- The Berkeley MBA Advantage

Costs and Financial Aid

The Berkeley MBA program has one of the most reasonable tuition and fee structures of any top MBA program. Almost 70 percent of Haas students receive some form of financial assistance, including scholarships and loans.

Educational Costs

Each year the Financial Aid Office estimates the average costs for a graduate student during the nine-month academic year, which include tuition, required fees, and estimates for living expenses, books, and supplies. These estimates are the basis for determining financial aid eligibility and supplemental loan borrowing limits. Because the living expense estimates are averages for all UC Berkeley graduate students, actual costs—especially housing—may be higher.

Computer Costs

All MBA students are required to have a laptop computer. Student discounts for laptop and software bundles are available at the Scholars Workstation.

California Residency

In many cases, US citizens or permanent residents may qualify for California residency by their second year of graduate school. We strongly recommend that students pursue this, as it can significantly reduce their student fees (by an estimated $9,200 in 2009-10).

Financial Aid

Federal financial aid, in the form of loans, is available for MBA students who are either US citizens or permanent residents. To apply, file the Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov any time after January 1. You should apply for aid before you are admitted to Haas!

Scholarships

In 2009-2010, the Haas School awarded over $3.6 million in scholarships to domestic and international students. Listed below are some of the most significant scholarship awards available for full-time MBA students. See a complete list of Haas scholarship opportunities.

Haas Merit Scholarships are awarded for either half or full tuition for both years of study in the fulltime program. They are awarded by the Admissions Committee, and no additional application is required.

Haas Achievement Awards are also awarded for either half or full tuition for both years of study, and recognize individuals who have achieved success in spite of significant economic, educational, health-related, or other challenges. Achievement Awards require submission of a separate application after admission to the program.

CJ White Grants provide full and half tuition awards for incoming students who are pursuing careers in financial services, with a preference for investment banking. They are awarded by the Admissions Committee, and no additional application in required.

Student Loans

Most MBA students finance a portion of their education through the Federal Direct Loan Program, a federally funded, non-credit-based loan program. Up to $20,500 may be borrowed annually through a combination of subsidized and unsubsidized loan funds. The Direct Loan is a fixed-rate loan, with an interest rate of 6.8 percent. Students wanting to borrow more than $20,500 can also utilize one of the supplemental credit-based loan programs. The Federal Direct Loan Program is only open to US citizens and permanent residents.

Instructorships

Many graduate student instructorships are available to second-year students in several fields. Graduate Student Instructors (GSIs) receive reduced tuition as well as a monthly stipend. Approximately 28 percent of the second-year full-time MBA students served as GSIs in 2008-09. You should apply for these positions in the spring of your first year of studies.

LRAP

The Haas School is pleased to be one of the few top business schools to offer a loan repayment assistance program (LRAP).The LRAP is designed to provide financial support to recent graduates of the MBA program who are employed in the public or nonprofit sectors (where salaries are typically lower). Students working in nonprofit or government positions and earning $80,000 per year or less can apply to be reimbursed for student loan payments for a maximum period of ten years.

Financial Assistance for International Students

International students are eligible for all Haas administered scholarships and Haas Achievement Awards. Please note, however, that only a limited number of students are chosen for these. Most international students will be responsible for paying the entire cost of attendance for both years of study, and should plan carefully to ensure adequate financial resources.

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