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California Dream Loans

Learn about California Dream loans for undergraduate students.

California Dream Loan

Annual amount: $2,000 per year, depending on your need

Aggregate Limits: $20,000

Need-based/subsidized? Yes. No interest accrues during in-school, grace, and authorized deferment periods. You begin paying interest after you leave school, or when your grace/deferment period ends.

Awarded and disbursed by: UCSD

Interest rate: Interest rate matches subsidized Direct Loan rate (3.76% for July 2016 – June 30, 2017)

Loan fees: None

Repayment of principal and interest begins 6 months after your full-time or half-time enrollment ends.

To borrow the California Dream Loan:

  1. File your California Dream Act Application and provide any requested documents before the deadlines.
  2. If UCSD notifies you of a California Dream loan, accept the award online using the Financial Aid tool.
  3. Sign the California Dream Loan Master Promissory Note and return to Student Business Services. This document confirms your agreement to repay the loan.

    You may mail your original California Dream Loan Prom Note to:
    Student Business Services
    9500 Gilman Dr. Dept 0050
    La Jolla, CA 92093-0050

  4. Complete online entrance loan counseling (first-time borrowers only).
  5. Loan funds will be credited to your UCSD student account (read more about how you get your money).