00:00:00
Financial Focus: Understanding your aid package
Nancy Alderete
05:55:22 PM
Hey Lars, my audio wasn't working yesterday...how can I test my audio?
Lars McBride
05:55:51 PM
Hi, for staff, can we please use a Skype chat?
Lars McBride
05:57:13 PM
Or something else so it's not public.
Lars McBride
05:58:56 PM
click Broadcast Audio and test it, but don't hit Connect
Trisha Nicole Yasay
06:12:02 PM
Can appeal letters be reviewed before May 1 confirmation deadline due to Covid19?
Daisey Jeannette Sandoval
06:13:36 PM
@Trisha Yes, you may submit a preliminary circumstance appeal to receive an estimate before the May 1st. You may submit a statement explaining your circumstances through Contact an Expert. Keep in mind you would need to submit the official appeal in July.
Alayna Gilbert
06:13:45 PM
Have merit scholarships already been awarded? What is the criteria to get a merit based scholarship?
Courtney Franks
06:15:16 PM
@Alayna Some merit based scholarships have been offered, but many more scholarships will be awarded over the summer. Students must have a minimum 3.25 GPA to be considered
Aditya Srinivas
06:15:43 PM
Is there a deadline for completing all the incomplete requiements?
Jamila Brown
06:16:17 PM
@Aditya you would need to submit any incomplete requirements by the July 15 deadline
Trisha Nicole Yasay
06:16:48 PM
Will E-verify submit tool (for req'd documents) be available in my account before May 1? Will UC Davis follow other colleges extending decision date to June 1?
Ainsley Mayo
06:17:08 PM
I was also wondering about merit based scholarships specifically for out of state students.
Daisey Jeannette Sandoval
06:18:03 PM
@Trisha The verification tool becomes available 3 business days after you submit your SIR.
Kristen Huang
06:18:16 PM
1. What are the interest rates for the parent plus loan, federal sub loan, and federal unsub loans? 2. What does the expected family contribution (EFC) mean? 3. Is the loans borrowed through the UC Davis financial aid office or the bank? 4. If I accept the 3 loans and deicide to not attend UC Davis in the month of July what will happen to the loans that I accepted already before the deadline? 5. What are the options on paying the total cost of attendance for incoming out of state freshman? Is it a one time pay, monthly pay, or semester pay? 6. The award I received is the final with all the grants and scholarship on it? 7. Does the grants and scholarship come out before the award packet is received? 8. Is the total estimated cost of attendance the amount I will spend through the school year?
Courtney Franks
06:18:17 PM
@Ainsley out-of-state students are eligible for UC Davis scholarships, but we won't be awarding scholarships until after the SIR deadline
Liam Mitchell
06:18:25 PM
Do you need to submit your SIR before getting merit scholarships?
Daisey Jeannette Sandoval
06:18:50 PM
@Liam Yes, merit awards are awarded to students after they SIR.
Nicole Dulin
06:19:13 PM
How can a parent appeal their students financial aid offer if they can not discuss the Expected Family Contribution over the phone?
Madeline Wilson
06:19:36 PM
If I get a scholarship from one of the college of letters and sciences but I switch to one of the colleges within Davis, will I lose the scholarship?
Daisey Jeannette Sandoval
06:19:39 PM
@Nicole You may submit a preliminary circumstance appeal to receive an estimate before the May 1st. You may submit a statement explaining your circumstances through Contact an Expert. Keep in mind you would need to submit the official appeal in July.
Daisey Jeannette Sandoval
06:20:38 PM
@Mashly Yes, the interest rates for 2020-2021 will be available July 1st.
Courtney Franks
06:20:41 PM
@Madeline if you are awarded a scholarship that is restricted to students in a specific college, but you plan to change colleges it's important to contact the scholarships office to let us know prior to accepting the award. We will work with you on this issue if it arises
Brinkley Webb
06:21:12 PM
Where is the link to apply for the UCD scholarships? We saw the info talking about the availability but not an application portal?
Trisha Nicole Yasay
06:21:20 PM
If awarded, what's expected interest rate for "university student loan"?
Daisey Jeannette Sandoval
06:21:44 PM
@Trisha The interest rate is 5% for the University Student Loan.
