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					22       Undergraduate Admission and Financial Information

educational fees paid quarterly by students at all    borrow up to $20,000 for undergraduate study.          UCSC Financial Aid and Scholarship Office,
campuses of the university.                           Repayment begins nine months after gradua-             less any financial assistance the student receives.
                                                      tion or withdrawal from higher education. The          Parents must demonstrate creditworthiness for
Scholarships                                          interest rate is 5 percent per year.                   loan approval. Borrowers pay an origination fee
UC Santa Cruz scholarships range from $250               William D. Ford Federal Direct Subsidized           of up to 4 percent, which is deducted from the
to $10,000 per year. (The average award is            Student Loans are offered to students who dem-         loan amount. Loan payments begin 60 days after
about $1,500.) Funding comes from many                onstrate financial need, and annual limits for         the last disbursement. The interest rate is fixed at
sources—private donors, corporations, profes-         dependent students are $3,500 for first-year           7.9 percent on all loans made in 2008–09.
sional associations, alumni, and the university       students, $4,500 for second-year students,                Other loans. The UCSC Financial Aid and
itself.                                               and $5,500 for all other undergraduates. The           Scholarship Office provides information about
   Merit scholarships are awarded competitively       annual limit for graduate students is $8,500.          other privately sponsored education loans at
on the basis of high academic achievement and         Students may borrow up to $23,000 for         or upon request.
potential. The most prestigious merit scholar-        undergraduate study and up to $65,500 for
ship awarded to undergraduates is the Regents         undergraduate and graduate study combined.             Further Information
Scholarship.                                          Students pay an origination fee of up to 1.0
   Other scholarships are restricted to students      percent. Repayment begins six months after             For more information about applying for
from particular geographic areas or family back-      graduation or withdrawal from higher educa-            financial aid, deadlines for filing applications
grounds or are limited to students in particular      tion. The interest rate is 4.5 percent fixed on all    and supporting documents, and campus policy
majors, classes, or colleges. The donors have         loans made in 2010–11.                                 regarding refunds of overpayments, contact the
different reasons for giving, and their varied                                                               Financial Aid and Scholarship Office, 205 Hahn
interests are reflected in the wide range of schol-   Non-Need-Based Loans                                   Student Services Building, (831) 459-2963, or
arships available. Merit and restricted scholar-      William D. Ford Federal Direct Unsubsidized            visit, where you may
ship awards range up to $1,500.                       Student Loans are offered to students who do           download and print the publication Your Guide
   Regents Scholarships are awarded for periods       not qualify for the subsidized loans (above), and      to Financial Aid.
of four years to entering frosh and for periods       students must first be determined ineligible for a
of two years to continuing or transfer students       Federal Direct Subsidized Student Loan. Interest
beginning their junior year at the university.        is charged on unsubsidized loans from the date
                                                      the loan is made. The interest rate is fixed at 6.0
                                                                                                             Veteran Services
These awards are based on academic achieve-
ment and promise, irrespective of financial           percent on all loans made in 2010–11.                  The Veteran Services staff acts as a liaison
need. For freshmen, the Regents Scholarship               The borrower must pay an origination fee of        between the Department of Veterans Affairs
is $20,000 paid over four years. For entering         up to 1.0 percent, which is deducted from the          and students who, as veterans, veterans’ depen-
junior transfers, the Regents Scholarship is          amount of the loan. Eligibility is calculated by       dents, or reservists, receive education ben-
$10,000 paid over two years. For continuing           subtracting any financial assistance awarded the       efits. The staff also assists with the California
students, the amount varies based on grade level      student from the cost of education as defined          Department of Veterans Affairs’ college fee-
and year appointed.                                   by the Financial Aid and Scholarship Office (see       waiver program for children of veterans who
   Entering UCSC students apply for schol-            Undergraduate Budget, page 19). Dependent              have service-connected disabilities or who have
arships using the University of California            students may borrow $2,000 in Federal Direct           died from service-related causes. Students who
Application for Undergraduate Admission.              Unsubsidized Student Loans in addition to the          are California residents apply for the college
When filling out your UC application, answer          annual subsidized loan limits. The aggregate           fee-waiver program through their home county
the questions in the scholarship section. Your        total loan limit for undergraduate study is            Veterans Services Office.
application essay will serve as your scholarship      $31,500.                                                  Students who are veterans or veterans’ depen-
essay. Selected students are notified in April.           Independent students have higher combined          dents should contact Veteran Services as soon
   All continuing students will be automatically      Federal Direct Subsidized and Unsubsidized             as they receive notification of admission to UC
considered for UCSC scholarships based on             Student Loan limits than do dependent students.        Santa Cruz to ensure timely processing of their
cumulative GPA. Notifications are e-mailed in         The annual limits for independent students             benefit claims.
August.                                               are as follows: $9,500 for first-year students;           Veteran Services staff members are located
                                                      $10,500 for second-year students; $12,500 for          at 190 Hahn Student Services Building. An
Need-Based Loans                                      other undergraduates; and $20,500 for graduate         appointment may be arranged by calling (831)
Student loan funds are administered by the            students. Students may borrow up to $57,500            459-2709 or by e-mail at
Financial Aid and Scholarship Office in accor-        for undergraduate study and $138,500 for               During their transition to the university and
dance with the regulations of the federal gov-        undergraduate and graduate study combined.             while they are enrolled as UCSC students,
ernment. There is no interest on need-based               Students may begin repaying principal and          military veterans are provided a broad range of
student loans as long as the student is enrolled      interest on Federal Direct Unsubsidized Student        academic and support services by Services for
in college at least half-time. To qualify, students   Loans immediately, pay only interest immediate-        Transfer and Re-Entry Students (STARS). The
must be enrolled in a degree program and              ly, or defer both principal and interest until they    main STARS office is located in room 216A of
demonstrate financial need. To apply for these        are no longer enrolled in school at least half-time.   the Academic Resources Center. Contact staff
loans, students must submit the FAFSA.                    Through Federal Direct Parent Loans for            at (831) 459-2552, or visit the STARS web site,
   Through the Federal Perkins Loan Program,          Undergraduate Students, parents may borrow up
students who demonstrate financial need may           to the full cost of education as defined by the

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