Your financial aid award is an accurate reflection of your aid eligibility based on information available to the Student Financial Aid Office at the time of your awarding. Changes to your eligibility or in the availability of funding from federal, state, or institutional sources may result in your aid award being adjusted, even if you have already accepted funds. You must notify the Student Financial Aid Office about other aid you are receiving or expect to receive that is not listed on your award offer.
The Student Financial Aid Office works to present students (and their families) with the most up-to-date information as they plan for the upcoming year.
If we become aware of new information, details will be sent to affected students as well as posted here. The date of the last update is noted above. This Web page will also remain available to all awarded students using the link from your award offer email or via the Financial Aid Topics page on this site.
Fall 2016 Billing - Updated 07/15/16
Registration and financial aid for fall 2016 switched over to Catalyst in spring 2016. Student billing became available as of July 15, 2016.
Review your bill carefully in Catalyst under the "My Financials" tab as there are a number of changes with the calculation and presentation of the bill. You can find more information on how tuition amounts are calculated and related items on the Bursar Website.
NOTE: Initial fall 2016 bills will not include room and board charges for students contracted to live on-campus. These charges will be added in the weeks ahead. Also, tuition remission will not appear for eligible students until later this summer. Anticipated aid will not display if you have not accepted the aid source.
Financial aid will NOT adjust dynamically with each registration change in Catalyst. Estimated aid will adjust at designated points in the billing cylce. Because most students changing registration tend to trade out courses or swich sections for each other, your registration changes may not cause a change in aid even at these adjustment points. Students who register for or change to part-time or co-op enrollments should review aid eligibility rules. Understanding your anticipated bill and aid will help you prepare for any out-of-pocket costs.
While anticipated aid will estimate, aid eligibility for all students will be reviewed again at the point of disbursement and when aid locks for a student for the term. Aid eligibility will be recalculated 10 days prior to the term and again 15 days after the term has begun. It is important for students to know how aid may adjust if they make registration changes within that timeframe as previously refunded monies may be owed back to UC.
Scholarships Not on Your Award
If you are receiving scholarship awards from UC or outside agencies that are not listed on your award offer, understand that they will reduce eligibility for other funding sources (usually loan eligibility). To inquire as to how your scholarship will adjust your aid, contact us at firstname.lastname@example.org or email@example.com. Students should also review detailed scholarship information for undergraduate and graduate students.
Direct Loan Origination Fee Can Change Annually
Origination fees charged up front on student and parent Federal Direct Loans now will be determined annually tied to the federal budget cycle that begins each October 1. Sequestration continues to impact most federal programs including Federal Direct Loans.
Fees on your loans can therefore be determined by the timing of accepting your loan and completing any outstanding loan requirements.
Federal Direct Interest Rates Annually Set - Updated 6/20/16
Interest rates for Federal Direct Loans are set annually.
Rates for loans first disbursed July 2016 through June 2017 are as follows:
- Undergraduate Federal Direct Subsidized and Unsubsidized Loan: 3.76%
- Graduate Federal Direct Unsubsidized Loan: 5.31%
- Parent and Graduate Federal Direct PLUS Loan: 6.31%
Interest rates for any portion of your loan stay with that portion of your loan through repayment unless the loan is consolidated.