Courtney Franks
06:22:08 PM
@Brinkley You UC Application serves as your scholarship application for your first year at UCD. You will need to complete a scholarship application for your second year that will become available on Oct 1, 2020
Emely Herrera
06:22:20 PM
Is there a way to appeal for more money ?
Ainsley Mayo
06:22:22 PM
Can incoming freshmen apply for departmental scholarships?
Daisey Jeannette Sandoval
06:23:07 PM
@Emely If your EFC does not reflect your families current income you may submit a preliminary family contribution appeal.
Courtney Franks
06:23:24 PM
@Ainsley You UC Application serves as your scholarship application for your first year at UCD
Abigahil Dimas Garcia
06:23:32 PM
When will we have a finalized financial packet for the academic year?
Alayna Gilbert
06:23:54 PM
Do you know when merit scholarships will be received over summer for out of state students? I would love to go to Davis but I need to know what scholarships I have received before I commit.
Lars McBride
06:24:34 PM
@Trisha - regarding decision date - As of now the UC system has decided to stick to the May 1 deadline.
Kara Her
06:24:41 PM
When you claim grants/loans, where does the money go? Do you get them on like a card? Or is it managed through the financial office?
Daisey Jeannette Sandoval
06:24:54 PM
@Abigahil If you have received your financial aid package that would be your package unless your financial situation has changed. If you have not been received your package please contact us directly through Contact an Expert.
Courtney Franks
06:25:21 PM
@Alayna Unfortunately, we don't have a specific date that all scholarships will be awarded by. We will begin award in July and continue into the fall quarter as funding is available
Sage Farrow
06:26:48 PM
For scholarships that are checks, should the organization make it out to the student or UC Davis?
Daisey Jeannette Sandoval
06:27:30 PM
@Sage Checks are typically mailed to the Cashiers Office. Please visit their website for the mailing address.
Aditya Srinivas
06:27:54 PM
If we accept the financial aid, would there be an EMI which needs to be paid on monthly basis or should it be paid after 4 yrs?
Daisey Jeannette Sandoval
06:28:10 PM
@Aditya Can you define what EMI is?
Sydney West
06:28:24 PM
i just sent an appeal for out of state financial aid, hoping I might be able to get more (CA resident for 16 years but left as a junior in hs). If I'm denied, can I apply for substantial scholarships and if so, do I have a likely chance of getting that 65+k in combined scholarships?
Daisey Jeannette Sandoval
06:29:00 PM
@Sydney Our scholarships range frm $1000 to $13000. We highly encourage you apply for outside scholarships.
Jessica Melo
06:29:08 PM
Is there an email I can have access to in order to directly discuss my financial situation?
Daisey Jeannette Sandoval
06:29:44 PM
@Jessica Please contact us through Contact an Expert and direct your question to financial aid.
Trisha Nicole Yasay
06:29:49 PM
For sensitive PDFs (upload thru verification tool), can I encrypt them with WinZip & call you codes to open at financial aid office end?
Daisey Jeannette Sandoval
06:30:02 PM
@Trisha Yes, you could do this.
Brinkley Webb
06:30:04 PM
When will additional scholarships through Davis “from the first year app” be awarded?
Catalina French
06:30:14 PM
Should we still complete the requirements for each student loan, even if we don't plan on accepting every specific loan offered? (or do we only complete requirements for the aid we plan to accept?)
Emely Herrera
06:30:19 PM
Can freshman apply for apartments?
Daisey Jeannette Sandoval
06:30:35 PM
@Catalina You do not have to complete the requirements unless you accept the awards.
Courtney Franks
06:30:43 PM
@Brinkley We will begin awarding merit-based scholarships in the summer
Aditya Srinivas
06:30:53 PM
I have been hearing that due to covid, the federal interest rates will be reduced, any update on this?
Veronica Zendejas
06:31:05 PM
@emely - yes you can look for apartments off campus.
Daisey Jeannette Sandoval
06:31:14 PM
@Aditya Interest rates will be released July 1 2020.
Trisha Nicole Yasay
06:31:31 PM
@Daisey Is 5%p.a univ.student loan payable for how long? Is there difference w/ Fed.Unsubsidized terms (except lender is college, not Fed)?
