Alternative Loan Options

Federal Alternative Loan Options

Federal Direct Parent Loan for Undergraduate Students (PLUS)

UMass Boston participates in the Federal Direct PLUS Loan Program.  All PLUS loans will be processed through this program.  For more information, or to apply for a Federal Direct PLUS Loan go here.

Federal Direct Plus Loan for Graduate Students

This is a low interest, credit based loan from the Federal government available to graduate students who wish to borrow on their own behalf. Students must meet the eligibility for aid and be enrolled at least half-time.It is also highly recommended that you borrow the maximum Federal Stafford Loan offered to you before applying for a GRAD PLUS Loan. Additional information can be found in the Federal GRAD PLUS Loan Application here.

 

Private Alternative Loan Options

UMB will process private/alternative loans for any lender selected by the student. Through ELM Select, students can research the terms and conditions of 6 different lenders and choose the loan that best fits their personal financial situation and educational goals and objectives.  Loan applications received through ELM Select will have funds disbursed electronically to UMass Boston which may expedite the process.  Please refer to ELM Select at https://www.elmselect.com/oll/SchoolLenderList/?schoolId=8486 to review these private educational loans and find one that best fits your personal needs. However, if you wish to use another lender not listed here, you have the right to do so.