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Important Updates

  • The priority filing date for the 2024-25 FAFSA and CADAA has been extended to May 2, 2024. Visit Apply for Financial Aid for details.
  • The Department of Education has announced they will send information from the 2024-25 FAFSA to schools in mid-March. This may result in a delay in financial aid packaging and offers for the 2024-25 academic year. While awaiting your financial aid offer, we encourage you to utilize the UC Davis Financial Aid Estimator to estimate your potential aid.

About Private Loans

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.

Private education loans are an option for financing your education and are provided to students or parents from a commercial, state-affiliated, or institutional lender used to pay for up to the annual cost of attendance, less any financial aid received. Private loans have varying interest rates, fees, and repayment options and usually require the applicant to be creditworthy or have a creditworthy co-signer. Repayment generally begins immediately.

Federal, state, and university policy recommends that student borrowers maximize federal loans before the private loan request is processed. Complete a Free Application for Federal Student Aid (FAFSA) or California Dream Act Application (CADAA) in order to determine student loan eligibility.

StudentAid.gov provides a federal and private loan comparison. Here are some things to consider: 

  • Private loan eligibility requirements vary from lender to lender
  • Private loan lenders can offer variable interest rates that can increase or decrease over time, depending on market conditions
  • Students may also be required to meet citizenship requirements or provide a co-signer who meets citizenship requirements
  • The interest rate on a private loan may depend on the borrower’s and/or co-signer’s credit rating
  • Other eligibility requirements may apply depending on the lender
  • Review the interest rate and processing fees prior to borrowing

UC Davis is not involved in the private loan credit decision. All credit decision questions should be directed to the loan lender. Financial aid eligibility applies to all certifications of loan amounts.

School Certification Process

Financial aid staff will receive a certification request. Certifications will be reviewed for the 2024-25 academic year starting July 2, 2024. If you are using your University or Federal loans to meet your estimated Cost of Attendance, take action before this date in order for your loans to be applied to your fall charges due on September 15, 2024.

  • Staff will approve or deny private loan certification. Maximum eligibility is determined as follows:
    • Cost of Attendance; estimated financial aid (offered and accepted) will equal private loan eligibility
    • Private loan estimate posted on MyAwards and split among all registered terms
    • Lender approval is subject to award minimum and maximum criteria
  • The lender sends funds to UC Davis Cashier & Payment Solutions Office
  • Student Accounting applies loan funds to MyBill after financial aid staff reduces the placeholder

Loan Periods for Private Loans

Summer 2024 

Loan period for Summer 2024
Aid Period Loan Period
Summer Session I  2024 only  06/01/24 - 08/02/24
Summer Session II 2024 only 08/01/24 - 09/13/24
Summer Sessions I and II 2024 - or - Special Session 2024 06/01/24 - 09/13/24
   


Academic Year 2024-25

Loan period for Academic Year 2024-25 
Aid Period Loan Period
Full Academic Year 2024-25 09/01/24 - 06/05/25
Fall 2024 only 09/01/24 - 12/13/24
Winter 2025 only 12/01/24 - 03/21/25
Spring 2025 only 03/01/25 - 06/05/25
Fall 2024 & Winter 2025 09/01/24 - 03/21/25
Fall 2024 & Spring 2025 09/01/24 - 06/05/25
Winter 2025 & Spring 2025 12/01/24 - 06/05/25

 

Private Lender List

To start your search, the UC Office of the President has put together a list of recommended lenders. Please be aware that you are not required to use any of the lenders on the list, they are simply provided for your convenience. Per the Higher Education Opportunity Act (HEOA) guidelines, our office adheres to the University of California Code of Conduct in regard to lender arrangements. If you have specific questions related to your credit history you should contact the private loan lenders at the numbers provided on the website listed below: