Financial Aid

Executive MBA students are enrolled in Fall, Winter and Spring quarters. Student charges are due at the beginning of each quarter. Financial aid disbursements are applied electronically to your UCLA BruinBill student billing account 10 days prior to the start of the quarter. You must be enrolled in classes and posting credits to receive a financial aid award. Students who fall below the quarter's required posting units will be billed and required immediately to pay back any ineligible student loan funding. We welcome your questions; please contact the Financial Aid Office.

UCLA Anderson EMBA Financial Aid
 

Bruin Direct Deposit

All EMBA students are required to enroll in BruinDirect, the direct and secure way to receive your BruinBill student account refund. BruinDirect processes the refund, transferring it from your BruinBill account and electronically depositing it into your personal checking account. A refund is generated in your BruinBill account when you receive funding such as scholarships, grants, fellowships, stipends, loans or any non-payroll payments that exceed the fees and charges due.

FAFSA

 
 

Free Application for Federal Student Aid (FAFSA)

The Free Application for Federal Student Aid (FAFSA) for a given academic year may be completed beginning January 1.

You must fill out the FAFSA in order to participate in the federal student loan program, which includes the Federal Direct Unsubsidized Loan and the Federal Direct PLUS Loan for graduate and professional degrees. The federal government (U.S. Department of Education) will be your lender (if you are an international student, you will need to pursue a private loan).

Here's how to apply:

  • Fill out the FAFSA at www.fafsa.ed.gov (the UCLA School Code is #001315)
  • It is highly recommended that you fill out the FAFSA as soon as you can after January 1 to ensure that you do not miss out on available aid
  • The FAFSA asks for your tax return information for the current year; you may use estimates derived from the previous year's tax returns, but you will later be required to correct any discrepancies 
  • You must be a U.S. citizen or permanent resident to receive federal financial aid
  • Application information questions: (800) 433-3243

Once you complete your FAFSA, you will receive your Student Aid Report (SAR). Please be sure to read your SAR because you may be required to submit additional documents for verification. If you have a Selective Service flag on your SAR, please contact the Selective Service office by visiting their website at www.sss.gov and by consulting this guide. You will need to request an Exemption Letter, which may take up to 4 months to process. If you have a request for the Selective Service documentation, you will not be able to move forward with the financial aid process until you receive your Exemption Letter from the Selective Service Office.

What is eFAN?

 
 

UCLA Electronic Financial Aid Notification (eFAN)

The UCLA Electronic Financial Aid Notification (eFAN) is the official notice of your financial aid eligibility for the academic year. To be eligible to borrow federal loans, you must be either a U.S. citizen or permanent resident. You will not receive an eFAN unless you have been admitted to the program, have filled out the FAFSA, and have addressed any requests for additional documents. To retrieve your eFAN at UCLA:

  1. Go to financialaid.ucla.edu
  2. Select MyUCLA
  3. Log In
  4. Accept, decline or adjust your Federal Direct Unsubsidized and/or Federal Direct PLUS student loan offer(s)
  5. Under "Self-Reported Awards," please indicate any company sponsorship or reimbursement for the academic school year
  6. Hit "Submit"
  7. Go to studentloans.gov to electronically sign the MPNs (Master Promissory Notes) for the Federal Direct Unsubsidized and Direct PLUS loans
  8. If you require additional information about Federal Direct Unsubsidized and/or Federal Graduate PLUS loans, consult the Forms and Publications section of financialaid.ucla.edu

Questions? If you have any questions, please contact Andy Promsiri in the Financial Aid Office.

Student Loans

 

UCLA participates in the Direct Loan Program, in which all federal loans will only be lent by the federal government (U.S. Department of Education).

Federal Unsubsidized Loan
  1. Students must file a separate Federal Direct Unsubsidized Loan Master Promissory Note (MPN) at studentloans.gov after submitting the Electronic Financial Aid Notification (eFAN)
  2. With a Federal Direct Unsubsidized Loan you may receive up to $20,500 per academic school year
  3. Interest rate is 5.84% (effective July 1, 2015)
  4. An origination fee of 1.073% applies
  5. 6-month grace period after graduation, 10-year payback on disbursed loans
  6. No credit check
  7. Must be a U.S. citizen or permanent resident and meet all FAFSA criteria
  8. Federal Direct Unsubsidized Loan is disbursed in equal installments in Fall, Winter and Spring quarters

In addition to the Federal Direct Unsubsidized Loan, students may elect to borrow a Federal Direct PLUS loan for graduate and professional degrees.

Federal Direct PLUS Loan
  1. Students must file a separate Federal Direct PLUS Loan Master Promissory Note (MPN) at studentloans.gov after submitting the Electronic Financial Aid Notification (eFAN)
  2. You must apply for a Federal Stafford Loan before you can be considered for a Federal Direct PLUS Loan.
  3. The maximum Direct PLUS Loan amount is the cost of attendance, minus any other financial assistance received.
  4. No grace period, 10 year payback
  5. Interest rate is 6.84% (effective July 1, 2015; interest is fixed for the life of the loan)
  6. A 4.292% origination fee applies
  7. *Credit check required*
  8. Borrowers must be U.S. citizens or permanent residents and meet all FAFSA criteria
  9. Federal Direct PLUS loans are disbursed in equal installments in Fall, Winter and Spring quarters
Discover Custom Graduate Loan

Discover has designed a private student loan for business students enrolled in the UCLA Anderson Executive MBA program who are unable to qualify for a standard Discover Student Loan or Federal Loan. Learn more about Discover Custom Graduate Loans.

Elements Financial
  1. For admitted students on H1-B work visas who are not U.S. citizens and not permanent residents, Anderson has partnered with Elements Financial Federal Credit Union to offer an International Graduate Student Loan. For details, visit  www.uclaanderson.studentchoice.org.
Federal vs. Private Loans
  • Federal student loans are required by law to provide a range of flexible repayment options including, but not limited to, income-based and income-contingent repayment plans, as well as some types of loan forgiveness that private lenders are not required to provide.
  • Federal direct loans are available to most student regardless of income. Other qualification criteria apply; for additional information please visit studentaid.ed.gov/eligibilty.
  • Private student loan lenders can offer variable interest rates that may increase or decrease over time, depending on market conditions.
  • The interest rate on a private loan may depend on the borrower's and/or co-signer's credit rating.
  • Private student loans carry a range of interest rates and fees, and students should determine fees assciated with their financial aid award package before accepting the loan. Students should contact the lender of the private loan or the UCLA Anderson EMBA Financial Aid Office if they have questions about a private student loan.

Credit Check

 
 

Your credit history is important.

If you are borrowing a Federal Direct PLUS Loan for graduate and professional degrees, your credit will be checked before your loan is approved. Before applying for any loan, borrowers are urged to examine their credit report. Negative items in your credit history can result in your being denied a Federal Direct PLUS Loan. You may request a free copy of your credit report online at www.annualcreditreport.com once every 12 months from each credit reporting company.

Contact the Financial Aid Office

 

Andy Promsiri, Assistant Director of Financial Aid

Anderson Financial Aid Office
UCLA Anderson School of Management
B201 Gold Hall
110 Westwood Plaza
Los Angeles, CA 90095
Phone: (310) 825-0629
FAX: (310) 825-8582