… Financial Aid Programs … Federal Pell Grant … The Federal Pell Grant provides gift aid assistance to undergraduates who have not yet earned a baccalaureate or first professional degree and who demonstrate financial need. Awards are based on your … Aid Office. … Student Loans (Aid that you must pay back) … A caution about student loans – It takes time for a loan application to be processed by the school, lender, and/or the U.S. Department of Education. Student loan funds are delivered … your award will be held in reserve for up to three years until you transfer to a bachelor’s degree program. Cal Grant B Provides subsistence payments for new recipients in the amount of $1,648 for a full-time, full year award. Payments are …