Private loans (also known as alternative loans) can help fill the gap between the cost of education and the amount of other financial aid offered. However, it is best to maximize all other resources first, including federal loans, which may have lower interest rates and better loan terms.
Federal student loans are available to most students regardless of income and provide various repayment options, including income-based repayment plans and loan forgiveness benefits, which other education loans are not required to provide.
Private lenders vary in their interest rates, terms, and eligibility requirements. The University of California Office of the President (UCOP) has compiled a list of private loan lenders, although you may choose any lender.
Not all private loan products can be used to cover a past-due balance (from a previous year or term). Please contact lenders to determine if their private loan products can be applied to cover a past-due balance.
Private Loan Eligibility
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Private loans are available to undergraduate and graduate students admitted to and enrolled in a degree-granting program at UC Berkeley.
Please check with lenders regarding the enrollment status for their loan products. Most lenders require at least half-time enrollment.
You may borrow up to your total cost of attendance for the academic year (based on your student budget) less any other aid you received. Your loan might be split between the Fall and Spring terms.
You may be required to meet citizenship requirements or provide a co-signer who meets permanent residency or citizenship requirements.
Private Loan Process
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Applying for a Private Loan
Look for a lender and apply for a private alternative loan directly with the lender.
We will hold private loan certification until you are enrolled in units for that term. For example, a private loan certification to cover the 2023-2024 academic year period will be on hold until the end of July 2023 (when enrollment information is available), regardless of when our office receives the certification request.
International students may request early certification of their private loans for visa requirements by opening a case on Cal Student Central.
Please use separate loan applications if you need loans to cover terms that span different academic years. Apply for a Fall-Spring loan, Fall-only loan, Spring-only loan, or Summer-only loan.
Certification of Private Loans
If your lender approves the loan application, they will send it to UC Berkeley for certification.
UC Berkeley will determine eligibility and then certify your loan.
We will be in touch if we need additional information from you.
Your lender will send the loan funds to UC Berkeley after the mandatory 10-business-day rescission period.
Disbursement of Private Loans
If you are enrolled in units without registration holds, your loan will be disbursed to your student account.
Your loan will pay any outstanding charges on your student account after your tuition and fees are fully paid for the term.
If loan funds remain after charges have been paid, you will receive a refund notification from Billing and Payment Services.
Please notify the Financial Aid and Scholarships Office by opening a case if you would like your Private Loan reduced or canceled.
Contact - Financial Aid and Scholarships
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Cal Student Central is the destination for student university business related to financial aid, fees and billing, disbursements, registration, and enrollment.
Please notify the Financial Aid and Scholarships Office by opening a case if you would like your Private Loan reduced or canceled.
The Financial Aid and Scholarships Office is responsible for returning private loan funds above the student's Cost of Attendance budget to the lender. The return of funds process can take 2-4 weeks to complete.