FINANCIAL AID MATTERS - UCSB OFFICE OF FINANCIAL AID AND SCHOLARSHIPS - A GUIDE FOR STUDENTS AND PARENTS

FINANCIAL AID MATTERS 2018-2019 A GUIDE FOR STUDENTS AND PARENTS UCSB OFFICE OF FINANCIAL AID AND SCHOLARSHIPS

Mission StatementThe University of California, Santa Barbara Office of Financial Aid and Scholarshipsprovides students with the financial resources and related services necessary to achievetheir educational goals. We are committed to providing accurate, user-friendly, respon-sive, and respectful service to students and their families. We administer federal, state,and university aid and scholarship programs in accordance with applicable policies andregulations while striving to be an innovative and service-minded department. 70% of UCSB undergraduates apply for financial aid 76% of financial aid applicants received UCSB Scholarships 95% of UCSB Scholarships were awarded to on-time applicants

3 | F I NA N C IA L A I D M AT T E R SDear UCSB Families,Welcome to Financial Aid Matters, A Guide for Students and Parents! We view the financial aidprocess as a partnership between the Office of Financial Aid and Scholarships, students and parents.We have developed this resource in hopes of providing students and their families the informationthey need to successfully navigate the financial aid process at UC Santa Barbara. We view the financial aid process as a partnership between the Office of Financial Aid and Scholarships, students and parents. We all play an important role in the process to ensure student success so I want to take a moment to highlight some information that we think you will find helpful. Thank you for your time and atten- tion. We look forward to seeing you in the fall! Mike Miller, Assistant Vice Chancellor of Enrollment Services and Financial Aid Director

8 | F I NA N C IA L A I D M AT T E R Snor parents change the data after it istransferred from the IRS—if the datawas changed or if the OFAS has reasonto believe the data transferred is incor-rect, the student will need to provideother documentation. Electronicallytransferring IRS data to the FAFSAexpedites financial aid processes andensures timely delivery of award letters.An IRS data retrieval tutorial is availableon the Tutorials tab of of our website.For students or parents who cannotuse the IRS data retrieval tool, TaxReturn Transcripts can be submitted forverification purposes. Instructions onhow to request a Tax Return Transcriptcan be found at https://tinyurl.com/TaxInformationInstructions.If you are selected for verificationand/or required to submit additionaldocumentation, please visit our websiteat www.finaid.ucsb.edu and click on MyAid Status at the top left-hand corner ofour home page. In the Academic Yearoption, be sure to select 2018-2019.You will need your UCSBnetID andPassword in order to access your file.When you access your file, you will see the“Dashboard.” Please review any currentnotifications and proceed as needed.Proceed to your “Documents” tab, whichwill link you to your “Student Verifica-tion” page and select the “2018-2019Verification” tab. All required documentscan be completed on the web throughelectronic document submission ande-signatures. All required documentsmust be submitted by June 15th. Note about Communication The Office of Financial Aid and Scholarships communicates with students via the University email (U-mail) system. It is the responsibility of the student to review all emails received from our office in a timely manner, and respond appropriately. Failure to do so may result in loss of or reduction in aid eligibility and/or delayed processing. Do not auto-forward emails sent to your U-mail to other e-mail servers (yahoo, g-mail, etc.) In certain situations, our office may contact you via telephone, post, or SMS text message (if opted in) when email is not appropriate. Please keep your telephone number and your local and permanent mailing addresses updated via GOLD. Student GOLD access: https://my.sa.ucsb.edu/gold/login.aspx.

9 | F I NA N C IA L A I D M AT T E R SHow Financial AidEligibility is DeterminedFinancial aid is awarded based on an assessment of a family’s demonstrated financial needand accounts for the total cost of attendance and the family’s ability to cover that cost.HOW NEED IS DETERMINEDThe federal need-analysis methodology assesses a portion of discretionary income and assets. Total incomeincludes taxed income and untaxed income. Discretionary income is the portion of total income that remainsafter allowances for income taxes paid and basic living expenses are deducted. Discretionary assets are assetsthat are considered available to help pay for college costs. Certain types of assets are considered nondiscre-tionary such as the family home, small family businesses and retirement plans.This assessment yields a measurement of a family’s ability to pay: the expected family contribution (EFC). TheEFC is a measure of how much the student and his or her family can be expected to contribute to the costof the student’s education for the year. The EFC is then compared to the total cost of attendance (COA) todetermine the family’s demonstrated financial need. Demonstrated financial need is the amount of moneythe family needs in addition to their current resources to cover the college costs.

