<p>My d will decline the loan becoz she got some outside scholarships enough to cover the loan amount. Will those self-reported scholarships eliminate or reduce the scholarship or grant given by UCLA? I hope not.</p>
<p>no, self-reported scholarships dont decrease scholarships or grants. what will happen is that they will pay you back the amount that was not used to cover tuition. </p>
<p>self-reported scholarships will reduce loans though, but you've already declined them.</p>
<p>Thanks kfc4u. That's a relief. Do you mind explaining to me how it works when the school receive those checks? If the school gets the money on time, they will use these monies to pay the tuition fees, etc. Right?</p>
<p>Hmm, seriously kfc4u?</p>
<p>I've checked with the UCLA Financial Aid office, and the consensus there seems to be that due to strict federal overaward regulations, if you have more than enough to cover all of your loans, the excess amount leftover will be deducted from scholarship/grants.</p>
<p>According to <a href="http://finaid.org/scholarships/overawardregs.phtml%5B/url%5D">http://finaid.org/scholarships/overawardregs.phtml</a>,</p>
<p>"The Federal overaward regulations in 34 CFR 673.5(b) requires colleges to take into account any resources they know about or can anticipate when awarding or disbursing aid. In addition, 34 CFR 673.5(d) requires colleges to reduce the size of the need-based aid package whenever the student receives resources that exceed financial need by more than $300."</p>
<p>Any chance you can divulge where you got your info from, kfc4u? I'm in the same predicament as momca25's daughter, as I have about $12050 in excess scholarship money after all of my loans/work-study have been covered. The situation that you give could greatly alter my situation. Thanks.</p>
<p>Oh, and momca25, as far as sending in that scholarship check to the UCLA Remittance Processing Center, I've talked to them. They said that they prefer the check to be sent near the beginning of August (about 4-5 weeks before the quarter starts) so that they can reflect the change in your eFAN. Remember that if the check is made in your daughter's name, and not in the "Regents - University of California" name, then your daughter has to go in person to UCLA so she can sponsor the check for UCLA.</p>
<p>Jinobi: I'm not sure if you know this but you only have to report all scholarships that are made payable to UCLA. Scholarship awards made to you, UCLA does not need to know. This info was given to me by a financial counselor in UCLA. </p>
<p>Congratulations for all those scholarship awards.</p>
<p>Ooh, conflicting information abound...hehe. Thanks for the congratulations. </p>
<p>Well, from what I've heard, the scholarship awarders usually or have to report the scholarship award on their taxes; subsequently, UCLA can thus find out about those scholarship awards, and see whether I didn't report any. </p>
<p>All the scholarships are made in my name, but my big $40000 scholarship is the only one I'm planning to report to UCLA, as it seems that:</p>
<ol>
<li>UCLA would be more likely to notice the big scholarships than the small ones.</li>
<li>I don't want to deal with any loans at the end of my 4-year stint. </li>
</ol>
<p>The rest of the smaller ones I was planning to keep anyways, but your info is certainly intriguing. Guess I'll have to place a call to UCLA FAO to assuage my concerns. If possible, momca25, may you tell me your financial counselor's name? If you want to contact me through email, reach me at </p>
<p>jinobi "at" razzolink.com</p>
<p>Thanks for the additional insights!</p>
<p>ok well there's 2 types of scholarships. </p>
<p>one type are the scholarships/grants given to you because you've "earned" them, such as cal grant, regents scholarship, alumni scholarship, and various other scholarships that may be sponsored by ucla. those they can't deduct from you, even when your outside scholarships plus these scholarships exceed the tuition amount. </p>
<p>the other type of scholarships are the ones given by the UCLA financial aid office in order to meet NEED. that is, the scholarships were given to you because they needed to cobble up some loans, work-study, and scholarships to meet your financial need. thus, because you had not reported your ACTUAL need by not letting them know of your outside scholarships, the financial aid office has mistakenly given you aid in the form of scholarships that you actually do not need. i would think they would have the right to revoke these scholarships since they are need-based and were given because of misleading info provided (or the lack thereof) by you. </p>
<p>so my guess is that if your outside scholarship exceeds the loan amount, then they may deduct the need-based scholarships given by the financial aid office (but this shouldn't apply to any of the merit-based ones). </p>
<p>if i'm wrong, please let me know. my info is just from my experience as a ucla student. </p>
<p>
[quote]
If the school gets the money on time, they will use these monies to pay the tuition fees, etc. Right?
