When You Need Additional Financing
Private loans are available from private lenders and other financial institutions. They can be costly and are intended as supplements to federally supported loans or as a substitute for families that do not qualify for federally supported loans. In most cases, these alternative loans require the family, student, or a co-signer, to meet credit requirements.
To save yourself hours of research, use ELM Resources to compare many different lenders and their terms and conditions. For added convenience, you can apply for loans directly from this website. The ten different private lenders listed on ELMSelect under UMass Boston are only a fraction of the lenders available.
Students and their parents/guardians have the right and ability to select the education loan provider of their choice. You are not required to use any of the lenders listed. Each lender is an independent entity and UMass Boston adheres to a strict Vendor Code of Conduct of no partiality.