Managing Student Loans

students in front of building

What to Know About Your Loans

Know the Types of Loans Available

There are several different types of student loans.  Visit our Loan Page to see the different types of loans that are available, important loan dates, and highlights for each type of loan.

Know the Types of Loans You Are Borrowing

MyAwards will show the types of loans you are being offered.  We encourage you to think carefully about your future loan indebtedness before accepting loans.  You are not obligated to accept any loan offered to you, and you can accept less or decline the aid offered in MyAwards.

Know the Difference Between Subsidized and Unsubsidized

The interest on Direct Subsidized loans is paid by the U.S. Department of Education while you're in school at least half-time in a degree-seeking program.  The student is responsible for the interest on Unsubsidized loans.  More information about subsidized and unsubsidized loans is available on the Federal Student Aid website.

Know the Terms of Your Grace Period

The grace period is the amount of time you have after you graduate, withdraw, or drop below half-time, before you are required to begin repaying your loan.  The grace period depends on the terms of the loan you are borrowing.  If you want to find out more on your loan(s)' grace period, contact your loan servicer.

Know the Loan Fees

You will be charged a loan fee when you borrow Federal Direct Loans.  The loan fee is deducted proportionately from each scheduled disbursement of your loan.  The Federal Student Aid website provides the most up to date information about interest rates and fees.

Keeping Track of Your Loans

National Student Data System (NSLDS)

The National Student Loan Data System (NSLDS) is a repository with details on all your federal student loan and federal grant information.  NSLDS shows all your current loan holders from all institutions you may have attended.  NSLDS does not track alternative/private loans or institutional loans awarded by UC Davis.

MyLoans at UC Davis

Financial Aid developed MyLoans to help you monitor and review your student loans at UC Davis. MyLoans can help you track the federal and institutional loans you accepted at the UC Davis campus. You will be able to see current interest rates, cost of borrowing and your estimated monthly payment based on the amount you currently owe.  

Canceling Your Loans

At any time a borrower can decline all or part of the loan money by submitting a Change-in-Aid request in MyAwards.

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Direct Loan

A federal student loan, made through the William D. Ford Federal Direct Loan Program, for which eligible students and parents borrow directly from the U.S. Department of Education at participating schools. Direct Subsidized Loans, Direct Unsubsidized Loans, Direct PLUS Loans, and Direct Consolidation Loans are types of Direct Loans.

Grace Period

A period of time after borrowers graduate, leave school, or drop below half-time enrollment where they are not required to make payments on certain federal student loans.


The organization that made the loan initially; the lender could be the borrower's school; a bank, credit union, or other lending institutions; or the U.S. Department of Education.

Subsidized Loans

Need-based.  The U.S. Department of Education pays the interest on a Direct Subsidized Loan while you're in school at least half-time, for the first six months after you leave school, and during a period of deferment (a postponement of loan payments).

Unsubsidized Loans

Non need-based.  You are responsible for paying the interest on a Direct Unsubsidized Loan during all periods.