Frequently Asked Questions about the Elements Financial Federal Credit Union private student lending program:

Who is eligible?
International graduate students enrolled or enrolling in the UC Berkeley Haas School of Business are eligible. An international student is defined as a student who is not a U.S. citizen or U.S. permanent resident, and requires a visa for entry to the United States. Necessary documentation includes one of the following:

  • F-1 visa and I-20, I-94 and a valid passport with photo
  • J-1 visa and form DS-2019, I-94 and a valid passport with photo
  • HI-B visa along with a letter from your employer confirming employment, I-94 and a valid passport with photo

How much can I borrow?

Once approved, students can borrow from $1,000 up to the cost of tuition and fees less any other aid received as determined by the Financial Aid Office. The total amount the student can borrow throughout their graduate college career is dependent on program of study. The Haas School of Business will certify the requested loan amount with the credit union.

Educational Program / Maximum Loan Amount

 Full-time MBA - $110,000 or $52,328 annually

 Executive Weekend MBA - $115,000 or $47,690 annually

 Master of Financial Engineering - $62,000 or $31,000 annually


What is the interest rate on my line-of-credit and how is it determined?
Please visit our Interest Rates page for up-to-date rate information.

You can reduce your rate by 0.25% by making automatic electronic payments during your repayment period.

What are the repayment terms?

You may choose full deferment while in school, elect to make interest only payments while in school, or choose full principal and interest payments. Once you complete school and your six month grace period ends, you can choose a) straight repayment over the term – 20 or 25 years principal balance when you enter repayment, or b) graduated repayment for two years. The graduated repayment option amortizes the first 2 years over a 40-year period and then over either 18 or 23 years for the remainder of the loan. This means monthly loan payments will be lower in the first two years after starting repayment—which may be a valuable benefit if you are just beginning a new career and managing a tight budget.

How do I apply?
Apply now quickly and easily to receive instant line of credit approval. Or, call 877-230-3564 (dial 734-556-3081 from outside the United States) to apply by phone. Representatives are available 24 hours a day, 7 days a week to accept applications and answer your questions. 

Once I have established my line-of-credit (documents have been signed and funds disbursed), how do I request additional advances from my line-of-credit in the future?
For your second academic year, as a returning borrower with an existing line-of-credit, you do NOT need to complete an entirely new application to request additional funds. Simply apply for additional funds from your existing line-of-credit.

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