If you are a financial aid recipient, have finalized your enrollment, and are enrolled less than full-time (less than 12 hours for Undergraduates and less than 9 hours for Graduate/Professional students), you may submit the Part-Time Aid Adjustment form to our office to have your financial aid adjusted. Otherwise, enrollment will be reviewed and aid adjusted following the last day to drop/add for the term – January 10th.
If you are a Stafford Loan recipient only, you do not need to complete the Part-Time Adjustment form. Please keep in mind, you must be enrolled at least half-time to receive Stafford Loans.
January 1 is just around the corner, which means it is almost time to file your Free Application for Federal Student Aid (FAFSA) for the 2014-2015 school year!
Students should prepare to file their FAFSA AS SOON AS POSSIBLE after January 1 to be considered for limited state funding. You will need your 2013 federal tax return as well as your parents’ federal tax return. It is acceptable to submit the application using your best estimate of 2013 income information. This could mean prior year taxes or December paycheck stubs to approximate the income information questions on the 2014-2015 FAFSA. Once your taxes have been filed, you can correct any income or tax information that is different from what was initially estimated on the submitted FAFSA.
Seven Easy Steps to the FAFSA
Having trouble understanding the FAFSA and feeling overwhelmed by the application process? Be sure to check out these instructional videos that walk you through the seven easy steps to the FAFSA: http://www.finaid.ucsb.edu/fafsasimplification/
The videos can also be viewed on YouTube.
Time Limitation on Direct Subsidized Loan Eligibility for First-Time Borrowers on or after July 1, 2013
If you are a first-time borrower on or after July 1, 2013, please familiarize yourself with the new federal regulations regarding 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 Loans for more than 150% of the published length of your program of study. For more information, please review the U.S. Department of Education’s Federal Student Aid announcement concerning this time limitation.