Loans

University Bar Study Loan Application Is Now Available

Students graduating in May 2015 may borrow a University Bar Study Loan for the amount of $4,200 from Berkeley Law. These loans are to cover bar exam costs and living expenses while preparing for the examination. The Bar Study Loan is not available to students who are blocked or have a university account that is past due.

The application is available for download from the Financial Aid Forms webpage.

INSTRUCTIONS

Please return all completed documents in person to the Berkeley Law Financial Aid Office at 396 Simon Hall no later than April 3, 2015.  The office hours are Monday—Friday from 9:00 AM—4:00 PM. Applications received by mail will not be processed! Please refer to the application for more instructional details.

LOAN REPAYMENT

Repayment of Bar Study Loan begins January 1, 2016 with the first payment due on February 1, 2016.

Payments are due on the first of each month until the loan is repaid in full. The interest rate is 8 % and the interest will be calculated beginning January 1, 2016. The borrower will have 30 months to repay the loan but there is no penalty for early repayment. Bar Study loans are no longer eligible for repayment assistance through Berkeley Law’s Loan Repayment Assistance Program and cannot be consolidated into the Federal Direct Loan program. ACS will be the servicer for this loan.

Remember: Each applicant is responsible for the accuracy and completeness of all submitted information.

Good luck on the bar exam!

Budget Appeal Forms Now Available for 2014-15

Budget Appeal Forms, including an addendum for state bar exam fees, are now available on our Forms page and should be submitted to the Berkeley Law Financial Aid Office.  Submit the completed forms via email to financial-aid@law.berkeley.edu or via fax to (510) 666-3577.

Boalt students whose financial aid budgets do not reflect their actual costs may submit a budget appeal to increase costs for additional loan eligibility.

Please allow at least two weeks for processing.  If the appeal requires review by the Graduate Appeals Committee, processing time will be longer.

EXPLANATIONS AND TIPS FOR YOUR APPEAL

Transportation:
 If you drive and you are requesting an additional transportation allowance, you must explain the necessity for using private rather than public transportation.

Housing:
 Your name must be on the lease/rental agreement and on all utility bills. If the housing documentation indicates occupancy by more than one person, the total housing cost will be divided by the number indicated.

Medical:
 If you are requesting additional aid to pay medical expenses incurred prior to the
beginning of the current academic year, you must provide a current statement indicating the amount still outstanding.

Computer Purchase: The computer must be purchased during the enrollment period for which you are requesting the budget adjustment. You may only request a budget adjustment for a computer purchase once every three academic years.

Inadequately documented expenses will not be considered.

The following expenses are not allowable for funding with need-based financial aid:

  • Credit card payments
  • Job interview expenses
  • Bar review expenses
  • Educational loan repayment
  • Purchase/maintenance of a motor vehicles
  • Additional allowance for food
  • Discretionary (optional) medical or dental procedures

Requests for add-ons which exceed the maximum allowance will be referred to the Graduate Appeals Committee.

Appeals are scanned into our imaging system. In order to avoid readability problems we request that you use black ink only; do not use finepoint pen, or highlighter.  Submit all documentation on white 8 ½” x 11″ paper.

Questions?  Send us an email at financial-aid@law.berkeley.edu.

Best of luck!

University Bar Study Loan Application Is Now Available

Students graduating in May 2014 may borrow a University Bar Study Loan for the amount of $4,200 from Berkeley Law. These loans are to cover bar exam costs and living expenses while preparing for the examination.  The Bar Study Loan is not available to students who are blocked or have a university account that is past due.

The application is available for download from the Financial Aid Forms webpage.

INSTRUCTIONS

Please return all completed documents in person to the Berkeley Law Financial Aid Office (2850 Telegraph Avenue, Suite 500, Berkeley, CA) no later than April 25, 2014.   The office hours are Monday—Friday from 9:00 AM—4:00 PM.  Applications received by mail will not be processed! Please refer to the application for more instructional details.

LOAN REPAYMENT

Repayment of Bar Study Loan begins January 1, 2015 with the first payment due on February 1, 2015.

Payments are due on the first of each month until the loan is repaid in full. The interest rate is 8 % and the interest will be calculated beginning January 1, 2015.  The borrower will have 30 months to repay the loan but there is no penalty for early repayment.  Bar Study loans are no longer eligible for repayment assistance through Berkeley Law’s Loan Repayment Assistance Program and cannot be consolidated into the Federal Direct Loan program. ACS will be the servicer for this loan.

Remember:  Each applicant is responsible for the accuracy and completeness of all submitted information.

Good luck on the bar exam!

Budget Appeal Forms Now Available for 2013-14

Budget Appeal Forms, including an addendum for state bar exam fees, are now available on our Forms page and should be submitted to the Berkeley Law Financial Aid Office.

Boalt students whose financial aid budgets do not reflect their actual costs may submit a budget appeal to increase costs for additional loan eligibility.

Please allow at least two weeks for processing.  If the appeal requires review by the Graduate Appeals Committee, processing time will be longer.

EXPLANATIONS AND TIPS FOR YOUR APPEAL

Transportation:
 If you drive and you are requesting an additional transportation allowance, you must explain the necessity for using private rather than public transportation.

Housing:
 Your name must be on the lease/rental agreement and on all utility bills. If the housing documentation indicates occupancy by more than one person, the total housing cost will be divided by the number indicated.

Medical:
 If you are requesting additional aid to pay medical expenses incurred prior to the
beginning of the current academic year, you must provide a current statement indicating the amount still outstanding.

Computer Purchase: The computer must be purchased during the enrollment period for which you are requesting the budget adjustment. You may only request a budget adjustment for a computer purchase once every three academic years.

