FAQ- FAFSA
http://www.fafsa.ed.gov/ Priority deadline: March 2nd 2007 To be considered for full financial aid you must have completed and submitted FAFSA by March 2nd 2007. What is the Cost of Attendance? Tuition for 2007/2008 will be approximately $20,000 and is subject to change by the University of California. This amount covers the cost of registration, instruction, and class materials, excluding text books. What is the out-of-state tuition? Tuition for 2007/2008 will be approximately $20,000, the same as in-state. Stafford Loans In most cases, fully employed students are only eligible for Stafford loans, a federal student loan. To apply for a loan fill out the FAFSA application online. Who is eligible to receive Federal Student Aid? To be eligible to receive federal student aid, you must meet certain requirements. You must: • Be a U.S. citizen or eligible non-citizen • Have a valid Social Security number (unless you're from the Republic of the Marshall Islands, the Federated States of Micronesia, or the Republic of Palau) • Comply with Selective Service registration, if required (see www.sss.gov for more information) • Have a high school diploma or a General Education Development (GED) Certificate or pass an approved ability-to-benefit (ATB) test • Be enrolled or accepted for enrollment as a regular student working toward a degree or certificate in an eligible program at a school that participates in the federal student aid programs Also:
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You must not owe a refund on a federal grant or be in default on a federal student loan You must have financial need (except for unsubsidized Stafford Loans) You must not have certain drug convictions
What if I have existing loans? No problem. You can attain a deferment form from your current loan holder. All billing will cease until you graduate or reduce your enrollment status to less than 4 units per quarter. How do I apply for aid? • Please go to: http://www.fafsa.ed.gov/ and follow the steps. • Complete the FAFSA and provide the required signatures. • It will take us 3-5 days to process your FAFSA and send you a Student Aid Report (SAR). • Your SAR will summarize the data you report on your FAFSA. Check the SAR carefully to make sure it is accurate. • Keep a copy of your SAR. • If your FAFSA information is complete, an Expected Family Contribution (EFC) will be printed in the upper right corner. Your EFC is based on the financial information you provide on the FAFSA. • Your school will use your EFC to award your financial aid. For additional help filling out the FAFSA, you can go to our completing the FAFSA on the Web site at studentaid.ed.gov/students/publications/completing_fafsa/index.html. How much financial aid am I eligible to receive? Your eligibility for aid depends on your Expected Family Contribution (EFC), enrollment status and the cost of attendance at the school you will be attending. Because the EFC formula must be applied to each family’s financial information, we cannot tell you how much federal aid you will be eligible for or estimate how much aid you might get. You must apply for financial aid to find out what you qualify for. If you want to see how the EFC formula works, you can get detailed worksheets from the Web site at www.FederalStudentAid.ed.gov/pubs. Click on the year under “The EFC Formula.” You can also get these worksheets by contacting the Federal Student Aid Information Center at 1-800-4-FED-AID (1-800-433-3243). Can I use FAFSA on the Web to estimate my Expected Family Contribution (EFC)? Yes. You can use FAFSA on the Web to calculate your estimated Expected Family Contribution (EFC). The estimated EFC will print on the confirmation page when you have completed and submitted the application. We will calculate an official EFC once we receive all required signatures. Your official EFC will be on your Student Aid Report (SAR). UCLA FAFSA School Code: 001315 To approximate the financial aid you will receive for attending UCLA enter the code (001315) when prompted.
At what rate can I expect for the year 2007-2008 An interest rate of 6.8 % can be anticipated for the year 2007-2008
Further tax inquiries can be addressed at the following URL: www.tax.ucla.edu Types of Stafford Loans: Subsidized & Unsubsidized There are two types of Stafford Loans: subsidized and unsubsidized. You must have financial need to receive a subsidized Stafford Loan. Financial need is not a requirement to obtain an unsubsidized Stafford Loan. The U.S. Department of Education will pay (subsidize) the interest that accrues on subsidized Stafford Loans during certain periods. These loans are made through one of two U.S. Department of Education programs: William D. Ford Federal Direct Loan (Direct Loan) Program & Federal Family Education Loan (FFEL) Program. For more detailed information The 2007-08 version of the Guide, which covers July 1, 2007 to June 30, 2008, is now available in PDF at: http://studentaid.ed.gov/students/attachments/siteresources/FundingEduBeyondHighScho ol_0708.pdf