.
(h) “Private scholarship” means financial assistance awarded to students based on one or more factors, including, but not limited to, academic merit, talent, or a particular area of study, by a private company, foundation, or nonprofit organization, or a public charity or service group.
(i) “Scholarship displacement” means the reduction of institutional gift aid due to private scholarship awards.
(j) “Student” means any California resident that enrolls in any institution of higher education to obtain an undergraduate degree.
(k) “Student Aid Index” means, with respect to a student, an index that reflects an evaluation of a student’s approximate financial resources to contribute toward the student’s postsecondary education expenses for the academic year.
(Added by Stats. 2022, Ch. 925, Sec. 1. (AB 288) Effective January 1, 2023.)