CAL financial aid summary

karabear1
Fri, 02 May 2008 20:22:34 +0000

Chickadee is right-- the Cal grant will lower your UG scholarship. You will be able to get more than your financial need (calculated by your efc)

Maybe try e-mailing the financial aid office and ask if you can fill the gap in your financial aid with unsubsidized loans. (unsubsidized loans are not based on need and they acquire interest while you are in school).

Loans do not need to be payed back until after you graduate. Subsidized loans do not accrue interest until after you graduate, while unsubsidized loans do. You will have to fill out a promissory note when you are ready to take the loan-- essentially a contract stating that you abide by the terms of the loan. The school will disburse any refunds in mid august after they have subtracted any fees for housing/tuition.

Do you have any other questions on how loans work?

I’m surprised that you got less money from Cal than UCLA. Last year it was the opposite for me.