2014 Guide to Summer Sessions Financial Aid

Summer Application opens
on April 1
Priority Deadline:
April 30
www.financialaid.ucla.edu
2014 Guide to
Summer Sessions
Financial Aid
Financial Aid and Scholarships
A129 Murphy Hall Box 951435 www.financialaid.ucla.edu
Los Angeles, CA 90095
[email protected]
CONTENTS
Summer Aid Eligibility
Applying for Summer Aid
Summer Financial Aid
Programs
Grants
Summer Aid Eligibility
Entering and continuing UCLA students can apply for summer financial
aid. Please note that if your Degree Candidacy term is Spring 2014, you
will not be eligible for summer financial aid. You must update your
Degree Candidacy term on MyUCLA to Summer 2014.
If you are interested in attending a Summer Travel Program or Summer
Sessions at another UC, please go to FAO Publications on
www.financialaid.ucla.edu to view the guides for those programs.
Work-Study
Financial aid is only available for one summer program per year.
Federal Loans
-- Non-UCLA students should consult the Financial Aid Office at their
home institution for information.
Private Loans
Summer Disbursements
Maintaining Summer Aid
Eligibility
Graduate students who plan to enroll in undergraduate courses are
eligible to receive financial aid ONLY if the courses are required to
complete their graduate degree. You must provide a letter from your
department indicating this program is necessary.
Unit Requirement
and Census Date
Return of Title IV
Funds
Applying for Summer Aid
Step 1. Complete a FAFSA or DREAM Act Application
If you wish to be considered for student aid during the summer, you must apply for aid for 2014-2015. You
can complete the FAFSA application on the web at www.fafsa.gov. If you are an AB540-eligible student
who is not a citizen or a permanent resident, complete a DREAM Act application at www.csac.ca.gov .
The priority filing deadline to receive maximum awarding consideration is March 2 for all applicants.
Step 2. Complete a Summer Aid Application
Summer Aid Applications will be available at www.financialaid.ucla.edu on April 1. Continuing students
must complete the application by April 30 to be considered on time. Entering students will be treated as
on-time, as long as they submitted their FAFSA or DREAM Act application by March 2.
Step 3. Submit Supplemental Documentation, if needed
If additional information is required in order to complete your application, a request will be posted on
MyUCLA Financial Aid Document Tracking and an e-mail will be sent to notify you of the request.
Step 4. Confirmation (for students who apply on or before April 30)
In order to make sure that your summer award is calculated accurately, Financial Aid and Scholarships will
ask you to verify the sessions and units you indicated on your Summer Aid Application before your
application is submitted for processing. An e-mail will be sent to you on May 1 requesting that you access
your Summer Aid Application and confirm (or update) all information.
After you complete the Confirmation process, you will not be able to make any changes to your Summer
Aid Application. Students who submit their summer application after April 30 will not be required to
complete the Confirmation process.
Summer Financial Aid
Programs
NOTE: With the exception of the Pell Grant, the amounts listed
on this page are based on last year’s figures. All award amounts
are subject to change based on availability of funds.
Your summer award will cover your summer expenses
(including fees and living expenses) and the amount of aid
will be based on the number of sessions and units you will
take per session during the summer. Maximum
consideration will be given to students who complete their
FAFSA or DREAM and Summer Aid applications on time.
Late applicants are not eligible for University Grant or WorkStudy.
Financial Aid and Scholarships will start awarding summer
aid in May. If you apply on time, you will receive your
summer eFinancial Aid Notification (FAN) by mid-June. We
will notify you via e-mail when your summer eFAN becomes
available.
GRANTS
These funds do not have to be repaid and are offered to undergraduate students only. Summer aid can
consist of one or more grant programs described below:
Pell Grants These are federal grants awarded to eligible undergraduates (EFC less than $5,158) who
file a FAFSA. Pell Grants range from $201 to $1,910 for full time enrollment during the summer. Eligibility
is dependent on the student’s need and the number of units you will take in the summer. Award
amounts are reduced for enrollments in less than 12 units.
University Grants These funds are awarded to FAFSA and DREAM applicants. Eligibility is based on a
student’s need and the number of units taken during the summer. Awards range from $1,100 (for
enrollment in 8-11 units) to $2,200 (for enrollment in 12 or more units). Only on-time applicants enrolled in
8 or more units during the summer will be considered for University Grant and amounts are subject to
change based on availability of summer funding.
