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Student Loans/Employment

University of California Code of Conduct in Regard to Preferred Lender Arrangements

University Of California Code of Conduct

University of California Loan Policy

Loans

Loans provide students with the opportunity to defer the cost of educational expenses by borrowing now and paying later. In addition to the Federal Direct Stafford Loan and the Federal Direct Graduate Plus Loan the business school offers private educational loans. We encourage you to borrow only what you need. Students who apply for the Federal Direct Stafford Loan may borrow up to $20,500 per academic year. The Federal Direct Graduate Plus and private loans are available to bridge the cost that the Federal Direct Stafford Loan does not cover. The interest rate for the private loan is based on the borrower’s credit score. Students should exhaust Federal student loan eligibility before considering private loans.

  • Federal Direct Stafford Loan and Federal Direct Graduate Plus Loan Program https://studentloans.gov

Federal Direct Stafford Loan Program

  • The Federal Direct Stafford Loan is available to eligible U.S. Citizens and eligible non- citizens. The FAFSA application must be filed in order to receive the Federal Direct Stafford Loan. The Stafford Loan program allows you to borrow $20,500 per academic school year. The interest rate for the 2012-13 school year is fixed at 6.8%. Repayment starts 6 months after you complete your MBA degree or drop below half-time enrollment. Students must be enrolled in a minimum of 6 units each term to receive federal student loans. Interest on the Federal Direct Stafford Loan starts at the time of disbursement. Students may elect to defer the interest while they are in school.
  • Special Note: Your Stafford loan funds will not be disbursed until you have submitted:

    • Promissory Loan Note
    • Complete the on-line “Entrance Interview”

Once you have received your “Financial Aid Award Notification”, please go to the financial aid website at “Log on to My Aid” and follow the instructions

You can determine your projected loan payments by visiting the Direct Loan Calculators. This website also describes the various repayment options available.

The amount of interest that accrues on your loan from month to month is determined using what is called the Simple Daily interest formula. This method is a simple formula that multiplies you loan balance by the number of days since the last payment, times the Interest Rate Factor. The Interest Rate Factor is determined by dividing your interest rate by the number of days in a year (365.25).

Federal Direct Graduate Plus Loan Program

The Federal Direct Graduate Plus Loan is available to eligible graduate and professional students who are U.S. Citizens and eligible non-citizens. The FAFSA application must be filed in order to receive the Federal Direct Graduate Plus Loan. The Federal Direct Graduate Plus Loan program allows you to borrow up to the cost of attendance, less any other financial aid received. This loan may be borrowed in lieu of a private loan.

  • Fixed interest rate of 7.9% for the life of the loan
  • Minimal credit check – no adverse credit
  • Must be enrolled at least half time with a minimum of 6 units each term
  • May defer payment while in school
  • Although repayment normally begins 60 days after the final disbursement, students may request a deferment or forbearance through the Federal Direct Lending Program if their situation warrants.

Please contact our office if you are interested in the Federal Direct Graduate Plus Loan Program.

Federal Student Loan interest rates may be viewed at: www.ofas.uci.edu/DLInterest

Private Educational Loan Programs

The Paul Merage School of Business offers several private loan options for both our domestic and international MBA student. All are credit based, have variable interest rates, and are not based on financial need. The approved interest rate for a private loan is based on the borrower’s FICO score. The University has developed a system-wide common lender list based solely on factors related to the borrower’s best interest: financial terms of the loan, loan features and the quality of service. Please view our “Private Lender Loan Lists” below for further information.

Graduate Business Student List When inputting your search criteria please select the "Graduate Business" Program Type, however if you are an international student please select "International."

Global Student Loan   In accordance with the lender’s criteria this loan is available only to students from India.

**International Students: Please reference the International Students tab to the left of the page.

Repayment of Loans

Repayment of Federal and Private Educational Loans may be deferred until six months after graduation. Students will contacted by their loan servicer after graduation regarding payment plans.

Teaching Assistantships

Teaching assistantships within the School of Business are generally reserved for our PHD students and are available to our second year full time MBA students only. Opportunities in assistantships for our first year full time MBA students may exist in other departments on campus depending on your area of expertise. Students interested in a TA should check with the respective departments. International students wishing to serve as a teaching assistant must either pass the Test of Spoken English with a minimum score of 50 or otherwise demonstrate their oral English proficiency. Test of Spoken English (TSE)

To apply for a Teaching Assistantship outside of the School of Business during your first year of study, simply click on the following link for individual departments/colleges and to contact individuals http://www.ap.uci.edu/ase/proj2012-13.html.

The following quarterly estimated benefits will apply for the 2012-13 academic school year:
Payment of the Graduate Student Health Insurance Program (GSHIP) mandated fee of $696, 100% of the Student Services Fee $324, and 100% of the Tuition Fee $3,740. The total remission will be $4,760 for both California residents and non-residents for the 2012-13 academic school year. The above credits are the same for ALL TA positions between 25% (10 hours per week) thru 50% (20 hours per week). Also, TA's are paid monthly.

TA positions within the Business School are available to second year students only.
Applications will be given to all first year students during spring quarter. The forms must be completed and returned to the TA coordinator. The student must have a 3.5 GPA or better for their first year of study and can only TA in a class in which they received a “B+” or better. E-mail notifications of selected students will be sent during the summer.

*The State of California requires that you be told the following:
Federal student loans are available to most students regardless of income and provide a range of repayment options including income-based repayment plans and loans forgiveness benefits, which other education loans are not required to provide.
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