1 0 | F I NA N C IA L A I D M AT T E R STHE COST OF ATTENDANCECost figures used in the annual cost of attendance budgets are averages derived from the Cost of Attend-ance Survey (COAS) administered by the University of California, Office of the President (UCOP), and updatedannually for inflation. Some of the figures used are fixed costs (such as student tuition fees, non-residenttuition, and on-campus room and board). UCOP provides our campus with cost information1 for on-campusand off-campus expenses. These costs include room & board, books & supplies, rent, food, utilities, telephone/cell phone, transportation costs, health care and personal expenses. California Resident Non-Resident On-Campus Off-Campus On-Campus Off-Campus Tuition and Student Services Fee $12,630 $12,630 $12,630 $12,630 Campus Based Fees $1,779 $1,779 $1,779 $1,779 Books & Supplies $1,842 $1,842 $1,842 $1,842 Room & Board or Rent & Food $15,273 $11,544 $15,273 $11,544 Transportation $594 $864 $594 $864 Health Care Allowance $3,357 $3,357 $3,357 $3,357 Personal Expenses $1,482 $1,584 $1,482 $1,584 Telephone/Cell Phone/Utilities $402 $729 $402 $729 Student Loan Fees $108 $108 $108 $108 Non-resident Tuition Fees - - $28,992 $28,992 Estimated Cost of Attendance $36,846 $33,816 $65,838 $62,808 An Important Note to Non-resident Students Obtaining California residency for the purposes of tuition and fees is extremely difficult for undergraduates with non-resident parents (this includes transfer students from community colleges and other postsecondary institutions within California). Virtually all non-resident undergraduates with non-resident parents remain non-residents for the duration of their undergraduate career at UC. If the student is under the age of 24 and his or her parent(s) are not California residents, it is unlikely that the student will be able to qualify as a California resident for purposes of tuition and fees. Students also do not become a resident for purposes of tuition and fees simply by living in California for 366 days or more—students who move to California primarily to attend the University of California are considered to be here for educational purposes and are not eligible for a resident classification for purposes of tuition and fees. Additional information regarding University of California residence regulations is available at www.registrar.ucsb.edu. The Office of Financial Aid and Scholarships awards students up to the total Cost of Attendance but does not have sufficient funds to meet the full demonstrated financial need of non-resident students. The amount of loans in a non-California resident’s financial aid package will increase to cover their increased costs.1Actual tuition, fees, and charges are subject to change by the Regents of the University of California and could be affected by increases or reductionsin state funding, or other developments.

1 1 | F I NA N C IA L A I D M AT T E R SHOW UCSB SCHOLARSHIP IS AWARDEDUCSB’s funding policy is based on the principle that the student and his or her family have the primary responsi-bility for paying costs associated with attending the university, to the extent of their capacity to do so. Federal,state and university grants and sholarships provide financial aid when the family is unable to pay, not when thefamily is unwilling to pay. Student financial aid is not intended to subsidize lifestyle choices and is generallybased on need. The cost of attendance will be met through a combination of the following: • manageable contributions from the student in the form of work and/or loan; • manageable parent contributions from family resources based on the family’s financial strength; and • grant & scholarship support from a combination of federal, state, university, and private sources.The chart below provides a general illustration of how students with different family income levels can covertheir total costs through a combination of university, state, and federal financial aid, parent contributions andstudent self-help.1 Sample Award Packages by Family IncomeThe university will work to keep student loan levels manageable relative to loan repayment obligations aftergraduation. The university will also work to provide adequate employment opportunities, both on- andoff-campus, for students to fulfill their work expectations. Emphasis will be placed on providing jobs that havehigher pay and that are related to students’ academic and career interests.The right balance between working and borrowing is different for every student. For some students, working20 hours per week is manageable. Others may choose to borrow more and work less. Remember, studentswho spend less than the total cost of attendance reported on their financial aid offer also reduce the amountthey will need to earn or borrow. See Budgeting and Responsible Borrowing.On November 19th, 2015, the University of California Regents approved that incoming nonresident undergraduteswill be ineligible for UC need-based financial aid. As a result of this policy, incoming classes in 2016-2017and later are not awarded institutional scholarships or grant funding. It is important to note that the Officeof Financial Aid and Scholarships will help nonresident students receive all federal financial aid, such as PellGrant and/or federal student loans , for which they qualify.21The chart above is intended to serve only as a guide to understanding your educational expenses, as cost of attendance and financialaid availability change year to year.2 UC Aid Policy for Non-California Residents

1 2 | F I NA N C IA L A I D M AT T E R SLoan Options andRepayment InformationStudent loans are money you borrow and must pay back with interest. These are offeredto most students as a viable option to help pay for educational expenses.Federal Loans Our office provides the budgeting tools, as well as links to financial literacy resources, in the Tools sectionAlthough some students may be hesitant to borrow of our website (https://www.finaid.ucsb.edu/tools).a loan, it is a wise investment to help finance collegecosts. Undergraduate students may be offered federal Another resource is the Financial Awareness CounselingDirect Subsidized or Direct Unsubsidized loan offered by the U.S. Department of Education, which alloptions, which are all provided by the U.S. Department borrowers are encouraged to complete to help assistof Education (https://studentaid.ed.gov/sa/types/ them in managing finances and debt.loans/interest-rates#rates). Additionally, some financialaid awards may include a Parent PLUS loan option. Whether using federal or private student loans,Federal student loans are available to most students students and parents should be aware of the detailsregardless of income and provide a range of repay- of their loan(s), including when repayment starts, howment options including income-based repayment plans to make your payments, repayment plan options, andand loan forgiveness benefits, which other education what to do if you have trouble making payments. Weloans are not required to provide. Additionally, somestudents may be offered a UCSB Loan as an option.Alternative Private LoansBeyond federal loans, there are alternative loans(also known as private loans) that can help to fill thegap between the cost of education and the amountof other Financial Aid offered. Most lenders will takeapplicants’ credit history into consideration whenevaluating applicants’ eligibility. We highly recommendthat students exhaust their federal Direct Loan andUCSB Loan eligibility before pursuing funds throughan alternative loan. Students interested in applyingfor a private loan can review the UC Office of thePresident’s list of recommended lenders. This list,along with details on the annual limits and eligibilityof all loans, can be found in the Loans section of ourwebsite.Budgeting and Responsible BorrowingAs with any loan, and any type of consumer debt, it isvery important to be aware of how much you borrowand only accept loan amounts that you need. Ouroffice encourages students to budget their moneywisely in order to avoid over-borrowing or the useof high interest loans and credit cards. In an effort tohelp students track their financial aid, income, andexpenses we have developed two budget calculators.

