Is it "usual" to be getting less aid this year?

[notaznguy]

<p>I'm not really sure about this since I read in the other thread that some people got even more money than they did last year. I'm also not sure because my friend (whose a senior now) told me her financial aid increased every year since her freshmen year.</p>

<p>I understand that California's economy isn't that great, but I just want to know if this is right.
I know that Blue & Gold Opportunity Plan passed and I saw this page: University</a> of California - Admissions</p>

<p>My income is definitely under $20,000 so I figured my loans, work study, etc. would be $9000 and under. Essentially, everything is the same as last year. Only last year I had to borrow $3500 (Subsidized Stafford Loan), $1,800 (Perkin's Loan), $2,200 (Work Study).</p>

<p>This year I have to pay $4,500 (Subsidized Stafford Loan), $600 (Perkin's Loan), $2,000 (UNsubsidized Stafford Loan), $300 (Parent PLUS Loan), $2,000 (Work Study).</p>

<p>And in terms of grants I got a little over $200 less than I did last year.</p>

<p>I understand the costs for UCLA also went up from like $25,000 to $26,400. Is it "normal" that I'm suppose to be paying more each and every year since I'm on financial aid? I always thought financial aid will cover the same each year and compensate for the increasing UC fees? I just figured it'd be like that especially since all my friends said they got more money each year. Having to pay a little over $2,000 is no big deal, I just wanna know why. I also want to know why I had to get the UNsubsidized loan because don't I have to pay that off within the year? It's kind of a burden.</p>

<p>What happens if I choose NOT to accept the $2,000 Unsubsidized Loan and the $300 Parent Plus Loan? Does that mean I have to pay the $2,300 out of my own pocket then? I might do that instead since I could borrow money from my uncle (no interest there you know?)</p>

<p>And lastly, I just want to mention that, well...I didn't report it or anything, but my dad passed away 1 week after I filled out and submitted my FAFSA. So yeah...I was wondering if that would make any difference at all? Excluding the finances my dad got under medical care/disability, etc, our income this year would just be my mom's income, which is approx $8,900.</p>

[coldness]

<p>My condolences on your lost.
Unsubsidized doesn’t mean you have to pay it all off within that year. It still retains that grace period of I believe six months after you graduate before you start making monthly payments towards the loan. However, it being unsubsidized means that it’ll start accruing interest the moment it gets disbursed into your BAR and bank account. You should, if you are able to, not accept the unsubsidized and not accept the PLUS loan, and try increasing your Perkins loan. I believe they said that the perkins max is 5,500 dollars annually. Perkins is also like the subsidized, in that it only starts accruing interest after you graduate from college, and even then, it’s going to be at a 5% interest rate, compared to the Federal subsidized Stafford loan’s 6% as of this summer. Therefore, it’s logical to choose the loans that won’t start adding interest over the ones that do, that is, if you are able to change your perkins loan amount.</p>

<p>Wait for more responses, since I can’t be sure of whether this is sound financial loan advice or not before you accept your eFAN.</p>

[sheep55]

<p>Coldness is absolutely right about your options on loans. Forget about the unsubsidized and parents plus loan, borrow from your uncle. Also (i am sorry about your loss), i would talk to Financial Aid ASAP about your family situation and change in finances. I am positive that you will see an increase in aid/grants, and you probably will have to provide a copy of your dad’s death certificate. Good luck!</p>

[Altema]

<p>Oh my GO TALK TO THE FINANCIAL AID OFFICE about your Dad’s Death. </p>

<p>They have a form that is basically petition to consider this year’s income as the income for FAFSA consideration. I didn’t have the same situation, but my family’s income went from 100k+ to under 25k a month before filling out FAFSA. I went to financial aid office, talked to them, and they told me to fill out I believe this petition <a href=“http://www.fao.ucla.edu/Forms/pdfs/0910%20Projected%20Year%20Income%20Appeal%20-%20Parent.pdf[/url]”>http://www.fao.ucla.edu/Forms/pdfs/0910%20Projected%20Year%20Income%20Appeal%20-%20Parent.pdf&lt;/a&gt;&lt;/p&gt;

<p>You should contact them ASAP and make sure which form you have to fill out. You can drastically improve your financial aid this way. Your income basically gets cut in half and that would help you out a lot.</p>