Applying for Financial Assistance
Step 1: File the FAFSA or renewal FAFSA
All financial aid applicants must complete the Free Application for Federal Student Aid (FAFSA) or renewal FAFSA. This form may be completed online or mailed to the processor on or after January 1. Before filing refer to complete 2012-13 FAFSA information .
Prior FAFSA filers are sent a Personal Identification Number (PIN) by the Department of Education to the address listed on their prior-year FAFSA. Students may also request a PIN via the Internet.
A PIN is required to complete the renewal FAFSA online. Otherwise, the filer may complete a regular FAFSA online or submit a paper FAFSA.
Students are encouraged to file the FAFSA on the Web instead of paper. This free online service provided through the Department of Education dramatically speeds the processing of your FAFSA. The federal processor has developed a FAFSA on the Web Pre-Application Worksheet which they highly recommend that web filers complete before filing the FAFSA on the Web.
Students must reapply for financial aid each year. The 2012-13 priority application deadline for continuing students is March 2, 2012. To be considered for university grant funding in addition to federal aid, you must file your FAFSA between January 1 and March 2. Early applicants receive priority consideration (but are not automatically eligible) for grant funding. New students are encouraged to apply by the priority deadline, but will not be penalized due to admission decisions.
Include the UC Davis School Code: 001313 on the FAFSA.
Step 2: Receive your Student Aid Report (SAR)
About three to four weeks after submitting the FAFSA, you will receive a Student Aid Report (SAR) from the federal processor (either electronically or by mail).
Read the SAR carefully. If all the information is accurate and UC Davis is included in the school list section, your may keep the SAR for your records.
If UC Davis is not listed, the Financial Aid Office will not receive the student’s application information. Follow the SAR instructions for submitting a school change or addition.
If reported data is incorrect or failed any of the database matches, follow the instructions to correct or resolve the issue. The most common sources or data mismatches are citizenship, selective service, name, and birth date.
Step 3: Submit required documentation to the Financial Aid Office
After submitting the FAFSA, additional documents may be required. Typical documents include, but are not limited to:
Social security or citizenship documentation
Selective Service status documents
Entering Veterinary Medicine students applying for need-based financial aid will be required to submit a copy of their 2011 Income Tax Return to validate information provided on the FAFSA. Please do not submit this information until a formal request is received. When you receive a notice of additional or missing information from the Financial Aid Office through your MyAwards, please comply as soon as possible. A delay in submitting requested documentation may delay your financial aid processing and awarding.
Step 4: Award Notification via MyAwards
When your application is complete and reviewed, your financial aid awards will be available online at MyAwards: http://financialaid.ucdavis.edu/MyAwards/. The MyAwards includes your student expense budget and a breakdown of your financial aid eligibility. You are able to view and accept your financial aid online, including loans and loan documents.
Financial need is determined by using a simple formula:
|COST OF ATTENDANCE|
|Minus||RESOURCES (applicant’s income and assets)|
|=||NEED (applicant’s eligibility for funding sources)|
The cost of attendance is determined according to your year in the veterinary program.
The calculation of resources is based on current assets and base-year income (e.g., 2011 calendar year for the 2011-12 academic year) that was reported on the FAFSA, resulting in an Expected Family Contribution.
There is a variety of sources of educational funding available to students in the School of Veterinary Medicine. All students are encouraged to file a FAFSA to be evaluated for all funding options. Students may receive a combination of grant, scholarship and loan based on eligibility that does not exceed their cost of attendance. In 2011-12, approximately 16% of a financial aid recipient's cost of attendance was funded with university grants, and the remainder was funded with personal resources, federal and alternative student loans, and applicable scholarships.
Grants and Scholarships
A grant is need-based gift aid that does not have to be repaid. Both UC Davis and the School of Veterinary Medicine administer grants to eligible students. For grant consideration, veterinary students must submit the FAFSA by the March 2 priority deadline (exception: entering students are not penalized for missing this deadline due to admission decisions).
School of Veterinary Medicine Scholarships
The School of Veterinary Medicine annually administers over 650 scholarships amounting to $1.7 million. These scholarships are provided through the generosity of individual, association and corporate donors; and the University itself. The School’s endowed scholarship fund exceeds $36 million. Some scholarships are based solely on academic criteria; others are based on academic and financial criteria.
A few scholarships are offered to students upon admission to the School. The Admissions Committee selects the recipients, and there is no separate application for these scholarships.
Continuing students apply online for scholarships each fall, and recipients are announced at the School’s annual awards ceremony in May.
Students interested in fellowship funding for summer research projects are directed to the Student Training in Advanced Research (STAR) Program.
There is a variety of ways to obtain scholarship information on your own:
Check scholarship reference books at libraries for potential scholarship sources.
Check organizations with ties to your interests, career goals, geographic area, etc.
Current veterinary students should watch for miscellaneous scholarship announcements from the Student Programs Office via e-mail announcements.
Various scholarship free search services are available on the Internet. FinAid! SmartStudent Guide to Financial Aid offers tips and links for searching scholarship databases.
Loan Programs (effective academic year 2012-13)
Federal Direct Unsubsidized Loan: A fixed interest rate of 6.8%. The fixed interest rate starts accruing immediately upon disbursement; principal and interest payments start six months after graduation or withdrawal from school. Each year students may receive a maximum of $20,500 plus an increased amount between $20,000 (first through third year VM students) and $26,667 (fourth year VM students) for Health Professions programs. The exact amount is determined by the year in school and overall need. Annual maximum borrowing limit is the difference between the Academic Year Student Expense Budget and other financial aid, not to exceed above stated limits.
Graduate Plus Loan: May be available to students enrolled in a graduate or professional program. Grad Plus borrowers may borrow up to the cost of attendance for the period of enrollment, minus other estimated financial assistance received for the period of enrollment. Available at a fixed rate of 7.9% with no annual or aggregate loan limits. A modified credit check is required; applicants who are not credit-worthy may utilize an endorser who does meet the credit requirements. A 4% origination fee is deducted from the loan disbursements.
Alternative Loan: Unsecured, credit-based loan that may require a co-signer. Eligibility is based on borrower's credit worthiness. Variable interest starts accruing immediately upon disbursement; payments of principal and interest may be deferred while in school and during a six-month grace period after graduation. Interest rate: interest rates change continuously. Check current rates at: http://financialaiducdavis.edu/graduate/Types/Loans.html.
For further information, refer to Loan Information, which includes information about online Entrance Loan Counseling.
Short Term Loans
The School provides short-term loans of $500 based on eligibility (more that $500 may be borrowed by exception, based on eligibility and individual circumstances). These loans are available within one week of approval and are repayable within 30 days. Short-term loan proceeds are either credited directly to student bank accounts via direct deposit or picked up at the Student Accounting Office, 2100 Dutton Hall. The application form and information are available on-line at VIPER/Students/Short-Term Loan Application. To schedule an appointment for a loan, contact the Office of Student Programs at 530-752-1383.