MBA Finances


Supplemental Loan Options for Haas MBA Students




US Citizens & permanent residents:
Students who are citizens or permanent residents of the US are able to borrow a maximum of $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.

The choice of which type of loan to use is one that rests with each individual student. 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. 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.

 

To make the selection process easier, the Haas School's Office of Financial Aid has compiled two Supplemental Loan Options Overview and Comparison Charts which detail the Federal Direct Grad PLUS Loan as well as three private loan programs:

The private loan programs listed are from three separate lenders that have consistently provided competitive pricing and outstanding service for the students at Haas. Students are welcome to choose any lender, regardless of whether the lender appears on the comparison chart; however, we urge students to use the chart as a tool in determining whether or not a loan program they are considering is as competitive as those that are listed.

 

The Haas School's Office of Financial Aid does not receive, and will not accept, inducements from lenders in exchange for inclusion in the Supplemental Loan Comparison Chart; nor does the Haas School share in the profits from student loans.



International Students:
The Haas School of Business is pleased to announce the availability of funding for international students at Haas through a variety of loan programs. Most loan programs from U.S. financial institutions do require that international students apply with a credit-worthy U.S. citizen or permanent resident co-signer. For additional information on the three of the co-signed loan programs, including application instructions, please refer to our International Student with Co-signer Comparison Chart.

 

In addition to the co-signed loans, Haas is pleased to announce the availability of three programs which are available without the use of a U.S. Citizen or permanent resident as a co-signer. Please note that while a U.S. Citizen or permanent resident co-signer is not required for these loans, using a co-signer could, in most instances, secure you better terms on the loan. Information about the loan programs, as well as a comparison of the three non-cosigned loans, is available in our International Student with No Co-signer Comparison Chart.


While there may be other loan programs available that do not appear on the comparison chart, these are the only three loan programs that we are aware of that do not require a co-signer for international students at Haas. Although these loans might have high interest rates, they do provide a source of funding to our international student population. Due to the high interest cost, though, it is strongly recommended that international students exhaust all other sources of funding prior to utilizing a private loan.


The Haas School is aware that other schools might have loans available with lower interest rates; we cannot speak to their programs, only the ones that we have been able to secure.


The Haas School's Office of Financial Aid does not receive, and will not accept, inducements from lenders in exchange for inclusion in the private loan comparison chart; 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

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