Graduate Student Information
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1. How does a graduate student apply for financial aid at UCSB?
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Comprehensive information on financial support for graduate students is
available at
http://www.graddiv.ucsb.edu/financial/
UCSB students apply for all forms of federal financial aid administered by the
Financial Aid Office by submitting the Free Application for Federal Student Aid
(FAFSA). Instructions for this process are available at
http://www.finaid.ucsb.edu/Applying.asp.
The following types of aid are available to graduate students from the Financial
Aid Office:
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Federal Work-Study (note deadline below)
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Federal subsidized and unsubsidized Direct Loans
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Grad PLUS Loan.
Eligibility for these aid types are determined by the UCSB Financial Aid Office based
on the information submitted on the FAFSA. Alternative loans from various lenders are
also available; however, because the Grad PLUS Loan can cover the full cost of attendance
for a graduate student, there is no longer any need for the additional support offered by
alternative loans.
Deadlines:
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To be considered for Work-Study, graduate students must submit the FAFSA by the
March 2 priority filing deadline prior to the academic year for which they are
applying.
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For loan consideration, the FAFSA should be submitted no later than mid-spring
quarter of the academic year for which they need the funds.
2. How much does it cost for a graduate student to attend UCSB?
3. What if I receive aid through the Financial Aid Office and also receive
assistance from my department, the Graduate Division,
or other sources?
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Graduate fellowship information is reported to our office and periodically updated
throughout the academic year by the Graduate Division. TA and RA fee remission and
health insurance awards are downloaded from the payroll system. However, they are
usually not posted to the payroll system by students’ departments until the quarter
for which they are intended. As applicable, graduate students should review their
fellowship, fee remission, and health insurance awards listed in Section A of their
Financial Aid Award Letter (FAAL). If the FAAL does not display complete information
about their available resources, graduate students should be aware that when the
Financial Aid Office receives additional information later in the academic year,
their work-study and/or loan eligibility may be reduced to resolve an over award.
This revision may include billing students for a portion or all of the loan funds
already disbursed to their BARC accounts.
THE COMBINATION OF GRADUATE STUDENTS’ LOANS, WORK-STUDY, GRADUATE FELLOWSHIPS, FEE
REMISSION, AND HEALTH INSURANCE AWARDS CANNOT EXCEED THE “BUDGET” AMOUNT LISTED ON
THEIR FAALS. GRADUATE STUDENTS’ DECISIONS ON HOW MUCH LOAN ELIGIBILITY TO REQUEST
MUST TAKE THIS INTO CONSIDERATION.
4. What is a Grad PLUS Loan?
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Federal legislation permits graduate students to borrow through the PLUS (Parent Loans
for Undergraduate Students) Loan program. The Grad PLUS Loan allows graduate students
to borrow up to the full cost of education minus other aid received.
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The interest rate is fixed at 7.9%. Interest begins accruing as soon as the
first disbursement is made.
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For graduate students, payments on their Grad PLUS Loan are deferred while they
are in school as long as they are enrolled at least half-time.
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The proceeds of the Graduate PLUS are credited to students’ BARC accounts.
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How to Apply: “Grad PLUS Loan Eligibility” is listed as one of the types of aid on
graduate students’ Financial Aid Award Letters. The award letter is accessed
through the “My Aid Status” link on the Financial Aid Office’s web site. The link to
the “Grad PLUS Loan Request Form” is located on the student’s award letter.
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Graduate students must also complete a PLUS Loan master promissory note, available at:
http://www.dlenote.ed.gov.
For more information on this program, please contact the Financial Aid Office.
5. What are Alternative Loans?
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Alternative Loans are educational loans available from private lending agencies such as banks,
credit unions, and other lending institutions. Graduate students may be eligible for these
Alternative Loans, many of which have varying criteria on interest rates, minimum monthly repayments,
etc. However, with the recent availability of the Grad PLUS loan, alternative loans are no longer
needed to fill the short-fall created by the annual Direct Loan limits.
It is preferred that you apply on-line (versus paper applications) for these loans. Web sites are
provided by the lenders. Information on alternative loans is available at
http://www.finaid.ucsb.edu/TypesOfFinAid.asp.
6. How does the federal Work Study program work?
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Work-Study offers employment opportunities to eligible students to assist them in paying for their
educational expenses. Graduate students may apply their Work-Study allocations to their TAships or
other academic appointments, if applicable.
Work-Study salaries are paid partly by the federal government and partly by the hiring department.
Any on-campus employer or eligible nonprofit off-campus employer may employ students with Work-Study
funding.
Using Work-Study allocations in concert with graduate students’ employment as Teaching Assistants,
Associates, and Readers will assist the Graduate Division and graduate students’ departments in
providing more funding for instruction and graduate support. Thus, graduate students’ departments
will be making a concerted effort to identify whether students in these employment categories have
Work-Study allocations.
7. I have an approved “Leave of Absence” from the Graduate Division.
Do I retain my student status deferral on my loans or do my loans enter
their grace periods and move towards repayment?
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No, you do not retain your student status deferral because you are no longer enrolled at least half-time.
The Office of the Registrar reports all students’ enrollment statuses to the Clearinghouse, and the
Direct Loan Servicing Center gathers enrollment information from this source. Once the Direct Loan
Servicing Center learns you are no longer enrolled at least half-time, they will contact you regarding
repayment of your loan.
Accordingly, after you return to UCSB and are enrolled at least half-time, the enrollment reporting
process through the Clearinghouse will notify the Direct Loan Servicing Center that you are once again
enrolled at least half-time and entitled to your student status deferment.
8. What if I do not qualify for federal aid because I am not a U.S citizen
or eligible non-citizen?
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Information on financial assistance for international students is available from the Office of
International Students and Scholars at
http://oiss.sa.ucsb.edu
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