As used in this article, unless the context requires otherwise, the following definitions apply: (a) An âacademic yearâ is July 1 to June 30, inclusive. The start date of a session shall determine the academic year in which it is included. (b) âCost of attendanceâ means the studentâs tuition and fees, books and supplies, living expenses, transportation expenses, and any other student expenses used to calculate a studentâs 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) âExpected family contributionâ means a studentâs 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) âFinancial needâ means, as used in subdivision (a) of Section 70048, the cost of attendance minus the expected family contribution. (2) âFinancial needâ means, as used in subdivision (b) of Section 70048, the cost of attendance minus the student aid index. (e) âGift aidâ means all financial aid designated for the studentâs 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) âInstitutional gift aidâ 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) âInstitution of higher educationâ or âinstitutionâ 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) âPrivate scholarshipâ 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. A federal, state, or institutional scholarship, including, but not limited to, financial aid provided by the Middle Class Scholarship Program established by Article 22 (commencing with Section 70020), shall not be considered a private scholarship. (i) âScholarship displacementâ means the reduction of institutional gift aid due to private scholarship awards. (j) âStudentâ means any California resident that enrolls in any institution of higher education to obtain an undergraduate degree. (k) âStudent Aid Indexâ means, with respect to a student, an index that reflects an evaluation of a studentâs approximate financial resources to contribute toward the studentâs postsecondary education expenses for the academic year.
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