1 3 | F I NA N C IA L A I D M AT T E R Srecommend starting with the National Student LoanData System, or NSLDS (www.nslds.ed.gov) to viewyour total federal loan amounts, dates, and to find LOAN REPAYMENT PLANSyour federal loan servicer(s). Standard Repayment Plan As with any loan and any type • Repayment term: Up to 10 years of consumer debt, it is very • Payments split evenly across repayment term important to be aware of how Graduated Repayment Plan much you borrow and only accept • Repayment term: Up to 10 years loan amounts that you need. • Payments start low and gradually increase every two yearsAs a reminder, private loans have different repayment Extended Repayment Planoptions and requirements than federal loans. Borrowersof private loans should contact their loan holders for • Repayment term: Up to 25 yearsrelevant repayment information. • Choice of either fixed or graduated paymentsStudents have 6 months after leaving school beforerepayment begins for Direct Loans, and 9 months for • Must owe more than $30,000 to qualifyUCSB loans. Parents may also choose to utilize this 6month “grace period”, but should keep in mind that Income-Driven Repayment Plans1interest still accrues the whole time the student is inschool and during the grace. Students and parents • Repayment term: Up to 20 or 25 yearsare encouraged to establish contact with their loan depending on the planservicer(s) prior to repayment, and should keep thatservicer updated on any changes to their contact • Monthly payment tied to borrower’s incomeinformation. and adjusted annuallyBorrowers experiencing difficulty meeting their repay- • Any outstanding balance at end of repay-ment obligations may have options, including loan ment period is forgivenconsolidation, changing repayment plans, deferment,or forbearance, so please contact your loan servicer • Parent PLUS borrowers not currently eligibledirectly if you find yourself in this situation. Federal for these plansStudent Aid’s Repayment Estimator, found on thesame page, is a useful tool to help borrowers get an UCSB Loan Repaymentearly look at which plans they might be eligible for aswell as how much they might owe on each plan both • Repayment term: Up to 10 years.monthly and in total. • Loan servicer is UCSB, but repayment Public Service Loan Forgiveness made through UC-wide billing agent. See https://www.finaid.ucsb.edu/loans for more The Public Service Loan Forgiveness (PSLF) Program is information. intended to encourage individuals to enter and continue to work full-time in public service jobs. PSLF allows certain borrowers who work in public service For more information about federal student loan to qualify for forgiveness of the remaining balance repayment plans, visit studentaid.gov/plans. of their Direct Loans after they have made 120 1 Income-driven repayment plans include Income-Based Repayment qualifying payments on those loans while employed Plan, Pay as You Earn Repayment Plan, and Income-Contingent full-time by certain public service employers. Details Repayment Plan). Learn more about income-driven repayment on qualifying loans and job sectors can be found at plans at studentaid.gov/idr studentaid.ed.gov.

1 4 | F I NA N C IA L A I D M AT T E R SBilling and Disbursem*ntsOur billing system, Billing, Accounts Receivable and awarded for living expenses and other school-relatedCollections (BARC) consolidates debts owed to the expenses. Refunds checks are issued no earlier thanuniversity including fees, campus housing expenses one week prior to the first day of class each quarter.and library fines. Grants, scholarships and loans Refund method preferences can be updated on theadministered by our office are applied directly to your students BARC account.BARC account prior to the fee payment deadline aslong as you: Authorization of Charges • Submit required documents on time, Federal funds may only be applied to tuition, campus-based fees, and housing. Federal funds will • Are enrolled at least half-time (6 units), not pay for other mandatory university charges such as student health fees, late fees, library fees, and • Maintain satisfactory academic progress, other miscellaneous fees without your authorization. • Remain in good academic standing, and If you provide authorization and meet the normal disbursem*nt requirements your financial aid will • Complete loan promissory notes and online entrance credit to your BARC account and pay for the other counseling (if you are taking out any student loans). mandatory charges. This will help ensure that fee payment deadlines are met each quarter.If BARC charges exceed disbursed aid, the studentwill have an amount due. It is absolutely essential for If you choose not to authorize payment of otherstudents to monitor their BARC account and check charges with federal funds, you will be responsibletheir U-Mail accounts regularly to ensure fees are fully for paying the other charges out-of-pocket priorpaid—by some combination of financial aid and/or to the fee payment deadline. Please note thatpersonal funds—by the due date each quarter. Those financial aid refunds are issued no earlier than onewho still have outstanding charges and amounts due week prior to the first day of classes each quarter,by the fee payment deadline may be assessed a $50 which is after the fee payment deadline.late fee and classes may be dropped for nonpayment. You will be prompted to either provide or declineIf the sum of financial aid disbursem*nts and personal authorization of charges when you log in to Myfunds paid to the student’s BARC account exceed the Aid Status. You will also be able to modify yourbalance due, he or she will receive a “refund”. This decision at any time.refund of overpayment is often the result of financial aid