Cal Grants California Grants are offered to FAFSA and DREAM applicants who graduate early and will
not need their Cal Grant during the academic year. Summer Cal Grants will be awarded mid-summer and will
reduce your University Grant eligibility.
Federal Work-Study
Summer work-study eligibility is based upon demonstrated financial need. In order to be considered for
work-study, a student must have requested it on their Summer Aid Application. Graduate and
undergraduate on-time FAFSA applicants are considered. Maximum award is $1,800 (subject to change
based on availability of summer funding). Money earned through work-study is part of your total financial
aid package. Students who are offered and accept work-study can locate jobs via a work-study web site
and can work up to 20 hours per week.
LOANS
The Direct Loan Program consists of low-interest
subsidized and unsubsidized loans funded by the
federal government. Loans are available to FAFSA
filers.
If you are a first-time
borrower at UCLA, you are
required to complete a
Master Promissory Note
and a Debt Management
Session before your loans
can be disbursed.
To complete your Direct
Loan Promissory Note, go
to www.studentloans.gov
To complete a Debt
Management Session, go
to www.loans.ucla.edu.
Subsidized Direct Loans are available to
undergraduate students with financial need. The
interest rate is fixed at 3.86% for loans disbursed
before July 1, 2015. Loan repayment will begin six
months after graduation or dropping below halftime enrollment while accrual of interest will begin
immediately after graduation or dropping below
half-time enrollment. A loan guide will be provided
with your summer eFAN that will include additional
information about federal loans offered.
Beginning with the 2013-2014 year, new borrowers may only receive
subsidized loans for a maximum of 150% of the published length of their
academic program. For example, a student who is enrolled in a four year
program can receive subsidized loans for a maximum of six years
(students must meet eligibility criteria to qualify for subsidized loans).
Once a borrower has reached the 150% limitation, his or her eligibility for
an interest subsidy also ends for all outstanding subsidized loans that
were disbursed on or after July 1, 2013. At that point, interest on those
previously borrowed loans would begin to accrue and would be payable
in the same manner as interest on unsubsidized loans.
Unubsidized Direct Loans are available to undergraduate and graduate students regardless of income.
Interest accrues from the date of disbursement, but the extra costs of accrual can be avoided by making
interest payments while in school. The interest rate is fixed at 3.86% for undergraduate and 5.41% for
graduate borrowers on loans disbursed before July 1, 2015.
Direct Loan eligibility for the summer is based on the maximum annual loan limits at your grade level.
Federal loans disbursed in the summer will reduce your academic year eligibility. Please refer to Guide
to Subsidized and Unsubsidized Loans for additional information.
Direct PLUS Loans are awarded to help parents and graduate students meet the cost of education
for the summer. Graduate students and parents may borrow up to the cost of education for the
summer less any other financial aid received. These loans are available only to borrowers who do not
have adverse credit histories. The interest rate is fixed at 6.41% for loans disbursed before July 1, 2015.
Repayment begins 60 days after the loan is fully disbursed but repayment can be deferred until after
student’s graduation. Graduate PLUS loans do not enter repayment until after student graduates or
drops below half-time enrollment.
To apply for a summer PLUS Loan go to www.studentloans.gov and indicate a loan period of June 2014
to September 2014.
LOANS continued
Private Loans
These loans will be offered to students who receive the maximum award
amounts under the federal loan program for the summer and the academic
year and still require additional funding. Private loans are funded by banks
and lending institutions and often require a co-signer. Students and/or cosigners will have to pass a credit check, performed by the lender, before
their private loans are approved. The interest rate and repayment terms
will vary since these loans are not federally guaranteed. If you are awarded
a private loan, see the Private Loan Guide available at
www.financialaid.ucla.edu under Publications.
Summer Disbursements
Financial Aid and Scholarships office will verify your enrollment status
before disbursing funds to your account. A minimum enrollment of 6 units
for undergraduates and 4 units for graduates is necessary before funds can
be disbursed.
Because your cost of
education for the summer is
dependent on the session(s)
you indicate you will attend
on your summer application,
you may be billed if you end
up attending different
sessions or take fewer units.
