Undergraduate Student Loans
Loans are a form of financial aid that must be repaid. Educational loans have varying fees, interest rates, repayment terms, and/or borrower protections. 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 aid 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 |
|---|---|
| Summer 2023 Session 1 | Jul 28 |
| Summer 2023 Session 2 | Sep 8 |
| Summer 2023 Sessions 1 and 2 | Sep 8 |
| Fall Quarter 2023 | Dec 7 |
| Winter Quarter 2024 | Mar 14 |
| Spring Quarter 2024 | Jun 5 |
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:
- File a Free Application for Federal Student Aid (FAFSA)
- Be enrolled in a degree-seeking program
- Be enrolled in six or more units per quarter
- Be a U.S. citizen or eligible non-citizen
- Meet Satisfactory Academic Progress (SAP) for maintaining financial aid
- Not be in default on a prior federal student loan or exceed annual and lifetime borrowing limits
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 Annual and Aggregate Loan Limits
The following chart shows the annual and aggregate loan limits for subsidized and unsubsidized loans:
Direct Stafford Loan Maximums
| Dependent Undergraduates | Units | Subsidized | Unsubsidized | Annual Total |
|---|---|---|---|---|
| Freshmen | 0-44.9 units | $3,500 | $2,000 | $5,500 |
| Sophomore | 45-89.9 units | $4,500 | $2,000 | $6,500 |
| Junior | 90-134.5 units | $5,500 | $2,000 | $7,500 |
| Senior | 135+ units | $5,500 | $2,000 | $7,500 |
| Independent Undergraduates OR Undergraduates whose parents are unable to borrow Direct PLUS | Units | Subsidized | Unsubsidized | Annual Total |
|---|---|---|---|---|
| Freshmen | 0-44.9 units | $3,500 | $6,000 | $9,500 |
| Sophomore | 45-89.9 units | $4,500 | $6,000 | $10,500 |
| Junior | 90-134.5 units | $5,500 | $7,000 | $12,500 |
| Senior | 135+ units | $5,500 | $7,000 | $12,500 |
Aggregate Stafford Loan Limits
| Subsidized | Unsubsidized | Total | |
|---|---|---|---|
| Dependent Undergraduates | $23,000 | $8,000 | $31,000 |
| Independent Undergraduates | $23,000 | $34,500 | $57,500 |
Federal Direct Subsidized Loan
Federal Direct Subsidized Loan
- Available to undergraduate students with financial need
- The U.S. Department of Education pays the interest on a Direct Subsidized loan
- while you are in school at least half-time,
- for the first six months after you leave school (referred to as a grace period), and
- during a period of deferment (a postponement of loan payments).
- 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
- 2024-25 loan offers can be accepted or declined in MyAwards beginning July 3, 2024. Requirements can be completed after the loan has been accepted.
- 2024-25 Loan Agreement for a Subsidized/Unsubsidized Loan (MPN) and Entrance Counseling files will be uploaded starting July 5, 2024. Keep confirmation(s) for your records.
Federal Direct Unsubsidized Loan
- Available to undergraduate students regardless of financial need
- Interest rate and loan fees for the year are determined annually on July 1
- Interest begins accruing immediately after the first payment applies to the student account
- The student can choose to pay the interest while enrolled or upon entering repayment
- 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
- 2024-25 loan offers can be accepted or declined in MyAwards beginning July 3, 2024. Requirements can be completed after the loan has been accepted.
- 2024-25 Loan Agreement for a Subsidized/Unsubsidized Loan (MPN) and Entrance Counseling files will be uploaded starting July 5, 2024. Keep confirmation(s) for your records.
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
- 2024-25 loan offers can be accepted or declined in MyAwards beginning July 3, 2024. Requirements can be completed after the loan has been accepted.
Attention 2024-25 University Loan borrowers: The Truth in Lending and Right to Cancel requirement access will be available after July 5, 2024.
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
- 2024-25 loan offers can be accepted or declined in MyAwards beginning July 3, 2024. Requirements can be completed after the loan has been accepted.
Attention 2024-25 University Loan borrowers: The Truth in Lending and Right to Cancel requirement access will be available after July 5, 2024.