Financial Aid for New Undergraduate Students: 2013-14

Outside Scholarships You May Be Receiving

Most new students will be able to see their financial aid awards on MyFinAid, UC Berkeley's online financial aid system, the same day they are notified of their admission. Every student receiving financial aid at UC Berkeley has a MyFinAid account. You will need your CalNet ID to access MyFinAid. You will find a link to create your CalNet ID in the Next Steps section of your myBerkeleyApplication home page.
Some students have been selected for a process called verification. The U.S. Department of Education requires us to verify the information used to complete the Free Application for Federal Student Aid (FAFSA) by collecting supporting documentation from a percentage of students. For AB 540-eligible student, the California Student Aid Commission requires us to verify the information used to complete the California Dream Act Application by collecting supporting documentation from a percentage of students. You will find your Verification Form and instructions on the Required Documents page of MyFinAid. Your financial aid package is conditional, and subject to change, until the verification process is completed. When the verification review is complete, your official financial aid awards will display on MyFinAid.
Another group of students will also be offered "conditional awards." If the income information you reported on your Free Application for Federal Student Aid (FAFSA) was not from a completed tax return, you will receive a conditional award until you update your FAFSA with income information from a completed tax return and update your FAFSA tax filing status from "estimated" to "actual." Once you update your FAFSA information, your official financial aid awards will be posted on MyFinAid. However, if there are substantial changes to your information, it is possible that you then could be selected for the verification process.

How to Interpret Your Financial Aid Offer
The kind of financial aid you have been offered is based on your level of financial need. Determination of financial need is based on this formula:

Student Budget minus Student and/or Parent Contribution equals Financial Need. If your student and/or parent contribution is larger than your budget you will only be eligible for unsubsidized loans.

Make sure the budget type on MyFinAid matches your living situation. The numbers below are from the 2013-14 academic year. The Student Budget is subject to change. The amounts below are the most recent estimates available as of March 28,2013.

• Living with Relatives ($24,294)
• On-Campus Budget ($33,522†): a University Residence Hall.
• Off-Campus Budget ($29,060†): an apartment, fraternity, sorority, co-op housing, or University apartment. Please note that, for financial aid budgeting purposes, the Wada Apartments, Channing-Bowditch Apartments, International House, University Village, and the Maximino Martinez Commons Apartments are considered off-campus housing.
† Non-California residents add $22,878 for Nonresident Supplemental Tuition and Fees.

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FINANCIAL AID AWARDS
Awards that may appear on MyFinAid fall into the following categories:

Grants
Pell Grants are funded by the federal government.

Cal Grants are awarded to California residents only. The California Student Aid Commission (CSAC) determines eligibility for these awards. Cal Grant A pays most of your fees. Cal Grant B provides the same fee payment as Cal Grant A plus an “access award” (stipend). Freshmen receiving a Cal Grant B award receive only the access award in their first year.

An Estimated Cal Grant award on MyFinAid means that the Financial Aid and Scholarships Office believes you may be eligible for a Cal Grant. Berkeley must have confirmation from CSAC before the estimated award can be converted to a payable award. You should receive a notice from CSAC in the summer.

If no Cal Grant award appears on MyFinAid and you receive a Cal Grant later, your other University grants and/or scholarship awards will be reduced. If you have no University grants or scholarships, your need- based loans and/or work-study award will be reduced.

Supplemental Educational Opportunity Grants (SEOG) are funded by the federal government.

University Grants are awarded by the University to help meet financial need.

Scholarships
Undergraduate scholarships are awarded in recognition of academic merit, personal achievement, and potential.

While Berkeley offers some honorary scholarships, most scholarships are awarded based on both academic merit and financial need. Scholarships appear on your Award Notification either as a “Berkeley Undergraduate Scholarship,” the "Freshman Scholarship," or one or more named scholarships.

The Undergraduate Scholarships, Prizes, and Honors unit (USPHO) of the Financial Aid and Scholarships Office administers three different scholarship programs under the direction of the Academic Senate Committee on Undergraduate Scholarships, Honors, and Financial Aid (CUSHFA). Admitted students are automatically considered for these scholarships. There is no application process.

The Financial Aid and Scholarships Office does not maintain a list of outside scholarships, but we do offer links to helpful scholarship websites.

