UCLA participates in the Direct Loan Program, in which all federal loans will only be lent by the federal government (Department of Education).
Federal Stafford Loan
- Student must file a separate Federal Stafford loan Master Promissory Note (MPN) on http://studentloans.gov after submitting the Electronic Financial Aid Notification (eFAN)
- With a Federal Stafford loan you may receive up to $20,500 per academic school year
- Interest rate is 6.8%
- 1% origination fee
- 6 month grace period after graduation, 10 year payback on disbursed loans
- No credit check
- Must be a U.S. Citizen or Permanent Resident and meet FAFSA criteria
- Federal Stafford loan is disbursed in equal installments in Fall, Winter and Spring quarters
In addition to the Federal Stafford loan, students may elect to borrow a Federal Graduate PLUS loan.
Federal Graduate PLUS Loan
- Student must file a separate Federal Graduate PLUS Loan Master Promissory Note (MPN) on http://studentloans.gov after submitting the Electronic Financial Aid Notification (eFAN)
- Up and above the $20, 500 borrowed with a Federal Stafford loan
- You must apply for a Federal Stafford loan first before being considered for a Federal Graduate PLUS loan.
- No grace period, 10 year payback
- Interest rate is 7.9%
- 4% origination fee
- *Credit Check Required*
- Must be a U.S. Citizen or Permanent Resident and meet FAFSA criteria
- Federal Graduate PLUS loan is disbursed in equal installments in Fall, Winter and Spring quarters
Private Student Loans
- For admitted students on H1-B work visas who are not US citizens and not permanent residents, Anderson has partnered with Eli Lilly Federal Credit Union to offer an International Graduate Student Loan. For details, visit the website here: http://www.uclaanderson.studentchoice.org/.
