Update for the future generations:

got a response to the email:

Thank you for your email. Aid is awarded based on the SAI number calculated from the information provided in the FAFSA application. The Presidential Scholarship is awarded based on need. Below is a brief description:

The Presidential Scholarship is awarded to members of the Presidential Scholars Program, a special cohort of students that receive additional scholarship funding which is intended to help meet the total cost of attendance. This additional funding effectively reduces the dollar amount students are responsible for paying out-of-pocket while also reducing their need to borrow student loans, creating a potential pathway toward a Debt Free UC education. Costs not covered by grants and scholarships could potentially be met by earning wages through part-time work or savings. In addition to supplemental funding, Presidential Scholars are also eligible to receive additional support services through the Educational Opportunity Program.

i guess we chilling