When you apply for federal student aid on the FAFSA, the information you report is used in a need analysis formula established by the U.S. Congress. This formula determines your Expected Family Contribution (EFC), which is the amount you and your family are expected to contribute toward your education. UCR's expected family contributions from parents and students may vary from the Expected Family Contribution printed on your SAR if reported data must be updated and corrected or adjusted after the Financial Aid Office reviews supplemental documents. If you have questions regarding your parent contribution,
contact UCR's financial aid office
.
Parents of dependent students are expected to contribute toward the student's educational expenses according to their means. The federal need analysis formula uses your parents' income, assets, taxes, and other mandatory living expenses to determine your parents' contribution. In addition, your parents' ages, need for retirement income, household size, number in college, and other relevant information are considered. Financial aid is awarded only after a determination is made that the resources of your family are not sufficient to meet your educational expenses.
You may not need to pay the entire expected Parental Contribution (PC) towards college or pay it directly to the college. The cost of education is based on actual cost of registration fees and the average of the following:
Room and Board
Books/Supplies
Transportation
Personal Expenses
The amount we estimate you will pay for theses cost are shown on the Financial Aid Award; if the actual costs are less this could reduce the amount of your parental contribution. Registration fees, on-campus housing charges and parking fees are paid directly to the college and will show up on the student account. You are responsible for paying any of the expenses not covered by financial aid. These expenses and any other remaining educational costs can be paid as the expenses occur from any remaining financial aid, i.e. refund and work-study, and/or out of pocket. If you need additional assistance to meet these costs the Parent PLUS Loan may be used to replace all or a portion of the PC. The maximum PLUS you may borrow is the cost of attendance less other financial aid.
Student Contribution
A basic assumption of financial aid is that you consider your education important enough to commit your own resources to meet educational expenses. The dependent student contribution is based on prior year income earned in 2007. A portion of student assets from cash, savings, checking accounts, stocks, bonds, trust funds, or other securities as well as other net assets may be added to this amount. Independent student contributions also take into account the student's family size and additional expenses for dependent children, if applicable.
This is the amount of money needed to supplement what you and your family are able to contribute toward educational expenses. The amount of UCR financial aid, combined with other financial aid and scholarships you receive, cannot be greater than your eligibility.