Financial Aid

Financial Aid Office
1100 Dutton Hall
(530) 752-2390; (530) 754-6073 (Hearing Impaired)
http://financialaid.ucdavis.edu

The Financial Aid Office provides financial assistance in the form of scholarships, loans, grants and Work-Study employment. To apply, undergraduates and graduate students are required to file the Free Application for Federal Student Aid (FAFSA), available at http://www.fafsa.ed.gov.

The priority-filing period is January 1 to March 2 each year; however, students are encouraged to apply even if the deadline has passed. Although state and university funding may be depleted, Federal Pell Grants and Direct Loans are available throughout the year for eligible applicants.

UC Education Finance Policy for Undergraduates

UC Davis uses the University of California Education Finance Policy to determine financial aid awards for undergraduates. The policy looks at four factors to choose the type and amount of aid for each student:

• Cost of attendance
• Expected Family Contribution (EFC) as assigned by the federal processor based on the FAFSA
• Federal and state grant eligibility based on the FAFSA
• Undergraduate Self-Help and Loan Contribution, which is the amount that undergraduates are expected to contribute toward their cost of education at UC Davis

The Financial Aid Office can assist students with dependents or child care costs that exceed the standard student budgets.

Graduate Student Funding

Graduate students and students in the professional schools at UC Davis (Medicine, Law, Veterinary Medicine and the School of Management) apply for financial aid by completing the Free Application for Federal Student Aid (FAFSA). Financial need is based on the information provided on the FAFSA and the student is sent a Student Aid Report (SAR) with the Student Contribution (SC) assigned by the federal processor. The SC is subtracted from the UC Davis Student Expense Budget (for the student’s graduate program) to determine need-based eligibility. Graduate scholarships, fellowships and teaching and research assistantships are administered through the Office of Graduate Studies.

Satisfactory Academic Progress

Federal regulations require that undergraduate and graduate student financial aid recipients meet the published Standards for Satisfactory Academic Progress for Financial Aid concerning units, grade point average and maximum quarters of attendance allowed to obtain a degree. A copy of these standards is available at http://financialaid.ucdavis.edu/undergraduate/students/SAP.html. Review the policy in detail and discuss it with your academic adviser.

For more information, contact the Financial Aid Office. Regulations and deadlines are subject to change.

Types of Financial Aid

Grants

A grant is an award that does not have to be repaid as long as the student remains eligible. Whenever criteria and funding levels permit, a student’s financial aid award includes grants.

Federal Pell Grants. All undergraduate financial aid applicants are required to apply for a Federal Pell Grant each year by filing the FAFSA. Recipients must be enrolled at full time to receive the full amount of awarded Pell Grant and must maintain good academic standing and make satisfactory academic progress. Eligibility is determined by the federal government according to a formula developed by the Department of Education and approved annually by Congress. The UC Davis electronic Financial Aid Notice (eFAN) informs the student of the Pell Grant award amount.

Cal Grants. All undergraduate financial aid applicants who are California residents are encouraged to apply for a Cal Grant by submitting the FAFSA and a GPA Verification form before March 2. Cal Grants are awarded by the California Student Aid Commission (CSAC) and may be renewed each year for four years. For more information, see http://www.csac.ca.gov.

• Cal Grant A awards are based on financial need and academic achievement and can be extended for one year for students entering a teaching credential program. Cal Grant A pays partial registration fees.
• Cal Grant B awards are based on financial need and are for undergraduate students primarily from low-income backgrounds. Recipients are required to complete at least 12 units each quarter. Cal Grant B pays a quarterly stipend for living expenses for first-year students and a portion of the registration fees plus a quarterly stipend for living expenses for students in their second through fourth years.
  
  Cal Grant A and B recipients who plan to enroll in a Teaching Credential Program (TCP) may be eligible to renew their Cal Grant award for an additional year. The additional year of payment is provided to students who are seeking an initial teaching credential and cannot be used for other graduate level courses of study.

University Grants (UC Grant). The university determines grant eligibility for undergraduates by subtracting a student and parent contribution, any federal or state resources the student receives, and a standard work and loan contribution from the cost of attendance. Any remaining eligibility would be funded with UC Grant. UC Grant funding for graduate students is awarded by the Office of Graduate Studies. Students in the professional schools and the School of Education are awarded grant by the Graduate Financial Aid Office.

The Academic Competitive Grant (ACG) makes funds available for low income college students who meet the general Pell Grant program guidelines, as well as additional specific criteria. ACG is awarded to first and second year college students who have successfully completed a rigorous secondary school program.

The National Science and Mathematical Access to Retain Talent Grants (SMART) are federal funds awarded to third and fourth year college students who are majoring in specific majors recognized by the U.S. Department of Education such as mathematics, science, technology, engineering, or critical foreign languages. In addition, to receive this grant the student must be a U.S. citizen, eligible for Pell Grant funding, attending full-time (enrolled in 12 or more units per quarter), and maintaining a 3.000 GPA.

For more details about ACG and SMART grants, see
http://financialaid.ucdavis.edu/undergraduate/types/ACG_SMART.html.

Bureau of Indian Affairs (BIA) Grants are awarded to students who are at least one-fourth American Indian, Eskimo or Aleut as recognized by a tribal group served by the Bureau of Indian Affairs and who show financial need. Applicants must submit a Free Application for Federal Student Aid (FAFSA) and provide supporting documents. Students are advised to write to the agency that administers their tribal affairs to request a BIA Higher Education Assistance application. The BIA Financial Aid officer on campus can help complete the application. The amount of BIA grant depends on need and availability of funds at each BIA agency.

