Financial Aid Package UC-What Does it cover? (2019)

Paying for College
1

Hi everyone, I’m a transfer student looking at potential CSU’s and UC’s but I’m unsure of how the financial aid works exactly.

Here is an example of my award package for UCR:

FEDERAL PELL GRANT

$2,065.00

FEDERAL WORK STUDY

$500.00

CAL GRANT A - ESTIMATED

$4,190.00

UCR GRANT

$2,253.00

USHIP FEE GRANT

$609.00

FEDERAL DIRECT STAFFORD LOAN

$1,833.00

FED DIRECT UNSUB STAFFORD LOAN

$869.00

Total

$12,319.00

The awards above are for ONE QUARTER…so multiply these figures by 3 and you have the total award for the school year…WOW…I didn’t expect such a generous package. I’m feeling quite blessed.

My question is, what can I use this aid on? Let’s disregard the loans, as I won’t be using those, but what about the other grants? If I understand correctly, Pell grants and Work study money can (technically) be used for WHATEVER…like it’s basically just a check written out to you by the government. I’ve had the Pell Grant before at a CCC (Cali Community College) and it was just that, but I don’t know if it’s different for University. Further, I’m assuming the Cal grant is going to cover tuition and fees and I won’t be able to touch that really? The UCR grant is the one I’m really curious about…is that something that could cover part of my housing fees (and dining) if I lived in on-campus apartments (like the Bannockburn Village)?

Along with the Award was the UCR COA:

Cost of Attendance
Books and Supplies

$1,450.00

One Time Document Fee

$165.00

Highlander Orientation Fee

$90.00

Personal Costs

$1,575.00

Room and Board

$17,350.00

Tuition and Fees

$15,653.00

Transportation

$675.00

Total:

$36,958.00

Thanks all for the help! Let me know if I should provide anymore details!

@patsmom @thumper1 @mom2collegekids @mommdc @dodgersmom @Lilliana330 Sorry for creeping but I saw you all posting helpful tidbits at other places on CC :stuck_out_tongue:

2

I’m not a Calgrant expert…but your award can be used to pay billable costs, I believe. Those would be tuition, fees, room and board. It looks like your tuition is just about covered…right?

From what I am reading, the costs of tuition fees room and board at UCR is in the $37,000 a year range…as you posted.

Your award is enough to just about cover the full cost to attend…if you take the loans.

3

@thumper1 Thanks for the response!

Yes, it’s exactly covered!

UCR COA= 36,968.00$ and Aid package with loans= 36,958.00$

Although the tuition and fees seem to be a concrete figure, I think the Room and Board can be played with a bit.

4

Hoping someone else responds as I am NOT a CA aid expert!

5

@thumper1 No worries :slight_smile:

6

Your financial aid award covers your entire cost of attendance. Part of the cost of attendance is room and board, so yes, you can use part of your aid money for housing costs, wherever you end up living.

UCR will deduct the amount you owe on your account each quarter - tuition, fees, room and board (if you’re living on campus). Any money left over after these directly billed costs will be refunded to you. This money can be for books, supplies, transportation, personal items, etc.

The work study portion of your aid is not immediately available. You first need to get a work study eligible job and then work enough hours to earn the $500.

Make sure you go through all the steps to keep the process running smoothly:

https://financialaid.ucr.edu/apply/money

You mentioned in your post that you won’t be taking your loans. Does that mean that you have savings, or your parents are going to be contributing? How will you cover your expenses without them?

7

@LVKris I’ll be working on top of the financial aid, but as I’m an independent, I’m going to make sure I don’t work to the point that my financial aid is reduced. I’ve been driving Uber/Lyft and so I’m able to set my hours and work as much or little as I need :slight_smile:

8

OP What @lvkris meant is that if you don’t take out your loans, you will have to pay that much in cash every quarter. What you wrote above has a total of $2702 in loans every quarter (which is actually a little above the $7,500 max you can take out for the whole year). Are you making that much each quarter and/or have that saved up?

9

@Mwfan1921 this student is an independent student so he is eligible for the $7500 junior Direct Loan PLUS an additional $4000 in Direct Loan money. They didn’t give him the whole amount of loans he is eligible for because that would have exceeded the cost of attendance…and that’s not allowed.

10

Thanks @thumper1, missed that. Regardless, if OP doesn’t take the $2,702 per quarter in loans, that will be due in cash.

11

The Pell grant is not just a check made out to the student. It is paid through the school and they wil apply it to billed costs and only give you the rest, if any, after everything is paid. The work study is a job and you have to get a job, earn the money, and get paid so the FA and billing office never see that money. It’s yours, just like other money you earn is yours.

The Pell grant and loans will be the same at any of the campus. Work study is likely to be similar at other campuses but no guaranteed. Of course the UCR grant will not be available to you at another school but that school may have its own grant. USHIP (health insurance?) is probably similar at all Cal campuses

When comparing costs, take the bill costs and subtract out the expenses, transportation, and books and supplies and the other costs will be billed to you by UCR ($33,258 for the year). From your award, take out work study and the loans (if you don’t want them and that will be what UCR will have to pay the bill ($6864 x 3qtrs = 20,592).

You’ll need $13k just to pay the school if you don’t take the loans. You’ll also need money for books, transportation and incidentals. Or are you not living on campus? If not, subtract the $17,350 but then you’ll need a lot more money for living expenses. You’d the get a refund of $4684 ($1561 per quarter).

If you are a commuter, you may have other fees like parking added to your bill.

12

Remember that the UCSHIP grant is not reimbursable in cash if you waive the health insurance, you just lose the money.

13

I think the confusing part is that when at the community college, BOG covered tuition, so Pell was just handed to the student to spend as he pleased.

But now it appears that he’ll be dorming, so his aid will go towards tuition, fees, room, board, health insurance,…and if anything is left, then he’d get money back to pay for books and whatever.

14

@mom2collegekids exactly right! And regardless of whether or not the Pell goes directly into my pocket or the schools, I’ll be using it to cover food or housing anyway.

Followup question though–What if I use my GI Bill? I’m a Marine vet, but I’m not sure if I will use it right now since I have this aid at my expense currently…thinking I will save it for grad school when I imagine much of this aid will not be available as it is for undergrads

BUT if I do employ the GI Bill with this current financial aid…that would cover tuition (in full), so then I’m assuming all I will be granted is the Pell and the loans, right?

15

Do not use your GI bill with your COA covered, if you decide to go onto graduate school you can use it there. Depending on the school the GI bill may cover the entire cost of law/med/business school if you are 100% eligible.