1 5 | F I NA N C IA L A I D M AT T E R STerms and ConditionsCensus Date tive standards for undergraduate and documentation will be denied. graduate students after the end of thePell and Cal grants are awarded based students’ completion of the academic Specific instructions for submitting anon enrollment and will be reduced if a year. Students must maintain a 67% appeal will be included in the email notifi-student drops below full time status by completion rate of the minimum unit cation. Examples of special circ*mstancestaking less than 12 units. UCSB Scholar- requirement established by the university include, but are not limited to: deathship recipients must be enrolled at least and maintain a minimum cumulative 2.0 of an immediate family member, injurypart-time (6 units) to remain eligible. grade point average (GPA). Students who or medical condition of the student, orThis enrollment measurement is taken do not complete classes enrolled in or other special circ*mstances. The appealon the 15th day of class each quarter. fail to achieve the minimum standards should address and document theseThe units that a student earns or may for grade point average may lose their special circ*mstances AND describeearn by the end of the quarter are not eligibility for all types of University, State how circ*mstances have changed incounted in the enrollment calculation. and Federal aid. the student’s situation that will allow theThe reductions may include billing the student to demonstrate SAP progressstudent’s BARC account for the amount Additionally, students must complete at the next evaluation. The student willof the reduction. If a student’s grant is an average of 12 units each quarter. For be notified via email of the decision toreduced or cancelled based on census students in their first year of attendance, approve or deny financial aid eligibility.date units, it cannot be increased or this would equate to 36 total units forreinstated if the student adds more fall, winter, and spring. Units will be Students who are not meeting satisfactoryunits at a later date. measured cumulatively at the end of academic progress standards but have every year. Students must have cumulative successfully appealed will be placed onDeficit Loads units that match the following schedule Financial Aid Probation and have their at the end of their corresponding year eligibility reinstated, subject to avail-Financial aid is also reduced if a student at UCSB. ability of funds. This type of probationreceives a fee refund as a result of a is for financial aid purposes only anddeficit load program. Grant recipients Year 1 = 36 is separate from academic probationwho are considering dropping below Year 2 = 72 policies for academic standing withfull time should first consult with our Year 3 = 108 the University. The Office of Financialoffice prior to applying for a deficit Year 4 = 144 Aid and Scholarships will evaluate theload. Students who are approved for student’s academic progress at the enda permanent deficit load automatically Please note that while passing grades of each subsequent quarter, when appli-receive the fee refund and do not have (P) are treated as completed units, they cable, as determined in the approvedthe opportunity to decline it. Students do not count in the GPA calculation. In appeal. Students who are on Financialwho are on a deficit load program for the event a student receives permission Aid Probation may experience delaysonly one quarter can choose whether to repeat a previously passed course, in receiving funds the following quarterto apply for a fee refund. only the first repeat will apply toward due to the need to confirm previous the completed unit count, subsequent quarter’s grades before releasing furtherSatisfactory Academic Progress repeats will not. This does not apply to financial aid. courses that are repeatable for creditAll students who have completed a (i.e. independent study courses). Transfer Students may also gain future financialFree Application for Federal Student units will be counted in the completion aid eligibility, subject to availabilityAid (FAFSA) or Dream Act Application rate provided they have been accepted of funds, if they enroll in school atand wish to be considered for University, by the university for degree credit. their own expense, without the helpState and Federal Aid must meet the of student financial aid, and do wellcriteria stated in this policy. Financial Students who do not meet SAP standards enough in the coursework to satisfyaid eligibility is based on Satisfactory will be notified promptly via email at both the qualitative and/or quantitativeAcademic Progress (SAP) standards the end of the academic year. If special standards. Please note that this will onlyestablished by the University, pursuant circ*mstances exist which caused a make students eligible for future aidto federal law, to ensure that all financial student to fail to meet one of the above once reinstated. It is not retroactive. Aaid recipients progress toward degree standards, a written appeal may be Satisfactory Academic Progress Appealcompletion. submitted to The Office of Financial must be submit for review in order to Aid and Scholarships and must include reinstate eligibility.The Office of Financial Aid and Scholar- supporting documentation. Incompleteships monitors qualitative and quantita- appeals or those missing adequate

