Some Questions about Loans and Work-Study

<p>Can I apply for work-study even though it is not listed in my ‘awards’ on my application profile on UCD’s website? </p>

<p>Also, is there a limit to how much I can take out in loans? If my parents have bad credit, how does it affect me and my ability to take out loans? </p>

<p>Do student loans acquire interest like regular loans, and when does it gain interest? Is it only after I graduate or while I am still in school? If I take out money in loans during my undergrad years, does that mean I have to start paying off my loans when I am in grad school? </p>

<p>I’m very confused, can someone please explain some of these things to me?</p>

<p>For most of your questions I would email the Financial Aid office; <a href="mailto:undergradfinaid@ucdavis.edu">undergradfinaid@ucdavis.edu</a> . I believe you need to contact them regarding work study anyways.<br>
I can answer the loan question. All loans accrue interest including student loans. If the loan is subsidized, however, the interest will be paid for you while you are enrolled in school. Once you graduate you will start to pay the loan and you will start to pay the interest. Unsubsidized loans will accrue interest while you are in school and will be added to the amount of the loan or you can pay the interest while you are in school. Please see <a href="http://financialaid.ucdavis.edu/undergraduate/types/Loans.html#subsidized%5B/url%5D"&gt;http://financialaid.ucdavis.edu/undergraduate/types/Loans.html#subsidized&lt;/a> for more information.</p>

<p>good/bad credit can effect the interest rate on your loans.
keep your loan amount to the minimum.</p>

<p>Thank you. I'm trying to work out the financial aid stuff. I think I might have made a minor error on my FAFSA. So I'm contacting the financial aid office to see what I can do. I'm aiting for our official 2007 tax returns. The woman I spoke to on the phone earlier today at UCD's financial aid office told me to fill out the 08-09 Verification Form.</p>

<p>Does anyone know how they treat special circumstances? My main provider is my step-dad (my mom doesn't work). He basically provides for me, my mom, my brother, and his mother who lives in Europe. My mother is going back to school next fall to help her finally find a job. The $80,000 my step-dad earned has gone into paying off loans, paying for mortgage, insurance, car payments, etc. Even worse, he lost one of his jobs and his salary is going to be cut in half, pretty much. Will informing the financial aid office of these things help with anything?</p>

<p>we have a crazy high mortgage
and i've tried to seek help by calling the financial aid office
they are very strict about this stuff and also told me that they cannot offer me any help based on these circumstances
what demons</p>

<p>Is there a reason why you would participate in a work-study program rather than just getting a regular job?</p>

<p>Sometimes your financial aid decreases when you make more than a certain amount of money. Work-study however doesn't count. </p>

<p>But since I'm not getting much aid anyway, I will most likely be doing that. =]</p>

<p>From what I've heard, one big advantage of work-study is that they respect your academic constraints. </p>

<p>If you have a billion midterms and a term paper to do, they may let you have time off, whereas they'd be less likely to do this at an outside job.</p>

<p>Work-study would definitely offer some advantages then. Hopefully I'll attain eligibility for that.</p>