UC Regents Scholarship, does it cover everything?

Paying for College
1

I got regents at UC Berkeley and on the Finances page my regents scholarship covers everything (Tuition, Housing/Food, Books/Supplies, Transportation, Personal Expenses) except my EFC. Does that mean I can select a more expensive meal plan or purchase any textbooks without changing the annual net cost to attend? (it seems like the regents scholarship would increase if my expenses increase, but it will always leave the net cost to equal my EFC)

2

You would have to request a COA increase to the school. They may agree or deny.

Keep in mind that you will have to pay income taxes on ALL of your “free money” aid except for about $16k (the amount that is for tuition, fees, and books). So, if you’re getting $35k of “free money” each year, then you’ll be paying taxes on about $20k per year…so it’s not a good idea to be increasing that amount. In fact, you’re going to need to figure out how to pay those taxes…probably by working/saving during summers.

3

The scholarship is probably a set amount per year and will cover the school billed costs for tuition, fees, room and board if you live on campus, and then the excess amount will be refunded to you.

Then you can buy books and pay your remaining costs with that.

I would ask the school how room and meal plan choice will affect that.

They might have a particular option mentioned in the package.

4

@mommdc The scholarship is supposed to be $2,500 per year for those who do not have financial need. But it awards up to a full ride for those who have financial need so it’s not a set amount but it adjusts depending on what your FAFSA says.

5

Presumably, they calculate the scholarship based on the student budget used for financial aid purposes (presumably the budget listed at http://financialaid.berkeley.edu/cost-attendance ), which does vary based on whether you choose on-campus, off-campus, or live with parents for housing. However, it is unlikely that any other differences will change the scholarship amount (e.g. living in some place more or less expensive than the student budget assumes, buying more or fewer textbooks, etc.). If you really want to be sure, you can ask directly.