ESTIMATED FINANCIAL AID NOTICE ESTIMATEDFINANCIAL AID NOTICE
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THE GUIDE TO YOUR ESTIMATED FINANCIAL AID NOTICE ESTIMATED FINANCIAL AID NOTICE TABLE OF CONTENTS Cost of Education ..................................................................2 Expected Family Contribution ..............................................2 Awarding of Aid .....................................................................3 Financial Aid Programs..........................................................3 Comparing College Costs ......................................................5 Initial Costs Not Covered by Financial Aid ..........................5 Application Processing...........................................................5 Special Circumstances ............................................................6 Alternative Sources of Aid......................................................7 The Guide to Your Estimated Financial Aid Notification contains information on how your need for aid was determined, what types of aid are available and what factors affect your eligibility for aid. This information will be helpful to parents and prospective students who have been offered admission to UCLA. The Guide to Your Estimated Financial Aid Notice 2 Remember: Information listed on your COST OF EDUCATION Estimated Financial Aid Notice is not final. A standardized set of budgets is used as the basis for The types and amounts of awards are determining the cost of education at UCLA. The budgets subject to change. vary based on a student’s living arrangements while in school: living with parents or relatives, living on campus, or living off campus (away from family). In addition The 2003-04 Estimated Financial Aid Notice (FAN) to the room and board costs, each budget also includes is based on the information you and your parents registration fees, books and supplies, cost of health insur- provided on the Free Application for Federal Student ance, transportation and personal expenses. Students Aid (FAFSA). If any information changes subsequent who are classified as non-residents will be assessed to the submission of the FAFSA, the information on additional Out-of-State Tuition (see chart below). The this notice of eligibility will also change. (See Special 2003-04* budgets are listed below to offer you a basis Circumstances section, page 6.) for comparison. The process of determining a student’s eligibility for financial aid, commonly referred to as need analysis, EXPECTED FAMILY is regulated by the Congress and uses the information contained in the FAFSA. If the need analysis shows that CONTRIBUTION (EFC) the cost of education exceeds the amount that you and your family can contribute, then you will qualify for The EFC is the amount that you and your parents are financial aid based on need. expected to contribute toward your education over the course of the academic year. To determine the parental contribution, the need analysis formula utilizes parents’ Cost of Education income and assets, savings, taxes, and other mandatory - Expected Family Contribution living expenses. In addition, the age of the parent, his/her = Financial Need need for retirement income, number of dependents in the household, and number of dependents in college are 2003-2004 UCLA BUDGETS Living With Residence Halls Off-Campus Parents or Relatives Apartments U G U U G Fees $ 4,878 $ 5,809 $ 4,878 $ 4,878 $ 5,809 Books/Supplies 1,344 1,533 1,344 1,344 1,533 Room and Board 3,000 3,000 10,287 8,301 11,670 Transportation 1,902 2,373 780 1,503 2,322 Personal 1,638 2,142 1,428 1,638 2,208 Health Insurance 564 564 564 TOTAL $13,326 $14,857 $19,281 $18,228 $23,542 U = Undergraduate, G = Graduate Out-of-State Tuition = $11,322 graduates/$12,379 undergraduates * Amounts listed are subject to change. The Guide to Your Estimated Financial Aid Notice 3 considered. The student contribution is derived by analyzing Using EFM, UCLA initially assigns a set amount, self-help the income and asset information of the student. The component (work-study and loans) to all students. EFC figure is not an actual amount that you and University Grant funds are distributed to dependent your parents will be billed and have to pay, but is an undergraduates based on their parents’ contribution (PC). approximation of how much you and your parents Eligibility for independent undergraduates is based on should reasonably be able to contribute toward your their student contribution (SC).* educational expenses. Graduate students are not eligible for Pell Grants, Cal Student Contribution Grants or University Grants. These students should contact + Parent Contribution (if Dependent) the Graduate Division at (310) 825-1025 regarding other fellowships and grants. = Expected Family Contribution * At the time of this printing, the eligible PC and SC levels had not If at the time you completed the FAFSA you were required been determined. to provide only your and/or your spouse’s income and asset information, the EFC will be calculated using this You Should Know: Your award may not information. include all the different types of aid available. THE 2003-04 ESTIMATED FINANCIAL AID NOTICE ASSUMES THAT YOU: FINANCIAL AID PROGRAMS • Are a U.S. citizen or eligible non-citizen. Listed below are the different types of financial aid • Have a valid social security number. awarded through UCLA. Depending on the EFC, stu- dents will receive a combination of the different types of • Are registered with the Selective Service, if required. funds available. • Will be enrolled at least half-time in a degree program. Grants • Are not in default of any federal funds. Cal Grants A or B are funded by the State of California and are administered by California Student Aid Commission (CSAC). They assist low- and middle-income students with AWARDING OF AID registration costs and fees. Awards