1 6 | F I NA N C IA L A I D M AT T E R SAward Revision andReturn of AidThe Office of Financial Aid and Scholarships is responsible for coordinating many differentaid programs and ensuring that students are eligible for the awards they receive.Eligibility for aid may frequently If an award revision occurs, our Even if they don’t file for an approvedchange during the course of the office will notify you via email. You deficit load and don’t get a feeacademic year. There are four will be prompted to log on to My refund, students receiving Pellcommon scenarios that may lead Aid Status to review your revised Grants or Cal Grant B Access Grantsto a change in a student’s financial aid eligibility. (also known as Cal B Stipends) willaid eligibility: have those grants reduced if they Census Date Policy are enrolled in less than 12 units. • The student receives a scholar- UCSB Scholarship recipients will ship, external award, or other Financial aid students who receive be ineligible for those awards if source of aid that was not a Pell Grant, a Cal Grant A, or a Cal enrolled in less than 6 units. This included in the initial award Grant B or a University Scholarship enrollment measurement is taken letter. Since total aid cannot will have these grants reduced if they on census date, the 15th class date exceed the total cost of attend- receive a fee refund as a result of of each quarter. ance, a revision or reduction their deficit load program. In most to existing aid will likely occur. cases, the financial aid reduction will Please note that “variable unit” exceed the fee refund. Pell Grant, course units will be counted as • The total cost of attendance Cal Grant, and UCSB Scholarship the number of units shown on the changes. This may be as a result recipients should consult with the student’s registration record on of an appeal or changes in living Office of Financial Aid and Scholar- census date. The units that a student situations such as moving from ships prior to applying for a deficit may earn by the end of the quarter on campus to off campus. load. Students who are approved for are not what is used in the unit a permanent deficit load automati- count. The reductions may include • The student drops below full- cally receive the fee refund and do billing the student’s BARC account time enrollment. Pell Grants, not have the opportunity to decline for the amount of the reduction. Cal Grants, and some other aid it. Students who are on a deficit If a student’s grant is reduced or sources require full-time enroll- load program for only one quarter cancelled based on census date ment (12 units for undergrads) at can choose whether to apply for a units, it cannot be increased or census date. Enrollment status fee refund. reinstated if the student adds more below full-time at this date will units at a later date. result in reductions. Please see our Census Date Policy for more information. • The student withdraws from the university. Students who withdraw may not be eligible to keep all of the aid that was disbursed for that term. It is important to discuss potential financial aid repercussions with our office when considering withdrawing. Please see our Withdrawals section for more information.

1 7 | F I NA N C IA L A I D M AT T E R SWithdrawals from federal Work-Study funds effective immediately upon withdrawal. Non-Title IV aid programs (such asTitle IV funds are awarded to a student under the Cal Grants and UCSB Scholarships) are also subjectassumption that the student will attend school for to reduction in cases of a withdrawals, in accordancethe entire period for which the assistance is awarded. with state and university policies.When a student withdraws, the student may no longerbe eligible for the full amount of Title IV funds that If a student withdraws after the 60% date of the term,they were originally scheduled to receive. there are no unearned funds. Return of aid only applies to students who withdraw prior to the 60% date ofThis policy does not apply to students who cancel the term. Withdrawal after this point will not resulttheir registration prior to the first day of classes or to in any adjustments to financial aid for that quarter.students who drop some but not all of their classes.However, students should notify our office of any In most instances, the fee refund will be less than thechanges they make because their continued eligibility total unearned aid amount. As a result, when a studentmay be affected. withdraws, it is likely that a balance will be created on the student’s BARC account for the differenceUnofficial Withdrawals between the fee refund and the return of aid amount. The student is responsible for paying this balance.Students who “walk away” and do not pass any oftheir courses in a term will have disbursed financial Refund of Feesaid reduced. Federal regulations require that OFASrecalculates aid eligibility as if the student unofficially Based on the withdrawal date determined by thewithdrew at the midpoint of the term (50% completion). Office of Registrar, students may receive a full or partial fee refund. Refund of fees is based on the numberReturn of Title IV Funds of calendar days (not school days) completed until the date the withdrawal is filed, (see chart providedWhen a student withdraws, we must calculate the below). The refund schedule is based on whether theamount of financial aid earned prior to withdrawing. student is new or continuing. (http://registrar.sa.ucsb.Any Title IV aid received in excess of the earned edu/refund.aspx).amount is considered unearned. Unearned aidmust be returned back to the respective federal aidprogram. If the student is Work-Study employee, heor she will no longer be eligible to receive paymentFee Refund Schedule A1New students receiving federal Title IV financial aid who withdraw in their first quarter of attendance are eligibleto receive the following percentage: 1st Day or 15-21 22-28 29-35 36-42 43 Days or 2-7 Days 8-14 Days Prior Days Days Days Days Over 100% 90% 80% 70% 60% 50% 40% 0%Fee Refund Schedule BAll other students (those not eligible for Schedule A refunds) are eligible to receive the following percentage: 1st Day or Prior 2-7 Days 8-18 Days 19-35 Days 36 Days or Over 100% 90% 50% 25% 0%1 Schedules refer to calendar days, including weekends

