Executive MBA Financial Aid

Federal Loans

The University of California, Berkeley participates in the William D. Ford Federal Loan Program, which allows students enrolled at least half-time (6 units) to borrow money directly from the federal government at a fixed interest rate.

Federal Direct Unsubsidized Student Loans are non-need based loans. The annual limit is $20,500 per academic year. All students who meet general eligibility requirements may qualify for Federal Direct Unsubsidized Loans. Interest accrues from the date of the first loan disbursement. The interest that accrues is not compounded or capitalized during periods of enrollment; the accrued interest is only capitalized just prior to entering repayment.

  • Fees: 1.073% fee taken at disbursement
  • Rate: 6.21% fixed interest rate

Federal Direct Grad PLUS Loans are non-need based loans. Grad PLUS Loans are credit-based loans which require a credit check. To be eligible for a Grad PLUS loan you must meet the other general eligibility requirements for the Federal Student Aid Programs, and must not have an adverse credit history (i.e. no more than 90 days late on any debt, no bankruptcies or tax liens within the past 5 years, and no defaults or adverse actions on any prior education debt). Students can borrow a Grad PLUS Loan up to the remaining total cost of education each year, minus any other expected financial aid.

  • Fees: 4.292% fee taken at disbursement
  • Rate: 7.21% fixed interest rate

How to Apply

First, obtain a Department of Education Personal Identification Number (PIN) to file your FAFSA. This PIN is also used to sign your Master Promissory Notes and access your loan accounts online. Keep the PIN, even after graduation. It will facilitate loan repayment and monitor your loan balance. Visit www.pin.ed.gov for more information.

To request federal loans, you must file a Free Application for Federal Student Aid (FAFSA). Our school code is 001312. The FAFSA must be filed each academic year that you wish to receive federal loans--you will not be offered a loan until the FAFSA for the applicable year has been filed. Although the FAFSA must be filed each year, the supplemental steps of Master Promissory Note (MPN) and Entrance Counseling only need to be completed once while at Haas.The loans must be paid back beginning six months after graduation or dropping below half-time attendance. The standard repayment term for the loans is 10 years.

Federal Loan Award Guide

Application Process for Federal Loans
  • File a Free Application for Federal Student Aid (FAFSA) at http://www.fafsa.ed.gov [annually]
  • If the UC Berkeley Financial Aid Office requests it, submit additional documentation [contact Haas Financial Aid]
  • Once you have a UC CalNet ID and passphrase and have received your Financial Award Notification, accept your awards on MyFinAid There is a drop-down on the Award Details screen to accept all or part of the loans. [annually]
  • Complete the Direct Loan Master Promissory Note (MPN) for Direct Loans [just the first year you borrow]
  • Complete the Graduate PLUS Master Promissory Note (MPN) if you also wish to borrow this loan [just the first year you borrow]
  • Complete the Federal Loan online Entrance Counseling [just the first year you borrow]
  • Sign up for Electronic Funds Transfer (EFT) to more quickly receive loan funds borrowed beyond billable costs at http://eftstudent.berkeley.edu [just the first year you borrow]


Federal Loan Eligibility

General Eligibility Requirements:
In order to be eligible for any of the federal loan programs, you must meet the following requirements:

  1. You must be a U.S. Citizen, U.S. Permanent Resident or eligible non-citizen
  2. You must have a valid Social Security Number
  3. You must be enrolled at least half-time for the semester (6 units)
  4. You must not be in default on a federal educational loan and not owe a refund on a federal grant
  5. You must maintain Satisfactory Academic Progress
  6. If male, you must be registered with the Selective Service or obtain a waiver from the Selective Service Office

A note about Satisfactory Academic Progress

To maintain eligibility for Federal Loans, you must maintain Satisf actory Academic Progress (SAP). All MBA students are expected to maintain a minimum cumulative grade-point average of 3.0 for continued participation in the program and graduation. If your GPA falls below the minimum, you will be placed on academic probation and may become ineligible for the undisbursed portion of any federal loan.