Understanding Financial Aid at UC Riverside?

Hello all, UC Riverside is one of my top choices for college, but finances might be a bit tricky. Can someone who's been through UC Riverside's financial aid process give me some advice? I want to be ready for any surprises that might come up.

Hello! It's great to hear that UC Riverside is one of your top choices.

First off, understanding the main types of financial aid is essential. Generally, aid can come in the form of grants, scholarships, work-study, and loan options. Grants and scholarships are preferred because they don't need to be paid back. Work-study allows you to work on campus to earn money to pay for your education, and loans are money borrowed that will need to be repaid with interest.

In terms of financial aid at UC Riverside, you'll want to first complete the Free Application for Federal Student Aid (FAFSA) or the California Dream Act Application (if applicable). The FAFSA is available beginning October 1 each year, and they have a May 2nd priority deadline.

At the UC system, as of when your question was posted, the amount you pay, the “net price,” is usually less than the sticker price, as most students get financial aid - approximately 58% of UC Riverside students receive need-based aid, and when you include merit scholarships, 86% of freshmen students receive some form of aid.

UC Riverside also offers a variety of scholarships for incoming freshmen and transfer students, so be sure to check those out.

When it comes to potential surprises, keep in mind that the Student Aid Index (SAI) from your FAFSA is not divided based on the number of students in college within a family, which means you won't receive a 'discount' for having multiple kids in college.

Additionally, always check your financial aid portal and email for updates or requests for additional documents, and always meet any deadlines they set. Don't forget to account for additional costs like textbooks, transportation, and personal expenses when budgeting.

Lastly, if your financial situation changes significantly while you're in school, you can always contact the financial aid office. They may be able to make adjustments to your aid package based on changes in your financial circumstances.

Best of luck with your financial planning for college!