Private Alternative Loan


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.

International students, please refer to the Private Loan Preferred Lender list for International students, and visit the Berkeley International Office.

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.