Financial Aid

Federal financial aid, in the form of loans, is available for MBA students who are either US citizens or US permanent residents. To apply, file the Free Application for Federal Student Aid (FAFSA) at http://www.fafsa.ed.gov/. You can complete the FAFSA any time after January 1st, and we encourage you to file it prior to being admitted to Haas to help eliminate any processing delays. The UC Berkeley federal school code is 001312.

*** Priority Deadline : UC Berkeley's priority-processing deadline is March 2, 2007. If you are an entering student, do not wait until you have been admitted to file your FAFSA. Whether you are an entering or continuing student, filing your FAFSA early allows enough processing time for disbursement of funds at the beginning of fall semester. You may still apply for Direct Loans even if you miss the deadline. (Although funding is always available for the Direct Loans, your must meet the eligibility requirements as stated on the FAFSA).

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. Begininng with the 2007-08 academic year, up to $20,500 may be borrowed annually through a combination of subsidized and unsubsidized loan funds. The Direct Loan has a fixed interest rate of 6.8%. Refer to http://www.haas.berkeley.edu/MBA/finaid/ for details.

Students wanting to borrow more than $20,500 can also utilize the supplemental loan programs. These are credit-based loan programs available through either the federal government (with a fixed interest rate), or through private lenders (with variable interest rates). For a comparison, consult http://www.haas.berkeley.edu/MBA/finaid/prvtmba.htm.

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Scholarships

In 2006-2007, the Haas School awarded over $1.645 million in scholarships to domestic and international students. At the time of admission review, all applicants are routinely considered for Haas Merit Scholarships, and awards are based on exceptional merit and career potential as demonstrated in the application. The awards can cover up to full tuition and registration fees for both years of full-time study. No separate application form or special request is needed. Applicants awarded a Haas Merit Scholarship are notified in writing with the admission letter.

The Berkeley MBA program also offers Haas Achievement Awards, which are given to individuals who have achieved tremendous success in spite of significant economic, educational, health-related, or other obstacles. As with the merit scholarships, these are awarded at the time of admission and cover up to full tuition and fees for both years of full-time study. Please note, however, that applicants for Haas Achievement Awards must answer an optional essay question on the admission pplication.

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Outside Scholarships

The Scholarship Opportunities database provides information about scholarships offered by external organizations and internal resources for which Berkeley MBA students are eligible. The information is searchable by category, text and application deadline. Please click here to be taken to the scholarship database.

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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 30% of the second-year full-time MBA students served as GSIs in 2005-06. You should apply for these positions in the spring of your first year. You may also find employment as a reader or tutor if you have significant training in a specialized area. Refer to http://groups.haas.berkeley.edu/gsi/ for more information.

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LRAP

The Haas Loan Repayment Assistance Program (LRAP) is designed to provide modest financial support to recent graduates of the MBA Program who are employed in the public or nonprofit sectors (where salaries are typically lower). The program assists qualified Haas graduates who might otherwise feel constrained in their choice of employment by the need to repay substantial debt accumulated during their MBA studies. Further details and application forms are available at http://www.haas.berkeley.edu/MBA/finaid/LRAP.htm.