Private and Supplemental Loan Options
The University of California Office of the President, in coordination with the various UC campuses, has developed a preferred lender list comparison chart of the private loan options available to students. The lender list was developed through a competitive RFI process and finalized June 9, 2008 for the 2009-2010 academic year.
Students are welcome to choose any lender, regardless of whether the lender appears on the preferred private loan comparison chart
Additional Incentive from Chase!
In communication with Chase we have received some additional incentives that Chase is offering Haas students. The interest rate margins for you are lower than the standard tiers posted on the comparison chart. The interest rate will be as low as the 3-month LIBOR + 3.2% up to the 3-month LIBOR + 7.5%. This results in an interest rate reduction of up to 2.75%.
US Citizen & Permanent Resident Options:
Students who are US Citizens or Permanent Residents can borrow up to $20,500 through the Subsidized/Unsubsidized Direct Loan program each academic year. However, students often borrow additional funds through a supplemental loan--either the Federal Direct Grad PLUS Loan or a private loan--to meet the remaining budgeted cost of attendance.
While it is recommended that students utilize the federal loan programs first, we understand that based on individual circumstances a private loan may be more appealing to some students. Ultimately, it is the student's choice. The Haas Schools' Office of Financial Aid encourages students to compare the benefits associated with the different loan types--and in the case of private loans, benefits offered by different lenders--so that each student is able to make an informed choice. For information on the Grad PLUS Loan, please refer back to the Federal Loan section of this website.
International Student Options:
Effective October 2, 2008, the only loan programs from US financial institutions available to International students almost exclusively require the student to apply with a credit-worthy US Citizen or Permanent Resident co-signer at most institutions.
Important Notes:
Students need to be enrolled at least half-time (6 units) each semester that you wish to receive loans.
The Haas School's Office of Financial Aid does not receive, and will not accept, inducements from lenders in exchange for inclusion in the Preferred Lender List, nor does the Haas School share in the profits from student loans.
Loans are always disbursed in two payments, 50% each semester, after you are enrolled for classes. Loan proceeds will credit your CARS account and pay any outstanding charges. If a balance remains, the refund will be sent to your bank account if you have completed an EFT (Electronic Funds Transfer) Agreement, http://eftstudent.berkeley.edu
