Help understanding fin aid letter

Paying for College
1

<p>I got into, and am going to UCSB in the fall. I recieved my unofficial financial aid letter via my portal and i do not understand it fully. I understand my aid should increase when the official letter rolls around because my efc has dropped since ive done the corrections. thanks.</p>

<p>I. UNOFFICIAL FINANCIAL AID ELIGIBILITY<br>
A. Cost of Attendance: Fees, books & supplies, room & board, personal expenses, and non-resident tuition (if applicable) $30284
B. Parent Contribution (subject to verification) $392
C. Student Contribution (subject to verification) $0
D. Unofficial Eligibility for Need-Based Aid (A minus B minus C) $ 29892</p>

<p>II. POSSIBLE CAL GRANT ELIGIBILITY
Possible Cal Grant Eligibility $10302</p>

<pre><code>The amount listed above is UCSB’s estimate of your Cal Grant eligibility.
</code></pre>

<p>Cal Grant A and Cal Grant B are awards funded by the State of California and administered by the California Student Aid Commission (CSAC). CSAC determines all new awards and directly notifies students.</p>

<p>In addition to the FAFSA, UCSB also required all undergraduate students who are California residents and financial aid applicants to apply for a Cal Grant by submitting the Cal Grant GPA Verification Form to CSAC by the March 2, 2010 deadline.</p>

<p>A Cal Grant A was used for this unofficial award letter, but if you are awarded a Cal Grant B by CSAC, we will adjust for that change later this summer. In most cases, this change will result in a corresponding increase to your UC Grant eligibility. We will not display actual Cal Grant awards until the State passes the 2010-2011 budget in mid-summer and we are authorized to pay the awards.</p>

<p>III. UNOFFICIAL NEED BASED AID<br>
UCSB New Freshman Scholarship $1500
Federal Pell Grant $5200
University of California Grant $3890
Federal Work-Study $2000
Federal Perkins Loan $2300
Recommended Subsidized Direct Stafford Loan $3500</p>

<pre><code>Total Unofficial Need-Based Aid $ 18390
</code></pre>

<p>IV. UNOFFICIAL NON-NEED-BASED AID<br>
Recommended Unsubsidized Direct Stafford Loan $1592</p>

<pre><code>Total Unofficial Non-Need-Based Aid $ 1592
</code></pre>

<p>V. UNOFFICIAL TOTAL (II plus III plus IV): (subject to verification) $30284</p>

2

<p>looks like:
COA…$30,284</p>

<p>Possible Calgrant…$10,302
Other grants/scholarships…$10,590
Subsidized student loans…$5,800
unsubsidized student loan…$1592
work Study…$2,000
Total…$30,284</p>

<p>So you have student loans(which have to be repaid) of $7392 a year
WS (which you have to earn through a job) of $2,000
The rest is grant aid (does not have to be repaid).</p>

3

<p>thanks! your post helped alot!</p>