Financing Your Education
“An investment in knowledge pays the best interest.”
– Benjamin Franklin
A Berkeley OD degree is an investment in a rewarding career and in yourself. Numerous programs – from fellowships and loans, to fee reductions and loan forgiveness – create paths to finance the cost of your graduate studies.
UC Berkeley Fellowships and Awards
Over $1.5 million in fellowships and awards are made annually by UC Berkeley to our current students.
All OD students in good standing receive these monetary awards. Depending on availability of funds, students receive a total award of approximately $19,000 spread out over the 4 year program – with domestic non-residents receiving an additional $5,000 in the first year of study, and international students receiving an additional $20,000 over the four years.
You do not need to apply for these awards. They are automatically applied to all students in good standing.
Graduate Opportunity Program Fellowships
Six Graduate Opportunity Program fellowships will be awarded in the 2020-2021 year to incoming first year students who demonstrate significant financial need and whose backgrounds, interests, or goals serve to enhance the level of diversity within the graduate community.
Subject to funding availability, these awards provide a $10,000 stipend ($5,000 per semester) and in-state fees for one academic year. Eligible applicants (including US citizens, permanent residents, and AB540 applicants) who wish to be considered for these awards should submit additional documentation and information as described in the application for admission. This award supplants the Departmental Award in year one of the OD program.
Professional Student Support Funds Scholarships
Over $150,000 is awarded annually through Professional Student Support Fund (PSSF) scholarships. These awards, available to continuing students, are made possible through the generosity of faculty and alumni of the school.
The UC Berkeley Financial Aid and Scholarships Office works closely with students to make a priceless UC Berkeley education an affordable reality.
Federal financial aid can include work-study, loans, and other sources of financial aid. The programs are based on demonstrated financial need and require a Free Application for Federal Student Aid (FAFSA). Only U.S. citizens and eligible non-citizens (those holding permanent resident cards) may apply for funds administered by the Financial Aid Office.
The FAFSA school code for UC Berkeley is 001312.
Types of Aid - http://financialaid.berkeley.edu/explore-types-aid
Who is Eligible for Financial Aid? - http://financialaid.berkeley.edu/eligibility
Financial Aid at a Glance - http://financialaid.berkeley.edu/financial-aid-glance
Financial Aid Calculator - http://financialaid.berkeley.edu/estimate-your-financial-aid
Health Professions Student Loan
A Health Professions Student Loan (HPSL) is a subsidized low-interest loan limited to Optometry students on the UC Berkeley campus. Students typically receive around $7,500 of HPSL per academic year. Annual loan amounts can vary and are determined each year based on fund availability.
To be considered for an HPSL, Optometry students need to include parent information on their Free Application for Federal Student Aid (FAFSA), regardless of their independent status for all other programs. Learn More
Public Service Loan Forgiveness
The Public Service Loan Forgiveness (PSLF) Program forgives the remaining balance on your Direct Loans after you have made 120 (10 years) qualifying payments under a qualifying repayment plan while working full-time for a qualifying employer. Loans will only be forgiven if you meet all PSLF Program eligibility conditions. Learn More
OD students also have many additional outside scholarship opportunities throughout their four years in the program. The following list is not exhaustive and students are encouraged to seek out additional opportunities that may be available.
Awards can range between $1,000-$5,000 dollars and are provided by various organizations across the country: including non-profits, health and medical corporations, and optometric associations.
Veteran’s educational benefits for eligible servicemen and women can provide significant financial assistance. UC Berkeley Veteran Services offers information related to the types of benefits, certification of benefits, contact information for dedicated support, and campus resources for students who have served in the military.
Eligibility for veteran’s educational benefits is determined by the U.S. Department of Veterans Affairs (VA), not by UC Berkeley. You may apply for veterans’ educational benefits online through Veterans On-Line Application (VONAPP).
Military Health Professions Scholarship Program
Current students, who are eligible, can apply for scholarships funded by branches of the US Military. Some awards can cover 100% of costs including tuition and living expenses. Military service is required after graduation. For more information please see links below.
OD students have three possible options for lowering their cost of attendance: in-state tuition, ‘In Absentia’ registration status, and SHIP waivers.
Becoming a California Resident
After the first year of the program, non-resident U.S. citizens and permanent residents may apply to become in-state residents. This will reduce your fees by removing the non-resident supplemental tuition in the subsequent semesters.
In Absentia Registration
University of California academic and professional graduate students who undertake research or coursework related to their degree programs outside of California, or outside the seven Bay Area counties may receive an 85% reduction in the Educational and Registration fees for one semester while they are away. OD students who qualify for ‘In Absentia’ status can reduce their University bill by approximately $6,000 for one semester in the fourth year of the program.
Students may be eligible to waive the Student Health Insurance Plan (SHIP) provided by UC Berkeley. Students can save about $2,600 per semester. Please visit the SHIP website for more information: https://uhs.