Berkeley Loan

The Berkeley Loan is available to eligible undergraduate students enrolled in at least six units, are California residents, and demonstrate financial need based on the Financial Aid Application, Free Application for Federal Student Aid (FAFSA) or California Dream Act Application (CADAA).

Students who meet all other financial aid eligibility requirements will be awarded this low-interest subsidized Berkeley Loan.

Loan Process
- The Berkeley Loan will be included as part of your academic year financial aid package if you are eligible.
- If you wish to borrow the loan, you can begin by accepting the loan under the My Finances tab in CalCentral.
- After you accept the loan, you will receive an email from Heartland ECSI (the loan servicer) with instructions on completing the loan requirements beginning August 1st.
- The Heartland ECSI email will include a PIN for logging into Electronic Promissory Notes. You will use the PIN, along with your social security number (for FAFSA filers) or your California Student Aid Commission (CSAC) Id (for CADAA filers), to complete the following loan requirements:
  - Loan Entrance Counseling
  - Promissory Note
- If you can’t locate your PIN information, please contact ECSI. You may need to provide ECSI with your social security number or CSAC Id, legal name, address, and date of birth.
- To receive a disbursement from the Berkeley Loan prior to the end of the Fall or Spring terms, please complete loan requirements by the following deadlines:
  - Attending Fall-only: November 30
  - Attending Fall/Spring or Spring-Only: April 30
- Berkeley Loan processing will be on hold between December 15 and January 2. If you accept the loan during this period, you may only be able to begin the online process after January 2. Loan requirements completed after November 30 may result in refunds issued in January.
Loan Disbursement
- After the student completes Berkeley Loan requirements and the mandatory three-business day rescission period is over, UC Berkeley will receive an electronic confirmation from Heartland ECSI.
- The loan requirements task in CalCentral will be complete once UC Berkeley receives confirmation from ECSI, and your loan will be disbursed to your student account.
- You will receive a refund if your loan disbursement exceeds your outstanding charges on your billing account.
- Sign Up for Direct Deposit if you want your refund deposited directly into your bank account.
- Please open a case with Cal Student Central if you have questions about the Berkeley Loan.
Summer Berkeley Loan
- The Summer Berkeley loan is a subsidized loan offered to California Dream Act Applicants in the summer term.
- The loan is available to students enrolled in six or more units that qualify for AB 540 nonresident tuition exemption and meet Summer Aid eligibility requirements, including SAP.
- Students must be enrolled in six or more units to qualify for financial aid. Private loans may be available to students enrolled less than half-time. Check with lenders regarding the enrollment requirement for their loan products.
- You can qualify for a maximum of $6,000 in the combined academic year California Dream Loan and the Summer Berkeley Loan.
- For example, if you utilized $3,500 in the California Dream Loan during the academic year. You will qualify for a maximum of $2,500 in the Summer Berkeley Loan, limited by need.
- If you want to be considered for financial aid in Summer 2024, please complete the 2023-24 California Dream Act Application (CADAA).
- Non-U.S. citizens eligible for in-state tuition under AB 540 may also complete the 2023-24 California Dream Act Application at https://dream.csac.ca.gov.
- Please open a case with Cal Student Central if you have questions about your Summer Berkeley Loan.
Repayment Terms
- Interest accrual and repayment of the Berkeley Loan begins nine months after you leave school or any time you drop below half-time enrollment.
- Interest will accrue from the beginning of the repayment period, and periods of authorized deferment are not included in the repayment period.
- Interest is fixed at 5%. The standard repayment period is ten years.
- You can make payments on your Berkeley Loan to the loan servicer Heartland ECSI.
- If you leave school, graduate, or enroll less than half-time, you will be asked to complete Exit Counseling with Heartland ECSI.
- Be sure to keep your contact information up-to-date with UC Berkeley and Heartland ECSI to receive essential information regarding repayment.
- You can repay your loan without penalty at any time. The faster you pay your loan, the less interest you pay over time.
- You will begin to receive information regarding repayment toward the end of your nine-month grace period.
- If you have not received repayment information, don't hesitate to contact Heartland ECSI or open a case with Cal Student Central.
Contact - Financial Aid and Scholarships
- Cal Student Central is your destination for key university business related to financial aid, fees and billing, payments, disbursements, registration, and enrollment.
- Questions regarding the offered Berkeley Loan not previously addressed, we encourage you to open a case with Cal Student Central.