There are two types of loans available to MFE students: federal and private loans.
Please note that the total loan cannot exceed the cost of attendance.
Below are the loan options available for U.S. citizens and Permanent Residents.
Federal Direct Loan (Unsubsidized)
- Limit of $20,500 a year
- 5.28% fixed interest rate (2021-22) with 1.057% origination fee (will change in Oct.)
- Repayment begins after student graduates or drops below half-time enrollment (4 units)
- Flexible repayment: income based, loan forgiveness
Federal Direct Grad PLUS Loan
- May borrow up to cost of education minus other forms of financial aid
- 6.28% fixed interest rate (2021-22) with 4.228% origination fee (will change in Oct.)
- Requires a credit check
- Repayment begins six months after graduation or drops below half-time enrollment (4 units)
- Flexible repayment: income based, loan forgiveness
The FAFSA application is required for federal loans. Please use school code 001315. First-time borrowers will also need to complete a debt management session/entrance counseling and a Master Promissory Note (MPN) for each federal loan.
Many private loans are available to U.S. citizens, permanent residents and international students with a U.S. cosigner. Here's a list of private lenders used by Anderson students. Please refer to the private loan guide to obtain more information. You can also refer to the UCOP's preferred private lender list.
- Fixed and variable interest rates
- Eligibility depends on borrower’s credit and income-to-debt ratio (better to apply when still employed)
- Having a cosigner with a good credit score can lower the interest rate
- Repayment typically begins six months after student graduates or drops below half-time enrollment (4 units)
There are three lenders available for international students without U.S. cosigners. Please be advised that international students may only borrow up to mandatory program charges and health insurance. All international private student loans are made by the specific lending institution and not the University.
Please be advised, to be eligible for the Discover Custom Graduate Loan, you must be residing in the United States during your program studies. Aggregate loan limits apply.
Discover® Custom Graduate Loan
- Zero fees
Prodigy Finance
- No cosigner required
- May borrow up to 80% of cost of attendance (as approved by the university)
Quorum
- May borrow up to annual program charges and health insurance
- Zero fees
- Can submit one application for entire program*
*Submit one application for Quorum for the entire program to establish a line of credit. For your second year (Fall 2021), as a returning borrower, you can request to draw down the amount you would like to apply for.
| Fall 2021* | Winter 2022 | Spring 2022 | Fall 2022 | Total | |
| Program Charges | $20,304.00 | $20,304.00 | $20,304.00 | $20,304.00 | $81,216.00 |
| Health Insurance | $1,573.37 | $1,573.37 | $1,573.37 | $1,573.37** | $6,293.48 |
| UCLA Student Fees | $691.73 | $611.73 | $611.73 | TBD*** | $1,915.19 |
| Total | $22,569.10 | $22,489.10 | $22,489.10 | $21,877.37 | $89,424.67 |
*Non-refundable $2000 enrollment deposit due after receiving official admissions letter from Graduate Division - Deposit is applied to first quarter student fees
**PLEASE NOTE: Fall 2022 Health Insurance costs subject to change
***PLEASE NOTE: Fall 2022 UCLA Student Fees subject to change
(Chart does not include living expenses or cost of course textbooks and readers, travel during program, laptop computer meeting Anderson’s required specifications, and other incidentals)