UMass Boston

Preferred Lender Disclosures

In order provide alternative counseling services to our students, UMass Boston has entered into a preferred lender arrangement.  Federal law mandates us to provide the following disclosures in association with this process:

Method and Criteria for Lender Selection

The lenders listed on this website responded to a publicly solicited Request for Response for private/alternative student loans. This request document, CP-20-PF-0043, can be found on the UMass president’s office website. The University reviewed information regarding each lending institution’s background, loan program requirements, customer service and program affiliations and has identified a group of alternative loan lenders and loan products that have competitive rates, excellent customer service and borrower benefits.

Evaluation Criteria

  • Front-end fees and benefits to borrowers
  • Repayment benefits and utilization rates
  • Quality of service during loan processing, including consumer information and web-based service features
  • Quality of service during loan servicing, including consumer information and web-based service features
  • Reputation and history of lender and loan servicer

The interest rate, fees, or loan cost offered by these lenders may not be the lowest available. In addition, a lender may change the rates, terms, fees, and other information from that which was presented in their original responses. The University will review the status of each lender at least annually and may add or drop lenders from this list. The University reviewers from UMass campuses at Lowell, Dartmouth, and Boston have declared no personal affiliation, financial interest, benefit, or other personal ties related to these lenders in a signed affidavit maintained on file at the University.


This list does not contain affiliated lenders.

Code of Conduct

UMass Boston has a Code of Conduct that must be followed.

The Choice Is Yours

Every student/parent/guardian has the right to select their lender. The lenders listed at this site are independent entities. The UMass Boston will process loans from any eligible lender you select. 

The Maximum Title IV Grant Aid & Title IV Loan Aid Available to Students

Maximum eligibility for Federal financial aid is based on the results of the FAFSA and is outlined on the student's financial aid award letter.  Federal financial aid has better terms and conditions than private student loans and we strongly encourage students to utilize that aid first.  The following is a list of maximum awards in each program:

Pell Grant - Amounts up to $6,495 for the 2021-2022 academic year depending on student's EFC (expected family contribution)

SEOG - $4,000 (Award amounts are dependent on federal funding with a typical UMass Boston award maximum being $800)

TEACH Grant - $3,772

Federal Direct Loan - $5,500 (freshman class); $6,500 (sophomore class); $7,500 (junior class and above); Independent students can receive an additional $4,000 (freshman and sophomore class) or $5,000 (junior class and above); Graduate Students receive $20,500 annually.

PLUS Loan - a credit-based loan for parent borrowers and graduate or professional students with a maximum determined by the difference between cost of attendance and the student's financial aid award.  The PLUS loan has a fixed interest rate of 6.28%% for the 2021-2022 academic year and an origination fee of 4.228% for loans disbursed after October 1, 2020.

Terms and conditions of Title IV loans that are more favorable than private education loans

When financing your education, a Federal Direct Loan should be your first choice once you have already collected any scholarships and grants you may be eligible to receive.

Federal Direct Loans are fixed rate federal student loans guaranteed by the government. They can be used to pay for educational related expenses. Direct Loans have a number of benefits all designed to help make paying for college more affordable.

One of the most important Direct Loan benefit is the fixed interest rate. Subsidized Direct Loans have a fixed rate of 3.73% for the 2021-2022 academic year.  There is no interest on this loan while the student is attending at least half time.  There is an origination fee of 1.057% on this loan.

Unsubsidized Direct Loans also have a fixed rate of 3.73%. The interest rate will remain fixed for the life of the loan until repayment is complete.  The interest accrues on this loan while the student is attending school. There is an origination fee of 1.057% on this loan.

Financial Aid

UMass Boston
Campus Center, 4th Floor
100 Morrissey Blvd.
Boston, MA 02125

Phone: 617.287.6300
Fax: 617.287.6323
Merit-Based Scholarship