are based on financial need and grade point average. Currently, Cal Grants for Once the amount of your need (cost of education minus 2003-04 are estimated at $3,834. EFC) has been determined, your award will meet that need. Federal Pell Grants are based on need, and are awarded to The policy of the UCLA Financial Aid Office is to provide undergraduate students who have not earned a Bachelor’s similar types and amounts of aid throughout your educa- Degree. When you file a FAFSA, you are automatically tional career, depending on funding levels and the family’s considered for a Pell Grant. Awards range from $400 to ability to contribute. $4,050. Pell Grant eligibility is determined by criteria established by the federal government. For the 2003-04 academic year, the University of California uses the Educational Financing Model (EFM). University Grants are awarded to undergraduates who The goal of EFM is to provide sufficient grant support meet all filing deadlines. Eligibility for dependent under- so that the amount you have to borrow or earn is within graduates is based on their parents’ contribution. Eligibility a range that enables you to make steady progress toward for independent undergraduates is based on their student completing your degree and meeting any repayment contribution. Awards are based on financial need and obligations after graduation. availability of funds, and start at $300. The Guide to Your Estimated Financial Aid Notice 4 Students who enter UCLA as freshmen, may receive enrolled in school at least half time, or interest payments University Grants until they complete 120% of the can be made on a monthly basis. The loan interest rate is required units for their degree program (excluding AP variable (capped at 8.25%). An unsubsidized Federal units). For example: if 180 units are required to complete Stafford Loan can be made in conjunction with a subsi- your degree, you may receive University Grant until you dized Federal Stafford Loan as long as the maximum have completed 216 units. After the unit maximum is annual or aggregate loan limits for the Federal Stafford exceeded, no more University Grant will be awarded. Your Loans have not been exceeded. eligibility for continued grant funding will be determined Federal PLUS Loans (Parent Loans for Undergraduate prior to the Fall Quarter for the upcoming academic year. Students) are designed to help parents, stepparents and Federal Work-Study legal guardians meet the cost of education. Parents may be eligible to borrow up to the cost of education for the Federal Work-Study (FWS) is a program administered by academic year less any financial aid received. This loan is the Financial Aid Office. Eligibility is based on on-time available only to parents who do not have adverse credit FAFSA status and financial need. Money earned through histories as defined by federal regulation. The interest work-study is part of your total financial aid package. rate is variable (capped at 9%). Interest on the PLUS Both graduate and undergraduate students are considered. loan starts accruing from the date of disbursement. Students earn money for college costs through part- Repayment of this loan begins within 60 days after the time employment in approved on- or off-campus jobs. final disbursement. Students may work up to 20 hours per week during the quarter or semester. Federal PERKINS Loan You do not have to initiate any steps to secure the student and/or parent loans listed Federal Perkins Loan is a need-based loan program. The loan interest rate is 5 percent. Loan repayment and interest on your Estimated FAN. When your award begin nine months after graduation or dropping below is finalized the Financial Aid Office will half-time enrollment. The actual award amount will provide you with additional information be based on annual funding and UCLA’s Institutional about these loans and the application process. Awarding Policy. The current UCLA ceiling for under- graduates in the Perkins Loan program is $900-2500 We will also provide you with information (depending on grade level); for graduates, $1,800. that will assist you with selecting a lender. Federal Family Education Loan Program (FFELP) University Scholarships Subsidized Federal Stafford Loans are long-term, low-interest Scholarships administered by the Financial Aid Office are loans that are financed by participating banks and other awarded to students based on academic merit and financial lending institutions. The loan is available to undergraduate need. Scholarship eligibility is highly competitive and is and graduate students with financial need. The annual determined by evaluating both the academic data provided Subsidized Federal Stafford Loan amount is based on the by the Undergraduate Admissions Office and the financial student’s grade level and financial need. The loan interest data obtained from the FAFSA. rate is variable (capped at 8.25%) and adjusted annually. The enclosed notice of eligibility may not include the scholarships you Loan repayment begins six months after graduation or have applied for using the Undergraduate Admissions Application. dropping below half-time enrollment. The determination of scholarship eligibility is a long process, and requires awarding these dollars throughout the summer months. Unsubsidized Federal Stafford Loans are long-term, low- UCLA-based scholarships will appear on your final award notification. interest loans that are available to all students regardless If awarded, scholarships will usually reduce your self-help (loans and of income. The interest accrues while the student is work-study) awards. The Guide to Your Estimated Financial Aid Notice 5 COMPARING COLLEGE The Financial Aid Office will use the ‘my.ucla’ COSTS web page and/or e-mail to communicate with you throughout the academic year. It is When comparing financial aid offers from various imperative that we always