… Asked Questions (UC) … Frequently Asked Questions … What is financial aid? … Financial aid is money that students may use to help cover the cost of their education that is made available by federal and state governments, as well as public … to complete the financial aid application, such as tax returns, W-2s, permanent residency, etc. The Financial Aid Office may request that you prove (verify) any information that you and/or your contributors reported on your financial aid … and loans are typically paid once a semester. Work-Study earnings are paid every two weeks. Financial aid recipients may also request to have their funds electronically transferred to their savings or checking bank accounts as an option …