# Financial Aid and Scholarships

**Source**: https://financialaid.ucdavis.edu/loans/graduate
**Parent**: https://financialaid.ucdavis.edu/loans

# Loans for Graduate Students

## Graduate Student Loans

Loans are a form of financial aid that must be repaid. Educational loans have varying fees, interest rates, repayment terms, and/or borrower protections. Borrowers must submit a Free Application for Federal Student Aid, the [FAFSA](https://studentaid.gov/h/apply-for-aid/fafsa), and meet [eligibility requirements](https://studentaid.gov/understand-aid/eligibility/requirements) to receive loans.

[Interest rate and loan fees](https://studentaid.gov/understand-aid/types/loans/interest-rates )for the year are determined annually on July 1.

## Upcoming changes to graduate borrowing

*Beginning July 1, 2026, federal law will change how graduate borrowing wo*rks.

**Legacy borrowers, students who borrow a Graduate PLUS Loan before July 1, 2026:**

- May borrow **up to $20,500 per year** through the Direct Unsubsidized Loan
- Additional funding through the [**Graduate PLUS Loan**](https://financialaid.ucdavis.edu/graduate/loans/PLUS), which helps cover remaining educational costs up to the full cost of attendance

**New borrowers, students who** **have not borrowed before July 1, 2026:**

- May borrow **up to $20,500 per year** through the Direct Unsubsidized Loan
- Graduate PLUS Loans will no longer be available
- Students may have the option to explore [**private loans**](https://financialaid.ucdavis.edu/loans/private) for additional funding

### Locating your loan servicers

Visit [Federal Student Aid](https://studentaid.gov/) to log in and locate your federal loan servicer(s). Contact your loan servicer for additional details.

### Accepting Loans

You can accept all or a portion of your loan at any time during the academic year, although it is important to note that the deadline to accept an offered federal and/or institutional loan for each academic year is mid-May.

#### Steps to accept a loan:

- Log into [MyAwards](https://financialaid.ucdavis.edu/aboutmyawards)
  - Accept all or a portion of the loan(s)
  - Go to the requirements tab. Review and complete loan requirements:
    - Promissory Note
    - Entrance Counseling
- Review important dates to confirm when the school will begin to satisfy loan requirements. Keep confirmation of the completed requirements for your records.

### Declining or reducing loans

Borrowers can decline all or part of the loan. Direct loan fund revisions may be requested within 120 days of the disbursement date. A balance may be created if the loan funds you are declining have already been applied to your [MyBill](https://mybill.ucdavis.edu/) account. Visit [MyBill](http://mybill.ucdavis.edu/) to review and repay any account balances created by the revision request.

**Note:** If the request is received outside of the 120-day disbursement period, the school will make a partial loan revision and direct you to the appropriate loan servicer for repayment guidance.

#### Steps to decline or reduce a loan:

- Log into [MyAwards](https://financialaid.ucdavis.edu/aboutmyawards)
  - Select "Awards"
  - Scroll down to select “submit a change in aid request”
  - Select "Make changes to my loans"
  - Submit form for processing

### Federal loan updates

Learn how the One Big Beautiful Bill, or OBBB, Act affects your federal loan borrowing. Visit [**Changes to federal student loans**](https://financialaid.ucdavis.edu/loans/federal-loan-update).

[**Direct Loan Fee Calculator**](https://financialaid.ucdavis.edu/loans/before/calculator)

[**University Loans**](https://financialaid.ucdavis.edu/loans/university)

[**Major-Specific Loans**](https://financialaid.ucdavis.edu/loans/specific)

[**Private Loans**](https://financialaid.ucdavis.edu/loans/private)

[**Emergency and Short-Term Loans**](https://financialaid.ucdavis.edu/loans/short-term)

[**Corbett Disclosure**](https://financialaid.ucdavis.edu/loans/corbett)

[Before You Borrow](https://financialaid.ucdavis.edu/loans/before)

[Keeping track of loans](https://financialaid.ucdavis.edu/loans/keeping-track)

[Repaying loans](https://financialaid.ucdavis.edu/loans/repaying)