All undergraduate scholarships are awarded for no more than eight semesters to students who entered as freshmen, and for no more than four semesters to students who transfer from community colleges.

Federal Work-Study is a government-funded student employment program. The work-study award on your Award Notification shows the maximum gross wages you may earn from work-study employment. An official “Referral/Authorization to Work” form from the Work-Study Office is required before you begin work on any work-study job. Jobs are listed online.

Student Loans are financial aid awards that you must repay. Please see the informaiton below and the Undergraduate Loan Programs page for more information.

Federal Direct Subsidized Loans are loans with the following annual maximum borrowing limits: $3,500/yr. for freshmen, $4,500/yr. for sophomores, $5,500/yr. for juniors and seniors. The federal government pays your interest while you are in school. You begin repayment six months after you graduate or drop below half-time enrollment.

Federal Direct Unsubsidized Loans are similar to Subsidized Federal Direct Loans except that you are responsible for interest payments from the time the loan is disbursed. You may choose to defer these payments while you are enrolled in school at least half-time.

To receive a Federal Direct Loan (either subsidized or unsubsidized), you must complete an electronic Master Promissory Note and a Loan Entrance Counseling session. Review our Federal Direct Loan web page for more detailed instructions.

Perkins Loans are long-term federal loans at 5% annual interest. Interest charges and repayment begin nine months after you graduate or drop below half-time enrollment. If a Perkins Loan is being offered to you, you will receive an email in summer referring you to a website to complete a Master Promissory Note and a Loan Entrance Counseling session.

Federal Direct Parent PLUS Loans
Federal Direct Parent PLUS Loans are loans to parents of dependent students. Parents may borrow an amount up to the cost of attendance minus other aid. Repayment begins 60 days after the last disbursement of the enrollment period. Information about the PLUS Loan application process will be emailed to you after you have accepted the loan on MyFinAid. For detailed information about PLUS Loans, visit our PLUS Loan FAQ and Tips for Completing the Parent PLUS Loan Application web pages.

Private Loans
Private loans are loans for students who have maximized their eligibility for Federal Direct Loans yet still need to cover their living costs or nonresident tuition. These loans are based on credit worthiness and usually require a co-signer for the best interest rates. Interest rates can vary depending on the lender and credit worthiness of the applicant. Some lenders charge additional loan fees. Please see our private loan web page for further information.

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HOW AND WHEN YOU WILL RECEIVE YOUR FINANCIAL AID
Your grants and University scholarships will be applied directly to your Campus Accounts Receivable System (CARS) account starting in August if you meet the following criteria:
✓ Your financial aid file is complete.
✓ You have no registration blocks.
✓ You are enrolled at least half-time.
If you are expecting a Perkins Loan and/or a Federal Direct Loan and you have completed your Master Promissory Note and Loan Entrance Counseling, these awards may also be applied to your fees, if necessary.

Campus Accounts Receivable System (CARS)
All students are assigned a financial account through CARS. This system is linked to your financial aid. Financial aid awards will be directly applied to your CARS account. Grants, University Scholarships, Federal Direct Loans, and Perkins Loans will be used to pay off any University bills or charges in the following order: registration fees and tuition, all housing for the term, telephone charges, and other University charges such as library fines.

Some students will not have refunds available to them because all financial aid has been used to pay University charges. This is most likely to happen to students living in University Residence Halls. Be prepared—bring enough money with you for books, supplies, and other expenses!

Electronic Funds Transfer (EFT)
We strongly advise you to sign up for EFT for direct deposit of any refunds to your checking account. If you do not authorize EFT, you will need to pick up your refund check at Cal Student Central. You can sign up for EFT online at: eftstudent.berkeley.edu. Reasons to sign up for EFT: It’s faster! It’s safer!

Estimated awards cannot be applied to your CARS account. If your Award Notification shows only estimated awards, or if a financial aid award is delayed, you are still responsible for paying your fees on time.

The fall semester fee payment deadline is August 15, 2013 (January 15, 2014 for spring semester). Registration fees can be paid in five installments using the Deferred Payment Plan. If the Financial Aid and Scholarships Office is unable to pay at least your first installment by the due date, you should be prepared to make that first payment yourself. Once your first installment is made and you have enrolled in classes, you will be considered registered (unless you have registration blocks). Being registered means that you are eligible to use campus services such as the library, the Recreational Sports Facility, the AC Transit Class Pass, etc.