Emely Herrera
06:31:45 PM
Does Davis have communal bathrooms ?
Veronica Zendejas
06:32:21 PM
@ emely- yes we do have communal bathrooms, but it depends on the building.
Daisey Jeannette Sandoval
06:33:16 PM
@Trisha Please visit our website under the "Loans" section to view information on each of these loans. The University Loan is similar to the Federal Direct Subsidized Loan in regard to repayment. The Federal Direct Unsubsidized Loan accumulates interest while you are in school.
Kara Her
06:33:25 PM
when we claim a loan on the my awards, will it be that exact amount listed?
Mai Moua Vang
06:33:27 PM
@Kristen Huang: 1. What are the interest rates for the parent plus loan, federal sub loan, and federal unsub loans?
Interest rates vary each year. These are the current interest rates for 2019-2020. https://studentaid.gov/understand-aid/types/loans/interest-rates
2. What does the expected family contribution (EFC) mean?
EFC is a number used by your school to calculate how much financial aid you are eligible to receive. https://studentaid.gov/complete-aid-process/how-calculated#efc
3. Are the loans borrowed through the UC Davis financial aid office or the bank?
The loans are from lenders that work with the Department of Education and UC Davis.
4. If I accept the 3 loans and decide to not attend UC Davis in the month of July what will happen to the loans that I accepted already before the deadline?
If you decide to not attend UC Davis before the first day of instruction during the fall quarter, then the loans will not pay out. However, if you leave after the first day of instruction, the loans would have paid out to you so you will have to pay it back to UC Davis.
Teresa Fundter
06:33:44 PM
My current aid package does not include my athletic scholarship. When would I expect to see an updated award package that would include the athletic scholarship?
Daisey Jeannette Sandoval
06:34:33 PM
@Kara There are loan fees when your loan disburses. For Federal Student Loans it typically is around $10. For Parent PLUS Loan the loan fee ranges.
Mai Moua Vang
06:34:53 PM
@Kristen Huang: 5. What are the options on paying the total cost of attendance for incoming out of state freshman? Is it a one time pay, monthly pay, or semester pay?
You are billed each quarter and there is three quarter in the academic year. More information on payment can be found here: https://afs.ucdavis.edu/student-resources/accounting/mybill/dpp
6. The award I received is the final with all the grants and scholarship on it?
Yes that is your accurate aid package.
6. Does the grants and scholarship come out before the award packet is received?
The grants and scholarships, if eligible, come out at the same time the aid package is released.
7. Is the total estimated cost of attendance the amount I will spend through the school year?
It is your estimated cost it takes to complete the academic year. The tuition is accurate however the cost such as books can vary each student. Students in STEM usually pay more for books and lab materials compared to someone who studies sociology.
Salvador Garcia
06:34:59 PM
Do we have to accept the University Student loan and Fed Direct Subsidized Loan before the May 1st deadline?
Courtney Franks
06:35:22 PM
@Teresa can you please send a message through the Contact and Expert link, https://my.ucdavis.edu/ask_us/, and select Undergraduate and Prestigious Scholarships. We can have a member of our team look into the athletic scholarship
Daisey Jeannette Sandoval
06:35:25 PM
@Salvador No we encourage students to accept their loans after July 1st when interest rates are set.
Trisha Nicole Yasay
06:35:43 PM
To @Daisey, @Joy & others, truly grateful of your time for helping us out. Thanks so much
Viktoria Kate Pimentel
06:35:51 PM
If I accepted the work-study eligibility certificate, would I be able to still do work-study in the spring quarter if I didn't do it in the fall and winter?
Daisey Jeannette Sandoval
06:36:12 PM
@Viktoria Yes you could.
Kristen Huang
06:36:13 PM
Thank you and stay safe.
Orli Algranatti
06:36:13 PM
Where can I find outside scholarships?
Courtney Franks
06:36:57 PM
@Orli you can find a list of outside scholarships on our website, https://financialaid.ucdavis.edu/scholarships/outsidescholarships
Alayna Gilbert
06:37:14 PM
What is the largest merit scholarships a student can get?
Courtney Franks
06:37:42 PM
@Alayna Scholarships range from $100 to $13,000 per academic year
Abigahil Dimas Garcia
06:37:49 PM
If we am want to start paying loans while in college, who do I pay? And will the loan giver communicate with the University over this matter or will I?
