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Important Updates

Undergraduate Student Loans

Undergraduate Student Loans

Loans are financial aid awards that require repayment, with interest, under varying terms and conditions. The loans must be repaid after you graduate, withdraw from college, or drop below half-time status (fewer than six units per quarter). Please note, that the loan amount you request and all other awards received, cannot exceed the Cost of Attendance.

Admitted and continuing students must log in to MyAwards to view their aid package and requirements. The package may include federal loan offers from the funds mentioned below.
 

Important Loan Dates

Loan acceptance, increases, and requirements must be completed by the published deadlines.

Last Registered Term of Attendance Final Deadline
Fall Quarter 2022  Dec 2
Winter Quarter 2023 Mar 17
Spring Quarter 2023 Jun 8
Summer 2023 Session 1 TBD
Summer 2023 Session 2 TBD
Summer 2023 Sessions 1 and 2 TBD

MPN and Entrance Counseling received after the following deadline dates may not be processed.

Federal Loans

Federal student loans are available to most students regardless of income and provide a range of repayment options including income-based repayment plans and loan forgiveness benefits, which other education loans are not required to provide. To be considered for a federal student loan, applicants must meet the following criteria:

Direct Loan Disbursements: Loans are awarded in three equal disbursements over the fall, winter, and spring quarters. For example, if a borrower requests $3,500 for a loan period that includes three quarters the loan disbursements would be:

  • Fall $1167
  • Winter $1167
  • Spring $1166

For students that plan to attend one or two quarters: Submit a Change in Aid form to report changes to your enrollment. Financial aid staff will update your MyAwards account in order for you to review pro-rated loan eligibility. Funds will be disbursed equally across the quarters of attendance.

Loan Servicer: Visit studentaid.gov for loan servicer information on all Federal loans.

Please see general eligibility requirements for federal student aid for more details.

Federal Direct Subsidized Loan

Federal Direct Subsidized Loan

  • Available to students with financial need
  • The U.S. Department of Education pays the interest on a Direct Subsidized loan
  • Interest rate and loan fees for the year are determined annually on July 1
  • Available to undergraduate students with financial need
  • Payments do not begin until 6 months after you graduate, drop out, or fall below half-time status
  • Loan servicer will be assigned by the U.S. Department of Education
  • Does not require a credit check
  • Processing fee deducted from each disbursement
  • For first-time borrowers borrowing on or after July 1, 2013, there is a limit on the maximum period of time (measured in academic years) that you can receive Direct Subsidized Loans. In general, you may not receive Direct Subsidized Loan for more than 150% of the published length of your program. 
  • 2022-23 loan offers can be accepted or declined in MyAwards beginning August 1, 2022. Requirements can be completed after the loan has been accepted.
  • 2022-23 Loan Agreement for a Subsidized/Unsubsidized Loan (MPN) and Entrance Counseling files will be uploaded starting August 4. Keep confirmation(s) for your records.  

Federal Direct Unsubsidized Loan

Federal Direct Unsubsidized Loan

  • Available to students regardless of financial need
  • The borrower is responsible for paying interest while enrolled in school
  • Interest rate and loan fees for the year are determined annually on July 1
  • Payments do not begin until 6 months after you graduate, drop out, or fall below half-time status
  • Loan servicer will be assigned by the U.S. Department of Education
  • Does not require a credit check
  • Processing fee deducted from each disbursement
  • 2022-23 loan offers can be accepted or declined in MyAwards beginning August 1, 2022. Requirements can be completed after the loan has been accepted.
  • 2022-23 Loan Agreement for a Subsidized/Unsubsidized Loan (MPN) and Entrance Counseling files will be uploaded starting August 4. Keep confirmation(s) for your records.  

Federal Perkins Loan

Federal Perkins Loan

The Federal Perkins loan program ended on September 30, 2017. No new loan offers can be made after this date.

  • Loan does not accrue interest for students enrolled half-time or more
  • 5% annual interest rate
  • 9 month grace period
  • Does not require a credit check
  • No processing fees
  • Limited availability
  • Under federal law, the authority for schools to make new Perkins Loans ended on September 30, 2017. As a result, students can no longer receive Perkins Loans. 

University Student Loan

UC Davis offers university-based loans that have interest rates at 5% which accrue once the borrower ceases to be enrolled at least half-time. These loans are made on the basis of financial need. Review the promissory note and disclosures statements for additional information about deferment periods and repayment schedules.

Minimum award: $200

Maximum award: $4,000

Loan Servicer: Heartland ECSI 

  • Awarded to qualifying students that demonstrate financial need and file an educational expense appeal. 
  • Funds are awarded to assist with additional living expenses, child care, and first-time computer purchase.
  • Limited funding may also be available for summer
  • Interest rate: 5%
  • Processing fee: N/A
  • Deferment period: 6 months
  • Does not require a credit check
  • 2022-23 loan offers can be accepted or declined in MyAwards beginning August 1, 2022. Requirements can be completed after the loan has been accepted.

Attention 2022-23 University Loan borrowers: The Truth in Lending and Right to Cancel requirement access will be available after August 4, 2022. 

California DREAM Loan

The California DREAM Loan Program provides eligible AB540 students with the option to borrow a California DREAM Loan to assist with the cost of attending UC Davis. The California DREAM Loan is based on a student's financial need. The promissory note and disclosure statements will provide the borrower with information about deferment periods and repayment schedules.

Minimum award: $200

Maximum award: $4,000

Loan Servicer: Heartland ECSI 

  • Awarded to qualifying undergraduate students that:
    • Have an approved residency determination of AB540 from the Registrar's Office
    • Have filed the California Dream Act Application (CADAA) for the current academic year
    • Enrolled in at least six (6) units
    • Demonstrates financial need
  • Interest rate will change each year to correspond to the Federal Direct Subsidized Loan Interest Rate
  • Borrower is not responsible for paying the interest if:
    • Enrolled at least half-time at an eligible school, OR
    • Within six (6) months of having been enrolled at least half-time, OR

    • During a period of deferment 

  • Processing fee: N/A
  • Deferment period: six (6) months
  • Does not require a credit check

  • Students may borrow each academic year, based on eligibility, or until the maximum of $20,000 in DREAM loans is received

  • 2022-23 loan offers can be accepted or declined in MyAwards beginning August 1, 2022. Requirements can be completed after the loan has been accepted.

  • Attention 2022-23 University Loan borrowers: The Truth in Lending and Right to Cancel requirement access will be available after August 4, 2022.