Financial Wellness for Parents
Financial Aid for Parents
Your student's financial aid is an important aspect of their college success, but it isn't always easy to understand. There is a lot of information throughout our website, and we've picked out some of the more frequently-asked topics below. Visit our FAQ Page for additional information.
- How to Apply for Financial Aid
- To apply for financial aid, submit a FAFSA form or California Dream Act Application between October 1 and March 2 of the previous academic year. These applications will determine your eligibility for federal, state, and university financial aid.
- Expected Family Contribution (EFC)
- Expected Family Contribution (EFC) is the amount of money your family is expected to contribute to paying for college. The EFC is based on the information provided by you and your college-bound student as reported on their financial aid application. Here is the EFC Calculator.
- How Financial Aid is Calculated
- A simple formula determines the student’s eligibility for financial aid. Expected Family Contribution (EFC) is subtracted from the Cost of Attendance, which includes tuition, fees, room and board, and other living costs. The result is the student’s financial need. University Grant eligibility is determined by the student’s need minus Pell and Cal Grants as well as Student Self-Help, which is the amount that undergraduates are expected to contribute toward the Cost of Attendance. You may meet this expectation with loans, scholarships, or earnings from employment. Here is a detailed explanation of these terms.
- What is the Federal Pell Grant
- The Federal Pell Grant is given to full-time undergraduate students with demonstrated need. The Department of Education (DOE) assesses the student’s financial aid application to determine eligibility. Visit the Federal Student Aid website for more Pell Grant information.
- What is the Cal Grant?
- Cal Grants A and B are only applied to tuition costs, but Cal Grant B Access awards can be used for other educational expenses. First-time Cal Grant applicants must submit a GPA Verification form to the California Student Aid Commission (CSAC) between October 1 and March 2. The CSAC uses the student’s financial aid application and GPA Verification to assess eligibility. For more Cal Grant information, visit the CSAC website.
- Loans for Parents
- If you are the parent of an undergraduate student attending UC Davis, you may be eligible to apply for and receive a Parent PLUS Loan. A parent is not guaranteed to receive the PLUS Loan. Upon application, the Department of Education (DOE) will evaluate your credit and approve or deny your application based on your credit score and history.
- UC Davis Scholarships
- Incoming students automatically apply for campus-based scholarships with their UC Application for Admission and Scholarships. Continuing students can apply for UC Davis Scholarships from October to January. Outside scholarships are scholarships not affiliated with UC Davis. The Middle-Class Scholarship is a state-funded program for students with family income under $184,000 and household assets under $184,000. It provides up to 40% of standard tuition and fees.
- Student Account and Disbursement
- Students can track their account and disbursement on their MyBill account. Students can check their balance, make secure payments, view payment history, and provide permission to parents to pay bills.
- What is Verification?
- Students are randomly chosen for Verification, a process conducted to ensure that the information submitted on the financial aid application is correct. During the Verification process, students may be asked to submit various types of documents: Parents’ Marriage/ Divorce Certificate, 1040 Forms, citizenship documents, and others. The Financial Aid and Scholarships Office cannot disburse financial aid until Verification is completed.
- Appealing Financial Aid
- You may request a Family Contributions Review for Parental and/or Student Contribution if your family has undergone extenuating circumstances such as unemployment, divorce, or out-of-pocket medical costs which would change the student’s EFC. If your expenses are higher than the standard budget, complete the Cost of Attendance Appeal after October 1. This and other forms can be found at Undergraduate Forms and Appeals.
If you believe you have made a mistake on your financial aid application, you can either directly edit the application or request verification from Financial Aid and Scholarships.
Additional Financial Aid Resources
- Financial Aid FAQs
- Financial Aid Net Price Calculator
- Guide to Paying for Education from CashCourse
- Loan Comparison Guides
For more questions or help please Contact Us!