[/quote]
</p>
<p>yes, it pays for tuition. anything exceeding the tuition amount will be reimbursed back to you for free use on other expenses, such as dorm payment, books, etc.</p>
<p>I just talked with UCLA Financial Aid about your scenario, and they replied that even scholarships that you have "earned" (even those that are made in your name) are counted in FAO's loans/work-study/grant deductions. Therefore, FAO can take away grants, <em>except</em> for the Pell Grant (since that grant is federally administered) if you have an overaward of scholarships. </p>
<p>That just shot down some of my hopes. Guess I'll have to file a Petition for Re-evaluation to try to get more budget increases ($2000 computer, here I come...)</p>
<p>right jinobi, they can take away NEED-based grants/loans/workstudy that they gave to you, but in the end they can't take away your merit-based scholarships (even if those exceed the tuition amount). </p>
<p>in other words, your merit-based scholarships (which were previously unreported) are replacing your need-based grants/loans/etc since you dont really "need" those anymore.</p>
<p>I received a moderate outside scholarship, that is more than one of my loans and way less than another loan listed on my eFAN (the scholarship is way less than the 2 loans added together obviously). What will happen here? I hope in my case that they dont lower my grants because those loans will be killer.</p>
<p>Ooohh. <em>moment of enlightenment</em></p>
<p>Now I get what you're saying, kfc4u. Turns out your thoughts mirrored my original line of thinking; it's just that I didn't completely understand what you were saying. My fault. </p>
<p>Oh, and phong, UCLA Financial Aid will always reduce your loans/work-study first, before they reduce your grants, so don't worry about your grant money being taken away just yet. I'm assuming you have a subsidized Stafford loan and a Perkins loan; see if UCLA Financial Aid will reduce the Perkins loan first, as I <em>think</em> that the subsidized Stafford is more favorable to you in terms of interest accrued and payback terms.</p>
<p>Our situation here is somewhat similar to Phong. On the efan, I will accept the grant, scholarship and the work/study and decline the loans as the outside wscholarship will replace the them or should I accept all offers and the finaid office do the math? I am confused.</p>
<p>From what I gather, there should be a little box that states how many outside scholarships/awards you have received, located under all of your grants/loans listed. Other than that, I don't know what happens afterwards, nor can I give any advice about whether you should accept/decline your loans. </p>
<p>However, I do know that your daughter's financial aid counselor at UCLA can perform the outside scholarship process on the phone. When I called the UCLA Remittance Center (the place where you send in your scholarship checks), the representative offered to connect me directly with my financial aid counselor to change my eFAN to reflect my scholarship earnings.</p>
<p>I posted a similar question elsewhere but...</p>
<p>What is the deadline for the eFAN? I have not accepted, confirmed the loans, etc on the eFAN as I have to consult with my family (currently overseas and away from home).
Plus, UCLA would probably need to make me a new eFAN because of an outside scholarship?</p>
<p>
[quote]
I received a moderate outside scholarship, that is more than one of my loans and way less than another loan listed on my eFAN (the scholarship is way less than the 2 loans added together obviously). What will happen here?
[/quote]
</p>
<p>jinobi is correct. </p>
<p>
[quote]
On the efan, I will accept the grant, scholarship and the work/study and decline the loans as the outside wscholarship will replace the them or should I accept all offers and the finaid office do the math?
[/quote]
</p>
<p>you should first report the outside scholarship on your current eFAN. you can accept the loans if you want but it doesnt really matter because then the finaid office will issue you a new eFAN that deducts your loans based on the amount of the outside scholarship. in other words, you can let the finaid office do the math. </p>
<p>
[quote]
Plus, UCLA would probably need to make me a new eFAN because of an outside scholarship?
[/quote]
</p>
<p>yes. again, report the outside scholarship on your current eFAN and you'll get issued a new one with a reduced loan amount.</p>
<p>Oh, phong, there is no deadline for accepting the items on your eFAN per se; its just that you have to accept them before the quarter starts, so that UCLA FAO can disburse your aid (so FAO says). I would give it at least a week or two before the start of the quarter though.</p>
<p>Sorry to dig up old threads, but I just informed the FAO of my outside scholarships...and they ended up subtracting more than $2000 from my eFAN. Seeing as I was going to buy myself a nice computer with that scholarship money, should I try to haggle with FAO over my new eFAN, or just accept it and petition for a refund later? </p>
<p>And while we're on the topic of petitions, is there a form for re-evaluating scholarships/financial aid? The Petition For Re-Evaluation seems to deal with only loans...</p>
<p>honestly, you should just accept your eFAN and be done with it... they subtracted the other money from your award most likely because you had that much in scholarships. you can't expect to be given more money than you need.</p>
<p>interesting...</p>
<p>right now, I have all scholarships and one federal pell grant totaling $29500.</p>
<p>I have another scholarship for 2k that I am planning to decline. If I do accept this 2k, what happens now?</p>
<p>Haven't seen this thread in a while. </p>
<p>skyline:
You should've submitted the Petition for Re-Evaluation (with the Computer Purchase section all filled out) before you reported your scholarships. That way, when you report your scholarships, that'll ensure that the Computer Purchase increase in your budget will be covered by your scholarships. Seeing as how you already reported your scholarships, any additional increase in your budget (such as housing fee increases, computer purchases, etc.), will have to be in loans.</p>
<p>What FAO subtracted was most likely your University grants; FAO cannot take away your Cal/Pell grants nor your University scholarships. That was what FAO told me when I asked them during Orientation. </p>
<p>Vega07, is that $29500 amount all given to you at once? If what FAO told me above was correct, then you need to have enough scholarships to cover your student budget without the University Grants. If you do, then I presume FAO will give you the excess as a refund check. Check with FAO directly, though.</p>