Financial Aid

Don’t let the cost of a UC education keep you from applying. UC offers an extensive financial aid program because we want every student we admit to be able to attend regardless of economic circumstances. In fact, most undergraduates receive some financial assistance, including grants, loans, work-study awards and scholarships.

Net Cost of a UC Education

Because grants don’t have to be repaid, they directly lower the cost of UC for many undergraduates. University students receive grant awards through many programs, including UC’s own University Student Aid Program, the Federal Pell Grant and the Cal Grant, a state-funded award program that helps students pay for college expenses. Our grant program is designed to ensure that students need to work no more than part time while enrolled and can keep borrowing within reasonable limits so that payments upon graduation are manageable.

UC, like many colleges and universities throughout the country, uses a federal formula for determining your grant assistance. The calculation is based on financial information you and your parents supply on your Free Application for Federal Student Aid (FAFSA).

The amount not covered by need-based grants is your net cost. The chart below illustrates the net cost in 2008–09 for four students with different financial resources. Their families paid their net costs through a variety of means.

Financing the Net Cost

Most families use a combination of current earnings and savings to pay their share of the cost of a college education. For many families, though, the combination of savings and earnings isn’t enough to cover all of their net costs. UC families have access to several financing tools, including student and parent loans, subsidized part-time student jobs and deferred payment plans, to help them manage their costs.

Loans: UC  administers loan programs to help students and parents finance the cost of attendance. In general, these are federal programs that charge below-market interest rates and delay repayment until six months after you stop attending school. If you are eligible, you may receive subsidized loans, which do not accrue interest while you are enrolled. Students at all income levels can borrow from the unsubsidized load program, and there is a federal loan program (PLUS) for parents.

Employment: Many students put earnings from summer jobs toward covering their net cost. In addition, part-time jobs are available on and off campus during the school year for students who are eligible to work in the United States. Each UC campus has a student employment office that compiles job listings and helps students find work. Most UC students earn between $8 and $12 per hour.

Federal work-study funds help employers pay for part of the salaries for student workers, but jobs are available to students whether or not they are awarded any work-study funds.