1 8 | F I NA N C IA L A I D M AT T E R SSpecial Circ*mstancesand AppealsProfessional Judgement Expected Family the student’s increased budget will be funded withContribution Appeal additional loan eligibility only.Sometimes, the information and data provided on the Professional Judgement (PJ) Expected Family Contri-FAFSA does not accurately reflect a family’s current bution (EFC) appeals are typically available to becirc*mstances. Situations that impact a student or requested in late summer or early fall.family’s ability to contribute to the cost of educationmay be reevaluated. This review is done on a case-by- On-time Status Appealcase basis through the Professional Judgement (PJ)Expected Family Contribution (EFC) Appeal. Students who file a FAFSA or DREAM Act applica- tion after the March 2 priority filing deadline and/Reviewable circ*mstances typically include loss of or submit requested information after deadlinesemployment; loss or reduction in income; exclusions specified by the Office of Financial Aid and Scholar-of one-time sources of income received; final divorce ships may have limited eligibility for some financialor legal separation; death of a spouse or parent; and aid programs including university scholarships, Calmedical expenses paid. Expected Family Contribution grants, and Work-Study. Students with extenuatingAppeals must be supported by adequate documen- circ*mstances that prevented them from meetingtation. financial aid deadlines may file an On-time Status Appeal. All appeals are subject to the availabilityAlthough aid administrators are allowed to make of funding.changes to the data elements submitted on theFAFSA, we cannot alter the Expected Family Contri- Professional Judgment Statementbution (EFC) formula that is used by the FAFSA. Forthis reason, we cannot consider appeals based on All Professional Judgement (PJ) Expected Familycost of living adjustments, bankruptcy, and consumer Contribution (EFC) and On Time Status Appealsdebt. All appeal decisions are final and subject to the are evaluated and determined by OFAS Admin-availability of funding. istrators using Professional Judgment. This is a subjective process, and outcomes may vary sinceAdditionally, a student can request a Professional these requests are reviewed on a case-by-caseJudgement (PJ) Expected Family Contribution (EFC) basis. In all instances, OFAS must have adequateAppeal if he/she believes the cost of attendance used documentation from the student and/or parent toin determining the financial aid package was insuffi- substantiate special circ*mstances. As such, anycient. If approved, the budget and aid eligibility may request or appeal to our office does not guaranteebe increased. Due to funding limitations, the differ- approval.ence between the budgeted cost of attendance and

1 9 | F I NA N C IA L A I D M AT T E R STypes of AidGrants Program Details Eligibility TermsBlue and Gold A Financial Aid Initiative for University • Be a California resident or AB 540 No student will receive more schol-Opportunity Plan of California undergraduate students. eligible arship and grant support than the The goal of the new “Blue and Gold • Submit a FAFSA and provide all calculated financial need. All sources Opportunity Plan” is to ensure that UC requested documents. of scholarship and grant awards system-wide fees do not deter the half of • Apply for a Cal Grant (if not already (federal, state, institutional, and California households with incomes below a recipient) private sources, including outside $80,000 from aspiring to a UC education. • Demonstrate sufficient financial need agency scholarships) will count • Have income below $80,000. towards covering fees and meeting • Be in your first four years (two if a the Blue and Gold Opportunity Plan transfer student) of University under- commitment. graduate attendance • Meet basic requirements for UC scholarship assistance *SARCal Grants (A & B) Cal Grant A is awarded to students • Be a California resident or AB540 Students enrolled less than full-time from low and middle income families. eligible student attending an eligible (12 units) on census date (one day It provides tuition assistance only. At a school in California on at least a half- after the last day to add classes on UC, it pays the mandatory fees charged time basis GOLD) will have their Cal Grant for to all UC students. It does not cover the • Not have received a prior Bachelor’s that quarter reduced to a level that campus-based fees (or “student services degree reflects their enrollment level. fees”) that vary from campus to campus. • Meet the satisfactory academic progress Cal Grant B is awarded to students from standards as determined by the institution disadvantaged and low income families. In • Not be in default on a federal student the first year of eligibility, it only provides loan a $1,672 Access Grant. In the second • Demonstrate financial need through fourth years, it provides fee • Meet the minimum GPA requirement a assistance in addition to the Access Grant. • Not exceed the income and asset ceilingsFederal Pell Grant For undergraduates with exceptional Eligibility is determined by the Expected Up to $5,920 a year. Students who financial need who have not earned Family Contribution (EFC) that is produced are enrolled less than full-time (12 Bachelor’s or professional degrees; in from the FAFSA. units) on census date (one day some cases, however, a student enrolled after the last day to add classes on in a post baccalaureate teacher certifica- GOLD) will have their Pell Grants tion program might receive a Federal for that quarter reduced to a level Pell Grant. that reflects their enrollment level.Supplemental For undergraduates with exceptional Awarded to undergraduate students Up to $4,000 a year.Educational financial need; Federal Pell Grant recipients who are considered on-time FAFSAOpportunity Grant take priority; funds depend on availability applicants and who are determined to(SEOG) at school. have sufficient financial need.