Inadequately documented expenses will not be considered.

The following expenses are not allowable for funding with need-based financial aid:

  • Credit card payments
  • Job interview expenses
  • Bar review expenses
  • Educational loan repayment
  • Purchase/maintenance of a motor vehicles
  • Additional allowance for food
  • Discretionary (optional) medical or dental procedures

Requests for add-ons which exceed the maximum allowance will be referred to the Graduate Appeals Committee.

Appeals are scanned into our imaging system. In order to avoid readability problems we request that you use black ink only; do not use finepoint pen, or highlighter.  Submit all documentation on white 8 ½” x 11″ paper.

Questions?  Send us an email at financial-aid@law.berkeley.edu.

Best of luck!

Budget Appeal Forms are now available for 2012-13

Students whose financial aid budgets do not reflect their actual costs may submit a budget appeal to increase costs for additional loan eligibility.

Budget Appeal Forms are available on our Forms page and should be submitted to the Berkeley Law Financial Aid Office.
Please allow 2 weeks for processing.  If the appeal requires review by the Graduate Appeals Committee, processing time will be longer.

EXPLANATIONS AND TIPS FOR YOUR APPEAL

Transportation:
If you drive and you are requesting an additional transportation allowance, you must explain the necessity for using private rather than public transportation.

Housing:
Your name must be on the lease/rental agreement and on all utility bills. If the housing documentation indicates occupancy by more than one person, the total housing cost will be divided by the number indicated.

Medical:
If you are requesting additional aid to pay medical expenses incurred prior to the
beginning of the current academic year, you must provide a current statement indicating the amount still outstanding.

Computer Purchase: The computer must be purchased during the enrollment period for which you are requesting the budget adjustment. You may only request a budget adjustment for a computer purchase once every three academic years.

Inadequately documented expenses will not be considered.

The following expenses are not allowable for funding with need-based financial aid:
Credit card payments -Job interview expenses -Bar review expenses
Educational loan repayment- Purchase/maintenance of a car -Additional allowance for food
Discretionary (optional) medical or dental procedures

Requests for add-ons which exceed the maximum allowance will be referred to the Graduate Appeals Committee.

Appeals are scanned into our imaging system. In order to avoid readability problems we request that you use black ink only; do not use finepoint pen, or highlighter.  Submit all documentation on white 8 ½” x 11″ paper.

Email:  financial-aid@law.berkeley.edu – Phone:  510-642-1563 – Fax:  510-666-3577

Direct Loan Early Repayment Problem

The financial aid office has received word from a growing number of you that at least one of your Direct Graduate Plus loans has been placed into early repayment by the Direct Loan Servicing Center (ACS) due to an error in the ACS processing system. Some have been in repayment for some time and are now considered “past due” or may have had a payment deducted from your personal account.

We recommend that ALL students who have borrowed Graduate Plus loans view their loan record online at www.nslds.ed.gov. If Direct Loan (ACS) is your servicer and you find that your recent GradPlus loan(s) are in repayment, contact the ACS customer service center immediately at 1-800-848-0979. Ask to have the loan placed into forbearance until your graduation date and confirm your current address. It can take up to 7-20 days for the the request to be processed. For those of you who have had early payments deducted from your accounts, request that you be reimbursed. We are told it can take up to 6 weeks for the reimbursement to be processed.

If you find your interaction with the customer service representative unhelpful, ask to speak to a supervisor. Should you find that unhelpful as well, contact our office and we will contact them on your behalf.

Finally, we recommend that you report your loan servicing problem with ACS to the Consumer Financial Protections Bureau at 1-855-411-2372. We are hoping that enough students will submit a complaint with the CFPB to expedite the system-wide fix.

Why is my loan payment amount less than I accepted?

Q: Why is my loan payment amount less than the amount I accepted?

A: The Direct Subsidized/Unsubsidized and Grad PLUS loans require a fee. This information is explained in the Entrance Counseling required of all new borrowers and can also be found on our Loans page. The loan fee amount is deducted from the loan before the loan is sent to a student’s CARS billing account. For example, if you accept $10,000 in Grad PLUS for the fall semester you should expect to receive $9,750 to pay to your CARS account.

Fall Portion of Loan Accept Amount: $10,000
Loan Fee: $250 (2.5%)
Amount Paid to CARS: $9,750

Please be aware of this difference when budgeting for your expenses.

If you owe anything to the campus in your CARS account, your financial aid will go toward paying that amount before a refund is generated.

Bar Study Loan Application Now Available

Students graduating in May 2011 may take out a University Bar Study Loan from Boalt Hall. These loans are to cover bar exam costs and living expenses while preparing for the examination. The University Bar Study Loan is not available to students who are blocked or have a university account that is past due.Loan amount: $4,200

The application is available for download from the Financial Aid website.

Return all completed documents in person to the Berkeley Law Financial Aid Office at 2850 Telegraph Avenue, Suite 500, no later than May 13, 2011. Office hours are Monday – Friday from 9:00 a.m. – 4:00 p.m. Applications received by mail will not be processed.
Repayment of loan: Repayment begins January 1, 2012 with the first payment due on February 1, 2012

Payments are due on the first of each month until the loan is repaid in full. The interest rate is 8 percent, and the interest will be calculated beginning January 1, 2012. The borrower will have 30 months to repay the loan, but there is no penalty for early repayment. Bar Study loans are eligible for repayment assistance through Berkeley Law’s Loan Repayment Assistance Program.

Notaries on campus can be found at blu. https://blu.berkeley.edu/notaries.htm. Copy Central and Kinkos also have notaries.