MBA Finances
Supplemental Loan Options for Haas MBA Students
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.
Students are welcome to choose any lender, regardless of whether the lender appears on the preferred private loan comparison chart.
Additional Incentive from Chase!
In communication with Chase we have received some additional incentives that Chase is offering Haas students. The interest rate margins for you are lower than the standard tiers posted on the comparison chart. The interest rate with a co-signer will be as low as the 3-month LIBOR + 3.95% up to the 3-month LIBOR + 7.0%. The interest rate without a co-signer will be the 3-month LIBOR + 6.30%.
Important Notes:
- Students need to be enrolled at least half-time (6 units) each semester that you wish to receive loans.
- Our school code, if requested during your loan application, is 001312-75, UC Berkeley Graduate Business School.
- Loans are disbursed in two payments, 50% each semester.
The Haas School's Office of Financial Aid 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.
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) http://eftstudent.berkeley.edu
U.S. Citizen & Permanent Resident Options:
Students who are U.S. Citizens or Permanent Residents can borrow up to $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.
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. Ultimately, it is the student's choice. 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. For information on the Grad PLUS Loan, please refer back to the Federal Loan section of this website.
International Student Options:
Effective October 2, 2008, the only loan programs from U.S. financial institutions available to International students almost exclusively require the
student to apply with a credit-worthy U.S. Citizen or Permanent Resident co-signer at most institutions.
