How to Reduce Cost of UCSB

Colleges & Universities A-Z University of California - Santa Barbara
1

<p>So I checked out my preliminary financial award for UCSB my expected family contribution is 0 and my grants and scholarships max out at around 23k. And then there's an expected 2k from work study. This leaves a 7300 dollar deficit, leading to a bunch of hefty loans. :(</p>

<p>Is this amount usually an overestimation because my freshman friend who also is in another situation as I am in UCD is actually profiting from grants by the state. Is there any way I can reduce the amount of loans I can take or eliminate it all together? I'm going to be living on campus by the way, and I want to know good ways to lower the loan amount.</p>

2

<p>You don’t have to take loans at all. Loans are completely optional and are opt in. Considering your grants and scholarships are quite a lot, you shouldn’t be freaking out as much - that’s a lot of money covered for something as expensive as college.</p>

<p>BTW: Work study is money that you’re expected to cover by working while in college - add that 2K to your 7.3K.</p>

<p>So you have to handle $9,300 - the same situation I’m in. Round up (because it’s an overestimate) and you find yourself having to handle about $10K. Out of $33,100, that’s a ton of money taken off.</p>

<p>So to reduce the cost, be active. Get a job over the summer, find scholarships, find grants, get donations, do whatever it takes. Taking a student loan is probably one of the last options you want to take - despite the rates being extremely low, and the fact that interest doesn’t accrue while you’re studying, they own you until you pay everything off. Either your parents will help you pay the $10K, or you’re going to have to find as many scholarships as possible.</p>

<p>Don’t ignore the small scholarships as well - a little here and a little there can sum up to a big difference.</p>

<p>Also, living in a triple on campus saves you, about, $2.5K or so. Look at the on campus boarding rates and find the best way to save money.</p>

<p>You should also form a bond with your professors - they’re the gateway to everything in college: scholarships, research opportunities, internships, job opportunities.</p>

<p>For what you’re unable to pay, then I guess your last resort is loans. Research all the different types of student loans - I believe federal loans are usually the best - and pick the best option. Keep in constant contact with your parents and talk with them about the best you all can afford.</p>

<p>Good luck.</p>

3

<p>Live in IV and do summer school. </p>

<p>You can find somewhere for about $650 a month which comes to about $8000 vs the $13k four a double. Of course you have to factor in food, internet, light but it still turns out that IV is better (at least for me it didn’t). It just gives you some extra degrees of freedom, especially with an EFC of zero. </p>

<p>Summer school helps you pay for rent in the summer; or you can just sub lease. Also, you could probably slice the $650 a month if you squeeze three people into a one bedroom in IV (which is fun but could burn you).</p>