With the global economic crisis heightening families" concerns about college costs, UC campuses have now unveiled interactive Web estimators that provide prospective students and their families with personalized projections of how much financial aid they may expect to receive to finance a UC education. Estimators for each UC campus can be found at: www.universityofcalifornia.edu/admissions/paying.html.

Until recently, families had no way of estimating the true cost of a UC education unless a student had already been admitted, had applied for financial aid and had received an award letter.

But thanks to the new online financial aid estimators that is no longer true. Now, even before applying for admission, parents and students can get an estimate of the aid that may be available to them based on their unique financial circumstances, including their annual income, assets and family size.

"Families are understandably anxious about rising college costs, a tightening credit market and an uncertain economy," said UC President Mark G. Yudof. "But I believe this new Web-based tool will reassure many students and their families that a UC education is indeed within their reach. In some cases, families may be truly surprised by the amount of scholarship and grant aid they would be eligible to receive."

In 2008-09, UC undergraduates will receive about $1 billion in grants and scholarships from a combination of state, federal, and university sources, the overwhelming majority of which is awarded based on need.

For many low- and middle-income students, grants and scholarships greatly reduce the total cost of a UC education, which includes fees, living expenses, books and supplies, health insurance, transportation and other costs.

To use the estimators, students enter basic information about their family, such as income and assets, family size and the number of students enrolled in college. The tool then displays a possible financing plan, which includes the estimated grant assistance the student might receive, the estimated amount the student would be expected to contribute through a manageable level of work and borrowing, and an estimated parent contribution from savings, current income, borrowing or other sources.

"We want to reassure parents and students that as California's only public research university, UC takes very seriously its responsibility to keep a world-class education within reach of the state's families," Yudof said. "What students gain from investing in a UC education now will pay dividends throughout their careers."

The University of California continues to lead the nation among highly ranked universities in its ability to enroll low-income students. Over 30 percent of UC undergraduates are from low-income families - far more than at comparable national universities.

In addition, more than half of UC's undergraduates receive grants and scholarships, averaging $10,300 a year, and nearly two-thirds are eligible for subsidized work-study jobs or low-interest loans. The university also redirects a third of all fee increase revenue back into financial aid for students who need it.

The online estimators provide financial aid estimates only. To receive financial aid, students must still apply. UC urges all students to apply for financial aid by filing a Free Application for Federal Student Aid (FAFSA) and a Cal Grant GPA Verification Form prior to March 2, 2009, to be considered for aid for the 2009-10 academic year.