… a loan application to be processed by the school, lender, and/or the U.S. Department of Education. Student loan funds are delivered to the student after enrollment and academic progress requirement have been verified. All federal loans require a … 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 adjusted accordingly for three-quarters and half-time enrollment for each payment period. Cal Grant B recipients who transfer to a tuition/fee-charging school after completing one or two years at a community college may have …