Private Education Loan Programs
Source: https://fas.ucsd.edu/types/loans/private-loan-programs.html Parent: https://fas.ucsd.edu/cost-of-attendance/graduate-students/index.html
Private Education Loans are issued by private lenders, such as banks, credit unions, and state-based or state-affiliated organizations. Unlike federal loans, private loans have terms and conditions that are set by the lender.
- Federal Direct loan programs for undergraduates or graduate/professional students may provide you with better terms and conditions, and can be accessed by completing a FAFSA.
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Private student loans are generally more expensive than federal student loans, but can provide additional funding to help meet educational costs.
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Borrowers do not need to submit a FAFSA in order to obtain loans from private lenders.
- Before you borrow, read Federal Versus Private Education Loans and review our Federal Direct Loan and Private Education Loan Comparison (PDF). It is important to understand the types of loans you are borrowing.
If you have questions, need assistance, or want to make changes to your Private Education Loan, please contact our office during business hours. You can also accept or decline your federal loans by logging into your MyTritonLink student portal.
Important Note: Review The University of California Code of Conduct in Regard to Preferred Lender Arrangements (PDF)
Disbursement Requirements
To receive private education loan funds, the borrower must submit the Private Education Loan Applicant Self-Certification form to the lender (read the directions included on the form PDF). This form is completed as part of the lender's application process. Do not submit the form to UC San Diego.
Be sure to contact the lender to inquire about any additional requirements that may be needed before your loan funds can be disbursed.
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 the number of units in which you are enrolled. Additionally, in order to receive your funds, you must not have any university payment holds.
Notes
- If you haven't already applied for federal and state financial aid, you're encouraged to do so by completing the FAFSA.
- You may wish to delay your private loan until you receive your financial aid offer because you could receive enough financial aid to replace the private loan you intend to borrow.
- Most students complete the Self-Certification Form as part of the lender's application process. Check with your lender if you are not sure if you already completed the form. It is not necessary to complete multiple forms.
Right to Cancel
Be aware that all private education loan lenders are required by law to provide borrowers with a minimum 3-day "Right to Cancel" period before disbursing funds to the school. This "Right to Cancel" period will begin after the lender receives the private loan certification from the school and the borrower has submitted all other required documents to the lender. 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 your 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. To learn more, visit Financial Aid: How Do I Get My Money?
Loan Period and Disbursement Dates
Summer Loan Period and Disbursement Dates
| Summer 2025 (3 month) Summer is considered part of the 2024-25 Academic year | Loan Period Begin Date | Loan Period End Date | Anticipated Disbursement Dates |
|---|---|---|---|
| Summer Session 1 only, use: 5 Weeks | 06/30/2025 | 08/02/2025 | 06/21/2025 |
| Summer Session 2 only, use: 5 Weeks | 08/04/2025 | 09/06/2025 | 07/26/2025 |
| Summer Session 1 and 2 only, use: 10 Weeks | 06/30/2025 | 09/06/2025 | 06/21/2025 and 07/26/2025 |
| Global Seminar only, use: | Global Seminars | Global Seminars | 06/21/2024 or 07/26/2024 based on Seminar |
| Special Session (Summer Session 3) only, use: | Varies by class | Varies by class | 2 days before class start |
| UC Education Abroad (UCEAP), use: | Varies by Program | Varies by Program | 2 days before class start |
| UC Washington, DC (UCDC), use: | 06/16/2025 | 08/22/2025 | 2 days before class start |
| UC Sacramento, CA (UCCS), use: | 06/16/2025 | 08/22/2025 | 2 days before class start |
| Opportunities Abroad Program (OAP), use: | Varies by Program | Varies by Program | 2 days before class start |
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.
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Follow the instructions provided by your selected lender, who will notify you of your loan application status and any approved amount.
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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.
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.