100% implied tax rate - does this make sense?

<p>University of California offers need-based aid. [UC</a> Blue and Gold Opportunity](<a href=“http://www.universityofcalifornia.edu/blueandgold/]UC”>Blue and Gold Opportunity Plan | UC Admissions)</p>

<p>From the UC Berkeley website:

</p>

<p>Here’s the list of grants offered at UCB, with federal, state, and institutional funding: [UC</a> Berkeley Financial Aid Office: Undergraduates Types of Aid Grants](<a href=“http://students.berkeley.edu/finaid/undergraduates/types_grants.htm]UC”>http://students.berkeley.edu/finaid/undergraduates/types_grants.htm)</p>

<p>UCB scholarships are here; only the Regents award does not consider need:
[UC</a> Berkeley Financial Aid Office: Undergraduates Types of Aid Scholarships](<a href=“http://students.berkeley.edu/finaid/undergraduates/types_scholarships.htm]UC”>http://students.berkeley.edu/finaid/undergraduates/types_scholarships.htm)</p>