Summer enrollment is based
on the total units taken during
summer sessions.
Example:
Student taking 4 units in
session A and 8 units in
session C will be considered
full-time.
Financial aid will be disbursed to BruinBill 10 days before the first day of
summer sessions. Summer charges will be paid off and a refund will be
generated for the balance left over. For students enrolled in sessions A
and C, all financial aid will be disbursed at the beginning of session A.
For students enrolled in Session C only, aid will be disbursed at the end of
July.
Maintaining Summer Eligibility
Summer Financial Aid eligibility is based on the exact sessions and
number of units per session you indicate on your Summer Aid
Application. You will be subject to billing if you switch the sessions
attended and/or take fewer units than indicated on the application.
UNIT REQUIREMENT AND CENSUS DATE
In order to be eligible for summer aid, students need to enroll in a
minimum of half-time status (6 units for undergraduates, 4 units for
graduates). A minimum of 8 units is required to qualify for summer
University Grant.
Aid will be subject to cancellation if you drop below half-time status.
Some undergraduate programs (Federal Pell Grant and Summer
University Grant) require enrollment in 12 units to receive full eligibility.
The Financial Aid Office will review all units at the end of the third week
of each UCLA summer session (the census date) in order to determine
your eligibility for summer aid. Students who are not enrolled in the
number of units on which their award was based on will be billed.
Adding units after the census date will not reinstate your eligibility.
If you enroll in UCLA
Summer Sessions
courses at any time
and withdraw (drop all
classes) you will be
charged a $150 nonrefundable
processing fee, even if you
withdraw before classes
begin.
RETURN OF TITLE IV AID FUNDS
If you receive financial aid and subsequently do not enroll in Summer Sessions for which you were
awarded or if you drop all your units for the session for which you received aid, you may be billed for a
portion of aid received. The calculation of Return of Title IV funds is based on published schedules and
the date that you cancel your registration or the date you drop all classes during a summer session.
Under federal regulations, summer is considered a single term of enrollment and students who cease
attendance before the end of the period for which aid was awarded will be considered as having
withdrawn. Here are a few examples of situations that will be treated as withdrawals in the summer:
● You are awarded aid for
sessions A and C but do not
attend session C. You will have
completed 6 of 12 weeks of
enrollment resulting in
recalculation of your financial aid
eligibility.
● You are awarded aid for
session A and C but drop units in
session A after 3 weeks and drop
units in session C after 3 weeks.
In total, you will have completed
6 of 12 weeks during the summer
and your eligibility for aid will be
recalculated.
● You are awarded aid for
session A (10 weeks) and drop
classes after the third week of
instruction. You will have
completed 3 of 10 weeks and
your eligibility for aid will be
recalculated.
EXAMPLES OF SUMMER AID RECALCULATION
Example #1:
On-time undergraduate enrolled in 9 units for session A (6 weeks) and 6 units for session C. All aid
was disbursed 10 days prior to Session A start date. The following shows the total cost of attendance and awards:
Cost of Attendance $9,339 (15 units, 12 weeks of enrollment)
Pell Grant
University Grant
$1,882
$2,200
Student completed 9 units from session A but did not attend session C. Financial Aid Adjustments:
Cost of Attendance
Bill based on Units
Bill based
on Withdrawal
Total Summer Bill
Example #2:
$5,173 → adjusted to session A only
$1,021 → $4,082 original awards at full-time minus $3,061 revised awards at 9 units (3/4 time)
$1,833 → Pell and University grants are further reduced based on unearned aid percentage
$2,854
Using the same enrollment scenario from Example #1 but awards are loans only:
Direct Unsub Loan
Direct Grad or
Parent PLUS Loan
$2,000
$7,339
Financial Aid Adjustments:
Bill based on Units
Bill based
on Withdrawal
Total Summer Bill
$4,166 → This is the difference between the above-mentioned Costs of Attendance
($9,339 minus $5,173)
$1,299 → Direct Unsub Loan is reduced based on unearned aid percentage for the term
$5,465
Any time your summer enrollment plans change and you are considering enrolling in different sessions or
fewer units than indicated on your summer application, it is recommended that you contact Financial Aid
and Scholarships to find out if your changes in summer enrollment will decrease your eligibility for aid.

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