have your correct institutions, consider the registration fees you will be e-mail address and that you monitor the paying along with your living expenses. Bear in mind Notices section on ‘my.ucla’ on a regular basis. that although this estimate is based on a standardized set of budgets/costs, your actual costs will vary depending on your individual spending habits. In general, the costs Additional Information Requests of attending a community college or a California State To finalize the processing of your financial aid award, the University will be lower than those of UCLA. Private Financial Aid Office may request additional information colleges and universities tend to be more expensive necessary to complete your file. If additional information than UCLA. is needed a request will be sent to you via Notices on the Also, compare the types of awards offered by each ‘my.ucla’ web page or via e-mail in mid-April. institution. Of your total package, what percentage is Verification Forms. UCLA is not required to participate grants? What percentage is loans? Scholarships and grants in the Federal Verification process; therefore, do not sub- are defined as “free money” and do not have to be repaid. mit verification paperwork if sent to you by the federal Work-Study is money earned by working while in college. processor. If you are selected for verification by UCLA Loans must be repaid. the verification form will be sent to you via Notices on the ‘my.ucla’ web page. Please be prepared to provide INITIAL COSTS NOT your and your parents’ 2002 federal tax returns. COVERED BY FINANCIAL AID Additional Documentation. When you fill out the FAFSA, the federal processor performs a series of data matches on your file. These matches include verification of your The following costs are related to the student’s education citizenship and/or Immigration and Naturalization expenses; however, they cannot be subsidized by financial Service (INS) status, registration with Selective Service, aid. The student and/or parent will need to make payment non-default on prior loans, and Social Security status. If arrangements. the processor is unable to perform a match, additional s $100 deposit with Statement of Intent to Register, due documentation must be submitted to the school. Page May 1 one of your SAR will inform you if there was a problem with any data matches. UCLA will send you a request s Any university housingdeposits/installments to guarantee for documentation necessary to resolve any mismatch. housing space Housing Status Verification. The Financial Aid Office may s Summer orientation fee confirm that the housing status you reported on your FAFSA is valid. Since the request for this information can APPLICATION PROCESSING come at any time during the year, please make sure that you keep dorm contracts, rental agreements or leases, and The Estimated Financial Aid Notice is your initial cancelled checks for rent. Billing can result from an im- notification from the Financial Aid Office. Once you properly reported housing status. Please notify our office submit your Statement of Intent to Register (SIR), immediately, if your housing plans are different from those confirming your intent to enroll at UCLA, the Financial indicated on your Estimated Financial Aid Notification. Aid Office will continue the processing of your application Additional Information. When your file is reviewed by for aid. a counselor, he or she may determine that additional The Guide to Your Estimated Financial Aid Notice 6 information is required. If so, you will be sent a detailed overall need but also how much of that need will be met letter or an e-mail specifying what is needed. You must with grant/scholarship funds. submit all information requested before your eligibility for aid can be determined. Incomplete forms will be Incorrect Data Reported on FAFSA returned to you for completion. If you made an error when filing the FAFSA application, or if you used estimated tax information that changed Electronic Financial Aid Notification after the tax returns were filed, updates to your FAFSA (eFAN) should be made in one of two ways: Once your file is complete, an electronic Financial s Make appropriate corrections on the web at Aid Notification (eFAN) will be generated before the www.fafsa.ed.gov (you will need your federal beginning of the Fall 2003 term. You will be notified via pin number). e-mail and/or ‘my.ucla’ when your eFAN is available. The s Submit a written request to the Financial Aid Office eFAN will include a quarterly breakdown as well as the indicating changes to be made. Provide documentation exact amount of your awards for the academic year. supporting the changes you have made. The Financial Your eFAN may differ from the estimate enclosed if: Aid Office will make the requested changes electronically. s You make any changes to the information reported on the FAFSA. CHECK THE STATUS OF YOUR FILE s The school makes data changes based on verification. PERIODICALLY s The Scholarships Office determines your scholarship Financial Aid Office: (310) 206-0400 eligibility (when the Estimated Financial Aid Notice is e-mail: email@example.com sent, scholarship information may not be available). the web: www.ursa.ucla.edu s You receive non-university scholarships. The Financial Aid Office will use the scholarship to replace self-help awards (work-study and loans) first. Grants may be Decrease in Family Income affected if the scholarship amount exceeds the amount If your family’s ability to contribute has been affected of self-help awards. Remember to report these awards by loss or change of jobs, disability or illness, legal on your eFAN. separation, divorce, or death, you should file the Petition An eFAN Guide will be available along with the eFAN, to Use Projected Year Income form. This form can be which will explain all awards being offered, and how to obtained at