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What's New in Financial Aid and Scholarships

SPRING 2018 FINANCIAL AID DISBURSEMENTS

You can review the types of aid you may be eligible for and the status of your aid by visiting the My Finances section of CalCentral. The Financial Aid and Scholarships Office will begin disbursing the majority of financial aid for Spring 2018 on Monday, January 8 for eligible students. After your aid is applied towards your billing account, you will be able to see it reflected on the Billing Summary in CalCentral.

Note: If your financial aid payments exceed your charges, the extra funds will be issued to you as a refund about one week after payments are posted. Refunds are typically issued 2-3 business days before the beginning of each term. The actual timing of your refund depends on when your financial aid is applied to your account.

 
2018-19 Financial aid applications available october 1

Each October the Free Application for Federal Student Aid and the California Dream Act Application become available for the next academic year. It is important to complete your application as soon as possible to meet all financial aid deadlines. The application priority deadline is March 2. If you file after March 2, some types of financial aid may be limited. For more information, visit the FAFSA website and the Dream Act website.

Our staff is here to guide you and your family through the financial aid process from start to finish. Please complete your aid application and allow the Financial Aid and Scholarhsips Office to determine your eligibility for federal, state and institutional support that can support you in achieving your educational goals. 

Note: The IRS Data Retrieval Tool is available for FAFSA filers for the 2018-19 application cycle per the Department of Education. To ensure the accuracy of your FAFSA information, we strongly encourage students and families to use the IRS Data Retrieval Tool when completing the 2018-19 FAFSA application. 

 

WHAT'S THE FASTEST WAY TO RECEIVE YOUR FINANCIAL AID REFUND?

If you have not already signed up for Electronic Funds Transfer (EFT) to receive your refunds through direct deposit, you can still sign up via CalCentral! Activation may take up to seven business days. Until EFT is activated, paper refund checks are printed and held for you to pick up at Cal Student Central. Don't wait in line for a paper check this semester!

 

FEDERAL direct loan origination fees changing October 1

Per federal regulation, the loan origination fee on Federal Direct Loans that disburse on or after October 1, 2017 will be changing. For Federal Direct Subsidized and Unsubsidized Loan, this fee will change from 1.069% to 1.066%. The loan origination fee for Federal Direct Parent PLUS and Graduate PLUS Loans will change from 4.276% to 4.264%. Note: To remain federally compliant, we will be updating loans to include the new origination fee amounts between Thursday, September 28, and Monday, October 2. During this period, you will be unable to accept or revise any student loans in Cal Central. We apologize for any inconvenience this may cause.

 
FEDERAL PERKINS LOAN PROGRAM ENDING SEPTEMBER 30, 2017

The Federal Perkins Loan program is officially ending on September 30, 2017 unless legislative action extends the program. To receive your 2017-18 Perkins Loan, the fall portion of your loan must disburse no later than Friday, September 29, 2017. If you meet this deadline, we will disburse the spring portion of your Perkins Loan next semester if you meet all other eligibility criteria. If the fall portion of your loan does not disburse by this deadline, your Perkins Loan will no longer be available to you this academic year. Please contact Cal Student Central in 120 Sproul Hall if you have questions.

 
financial aid and student health insurance plan (SHIP) faqs

All students are required to have insurance at UC Berkeley. Not all students or families understand how enrolling in SHIP may impact their financial aid. Review our Financial Aid and Student Health Insurance Plan (SHIP) FAQs page for more information on how enrolling and/or waiving out of SHIP may impact your awards.  

 

Money management resources available

Need help managing your money? Bears for Financial Success is a peer-to-peer program on campus to help you manage your personal finances. You can schedule an appointment with a peer mentor or check out our website for more information. 

 

SAtisfactory academic Progess policy changes ​

The Satisfactory Academic Progress (SAP) policy changed beginning in 2017-18. Please review the SAP page for updates to this important policy.

 

CONSORTIUM PROGRAMS ​

Beginning in Summer 2017, funding for consortium programs will include only UC consortium programs, like Education Abroad ProgramSummer Intercampus and for those domestic exchange programs where UC Berkeley registration is required. Any non-UC consortium program options will no longer be funded with federal, state or institutional aid. We encourage students to research programs well in advance and speak to a financial aid counselor prior to committing to any non-UC consortium program if you have questions.

 

Office closures

​Financial Aid and Scholarships Office counseling services will be limited on Thursdays through Fall 2017. We appreciate your patience and understanding.

 

This page was last updated on November 27, 2017