Paying by “Temporary” Financial Aid
If you are planning to use an estimated Federal Direct Loan credit to register for Winter 2014, please read this message carefully. Otherwise you may disregard it.
The GSM does not determine your eligibility for student loans or set disbursement dates for student loans. The Graduate Financial Aid Office manages student loan processing and both determines eligibility and sets disbursement dates for all 30,000 UC Davis student, following Federal regulations and University guidelines.
Because loan disbursements occur after course fees for Sacramento and Bay Area MBA students are due and cannot legally be moved earlier, the GSM has agreed to accept an estimated credit based on your Federal Direct Loan eligibility determined by the Graduate Financial Aid Office. Because Graduate PLUS and private loans require a credit check and subject to denial, we cannot accept an estimated credit.
Here are the established guidelines:
- By Thursday, November 14, you must request the credit by sending an email to GSMRegistrar@gsm.ucdavis.edu. Include the following:
- first and last name
- UCD student number
- number of units for which you will enroll (must be at least 6)
- With the increased demand for this credit, it may not be possible to process requests received after the November 14 deadline (in which case you need to be prepared to make the fee payment yourself by December 3 to avoid the $250 registration penalty fee).
- If Graduate Financial Aid has approved your loan and you have accepted the loan package, we will enter a credit on your GSM student account in RaPS and notify you by email that the adjustment has been made. Students will be processed in order of their registration group.
- The credit will be based on the amount that Graduate Financial Aid has approved for you for a Federal Direct Loan and the number of units for which you will enroll.
- The maximum credit will be 95% of your accepted Federal Direct Loan eligibility or your total course fee minus any other credits, whichever is lower.
- You will need to pay the balance at the time of registration.
- When your Federal Direct Loan is disbursed and credited to your UC Davis student account, any credit will be refunded to you.
- You are responsible for completing all requirements and insuring that your student is disbursed on time. (Financial aid disbursement and your student account can be checked on SISWEB.)
- Once you are notified to proceed with registration, log in to RaPS.
- Manage Schedule
In RaPS, log in (UCD LoginID and Kerberos passphrase) and build your schedule in Manage Schedule by selecting courses you plan to take for the quarter. (Cross registration courses may be selected as well.) Proceed to:
- Pay for Courses
Follow the prompts. The payment screen will reflect the “temporary” credit. If there is a balance due, you must pay in order to proceed. If no balance is due, select submit. This is point where RaPS triggers your enrollment in courses. If you do not complete the process here, you are NOT enrolled.
- Manage Schedule
This may not be your total financial disbursement, but a credit toward your course fees only. If you anticipate additional aid, it will be disbursed according to the campus and federal timeline. Check the financial aid website for the date.
YOUR RESPONSIBILITY in requesting this payment option: It is your responsibility to check your student account when financial aid disburses to confirm your fees have been paid. If funds do not disburse and you have a balance due, you are expected to follow-up immediately with Graduate Financial Aid. Unless funds are disbursed prior to the first day of instruction, you must pay the balance due to attend class while a resolution is sought with Graduate Financial Aid to be in compliance with GSM Policy. (GSM Policy and Procedures, Section 2.3: Auditing. …..All MBA students must be paid and registered in order to attend classes….). Students who do not follow up and have a balance due are not eligible for a temporary financial aid credit the following quarter and will have a hold on all university records and registration until the balance is paid.
FOR BUDGETING PURPOSES:
Financial aid disbursements are Fall-Winter-Spring quarters only. Please budget and accept funds throughout the academic year as needed so that you are prepared to pay course fees if you expect to enroll in Summer 2014.