the Financial Aid Office or on our website finalize your acceptance of those awards. at www.fao.ucla.edu. Your petition will be reviewed by a financial aid counselor, who will adjust your eligibility for aid based on the results of this review. SPECIAL CIRCUMSTANCES Other Factors Your Estimated Financial Aid Notice is based on the In addition to circumstances listed previously, the following information provided by you and/or your parents at the costs may be considered as the basis for filing an appeal: time the FAFSA was filed. We are aware, however, that in certain cases the data listed on the FAFSA may not s Current excessive medical costs, only if not covered accurately represent your family’s financial circumstances. by insurance. In those cases, an appeal letter should be filed directly s Costs of special education made necessary by learning with the Financial Aid Office. These circumstances have or physical disability of parents’ dependents. a direct effect on the Expected Family Contribution (EFC) calculation and, therefore, affect not only your s Costs of repair of damages caused by natural disasters such as earthquakes, floods, etc. Only expenses incurred The Guide to Your Estimated Financial Aid Notice 7 during the current year and not covered by insurance Students must meet various agency restrictions which will be considered. may include academic achievement, special talent, leader- ship ability, or group affiliation. Note: Outside agency If your circumstances include any of the above, you should scholarships must be reported to the Financial Aid submit a detailed letter of appeal along with documentation Office. These awards are subtracted from financial need, supporting your circumstances to the Financial Aid Office. and will generally replace your self-help (loans and/or Circumstances That Cannot Be Used work-study) eligibility. as Basis for Appeal Scholarship Resource Center Certain circumstances, although affecting a family’s finan- All students should apply for scholarships, cial ability to contribute, cannot be used by the Financial regardless of financial need. Aid Office to affect eligibility. Some of these are: The UCLA Scholarship Resource Center (SRC) helps s Partialloss of income, not the result of unemployment. students search for scholarships, regardless of their financial For example, loss of overtime pay or reduction in hours need. The SRC offers a number of services to assist worked unless the result of illness. students in the scholarship process: a library of scholarship s Excessive consumer/credit card debt. books, counseling, search services, and workshops. The Center is located at 233 Covel Commons and is open s Wage garnishments due to back taxes, back child or Monday through Friday, 11:00 a.m. to 6:00 p.m. The spousal support. SRC can also be reached at (310) 206-2875 or via e-mail s Costs of private school tuition unless special education at firstname.lastname@example.org is necessary because of a disability. Also, the Computer Scholarship Search offers current s Prenuptial agreements stating that a stepparent is not information regarding University and outside agency responsible for a stepchild’s education. Federal regulations scholarships through the “Bruin On-Line” services free of do not recognize prenuptial agreements and if remarried, charge to all UCLA students. Students, faculty, and staff both parent and stepparent’s information must be reported. can also use the “Info UCLA” workstations available at UCLA’s Powell Library. Search for scholarships using the s Parents’ refusal to contribute toward their child’s educa- Internet at: www.salliemae.com or www.fastweb.com/ tion, if said child has been determined to be dependent. Parental contribution, calculated for all dependent Employment Options students, measures parents’ ability, not their willingness, to contribute toward the student’s educational expenses. The UCLA Career Center helps students find jobs both on and off campus. The Center is located at 1158 Career Center Building; the telephone number is (310) 825-2981. ALTERNATE SOURCES The jobs available through the Career Center here are not available for Federal Work-Study. OF AID The Associated Students UCLA (ASUCLA) operates student publications, 6 stores, 12 restaurants and the Non-University Scholarships Student Union on campus. You can call them at (310) You must notify the Financial Aid Office 825-7711. of all outside funds for which you are eligible. The UCLA newspaper, The Daily Bruin, includes help Non-university scholarships (outside agency scholarships) wanted advertisements for the local area. Pick up a free are funds from various organizations, agencies, companies, copy of the Bruin at locations all over campus or find it or private individuals and are not funded by the University. on line at www.dailybruin.ucla.edu. The Guide to Your Estimated Financial Aid Notice 8 Private Loans students are in school) are not identical. You should know that these loans rely on creditworthiness and Private loans are available for students who have frequently require co-signers. The Financial Aid Office received the maximum award amounts under the FFELP has information that will assist you in researching and program and still require additional funding. These loans selecting an alternative loan source. For additional are sponsored by banks and private lending institutions. information, see the Private Loan Comparison Chart, Though this market is a competitive one, these loans are available at the Financial Aid Office or on our website not federally regulated, and therefore the interest rates at www.fao.ucla.edu. We recommend that you do not and repayment schedules (some of which begin while apply for private loans until you receive your electronic FAN for 2003-04. Printing of UCLA’s The Guide to Your Financial Aid Notification compliments of Sallie Mae and our lender partners.