Stop! Apply for Financial Aid
Before considering private loan options, we recommend that you apply for federal, state and institutional financial aid, including federal student loans. If you are considering educational private loans, you should apply only after applying for financial aid and received notification from The Solution Center. UMass Lowell strongly encourages all students to apply for financial aid each year online at Free Application for Federal Student Aid (FAFSA).
Monthly Payment Plan
The Monthly Payment Plan is another financing option available to families. This service enables you to make payments in monthly installments for the semester's tuition and fees. This is not a loan program, and there are no finance or interest charges. There is, however, a non-refundable application fee. Find out more about your options with Flywire.
Alternative Loan Disclosures
*Please Note: The University of Massachusetts Disclosure Statement Concerning Lenders for Private/Alternative Student Loans: 2020-2021
Every student/parent/guardian has the right to select their lender. The lenders listed at this site are independent entities. The University of Massachusetts makes no representations, warranties, or guarantees, implied or otherwise, as to the lenders listed at this site or that the financing options presented at this site are the most attractive terms available to any particular student, or parent, or guardian of a student seeking financial aid. Also, information may not be updated or timely or may be subject to data entry errors or changes by the lender. Please read carefully final loan agreements or promissory notes and understand their payment terms and other obligations.
The university is not a lender and is not engaged in rendering legal, accounting, financial planning or other related professional services. Any agreements entered into with the lenders whose products are included at this site will exist solely between the lender and the borrower, and the university assumes no obligation or liability in connection with any such agreements.
The university recommends that borrowers consult with their own expert advisors before making educational financing decisions. Students and their parents/guardians have the right and ability to select the education loan provider of their choice, and are not required to use any of the lenders listed below. There will be no penalty for choosing a lender that is not included as a lender on this site, if you wish to use another lender not listed here, you have the right to do so.
The lenders listed on this website responded to a publicly solicited Request for Response for private/alternative student loans. This request document can be found on the Internet by searching for the document number CP-20-PF-0043. The university reviewed information regarding each lending institution’s background, loan program requirements, and customer service and program affiliations. 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 the University of Massachusetts campuses at Lowell, Dartmouth, Boston and Amherst 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.
Elm Select is a lender comparison tool where students and parents can research the terms and conditions of different lenders. Through ELM Select , families can choose the loan that best fits their personal financial situation, educational goals and objectives.
Go to Elm Select to start comparing today!
Alternative Loan Options
Below find Alternative Loan options available based on enrollment status. Please review and choose the loan which best fits your needs: