Evening & Weekend MBA Program
Financial Aid Information
FEE ASSESSMENTS
Fees are assessed by UC Berkeley on a per-unit basis ($2049.00 per unit). The University has three additional fees that cannot be included in the per-unit fee assessment. The first of these three fees is the Transit Fee (CLPASS fee) of $117.00 per year which was voted on by the UC Berkeley student body. All students must pay this fee separately, and it cannot be waived. The second additional fee is the Safeguard Student Health Care Fee of $89.00 per year. The third additional fee is the Graduate Student Health Insurance Fee (HLTHINS fee) of $1458.00 per year, which can be waived by submitting the health insurance waiver form. To complete the form, you will need an active CalNet ID and details about your health insurance plan, such as the company name and phone number, group number, the policy holder's identification number, and the name of a Bay Area healthcare facility covered by the plan. The health insurance waiver form must be completed each year.
NOTE: FEES ARE SUBJECT TO CHANGE WITHOUT NOTICE.
BILL PAYMENT
Fees are billed from the main campus system, CARS (Campus Accounts Receivable System). Bill payment is due promptly on August 15 for fall semester and January 15 for spring semester. The University only accepts online transfers, cash, money orders, or checks for fee payment; credit cards or debit cards are not accepted. Payments are accepted via the following methods:
- Online through CARS e-bill/e-check which is accessed via BearFacts. You will need your CalNet ID (aka Student ID) to access the system. There is a fifty cent non-refundable convenience fee for every transaction submitted through that service.
- By Mail
Mail fee payments to:
Billing and Payment Services
University of California Berkeley
P.O. Box 24610
Oakland, CA 94623-1610
Mail employer vouchers to:
Student Accounting
University of California
461 University Hall #1102
Berkeley, CA 94720-1102 - In Person
Pay in person at the Cashier's Office, M- F, 8:30 AM - 4 PM (140 University Hall, 510.643.9803) - To wire funds to the University, you will need the following:
UC's Bank: Bank of America
Bank ABA Routing #: 121000358
Bank Account #: 0175380001
Bank Address:
1850 Gateway Blvd
Concord, CA 94520
Beneficiary: UC Regents
Reference: You must include your SID number. Include name if there's room.
UC Berkeley's bank may assess a $15-$25 fee for receiving a wire. If so, this fee will be deducted from the amount credited to the student's CARS account.
Checks or money orders must be in U.S. dollars from a U.S. bank payable to " UC Regents". Write your Student ID number on your remittance.
Regardless of method selected, late payments may result in a late fee being applied to your bill each month.
DEFFERED PAYMENT PLAN (DPP)
A Deferred Payment Plan exists for those students who prefer to pay in five equal monthly installments. Twenty percent of the total assessed semester's fees are due on each of the payment dates. These dates are subject to change. A non-refundable participation fee of $40 is charged each semester for the DPP.
Fall 2007 payments are due:
August 15
September 15
October 15
November 15
December 15.
Spring 2008 payments are due:
January 15
February 15
March 15
April 15
May 15
EMPLOYER TUITION ASSISTANCE
The majority of Haas Evening & Weekend MBA students receive some form of employer tuition support. Applicants are encouraged to contact their human resources departments to determine their eligibility for this type of benefit.
TUITION REFUNDS
Should you be required to withdraw from the program, semester refunds of both UC and Haas fees are prorated according to the following schedule:
*If you are a new student receiving financial aid and need to withdraw, please contact the program office at (510) 642-1406 for refund percentages. * Special rules apply to second 8-week course.
HAAS FINANCIAL AID OFFICE
The Haas School's Assistant Director of Financial Aid, Charles W. Conn, can assist you in the financial aid process. Charles is available in the Student Services Building, Room 420L, and can be reached by email or phone at 510.643.0183. He is your point of contact, rather than the central campus financial aid office.
FINANCIAL AID OPPORTUNITIES
Many students at the Haas School of Business find they require some assistance in paying expenses associated with returning to school on a part-time basis. Available financial assistance for the Evening & Weekend MBA Program is described below.
Much of the assistance available at United States universities is funded by the federal government which restricts its programs to U.S. citizens and U.S. permanent residents. If you are neither a U.S. citizen nor a permanent resident, your options are the Evening & Weekend Grant Program and the private loan programs that are described below.
THE HAAS EVENING & WEEKEND MBA PROGRAM GRANT
All entering and continuing students in the Evening & Weekend MBA program, including international students, are eligible to apply for this grant. Students must apply annually for the Evening & Weekend MBA Grant. Continuing students must meet grant criteria, demonstrate significant financial need, and maintain satisfactory academic progress each year in order to be considered. Grant funding is not guaranteed from year to year.
The Evening & Weekend MBA grant is awarded primarily on the basis of financial need. However, given the limited pool of funds, we are not able to meet the needs of all who apply. Net financial need is calculated by the Haas Financial Aid Office using guidelines established by the federal government.
In order to be considered for the Grant, students must apply for and accept all loans available through federal loan programs (both subsidized and unsubsidized loans). Students who fail to comply with this requirement will not be awarded funds and will be asked to return any EWMBA Grant funds already awarded in that academic year.
In general, students who meet any of the following criteria will not be considered for a grant, unless there are special circumstances:
- You have a total annual household income (Adjusted Gross Income) of $100,000 or more.
- You have primary home equity in excess of $100,000.
- You have other assets and investments (e.g., stocks, bonds, mutual funds not including retirement accounts) valued at $50,000 or more.
- You are receiving 50% or more in tuition assistance from your employer.
Complete details, including application materials can be found here.
EVENING & WEEKEND MBA PROGRAM SCHOLARSHIPS
There are three scholarships available for continuing Evening & Weekend MBA students:
The Daniel Turner Scholarship is a $5000 annual award targeted at continuing students engaged in entrepreneurial ventures, specifically those without company affiliations to provide financial support. Refer here for more information.
The David Engelbrecht Scholarship, a $1000 annual award funded by a memorial gift of friends and family of the class of 2000, is given to continuing students who have demonstrated academic excellence and financial need.
The Przybylski Deatrick Scholarship Fund provides support to EWMBA students. Support is need-based, with a preference for single mothers and/or women returning to the work force.
For further information on the above scholarships, please phone the EWMBA Program Office at 510.642.0292.
FEDERAL DIRECT LOANS
U.S. citizens and U.S. permanent residents can finance their education through the Federal Direct Loan Program - up to $20,500 annually may be borrowed (minus a 3% origination fee). Those students demonstrating financial need, assessed through the FAFSA (Free Application for Federal Student Aid) process, may borrow up to $8,500 in a subsidized loan (no interest is charged while the student is in school) and $12,000 in an unsubsidized loan (interest is charged while the student is in school.) Those who do not demonstrate financial need can borrow up to the full $20,500 in an unsubsidized loan. Eligibility for the loans is based on student status and cost of education, not credit history.
The interest rate on Direct Loans first disbursed on/after July 1, 2006 is a fixed rate of 6.8%. Repayment begins after the grace period of six months following graduation or dropping below half-time enrollment (6 units), and is made over a 10-25 year term with no prepayment penalty. Complete information about the Direct Loan program can be found online at http://www.ed.gov/DirectLoan/about.html. Further details are also available with your online Direct Loan Master Promissory Note and online Entrance Counseling for Borrowers.
PRIVATE STUDENT LOANS
If students need to supplement the amount of Direct Loan funds for which they qualify, several supplemental programs are offered through various sources. All of the supplemental loan programs are based on creditworthiness and carry higher interest rates which, depending on the program, are either fixed or adjusted on a quarterly or monthly basis. The Haas School's Office of Financial Aid has compiled a Supplemental Loan Options Overview and Comparison Chart detailing information about the supplemental loan programs, as well as a comparison chart of some of the available options.
As with the Direct Loans, the supplemental loans are disbursed one-half in the fall semester and the remaining one-half in the spring semester.
INTERNATIONAL STUDENTS AND PRIVATE LOANS
International students (including those on an H1-B visa) can apply for private loans, either with or without a creditworthy US citizen or US permanent resident as a co-signer. Loan terms may be better if you have a co-signer, depending on creditworthiness. You must accept admission to Haas before applying for a private loan and funds can only be used for study at Haas. The Haas School offers three no co-signer private loan programs to EWMBA international students; for more information on the loan programs, including a comparison chart and application instructions.
THE FINANCIAL AID PROCESS - DETAILS
Financial aid is offered on an annual basis, and students must reapply for aid for their second or subsequent years. Application filing begins in January for the following academic year.
- While US citizens and US permanent residents are urged to file for aid by March 2, one can still apply after that date for Direct Loan consideration. The FAFSA Federal School Code for Berkeley is 001312. U.S. citizens and U.S. permanent residents file the 2006-2007 FAFSA (Free Application for Federal Student Aid) via the web at http://www.fafsa.ed.gov. The FAFSA asks for your (and spouse, if married) total 2005 calendar year taxable and nontaxable income, federal tax paid, and the current value of your assets, excluding primary home equity and retirement accounts. Refer to the tips at /MBA/finaid/fafsa.html#Tips
- If you provide an e-mail address, you will get a link to the Student Aid Report (SAR) data (the results) quicker. Most communication will be done electronically. The SAR lists your Expected Family Contribution (EFC); review it carefully for messages regarding your application status and database matches. If there are no problems with your application, your data will be electronically transmitted to Berkeley in approximately four weeks. Do not mail us the Student Aid Report (SAR).
- Notification is sent to those applicants whose FAFSA information is selected for verification by Berkeley. The campus criteria for selection are different than the federal criteria so one only needs to submit additional documentation if requested by Berkeley. The documentation includes completion of the verification form and your 2005 federal 1040, including all schedules and W-2s. Also, if you did not pass all FAFSA database matches, you may be asked for items such as citizenship, social security or selective service registration documentation. Tax returns can be mailed or faxed but documents verifying citizenship, social security number or selective service registration must be presented in person at the Haas Financial Aid Office. Once your documents are received it will take approximately 3-4 weeks before a Financial Aid Award Notification generates. Award Notification letters are produced on a rolling basis and you must be admitted to Haas.
- The FAFSA data will be evaluated to determine your Student Contribution (SC). Your SC and other resources (e.g., employer support, etc.) are then subtracted from your cost of education; the difference is your financial need. If your SC is greater than your cost of education, you will not qualify for need-based financial aid (Federal Direct Loan); however, you may borrow a non-need-based loan (Federal Direct Unsubsidized Loan or private student loan).
- Most financial aid correspondence will come from the central campus financial aid office, and it will generally be electronic. Access your campus financial aid, CARS, and registration info via BearFacts, by using your UC Berkeley student identification number (SID; also known as Calnet ID) and Berkeley personal information number (PIN; or passphrase). Use this site to update your address and access your financial aid information.
- We frequently utilize e-mail to notify admittees and students of important financial aid information. Once matriculated you will have a Haas e-mail account. Prior to this, please keep the Haas Financial Aid Office apprised of your personal e-mail address.
- After receiving the Financial Aid Award Notification, log on to the BearFacts system to accept or decline your financial aid awards.
- If you have not received a Federal Direct Loan since 1999, complete the online Master Promissory Note. Follow the instructions on the website carefully. UC Berkeley cannot apply your loan award to your Campus Accounts Receivables System (CARS) account until we receive electronic notification that you have completed your promissory note. Students who have received funds from a Federal Direct Loan in the last three years have already fulfilled this requirement.
- If you have not previously borrowed a Direct Loan at UC Berkeley, federal regulations require that you complete an online Entrance Counseling session before funds can credit your account. If you successfully pass the quiz, UC Berkeley will receive electronic notification that you have completed the Entrance Counseling requirement.
- Once all documents are properly executed and you are enrolled for at least 6 units, then your federal financial aid will credit your CARS account. However, if your aid is not enough to fully cover your registration fees (this is true for Evening & Weekend Program MBA students), then you must personally pay the remaining balance by the due date or risk incurring a Deferred Payment Plan charge ($40) and a late charge ($50).
FINANCIAL AID DISBURSEMENT
All financial aid payments (including supplemental loans) are made in two disbursements: one-half in the fall semester and one-half in the spring semester. Funds cannot be disbursed until 10 days prior to the beginning of classes. Federal and private loans are paid directly to your CARS account. If a balance remains after fees are paid in full, it is refunded to you via check or EFT. Funds cannot credit your CARS account until you are enrolled in at least six units and have accepted your loans on BearFacts and have completed your Direct Loan Master Promissory Note and Direct Loan Entrance Counseling Session (both of which are done online).
PLEASE NOTE: Due to the timing of when new students enroll in fall classes, the system's uploads and interfaces that must occur, funds will probably not be disbursed until two-three weeks after classes start.
Suggestions to Simplify Things:
- Sign up for Electronic Funds Transfer (EFT) - if there is a remainder due from your federal loan, the University can directly deposit the money in your bank account. Private loans cannot be EFT'd. You must sign up for EFT at least thirty days before expecting to receive financial aid. This option is strongly recommended. Download the form at http://fbs.berkeley.edu/forms/disb/EFT%20Form.pdf
- Be sure BearFacts has valid local and permanent mailing addresses for you at all times.
- If you do not understand your financial aid correspondence, please stop by to talk to John. Do not just ignore the bill, letter, or whatever. These matters do not resolve themselves.
Deferment of Prior Education Loans
For most federal education loans (such as the Federal Direct, Federal Stafford, or Federal Perkins Loans), you may defer your loan payments while you are enrolled at least half-time at Haas. Obtain a loan deferment form from your lender or loan servicer and submit it to the Haas Financial Aid Office, S420K. Once you are registered and the add/drop period for the current term is passed (usually the fifth week of the term), the UC Berkeley Office of the Registrar will verify your registration on the deferment form. Unfortunately, Haas cannot provide the verification for you. You will need to repeat this procedure each semester and, depending on loan payment due dates, may need to make loan payments in August and September as the verification is somewhat delayed.
Loan Exit Session
If you have borrowed a federal or private loan for study at Haas, you will be required to complete a loan exit counseling session online prior to graduation. Repayment plans, electronic debit option, loan consolidation and other important information will be reviewed.
For More Information
If you have other questions, please contact:
Haas Financial Aid Office
S420L Haas School of Business, #1900
University of California, Berkeley, CA 94720-1900
Telephone: 510.643.0183
Fax: 510.642.9387
E-mail: finaid@haas.berkeley.edu
Web: /EWMBA/finaidho.html