2 0 | F I NA N C IA L A I D M AT T E R SGrants Program Details Eligibility TermsTeacher Education Provides grant aid to college students To be eligible for the TEACH grant, you Provides up to $4,000 a yearAssistance for who plan to become teachers and who must be enrolled in UCSB’s TeacherCollege and Higher are committed to teaching in a Title I Education Program (TEP), workingEducation (TEACH) school in specified subject areas. towards the Master of Education (M.Ed)Grant in Teaching.Iraq and For students who are not Pell-eligible due A student can receive an Iraq and The grant award can be up to theAfghanistan only to having less financial need than Afghanistan Service Grant for no more maximum Federal Pell Grant amount,Service Grant is required to receive Pell funds; whose than 12 semesters or the equivalent but cannot exceed your cost of parent or guardian died as a result of (roughly six years). attending school. military service in Iraq or Afghanistan after the events of 9/11; and who, at the time of the parent’s or guardian’s death, were less than 24 years old or were enrolled at least part-time at an institution of higher education.UCSB This funding is made available by the It is awarded to California Resident All awards are subject to the avail-Scholarship University of California. undergraduate students who are ability of funding. considered on-time FAFSA/Dream Act applicants and who are determined to have sufficient financial need.Extramural Funding Funding available to graduate students Contact your academic department for For information about extramural including academic fellowships, disserta- more information. funding for graduate students, visit tion research grants, conference support, the Graduate Division Financial postdoctoral fellowships, and more. Support website.Undocumented Although undocumented students may To be eligible to file the California Dream The California Dream ApplicationStudents qualify for a tuition exemption under AB Application, students must: became available following the 540 legislation, UCSB cannot provide any •Not be eligible to file the FAFSA passage of two California Assembly federal funds to undocumented students. •Be eligible for AB 540, as determined bills, AB 130 and AB 131. Together, Undocumented students may pursue funds by the Office of the Registrar these bills became known as the from outside agencies that determine •Be in a degree-seeking program California Dream Act. The California eligibility for their funds without regard Dream Act makes certain undocu- to citizenship status. University and state mented students eligible for State funds may also be available. and University Financial Aid.Work-Study Program Details Eligibility TermsWork Study A need-based form of Financial Aid that To qualify for a Work-Study award, a Students who submitted a DREAM you earn through on- or off-campus student must file a FAFSA or DREAM ACT application are eligible for this employment and receive in the form of Act Application prior to March 2nd and award only if they obtained a social a paycheck. have sufficient financial need. security number through Deferred Action Status and received an Employ- ment Authorization Card.

2 1 | F I NA N C IA L A I D M AT T E R SScholarships Program Details Eligibility TermsOffice of Financial All students that submit the Free Applica- New students tell us about their criteria Financial Aid applicants are reviewedAid and Scholar- tion for Federal Student Aid (FAFSA) each that might meet specific restricted for scholarship eligibility at the timeships Awards year by the March 2 priority deadline are scholarship requirements when they their other aid eligibility is determined; considered for scholarship support. There complete the “Scholarship Opportu- thus, scholarship eligibility will be is no other application that needs to be nities” section in Step 2 of the online posted on their Financial Aid Award submitted. Because of limited funds, admissions application or the equiva- Letter along with other aid for which almost all scholarships, including restricted lent section of the paper admissions they qualify. All awards are subject scholarships (e.g.: specific backgrounds, application. During that process, they to the availability of funding. academic interests, career objectives, are asked to review a list of eligibility etc.), are awarded to continuing students characteristics and check off those that that have done very well academically at apply to them. These characteristics UCSB. Additionally, all Financial Aid and remain part of the students’ financial Scholarships are awarded on the basis of aid application records for future years’ need. None are awarded solely on the scholarship consideration. basis of merit.Regents The Regents Scholars selection committee To be eligible for the Regents Scholarship, Regents Scholarship decisions areScholarship conducts a comprehensive review of the you must be a U.S. citizen, permanent mailed in mid-February each year. All applicant pool to determine the student’s resident, a non-citizen student qualifying decisions are final; appeals are not strength and breadth of academic prepa- under California Assembly Bills 130 or considered for Regents Scholarship ration. Selection is based on a thorough 131, or an international student with decisions. The Regents Scholarship review of the admissions application, outstanding academic qualifications. is a prestigious award for incoming including, but not limited to, test scores Only students who fall under these freshman whose UC application shows and grades. categories are eligible for the Regents outstanding academic achievement. Scholarship.Departmental The University of California, Santa Barbara For some programs, there is no appli- For information please visit theScholarships has a variety of scholarship opportunities. cation process, and the recipients are following University colleges and While many scholarships are administered selected on the basis of criteria already departments websites: by our office, some are available through available to the university. other campus departments. •Alumni Association •College of Creative Studies •College of Engineering •College of Letters and Science •Military Science (ROTC) •Music Department