Chloe Sewell
06:38:17 PM
What exactly are merit based scholarships?
Daisey Jeannette Sandoval
06:38:43 PM
@Abigahil Your loan lender would be assigned once your loan disburses. Once it has disbursed, you would directly find your loan lender at NSLDS.ed.gov and contact them directly.
Catalina French
06:38:57 PM
Should we still complete the requirements for each student loan, even if we may not accept every specific loan offered?
Courtney Franks
06:39:18 PM
@Chloe merit based scholarships are funds that do not need to be repaid that are awarded based on academic achievement. We require a minimum 3.25 GPA to be considered for scholarships
Daisey Jeannette Sandoval
06:39:24 PM
@Catalina You do not need to complete the requirements for loans you are not accepting.
Chloe Sewell
06:39:47 PM
Where are the best websites to look for outside scholarships?
Kara Her
06:39:54 PM
So as of right now and deadlines, all we have to worry about is SIR and SLR? The loans and financial stuff will be handled throughout the summer?
Martin Yossifov
06:39:56 PM
Where can we find the scholarships link again?
Catalina French
06:39:58 PM
what is the title IV requirement?
Jacqueline Cadena Jasso
06:40:00 PM
Where will this recording be posted after? I missed the first few minutes
Salvador Garcia
06:40:00 PM
Do we have to accept the loans before May 1st?
Liam Mitchell
06:40:05 PM
Thank you!
Jamila Brown
06:40:07 PM
The recording will be published here: https://ua.ucdavis.edu/portal/AdmitWebinars
Jamila Brown
06:40:27 PM
It will be available within 24 hours
Daisey Jeannette Sandoval
06:40:27 PM
@Jaqueline The webinar will be posted in 24 hours at:
Daisey Jeannette Sandoval
06:40:37 PM
[6:39 PM] Daisey Jeannette Sandoval
https://ua.ucdavis.edu/portal/AdmitWebinars
Aidan Clay
06:40:42 PM
The overall net cost will factor into the decision to come to Davis, The decision deadline is 5/1. However the appeals and scholarship awards happen over the summer. how to you expect incoming students to factor in net cost if your timeline doesn't match the decision timeline?
Courtney Franks
06:41:17 PM
@Chloe https://financialaid.ucdavis.edu/scholarships/outsidescholarships
Kristen Huang
06:41:34 PM
When is the deadline to accept financial aid?
Alayna Gilbert
06:41:58 PM
What is the largest merit scholarships a student can get?
Courtney Franks
06:42:15 PM
@Alayna Scholarships range from $100 to $13,000 per academic year
Kristen Huang
06:42:31 PM
1. What are the interest rates for the parent plus, federal sub loan, and federal unsub loan?
Trisha Nicole Yasay
06:42:48 PM
Is there any loan that penalize prepayment? Loan payments are not fixed in amortization, right?
Daisey Jeannette Sandoval
06:42:48 PM
@Kristen They will be released on July 1st.
Noe Porfirio Lopez
06:42:50 PM
What exactly is CalFresh and how is it beneficial to us the students? I'm confused as to how it helps.
Trisha Nicole Yasay
06:43:04 PM
If awarded, is state middle class sch. guaranteed throughout college life? If renewable, what conditions needed to earn it every year?
Aidan Clay
06:43:08 PM
How do you recommend we factor in scholarship or appeals into our decision if they are after the 5/1 deadline?
Trisha Nicole Yasay
06:43:09 PM
Will promissory notes be signed/accepted without one-to-one (facetime) meeting? Will it be done now thru online telecon or something?
Trisha Nicole Yasay
06:43:09 PM
@Courtney Franks, is minimum 3.25 GPA based on HS subjects, or college classes?
Daisey Jeannette Sandoval
06:43:29 PM
@Trisha Please send us a message through Contact an Expert or call our phone lines to address all your questions.
Mashly Martinez
06:44:55 PM
Do the loans have an interest rate?
Jamila Brown
06:45:28 PM
Mashly you can find more information on the interest rates here: https://studentaid.gov/understand-aid/types/loans/interest-rates Typically they change every July 1