The California Dream Loan is available to eligible undergraduate and graduate students enrolled in at least six units that qualify for the AB 540 nonresident tuition exemption and demonstrate financial need based on their California Dream Act Application.
Students who meet all other financial aid eligibility requirements, including SAP, will be offered the California Dream Loan during the academic year. The interest rate of the California Dream Loan is the same as the interest rate for the Federal Subsidized Loan each year.
- Loan Processingadd
-
The California Dream Loan will be included as part of your academic year financial aid package if you are eligible.
-
If you wish to borrow the loan, you can begin by accepting the loan under the My Finances tab in CalCentral.
-
The loan servicer, Heartland ECSI, will email you instructions on completing the loan requirements beginning August 1.
-
The Heartland ECSI email will include a PIN for logging into Electronic Promissory Notes. You will use your PIN and California Student Aid Commission (CSAC) Id to complete loan entrance counseling and the promissory note.
-
If you can’t find your PIN, please get in touch with ECSI. You may be asked to provide your CSAC Id, legal name, address, and date of birth.
-
Please complete the loan requirements by November 30 to receive a disbursement from the California Dream loan before the end of the Fall term and by April 30 to receive a disbursement from the loan before the end of the Spring term.
-
California Dream loan processing will be on hold between December 15 and January 2. If you accept the loan during this period, you may only be able to begin the online process after January 2. Loan requirements completed after November 30 may result in refunds issued in January.
-
- Loan Disbursementadd
-
After the student completes California Dream Loan requirements and the mandatory three-business day rescission period is over, UC Berkeley will receive an electronic confirmation from Heartland ECSI.
-
Your loan requirements task in CalCentral will be complete once UC Berkeley receives confirmation from ECSI.
-
The loan will be disbursed to your student account if you meet all eligibility criteria.
-
You will receive a refund if your loan disbursement exceeds your outstanding charges on your billing account.
-
Sign Up for Direct Deposit if you want your refund deposited directly into your bank account.
-
Please open a case with Cal Student Central if you have questions about the California Dream Loan.
-
- Summer Berkeley Loanadd
- The Summer Berkeley loan is a subsidized loan offered to California Dream Act Applicants in the summer term.
- The loan is available to students enrolled in six or more units that qualify for AB 540 nonresident tuition exemption and meet Summer Aid eligibility requirements, including SAP.
-
Students must be enrolled in six or more units to qualify for financial aid. Private loans may be available to students enrolled less than half-time. Check with lenders regarding the enrollment requirement for their loan products.
-
You can qualify for a maximum of $6,000 in the combined academic year California Dream Loan and the Summer Berkeley Loan.
-
For example, if you utilized $3,500 in the California Dream Loan during the academic year. You will qualify for a maximum of $2,500 in the Summer Berkeley Loan, limited by need.
-
Summer is the last term in the current 2023-24 academic year. If you want to be considered for financial aid in the Summer, you must complete the 2023-24 California Dream Act Application (CADAA).
-
Non-U.S. citizens eligible for in-state tuition under AB 540 may complete the CADAA at https://dream.csac.ca.gov. Log into your account to retrieve and complete the 2023-24 CADAA.
-
Summer Berkeley Loan has a fixed interest rate of 5.0%.
-
Please open a case with Cal Student Central if you have questions about the Summer Berkeley Loan.
- Repayment Termsadd
-
Interest accrual and repayment of the California Dream Loan begins six months after you leave school or drop below half-time.
-
Interest will accrue from the beginning of the repayment period, and periods of authorized deferment are not included in the repayment period.
-
The interest rate of the California Dream Loan is the same as the interest rate for the Federal Subsidized Loan each year. The standard repayment period for the California Dream Loan is ten years.
-
The annual loan maximum is $4,000, with a $20,000 aggregate limit as an undergraduate and a $20,000 aggregate limit as a graduate student.
-
You can make payments on your California Dream Loan to the loan servicer Heartland ECSI.
-
If you leave school, graduate, or enroll less than half-time, you will be asked to complete Exit Counseling with Heartland ECSI.
-
Be sure to keep your contact information up-to-date with UC Berkeley and Heartland ECSI in order to receive essential information regarding repayment.
-
You can repay your loan without penalty at any time. The faster you pay your loan, the less interest you pay over time.
-
You will receive information regarding repayment at the end of your grace period; please keep your contact information up-to-date with ECSI.
-
If you have not received repayment information, don't hesitate to contact Heartland ECSI or open a case with Cal Student Central.
-
- Contact - Financial Aid and Scholarshipsadd
- Cal Student Central is your destination for key university business related to financial aid, fees and billing, payments, disbursements, registration, and enrollment.
- Please open a case with Cal Student Central if you have questions about the California Dream Loan or the Summer Berkeley Loan.