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<p>Typical Berkeley financial aid offers are based on:</p>
<p>Grants = In<em>State</em>List_Price - EFC - ESC</p>
<p>where EFC is the federal method expected family contribution, and ESC is $8,500 (= $5,500 Stafford loan and $3,000 work-study).</p>
<p>With the Regents’ Scholarship, Berkeley effectively replaces the ESC with additional grants.</p>
<p>Those without financial need who get a Regent’s Scholarship get $2,500 per year.</p>
<p>It could be that the $8,500 can make the difference between comfortable affordability or not for some students and their families.</p>