There is a more in-depth explanation of scholarships in the continuing students section of the Berkeley Financial Aid Web Page. Because federal funds pay a portion of work-study wages, many jobs are held open for students. Federal Work-Study students often find employment that matches their field of study and can usually plan job schedules around academic work. Students generally work no more than 15 hours per week during school, but may work full time during vacations. Loans Interest rates and repayment arrangements vary under the different student loan programs.
Loans are valuable resources, but they also entail serious long-term obligations.
Interest charges and repayment begin nine months after you graduate or drop below half-time enrollment. Federal Direct Loans are offered by the federal government. The federal government pays your interest while you are in school. You begin repayment six months after you graduate or drop below half-time enrollment. Annual interest varies according to the rate in effect at the time you receive your first loan.