COST OF ATTENDANCE
Estimated Undergraduate Student Budgets for 2013-14
The Student Budget represents the average amounts paid by UC students in various housing situations. The Financial Aid and Scholarships Office updates these figures annually through student surveys and other research. The Student Budget is a major factor in setting the amount of financial aid you may receive; your budget is based on the housing option you selected on your Free Application for Federal Student Aid (FAFSA) until your housing status is confirmed by the Financial Aid and Scholarships Office. The Student Budget is subject to change. The amounts below are the most recent estimates available as of March 28, 2013.

Out-of-state students, please see our web page with information about Nonresident Supplemental Tuition and Fees.

Academic Year 2013-14	Living in a Residence Hall	Living Off Campus ⁽¹⁾	Living with Relatives
Housing & Utilities	14,232 ⁽²⁾	7,458	2,506
Food	948⁽³⁾	2,626	1,706
Books & Supplies	1,226	1,226	1,226
Personal	1,430	1,746	1,962
Transportation	606	924	1,814
Health Insurance ⁽⁴⁾	2,134	2,134	2,134
Tuition & Fees ⁽⁵⁾	12,946	12,946	12,946
Total Resident Budget	$33,522	$29,060	$24,294
Nonresident Supplemental Tuition & Fees	$22,878	$22,878	$22,878
Total Nonresident Budget	$56,400	$51,938	$47,172

⁽¹⁾ Please note that, for financial aid budgeting purposes, the Wada Apartments, Channing-Bowditch Apartments, International House, University Village, and the Maximino Martinez Commons Apartments are considered off-campus housing.
⁽²⁾ Amount listed is a weighted average of all on-campus housing choices.
⁽³⁾ Includes food not covered by the residence hall meal plan.
⁽⁴⁾ Amount for the Student Health Insurance Plan. This amount can be waived if the student can show proof of equivalent coverage.
⁽⁵⁾ Tuition and fees are set by the Regents of the University of California and are subject to change.

Budgeting Advice
Now is a good time to compare what you expect to be your actual expenses to our Student Budget. For example, if you will be spending more than $14,232 for a residence hall room with meals, then expect to make cutbacks in other areas, such as personal expenses. Another way to reduce expenses is to transfer from a double to a triple room if you are living in a residence hall.

If you are living in a residence hall, your financial aid awards are first applied to all of your fees and up to five months of housing bills before a refund check can be generated from the remainder of your financial aid. Do not expect a refund check to use for books and supplies if you still have a remaining balance in CARS after your financial aid has paid out.

Visit CashCourse.org for some great ideas on budgeting to help you make your financial aid dollars stretch.

OUTSIDE SCHOLARSHIPS YOU MAY BE RECEIVING
You need to report the name and amount of each additional resource you expect to receive in 2013-14. If you have reported outside scholarships or other resources that you expect to receive in 2013-14 on MyFinAid, these will be added to the Award Details page. We must reduce your financial aid awards by the amount of your outside resources to make sure that your total awards do not exceed your student budget. We reduce need-based loans and work-study awards before adjusting grant and scholarship amounts. (A Cal Grant is not considered an outside resource.)

Are you expecting outside scholarships and need to know where to have them sent?
When donors wish to send scholarship checks directly to the University, please use the following address:
UC Berkeley Financial Aid and Scholarships Office
201 Sproul Hall #1960
Berkeley, CA 94720-1960
The check needs to include the student’s name, student ID number, and if possible, a letter of instruction from the donor. If possible, please ask the donor to make the check payable to “UC Regents.”

APPEALS
If you feel that the financial aid offered doesn't reflect your family's current financial circumstances, you have the option to appeal your parent and/or student contribution. Download either the Parent Contribution Appeal Form or the Student Contribution Appeal Form from our Forms page. The forms include details about what you can appeal and what type of documentation you must provide.

UC Berkeley does not negotiate financial aid awards in response to offers from other schools. If the other university has information about your family's financial situation that we don't have, or if you think we made a mistake in our assessment, please contact us to discuss a possible re-assessment. As a public university, our policy is to offer scholarships and grants based on financial need. The needier a student is, the higher the grant offered. The amount of grant offered to students is the maximum UC Berkeley can offer based on the level of financial need of all our students and the amount of grant money we have available to offer.

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