UCLA is one of the most well-respected public universities in the country. In 2017, UCLA tied for first place in the U.S. News & World Report ranking of the best colleges.
However, the rigorous curriculum and excellent reputation come with a hefty price tag. If you live in California and choose to live on campus, you can expect to pay over $34,000. For out-of-state students, that number almost doubles.
If you’re struggling with how to pay for UCLA, here’s what you need to know.
How to pay for UCLA
Although UCLA is expensive, don’t let its price tag scare you away. Here are five options to help you make college more affordable.
1. UCLA scholarships
Scholarships are one of the most valuable resources you can use to pay for school. Unlike student loans, which have to be repaid with interest, scholarships are “free money.” That means they don’t have to be repaid.
UCLA offers several scholarships to new students, including:
Alumni Legacy Scholarship: If a parent or guardian attended UCLA, you might be eligible for the Alumni Legacy Scholarship.
Bunche Alumni Scholarship: Students from historically underrepresented backgrounds are eligible for the Bunche Alumni Scholarship.
Freshman Alumni Scholarship: Incoming freshman can receive up to $20,000 over the course of four years. This scholarship is based on academic merit.
Community College Transfer Alumni Scholarship: The Community College Transfer Alumni Scholarship is awarded to students who attended community college before transferring to UCLA.
Out-of-State Alumni Scholarship: Prospective students who don’t live in California might qualify for the Out-of-State Alumni Scholarship. This award is divided into equal installments and distributed over the course of four years to incoming freshman.
Department-specific scholarships: Some academic departments offer their own scholarships to new students. Visit UCLA’s scholarship resource center for information about the available scholarships.
Middle Class Scholarship: The Middle Class Scholarship provides scholarships to undergraduate students whose families make up to $165,000 per year.
Campus-specific scholarships: Depending on which campus you choose, you might qualify for additional scholarships based on academic merit or financial need. Each school has its own stipulations, so check each campus’ requirements.
If you’re a California resident, grants are another form of free money you can use to pay for school. Like scholarships, grants don’t have to be paid back. They’re a useful tool to reduce your college costs and limit how much you need to borrow to pay for school.
California residents might qualify for one of the following state-issued grants:
Cal Grant: U.S. citizens or eligible noncitizens can receive up to $12,630 through the Cal Grant program, as of the 2018-2019 school year.
California Chafee Grant for Foster Youth: Students who are currently in foster care or were in foster care can receive up to $5,000 per year through the Chafee Grant for Foster Youth program.
California Dream Act: The California Dream Act allows some undocumented students to receive state-based financial aid and institutional scholarships. To apply, students must complete the California Student Aid Commission worksheet.
3. Payment plan
UCLA offers the BruinPay Plan (BPP), a payment plan which allows you to make either three quarterly payments or four semesterly payments, rather than pay the full tuition bill upfront. When you receive your electronic bill, you’ll see an option for BPP. Once you enroll, you can make a payment with a credit card or bank account.
BPP is a term-based plan, so you must enroll at the beginning of each term. All students are eligible for BPP as long as they meet the following criteria:
You have no outstanding short-term loans.
You don’t have a balance from a previous term.
You don’t have three or more returned check payments.
You don’t have one or more returned credit card payments.
You’re not covered in full by financial aid.
4. Federal student loans
If you’ve exhausted all of your scholarship and grant opportunities and still need money for school, federal loans are a smart next step. Federal loans tend to have lower interest rates and more generous repayment terms than other forms of debt, so they’re a more cost-effective option.
As an undergraduate student, you can access the following types of loans:
Direct Subsidized Loans: With Subsidized Loans, the government covers the interest that accrues while you’re in school, during your grace period after graduation, and if you enter your loans into deferment. That benefit can help reduce how much you owe over time.
Direct Unsubsidized Loans: Unlike with subsidized loans, the government doesn’t cover interest charges on unsubsidized loans. However, they still have low interest rates, so they can be a useful tool to pay for school.
Parent PLUS Loans: If your parents are willing to help you pay for school, they can borrow as much as you need to cover the total cost of attendance with a PLUS Loan.
5. Private student loans
There are some cases when you cannot qualify for enough scholarships, grants, and federal loans to cover all of your education expenses. If you need more money to pay your tuition bill, another option to consider is taking out a private student loan.
Unlike federal loans, private loans are offered by private banks and financial institutions. Although they tend to have higher interest rates and fewer repayment benefits than federal loans, they can be a useful way to get the money you need to pay your school’s bill.
Before applying for a loan, make sure you compare offers from multiple private student loan lenders to ensure you get the best deal.
Understanding your financial aid options
If you’re trying to figure out how to pay for UCLA, your first step should be to complete the Free Application for Federal Student Aid (FAFSA). Both schools and the federal government use the FAFSA to determine how much aid you can receive, including grants and loans.
