It’s what it says from my experience. Tuition is fully covered which essentially removes the $13,000+ tuition fees from the (inaccurately low) estimated COA.
For most people in that income bracket, myself included, the other associated expenses are still a hefty cost. We still have to finance around $10-20k a year. For instance…on-campus housing options average $15k a year and nearby off-campus housing normally doesn’t go under 10k annually. The UC Health insurance plan is an additional $2k as well if you don’t qualify for a waiver.
As far as limits, they are extremely stringent on residency (due to the amount of money at stake) and if you receive any outside scholarships/income they seem to just take it out of the B&G allocation so your never going to be at a net positive financially. They are also very strict on eight semesters (four for transfers) so definitely avoid any extra semesters.