MBA Finances
International Students
Private Educational Loans
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.
Effective October 2, 2008, the only loan programs from U.S. financial institutions available to International students at Haas almost exclusively require the student to apply with a credit-worthy U.S. citizen co-signer. For additional information on loan options, including application instructions, please refer to our Private Loan Comparison Chart. 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.
Berkeley Full-Time MBA Loan Program
In response to the changes in the marketplace and the resulting difficulty of international students to secure educational loans when needed, we have set aside funding to create a new Berkeley MBA Student Loan Program that will provide no-cosigner loans for US and international students in the Full-time MBA Program at Berkeley. Modeled on the Federal Direct Loan, the Berkeley MBA Loan Program will provide no-cosigner loans of up to $20,000 per year with an interest rate of 6.80% and repayment terms of up to ten years. No interest accrues while the recipient is in the program, and repayment begins six months after graduation. Though one of the intentions of the loan is to assist in paying tuition and fees, as with other educational loans, the funds may be used for other educational expenses.
Priority filing dates have passed, but you may submit an application for consideration. Please complete the attached application and return it to the Haas Financial Aid Office. Berkeley FT MBA Loan Application
A Note on Disbursements
Loans are always disbursed in two payments, 50% each semester, after you are enrolled for classes at least half-time. Loan proceeds will credit to your CARS account and pay any outstanding charges. If a balance remains, a refund will be sent to your bank account IF you have completed an EFT (Electronic Funds Transfer) Agreement, http://eftstudent.berkeley.edu
