Preferred Lender List
As of April 2013, we have completed and compiled a comprehensive Preferred Lender List (PLL) with fixed rate options, variable rate options, and interest payment (while in school) options for the 2013-14 academic year. The selection process considered the needs of our students in the categories of pricing, service, and technology. Below is the list provided by the UC Office of the President.
- Students need to be enrolled at least half-time (6 units) each semester that you wish to receive loans.
- Our school code, if requested on your loan application, is 001312-75, UC Berkeley-Haas Business School.
- Loans are generally disbursed in two payments, 50% each semester.
- New laws will require borrowers to complete a self-certification form with information listed below before receiving loan funds. Your lender should provide this form to you during the application process. Attached is a sample of that form Private Education Loan Applicant Self-Certification
- The loan period dates: 8/22/2013-5/16/2014
- Financial Assistance includes any scholarships you have as well as any Federal Loans you have accepted on MyFinAid
- International students will need a US co-signer in most cases
Loan proceeds will credit your CARS account and pay any outstanding charges. If a balance remains, the refund will be sent to your personal bank account if you have signed up EFT (Electronic Funds Transfer).
Please visit our Loan Repayment Page for information on previous preferred lender lists and about your lenders from last year.
The Department of Education (ED) encourages all eligible students to consider Federal Loans first. Conversely, no matter what entity lends the funds, students should review the terms in detail. The Haas Financial Aid Office is available to provide further information in-person, by phone, via email and through alternate media such as podcasts and chats.
The Haas Financial Aid Office 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. For more details feel free to read The University of California Code of Conduct in Regard to Preferred Lender Arrangements. Within the Interim PLL is the required Truth-in-Lending Agreement (TILA) Disclosure for each lender.
You can choose to borrow from the list above or from another reputable lender.
Disclosures mandated by California law SB 1289
This information was adapted form the UCOP language developed for SB 1289. Students considering student loans need to be aware of the differences between federal student loans and private student loans. This information is communicated to all students attending Orientation:
- Federal student loans are required by law to provide a range of flexible repayment options including, but not limited to, income-based and income-contingent repayment plans, as well as loan forgiveness benefits that private lenders are not required to provide.
- Federal Direct Loans are available to most students regardless of income. Other qualification criteria do apply.
- Federal Direct Loans have fees taken before disbursement. The net amount disbursed will be less than what you will owe.
- Private student loan lenders can offer variable interest rates that can increase or decrease over time, depending on market conditions. Some now offer fixed rate options.
- Private student loan interest rates may depend on the borrower’s and/or co-signer’s credit rating. Rates on a Federal Loan cannot be adjusted based on the strength of the borrower’s and/or co-signer’s credit rating.
- Private student loans have a range of interest rates and fees and students should determine the interest rate and any fees before accepting the loan. Students should contact the lender the Haas Financial Aid Office with any questions about a private student loan.
Some UC campuses offer students their own private (institutional) student loans. Students offered a UC institutional private student loan should know that:
- Interest rates on UC loans will be fixed, not variable
- UC loans can have a range of interest rates
- UC loans are not awarded based on the credit history of the borrower
- UC loans do not require a co-signer.