2 2 | F I NA N C IA L A I D M AT T E R SVe t e r a n Program Details Eligibility TermsBenefits Benefit Chapters include: The Post-9/11 GI Eligibility is determined by the Depart- Students can receive both VA educa- Bill (Chapter 33) Dependents Educational ment of Veteran Affairs. Once you have tional benefits and financial aid by Assistance (Chapter 35) Montgomery GI been found eligible and have received filling out the FAFSA. Applicants Bill (Chapter 30 and 1606) Vocational your Certificate of Eligibility (COE) may be eligible for federal, state Rehabilitation and Employment (Chapter letter from the VA, please submit your and/or institutional grants, loans 31) Veterans Educational Assistance documentation to UCSB’s VA Certifying and scholarships in addition to Program (Chapter 32) Reserve Educational Official. VA educational benefits. In someVeteran Chapter Assistance Program (Chapter 1607) Federal cases, financial aid can be affectedBenefits program for eligible Veterans, Service by VA educational benefits, but by Members and Military Dependents. May filling out the FAFSA, students will provides financial support for education maximize their funding for school. expenses and housing. Benefit payments are determined by the department of Veteran Affairs and can cover education expenses including: Tuition and fees, Housing allowance, and Books and supplies.Loans Program Details Eligibility TermsDirect Subsidized Funds for the Direct Loans are provided by To apply for either the subsidized or Up to $5,500 depending on gradeLoan the U.S. government directly to students. unsubsidized Federal Direct Loan, level Many students combine subsi- These loans have low interest rates and you must: dized loans with unsubsidized loans do not require credit checks or collateral. to borrow the maximum amount Under the subsidized loans, the govern- • Apply for Financial Aid permitted each year. The interest ment pays the interest while students are • Accept your Federal Direct Loan rate for Federal Direct Student Loans in school. To receive a subsidized Direct through My Aid Status depends on when the loan was first Loan, you must be able to demonstrate • Complete a Direct Loan Entrance disbursed. financial need. Interview • Complete a Master Promissory NoteDirect Unsubsidized Funds for the Direct Loans are provided by To apply for either the subsidized or Up to $20,500 (less any subsidizedLoan the U.S. government directly to students. unsubsidized Federal Direct Loan, amounts received for same period), These loans have low interest rates and you must: depending on grade level and do not require credit checks or collateral. dependency status. Many students With unsubsidized loans, students pay •Apply for Financial Aid combine subsidized loans with all the interest, although they can have • Accept your Federal Direct Loan unsubsidized loans to borrow the the interest payments deferred until after through My Aid Status maximum amount permitted each graduation by capitalizing the interest. • Complete a Direct Loan Entrance year. The interest rate for Federal This adds the interest payments to the Interview Direct Student Loans depends on loan balance, increasing the size and • Complete a Master Promissory Note when the loan was first disbursed. cost of the loan.UCSB Loan For undergraduate students with excep- The UCSB Loan is awarded to under- The interest rate is 5% which does tional financial need; must be repaid to graduate students who are considered not accrue until repayment begins. school that made the loan; 5% interest rate. on-time FAFSA applicants and who Repayment begins nine months after demonstrate sufficient financial need. the student graduates, leaves school, or drops to less than half-time.

2 3 | F I NA N C IA L A I D M AT T E R S Loans Program Details Eligibility Terms Undocumented Although undocumented students may To be eligible to file the California Dream The California Dream Application Students qualify for a tuition exemption under AB Application, students must: became available following the 540 legislation, UCSB cannot provide any •Not be eligible to file the FAFSA passage of two California Assembly federal funds to undocumented students. •Be eligible for AB 540, as determined bills, AB 130 and AB 131. Together, Undocumented students may pursue funds by the Office of the Registrar these bills became known as the from outside agencies that determine •Be in a degree-seeking program California Dream Act. The California eligibility for their funds without regard Dream Act makes certain undocu- to citizenship status. University and state mented students eligible for State funds may also be available. and University Financial Aid. Graduate PLUS Federal legislation permits graduate You will apply for the Graduate PLUS Maximum amount is cost of attendance Loan students to borrow through the PLUS Loan at StudentLoans.gov. In order to minus any other financial aid student (Parent Loans for Undergraduate Students) log into the website, you will need your receives The interest rate is fixed at Loan program. The Graduate PLUS Loan social security number, date of birth, 6.41%. Interest begins accruing as allows graduate students to borrow up federal student aid PIN, and your loan soon as the first disbursem*nt is made. to the full cost of education minus other eligibility. Payments on the Graduate PLUS Financial Aid received. Loan are deferred while Graduate students are in school as long as they are enrolled at least half-time. Alternative Loans Alternative loans (also known as private In order to receive loan proceeds; you Students have the right and the loans) can help to fill the gap between must apply to the lender directly. Most ability to select the alternative loan the cost of education and the amount of lenders will take applicants’ credit history lender of their choice (http://tinyurl. other Financial Aid offered. These loans into consideration when evaluating com/UCPrivateLenders). We highly are provided by private lenders for those applicants’ eligibility. Students and/ recommend that students exhaust students who need to borrow funds in or parents may be eligible for these their federal Direct Loan eligibility excess of the yearly maximums for the alternative loans which have varying before pursuing funds through an federal loan programs. criteria (interest rates, minimum monthly alternative loan. Also, be aware that repayments, etc.). They are not federally parents of dependent students are guaranteed student loans. able to borrow up to the complete cost of education through the federal Direct PLUS Loan program. Short Term Emergency Loans allow students to receive To apply for an Emergency Loan, you To apply for an Emergency Loan, Emergency Loan an advance on their pending Financial must: visit our office. You can apply for a Aid for the current quarter due to an maximum of $1,000 emergency expense. • Have paid or deferred all past due and current BARC changes • Have pending Financial Aid, excluding PLUS loans, for the current quarter that will eventually credit to your BARC account1Subject to Change NoticeDue to the nature of federal, state, and institutional guidelines affecting ﬁnancial aid programs, the information contained in thispublication is subject to change.

FINANCIAL AID MATTERS - UCSB OFFICE OF FINANCIAL AID AND SCHOLARSHIPS - A GUIDE FOR STUDENTS AND PARENTS - UC Santa ... (2024)

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