University of California Code of Conduct in Regard to Preferred Lender Arrangements
University Of California Code of Conduct
University of California Loan Policy
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 Program
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 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
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
*The State of California requires that you be told the following:
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.
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.