If you’re not sure where to start, follow this step-by-step guide to filling out the FAFSA.
Need a student loan?Here are our top student loan lenders of 2018!
|1 Important Disclosures for CollegeAve.
College Ave Student Loans products are made available through either Firstrust Bank, member FDIC or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
2 Important Disclosures for Discover.
3 Important Disclosures for Ascent.
Before taking out private student loans, you should explore and compare all financial aid alternatives, including grants, scholarships, and federal student loans and consider your future monthly payments and income. Applying with a cosigner may improve your chance of getting approved and could help you qualify for a lower interest rate. Ascent Student Loans may be funded by Richland State Bank (RSB) or Turnstile Capital Management, LLC (TCM), which are not affiliated entities. Certain restrictions and limitations may apply. Ascent Student Loan products are subject to credit qualification, completion of a loan application, verification of application information and certification of loan amount by a participating school. All loan products may not be available in certain jurisdictions. Other terms and conditions apply. Ascent is a federally registered trademark of TCM and may be used by RSB under limited license. Richland State Bank is a federally registered service mark of Richland State Bank.
* Application times vary depending on the applicants ability to supply the necessary information for submission.
* The Sallie Mae partner referenced is not the creditor for these loans and is compensated by Sallie Mae for the referral of Smart Option Student Loan customers.
4 = Sallie Mae Disclaimer: Click here for important information. Terms, conditions and limitations apply.
5 Important Disclosures for PNC.
PNC Bank is one of the nation’s largest education loan providers. For over 40 years, PNC has been committed to helping students and their families make possible the adventure of college.
6 Important Disclosures for SunTrust.
Before applying for a private student loan, SunTrust recommends comparing all financial aid alternatives including grants, scholarships, and both federal and private student loans. To view and compare the available features of SunTrust private student loans, visit https://www.suntrust.com/loans/student-loans/private.
Certain restrictions and limitations may apply. SunTrust Bank reserves the right to change or discontinue this loan program without notice. Availability of all loan programs is subject to approval under the SunTrust credit policy and other criteria and may not be available in certain jurisdictions.
SunTrust Bank, Member FDIC. ©2018 SunTrust Banks, Inc. SUNTRUST, the SunTrust logo and Custom Choice Loan are trademarks of SunTrust Banks, Inc. All rights reserved.
7 Important Disclosures for LendKey.
Additional terms and conditions apply. For more details see LendKey
8 Important Disclosures for CommonBond.
A government loan is made according to rules set by the U.S. Department of Education. Government loans have fixed interest rates, meaning that the interest rate on a government loan will never go up or down.
Government loans also permit borrowers in financial trouble to use certain options, such as income-based repayment, which may help some borrowers. Depending on the type of loan that you have, the government may discharge your loan if you die or become permanently disabled.
Depending on what type of government loan that you have, you may be eligible for loan forgiveness in exchange for performing certain types of public service. If you are an active-duty service member and you obtained your government loan before you were called to active duty, you are entitled to interest rate and repayment benefits for your loan.
A private student loan is not a government loan and is not regulated by the Department of Education. A private student loan is instead regulated like other consumer loans under both state and federal law and by the terms of the promissory note with your lender.
If your private student loan has a fixed interest rate, then that rate will never go up or down. If your private student loan has a variable interest rate, then that rate will vary depending on an index rate disclosed in your application. If the interest rate on the new private student loan is less than the interest rate on your government loans, your payments will be less if you refinance.
If you don’t pay a private student loan as agreed, the lender can refer your loan to a collection agency or sue you for the unpaid amount.
Remember also that like government loans, most private loans cannot be discharged if you file bankruptcy unless you can demonstrate that repayment of the loan would cause you an undue hardship. In most bankruptcy courts, proving undue hardship is very difficult for most borrowers.
9 Important Disclosures for Citizens Bank.
Citizens Bank Disclosures
|3.69% – 10.94%1||Undergraduate, Graduate, and Parents||Visit CollegeAve|
|3.82% – 12.82%3||Undergraduate and Graduate||Visit Ascent|
|4.34% – 12.99%2||Undergraduate and Graduate||Visit Discover|
|4.12% – 10.98%*,4||Undergraduate and Graduate||Visit SallieMae|
|5.03% – 11.23%5||Undergraduate and Graduate||Visit PNC|
|3.88% – 12.88%6||Undergraduate and Graduate||Visit SunTrust|
|4.72% – 9.81%7||Undergraduate and Graduate||Visit LendKey|
|3.72% – 9.68%8||Undergraduate, Graduate, and Parents||Visit CommonBond|
|4.04% – 12.01%9||Undergraduate, Graduate, and Parents||Visit Citizens|