Private Education Loan Programs

Basics

• Federal loan programs for undergraduates or graduate students may provide you with better terms and conditions.

• Before you borrow, read Federal Versus Private Education Loans and review our Federal Direct Loan and Private Education Loan Comparison (PDF).

• Before you borrow, pursue other types of financial aid, including outside agency scholarships.

• Remember that borrowing money is a serious responsibility: You must repay loans with interest.

• You don't need to file a FAFSA to obtain loans from private lenders.

• Read more about loans.

• Private Education Loan lenders vary in their interest rates, terms, and eligibility requirements. The University of California, Office of the President, has compiled a list of Private Education Loan Lenders, yet you may choose any lender. International students please refer to the Private Education Loan Preferred Lender List for International students and visit the International Students & Programs Office.

Find private loans for both undergraduate & graduate/ professional students

Note: For most students Summer financial aid  is considered part of the upcoming academic school year (e.g. Summer 2024 is part of the 2024-25 academic year) except for a few self-supporting graduate/professional programs.

Disbursement requirements

Be sure to complete the required Private Education Loan Applicant Self-Certification and submit it to the lender (read the directions that are included on the form PDF). This form is completed as part of the lender's application process. There is no need to complete multiple forms.

The self-certification form is required for disbursement of your loan funds. Contact your lender about additional requirements that may be needed.

Once your funds are received, they will be credited to your UC San Diego student account provided you have met all the lender requirements, such as enrolled number of units. Additionally, in order to receive your funds, you must not have any university payment holds.

Right to cancel

Be aware that all Private Education Loan Lenders are required by law to give borrowers a minimum 3-day "Right to Cancel" period before they can disburse money to the school. This "Right to Cancel" period will begin after the lender receives the private loan certification from the school and all other required documents have been submitted to the lender by the borrower. Please contact your lender directly to find out the exact date your funds will be released to the school.

Note: These are the anticipated dates your money will post to your UC San Diego Student Accounts providing all requirements are met. Your actual disbursement date will depend on you completing all the requirements for the lender and that lender's Right to Cancel. Student Financial Solutions (SFS) will begin sending refunds of excess money to you or your bank at the beginning of each quarter or in the case of summer, the beginning of each Summer Session period. Learn more: Financial Aid: How Do I Get My Money?

Loan Period and Disbursement Dates

Summer Loan Period and Disbursement Dates

Academic Year Loan Period and Disbursement Dates

We will begin certifying private education loans for Summer 2025 in mid-May. We will begin certifying private education loans for the 2025-2026 academic year toward the end of July. The loan period dates for Summer 2025 and the 2024-2025 academic year are listed above. The loan period dates for the 2025-2026 academic year are now listed above.

• Students may apply directly with any lender who provides educational loans. The University of California has prepared a UC lender list for private loans to assist you.

• Carefully review the benefits and repayment terms before you select a lender. See our Federal Direct Loan vs Private Education Loan Comparison to see a comprehensive list of criteria.

• Follow the instructions provided by your selected lender, who will notify you of your loan application status and any approved amount.

  • You must sign a promissory note (a document that confirms your agreement to repay the loan), and sign the Application, Approval, and Final Disclosures.

  • You must complete a Private Education Loan Applicant Self-Certification (see below). Lenders provide this document at the time you are applying for the loan. You do not need to complete the form multiple times.

  • Interest rates, fees, and payment terms will vary between lenders. Most lenders require payments to begin 6-9 months after graduation (or leaving school).

• Please note that federal student loans are available to most students regardless of income and provide a range of repayment options including income-based repayment plans and loan forgiveness benefits, which other education loans are not required to provide. See our Federal Direct Loan vs Private Education Loan Comparison to see a comprehensive list of criteria.