Have you decided you want to borrow less money than offered to you on your Financial Aid Notification (FAN) this academic year? Here are the steps you should take to reduce your loan amount on your FAN or through the Financial Aid Office. On Your FAN If you have not yet completed your Financial Aid Notification (FAN), you can reduce a loan amount directly on the FAN. STEP 1: Open your FAN by logging in to MyUCLA (at https://my.ucla.edu). Click on 'Awards and Notices' which is located under…
INTRODUCTION If you are a UCLA student or UCLA UNEX student who while attending you borrowed from: a campus-based student loan program and/or a non-campus-based student loan program AND if you are a UCLA student or UCLA UNEX student who within or at the end of the current term will: graduate/separate or enroll below half-time (under 6 units for undergraduates; under 4 units for graduates) or take a leave of absence or cease enrollment Federal regulations and UCLA indicate that…
IF you are a UCLA student or UCLA UNEX student who while attending you borrowed from: a campus-based student loan program and/or a non-campus-based student loan program AND if you are a UCLA student or UCLA UNEX student who within or at the end of the current term will: graduate/separate or enroll below half-time (under 6 units for undergraduates; under 4 units for graduates) or take a leave of absence or cease enrollment Federal regulations and UCLA indicate you are to…
It is good to know who to contact when questions or problems arise concerning the repayment of a loan. Such loan matters would encompass: Repayment Plans Deferment and Forbearance Cancellation Consolidation Listed below are the most common information sources associated with educational loan matters for UCLA student borrowers. Servicers For Perkins Loans and all other UC/campus-based loans borrowed while attending UCLA: If currently attending UCLA, contact – UCLA Debt Management Services…
What is a Federal Consolidation Loan? A Federal Consolidation Loan is a loan that repays all your outstanding eligible federal student loans and replaces the multiple payments you may be making each month with a single student loan payment. This loan is not to be confused with private consolidation loans which may consolidate other types of debt (credit cards, private loans, etc.,) in addition to student loans, but do not have the same benefits as a Federal Consolidation Loan. What loans can…
Completing campus-based loan forms at UCLA has never been easier. Using our online electronic signature process, students who have accepted a campus-based loan offer can conveniently fill out and submit their loan forms from most any computer with internet access! Campus-Based Loans The following loans fall under the heading of campus-based: University/Regents Loans (institutional loans such as the Beckwith, Goldwyn, Harker, Hershey, Hollywood Canteen, Kaplan, McCoy, and Schurch Loans, etc.)…
The conventional way to manage your student loans in the past was to defer all payment while enrolled and begin repayment after graduating or leaving school. Unfortunately, to defer payment while in school will result in you accruing the maximum amount of interest and fees. To avoid this increase in debt, try the Bruin Budget Plan. The Bruin Budget Plan The Bruin Budget Plan is a seven-step series of money management techniques. When all steps are implemented, students will find their debt…
Bruin Budget Plan The Bruin Budget Plan is a 7-step series of money-managing techniques. When all steps are implemented, a student's debt burden can be dramatically reduced. Step 1: Create a formal budget. You cannot manage your debt without first knowing how you spend your money. Having a realistic formal budget aids you in controlling your finances. In following it, you will rarely have to wrestle with the question, "Can I afford this?" You will already know how much money you need for…