I just received my financial aid package from UC Santa Cruz and am so grateful that it looks reasonable. I am planning on living off campus and because that is so expensive I would like to try and budget as much as possible.
My tuition (13,000) was covered by a university grant and I am also receiving a Pell grant and a smal private scholarship.
I am also being offered $3000 for health insurance, 6000 in student loans and $3000 in work study.
I am excited to take my 3000 in work study but would like to limit loans as much as possible. Because I am covered under my mothers health insurance until the age of 26, would it be possible for me to ask that the $3000 healthcare grant be used towards a meal plan? Or is switching funds around like that not allowed?
Also, if I am eligible for a Cal grant, would that be factored in to my financial aid package or would I receive that directly from the gvt. to help contribute to living costs?
You can always ask, but I doubt the insurance money can be used for anything but insurance. California schools have funds specifically for the health insurance premiums. If you don’t need the insurance, don’t take the grant because it insurance is not part of QEE and thus that grant is taxable. If you need the insurance, take it but otherwise don’t.
The UC grant will be reduced once your Cal Grant is directed to the school that you SIR. If you notice, the UC grant is roughly the same amount as a Cal Grant. The school is just temporarily listing a UC grant in place of the Cal Grant.
The UC grant my completely disappear or be reduced. It depends on the school and it depends on what your EFC is after other aid/scholarships.
@mom2collegekids ooooo! Thank you! Keeping my fingers crossed that it is only reduced instead of disappearing completely :-SS . @mamom Thank you for saying that. I’m actually thinking of just taking the grant so that I can access healthcare immediately on or close to campus. My mom’s insurance lets me go to a really great hospital over here in San Francisco and at first I was planning on just coming back in case I get sick, but the more I think about it the more ridiculous that plan sounds LOL.
Check to see if your mother’s insurance is accepted at a clinic or hospital near your school. Paying $3000 for insurance you don’t need is a waste. It is taxable to you, so it is not free.
People complain about the high cost of health insurance…