Private loans, also known as alternative loans, can help fill the gap between the total cost of attendance 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 Direct 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 Private Loan Preferred Lender list, although you may choose any lender.
Not all private loan products can cover a past-due balance from a prior year or term. Please get in touch with lenders to determine if their private loan product can be applied toward a past-due balance.
Key Considerations When Applying for Private Loans
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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.
Before applying for a private loan, review your financial aid for the academic year under the My Finances tab in CalCentral.
Review the different federal direct loan types offered and the interest rates to decide which loans to borrow.
You may borrow up to your total cost of attendance for the academic year, less any other financial aid you received.
Check with lenders regarding the enrollment requirement for their loan products. Most lenders require at least half-time enrollment.
You may be required to meet citizenship requirements or provide a co-signer who meets permanent residency or citizenship requirements.
When completing the private loan application, be sure to select the correct school and degree program (e.g., UC Berkeley Undergraduate or Graduate) to ensure the loan certification is sent to the appropriate office. If you are enrolling in UC Berkeley’s Extension Concurrent Enrollment program, you must select this program option on your private loan application, as the loan requires certification from their office: UC Berkeley Extension.
Please use separate loan applications for terms that span different academic years. Apply for loans with the following loan periods:
2025-2026 Academic Year Loan Periods
Fall 2025 - Spring 2026 loan (August 27, 2025, to May 15, 2026)
Fall 2025 loan (August 27, 2025, to December 19, 2025)
Spring 2026 loan (January 20, 2026, to May 15, 2026)
Summer 2026 loan (May 26, 2026, to August 14, 2026)
2024-2025 Academic Year Loan Periods
Fall 2024 - Spring 2025 loan (August 28, 2024, to May 16, 2025)
Fall 2024 loan (August 28, 2024, to December 20, 2024)
Spring 2025 loan (January 21, 2025, to May 16, 2025)
Summer 2025 loan (May 27, 2025, to August 15, 2025)
Certification and Disbursement
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Certification of Private Loans
If your lender approves the private loan application, they will send it to UC Berkeley for certification.
UC Berkeley will hold private loan certification requests until enrollment information is available to certify your loan. For example, a private loan certification request for the 2025-26 academic year will be held until July (when enrollment information is available), regardless of when our office receives the certification request.
International students may request early certification of their private loans by opening a case with Cal Student Central.
At the time of certification, UC Berkeley will review the eligibility requirements, verify your enrollment, and confirm that the loan amount and the other financial aid received do not exceed your cost of attendance for the academic year.
We will contact you if we need additional information.
Once your loan is certified, your lender will send the loan funds to UC Berkeley after the mandatory ten-business-day rescission period.
Disbursement of Private Loans
Your loan will be disbursed to your student account if you don't have any registration holds.
Student Billing will notify you of a refund if your loan disbursement exceeds your outstanding charges.
When students become eligible for federal/state/institutional/outside financial aid, their private loans may need to be reduced to be within the total cost of attendance for the academic year. In these cases, the financial aid and scholarships office is responsible for resolving over-awards on student packages and returning private loan funds to lenders. The return of private loan funds to lenders can take up to three weeks.
Please notify the Financial Aid and Scholarships Office by opening a case with Cal Student Central if you want changes made to your Private Loan.
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 with Cal Student Central if you want changes made to your Private Loan.