Financing Your Education through Private Student Loans
With careful use, private loans can help to bridge the gap between the cost of UCSB Professional and Continuing Education (PaCE) programs/courses and your ability to pay for them.
Students have the right and the ability to select the private loan lender of their choice. We encourage you to review the lender terms and conditions and carefully consider the benefits and repayment information before choosing a lender. Please note that UCSB PaCE programs and courses are not eligible for federally sponsored (Title IV) financial assistance.
The University of California Office of the President has put together a list of recommended lenders. You are not required to use any of the lenders on the list, but are simply provided for your convenience. If you have specific questions related to your credit history, the contact information for alternative loan lenders is available on the Student Loan Application Portal on the Private Lenders website.
To secure your loan for UCSB PaCE Programs/Courses, you must do the following:
- In order to receive loan proceeds, you must apply to the lender directly.
- Your student loan must be approved by the bank and certified by UCSB Professional and Continuing Education at least four weeks prior to your first class meeting.
- Once your loan has been approved by the lender, in order for your loan to be certified, please contact Student Services with your proposed courses. We will need to know which course/s you intend to complete for each quarter and if you need textbooks funds for each quarter. PaCE only certifies loans for the Program total cost. Living expenses or other types of personal expenses cannot be certified by PaCE.
- Loans are certified each term (1 year) for a maximum of the total amount of course fees, $35 for the Loan Certification Fee (per quarter), $150 (or $95 or $45 depending on the Program) for the Certificate of Candidacy/Release Fee, and $150 towards textbooks if needed (per quarter).
Per HEOA guidelines, our office adheres to the University of California Student Loan Code of Conduct.
It is recommended that you begin the loan application process early as UCSB PaCE does not enroll students in courses until payment is received, and applying for a loan does not reserve a space in the course.
Student Loan Deferment
Students enrolled in courses through UCSB PaCE, who have prior federal student loans, are not eligible for loan deferments. Federal loan deferments are approved only when a “student is enrolled in a program leading to a degree or certificate at an eligible institution (i.e. one that is eligible for federal loans).” Programs offered through UCSB PaCE are not eligible for federal loans. Student services staff can verify course/program enrollment, but cannot complete the school section of forms related to loan deferment of FFELP (Federal Family Education Loan Program), Federal Direct (William D. Ford Federal Direct), Stafford, Perkins, and PLUS loans.