Federal Direct Plus Loans

The Federal Direct Parent PLUS Loan is available for parents and stepparents of dependent undergraduate students who are enrolled at least half-time (6 credits) per semester.

The Federal Direct Grad Plus Loan is available for graduate students who are enrolled at least half-time (6 credits) per semester.

Federal Direct Plus Loans Terms:

  • Interest rate is a fixed 9.08% and origination fee of 4.228% (rates subject to change).
  • Loan approval is subject to credit criteria established by the U.S. Department of Education.
  • If you do not pass the credit check, you may still be able to receive a PLUS Loan with a credit-worthy endorser or appeal the credit decision with the U.S. Department of Education.
  • If a Parent PLUS Loan is denied, the student maybe eligible to borrow an additional Federal Direct Unsubsidized Loan.
  • Interest begins accruing from the date loan funds are first disbursed until the loan is repaid in full.
  • The first payment is due within 60 days of the loan’s last disbursement. Deferment options are available by contacting the U.S. Department of Education.

Apply online for a Federal PLUS Loan.

Private Alternative Loans

Before considering private loan options, apply for federal, state and institutional financial aid, including federal student loans. UMass Lowell strongly encourages all students to apply for financial aid each year online at fafsa.gov.

UMass Lowell will process private/alternative loans for any lender selected by the student. Please note that each lender has credit requirements which the borrower must meet or have a credit worthy co-borrower who meets those criteria.

Get more information on private alternative loan options.

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Monthly Tuition Payment Plan

Monthly payment plans by semester are offered through Flywire. Semester bills can be divided into five, four and three month payments. The earlier you are able to sign up, the smaller the monthly payments will be.

Payment plans enable students and their families to pay the tuition, fees, housing and meal plans in smaller, more affordable payments rather than in a lump sum. A payment plan is not a loan program and there are no finance or interest charges. There is a $30 nonrefundable application fee per semester.

For more information, or to sign up online, visit your SIS student center and click on payment options.