Loans

Financial Aid almost always includes a long-term loan. Awards are dependent on funding available. Some loan fund sources do not receive allocations each year. Repayment of these loans (with the exception of Federal Direct PLUS loans) begins after graduation or withdrawal from school. Students are encouraged to work as much as possible (while remaining full-time students) and to develop modest personal budgets to keep final loan indebtedness within a manageable range.

Health Profession Student Loans (HPSL) are awarded to students in the School of Veterinary Medicine who demonstrate financial need. Parental income information is required for all applicants regardless of age and dependency status.

• $2,500 plus fees maximum
• 5% interest
• Repayment begins twelve months after receipt of the degree or withdrawal

Federal Direct Subsidized and Unsubsidized William D. Ford Student Loans (Direct Loans) are available through the Financial Aid Office. Subsidized loans are based on financial need and interest accrued while the student is in school is paid by the federal government. Unsubsidized loans are available to students regardless of income and assets, and there is no interest subsidy.

• Undergraduate students may borrow up to annual maximums of $3,500 for freshmen, $4,500 for sophomores, and $5,500 for juniors and seniors, up to a maximum aggregate indebtedness of $23,000.
• Independent undergraduate students may borrow unsubsidized Direct Loans up to annual maximums of $4,000 for freshmen and sophomores, and $5,000 for juniors and seniors.
• Graduate and professional students may borrow unsubsidized Direct Loans up to an annual maximum of $12,000. Health professions students may borrow higher amounts dependent on the length of their academic year.
• Graduate and professional students may borrow unsubsidized Direct Loans up to an annual maximum of $10,000.
• Variable interest rate is adjusted annually, capped at 8.25%.
• A 2.5% loan fee is charged on all Direct Loans. The fee is deducted proportionately from each disbursement.
• For Direct Loans, repayment begins six months after graduation or withdrawal from school.

Federal Direct Parent Loans for Students (Direct PLUS) are government-insured loans that are made to parents of dependent students.

• Parents may borrow Direct PLUS up to the cost of education minus other financial aid received during the years the dependent student is an undergraduate.
• The maximum interest rate is 9%. There is no interest subsidy for this loan.
• A 4% loan fee is charged and deducted proportionately from each disbursement.
• Repayment begins within 60 days after loan disbursement.

Direct Grad Plus Loans. The Grad Plus Loan is provided by the William D. Ford Direct Loan Program. (Students in Teaching Credential programs are not eligible for Graduate Plus loans.)

• The interest rate is fixed at 7.9%, no annual or aggregate borrowing limits (other than cost of attendance less other financial aid received).
• Credit checks are required to be eligible for the Grad Plus. Students who do not meet the credit requirements for a Grad Plus may still obtain the loan with an endorser who does meet the credit requirements.
• A 2.5% origination fee is deducted from the loan amount.
• Repayment period begins 60 days after loan disbursement.

Federal Perkins Loans are for U.S. citizens or permanent U.S. residents. Loans may be limited to a percentage of student's need because of demand and limited funds. This is a subsidized loan, which means the federal government pays the interest on the loan while the student is enrolled in school. Repayment starts nine months after graduation or withdrawal from school and may be extended over 10 years. Additional deferments are possible for temporary total disability or volunteer service in a private, non-profit organization, VISTA or the Peace Corps. Some teachers of students from low-income families and full-time teachers of handicapped children may also qualify for partial loan cancellation.

Annual Federal Perkins Loan Limits

• $4,000 for undergraduate students
• $6,000 for graduate/professional students

Aggregate (Maximum) Loan Limits

• $8,000 for a student who has not completed the first two years of undergraduate work and for programs that are less than two years in length
• $20,000 for a student who has successfully completed two years of a program of education leading to a bachelor's degree but who has not completed degree work
• $40,000 for a graduate/professional student (includes loans borrowed at the undergraduate level)

Short-Term Loans meet temporary or emergency financial needs of registered students. Loan funds are provided by UC Davis alumni, ASUCD, the Cal Aggie Foundation, the Regents of the University of California and private donors.

• Emergency Loans: $300 maximum. The maximum repayment period is 30 days.
• Short-Term Loans: $300 maximum; exceptions to the maximum amount can be made if financial aid funds are expected. The maximum repayment period is five months or the end of the academic year.
• Assistant Loans: graduate students who are in the teaching assistant, research assistant, readership, associate-instructor or postgraduate researcher classifications can apply for a maximum of one month’s salary. The maximum repayment period is six months or the end of the academic year, whichever occurs first.

For applications and more information about applying, see http://financialaid.ucdavis.edu.

Federal Work-Study

Student Employment Center
1210 Dutton Hall
(530) 752-0520; sec@ucdavis.edu; http://jobs.ucdavis.edu

Undergraduate Work-Study

The Federal Work-Study program allows students to earn part of their financial aid through part-time employment. To participate, students must file a Free Application for Federal Student Aid (FAFSA) and receive Work-Study as a part of their financial aid package. Work-Study awards offer both money for education and work experience. Work-Study recipients should obtain a Work-Study job or ask to defer the Work-Study before December 1 or the award will be canceled. The Student Employment Center coordinates the Federal Work-Study program for undergraduates at UC Davis.

Community Service. A wide variety of community service jobs are available for students who apply for Work-Study funding. These jobs provide educational and rewarding work experience and help students connect with the community at large. Students applying for community service jobs also receive priority consideration for Work-Study funding.

Graduate Work-Study

Work-Study funds for graduate students are allocated directly to the chairpersons of the graduate programs. Graduate students seeking Work-Study funding should contact their respective departments for further information. Students must file a FAFSA and have financial need to be considered for Work-Study funding.