PROSPECTIVE STUDENT QUESTIONS
Do I have to apply for financial aid every year?
Yes. Your financial situation must be reassessed each year.
How do I apply for financial aid?
You must complete the Free Application for Federal Student Aid (FAFSA). If you are a continuing applicant, you will be able to access and complete a renewal FAFSA on the web if you know your FAFSA PIN. If you are unable to access the renewal application you can complete a new FAFSA on the web or via paper (paper applications are available at the Service Counter).
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Why do I need a FAFSA PIN?
The FAFSA PIN allows you to:
• Sign your application electronically (parents can also sign electronically with their PIN)
• Make corrections to your application
• Access your renewal application (continuing applicants)
• Access your Student Aid Report (SAR) on the web
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How do I obtain a FAFSA PIN?
If you forgot your PIN or need to register for one, go to http://www.pin.ed.gov/ .
How do I get a copy of my Student Aid Report (SAR)?
If you filed electronically you may print a copy of your SAR off the web, using your PIN. If you completed a paper application you need to call 1-800-4FEDAID to obtain a free copy of your SAR.
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What is the deadline to apply for financial aid?
Applications for the upcoming academic year become available on January 1 and should be filed by the March 2 priority deadline. Applications submitted after this date will be considered late and limit your eligibility to federal aid (Pell Grant, Federal Stafford and Parent Loans) only.
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I want to apply for financial aid, but my parents haven't completed their Federal Tax Returns yet. Should I wait to file my FAFSA?
In order for you to be considered for all types of financial aid you must submit your FAFSA before March 2. You may provide estimated financial information on your application. If the information changes once the tax returns are filed you must make corrections on your FAFSA, or notify the Financial Aid Office to make corrections for you.
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I am expecting to receive outside assistance (scholarships, fellowships, loans, etc.) How will these affect my financial aid?
Because UCLA meets 100% of your demonstrated need, the receipt of aid from outside sources does make an adjustment to your aid necessary. In order that these awards can help a student as much as possible, it is our policy to replace a student's self-help (loan and work awards) first. If the amount of outside aid received exceeds the amount of loan and work in your package, grants are then reduced.
Any delay in reporting this information to the Financial Aid Office may result in you receiving financial aid in excess of your eligibility, which will necessitate that you be billed for funds already received.
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I received a better financial aid award from another university. Will UCLA match the other school's award?
UCLA does not "negotiate" their financial aid awards in response to offers from other universities. If the other school has information about your family's financial situation that you did not share with us, or if you have reason to believe we have made an error in our evaluation, please contact us to discuss a possible re-evaluation.
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Will I receive the same financial aid package each year I attend UCLA?
Your eligibility for financial aid is evaluated annually based on the current year FAFSA information. If your family circumstances remain relatively unchanged, you can expect to receive a similar financial aid package from one year to the next. Cal Grants are not available to students who are fifth year seniors.
My parents don't provide me with financial support. Can I apply as an “Independent” student?
In order to be considered independent for financial aid purposes you must meet one of the following criteria:
* You must turn 24 before January 1 of the academic year that you are applying for
* Be a Graduate/Professional student
* Be married
* Have children who receive more than half of their support from you
* Have dependents (other than your children/spouse) that live with you and receive more than half of their support from you.
* Be an orphan or ward/dependent of the court
* Be a veteran of the United States Armed Forces
If you do not meet any of the criteria listed above, but can document extreme family circumstances that prevent you from obtaining your parents information/support, you may file an Independent Appeal Form (available under FAO Forms on our site) with the Financial Aid Office for a possible re-evaluation of your status.
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What is a preferred lender and why are they preferred?
Every year, the Financial Aid Office prepares a list of preferred lenders in order make it easier for our parents and students to select a lender for their educational loans and to compare the borrower benefits that are available. UCLA selects preferred lenders based on the following criteria:
- Borrower benefits offered – the borrower benefits provided by our preferred lenders are comparable to or better to those offered by any other lender in the industry. Many of the lenders that we work with provide UCLA borrowers with “premier” benefits when compared to the industry standard.
- Ease of process for the borrower – all of our preferred lenders support a totally paperless application and e-signature process on the web that allows our borrowers to complete the application process in minutes, 24/7.
- Ease of process for the school – all of our preferred lenders support a totally paperless, fully electronic process to originate and disburse loans. This allows us to certify and disburse loans within 1-2 business days (compared to 1-2 weeks for a non-electronic process).
- Customer Support for the borrower – Sallie Mae, the company that processes loans for all of UCLA's preferred lenders, has a dedicated team of customer service representatives who can answer all of your loan questions. Our borrowers have a single point of contact for all of their borrowing needs.
- Customer Support for the school – the Financial Aid Office has a dedicated team of professionals who understand our process and are available to us in order to obtain information, identify potential issues and resolve problems. As the result, the Financial Aid Office is able to ensure a much smoother, more error-free process for loans certified with one of our preferred lenders.
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Can I borrow a loan from a lender that is not on UCLA's preferred lender list?
Yes. However, if you select a lender that is not listed on our preferred lender list we would recommend that you check with the Financial Aid Office to determine whether we can process your loans electronically. If the lender you select is not an ‘electronic lender', your loans will be managed via a paper process. This means that:
- We will not be able to certify your loans electronically. Paper certification process takes longer and is subject to delays because information may need to be faxed or mailed to the lender.
- We will not be able to monitor the loan process to identify errors and ensure a timely delivery of funds because we do not receive electronic status updates from the lenders that are not electronic.
- The lender will not be able to disburse your funds electronically. Instead, a paper check will be sent to Student Loan Services at the beginning of each term that you will need to pick up in person.
- Because the loan will be disbursed via a paper check, the Financial Aid Office will not be able to disburse those funds to your Billing and Receivable (BAR) account in order to pay any outstanding charges (i.e. fees).
Because of the limitations of the paper process, it is important that the above factors are considered when choosing a lender who is not on UCLA's electronic lender list.
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