Financial Aid and Scholarships

Financial Aid and Scholarships

Partners in Success Key Points

1) Communicate and collaborate with your student and our office.

2) Action must be taken by meeting all required deadlines. Timing is everything!

3) Top priority for student to regularly check UC Merced email account throughout entire calendar year.

What is Financial Aid?

Money given, paid or loaned to help your student pay for their college education

Financial Aid Application• Free Application for Federal Student Aid (FAFSA)

• Required for federal, state and institutional need-based aid• Must re-submit between Jan. 1st and Mar. 2nd of every

year!

OR if applicable, file

• Continuing Students:Must also submit a Continuing Student Scholarship Application to be considered for scholarships.

Also due March 2nd

• California Dream Act Application • Required for state and institutional need-based aid• Must re-submit between Jan. 1st and Mar. 2nd of every

year!

Notification: One paper notification then e-mails

UC Merced Direct Costs Worksheet

General Tuition/Fees

$6,5351

plus On-Campus Housing (if applicable) 75182

minus Total Grants/Scholarships (divided by 2) -10,000

minus Total Loans minus loan fees (divided by 2) -1731

minus SIR Reservation -100

minus Housing Reservation -300

equals Amount owed $1922

The Bottom Line4) How much do I owe?

1 Estimated-actual fees may vary and Non-resident students pay an additional amount

2 Based on double occupancy, Meal Plan A

Fall Semester

MY.UCMERCED.EDU

My Checklist

Parent Authorization for Information

Student must authorize us to speak to parents regarding their financial aid. Only has to be done one-time.

Parent PLUS Loan1) If you are planning to borrow a PLUS loan,

complete each step of the process:a) Have your student accept the loan in their

MyFinancialAid siteb) Complete PLUS Request Process and Master

Promissory Note with the Department of Education

2) Parent information on our website:http://financialaid.ucmerced.edu/node/73

3) Outside Aid needs to be coordinated with our office (i.e. outside agency scholarships). It is important that we know about these.

www.studentloans.gov

Disbursement of Aid

• Money is disbursed in at least two disbursements:– Half in Fall– Half in Spring

• First Disbursement:– 10 days prior to the first day of instruction

• Money disbursed directly to student account– Applied to allowable charges first

• Any remainder will be refunded to student

Partners in Success Key Points

1) Communicate and collaborate with your student and our office.

2) Action must be taken by meeting all required deadlines. Timing is everything!

3) Top priority for student to regularly check UC Merced email account throughout entire calendar year.

Final Thoughts•Students need to regularly check e-mail and visit MyFinancialAid often for updated information.

•“Like” us on  Facebook & “follow” us on  Twitter.

•Students receiving any type of financial aid (loans, grants, scholarships, etc.) should not withdraw without talking to the Financial Aid Office. We are required to recalculate a student’s eligibility based on the number of days they attended and the student may owe money back to the University.

• Make the Grade, Keep the Aid!