Loans for Current Undergraduate Students
Most families have two major needs when considering finance options for a college education:
- Obtaining manageable monthly payments.
- Minimizing the total cost of education.
To meet both of these goals, we recommend the following:
- Reduce your need to borrow by paying as much as you can directly to Emerson College or through the Tuition Payment Plan administered by Sallie Mae.
- Investigate the terms of available loan programs if you decide to borrow.
- Begin with an equal combination of loan and payment plan options to meet the financed amount.
- Determine what you can afford. If you can pay more monthly, increase your amount in the Tuition Payment Plan administered by Sallie Mae. If you need smaller monthly payments, increase the amount of the loan(s).
Types of Loans
If you need to borrow, learn more about the types of loans available to new and current undergraduate students:
- Federal Direct Loans
- Perkins Loans
- Massachusetts No Interest Loan
- Parent PLUS Loan
- Alternative Loans
Federal Direct Loans
To assist students and their family in obtaining federal loans, Emerson College is switching to the Federal Direct Loan Program beginning in the 2010–2011 academic year. For further information about the Federal Direct Loan Program and what this switch means for you, read our Direct Lending FAQs.
ElmSelect is a tool to compare loan products. Emerson College has decided upon these loan products criteria in an effort to provide students with information about loan programs that are not only cost effective, but are also accessible to credit worthy families. This list of lenders is by no means all inclusive. Families should feel free to choose a lender that best meets their specific needs whether that lender is on this list or not. Emerson will certify private education loans through any lender regardless of whether they appear on this list. Please note that lender information is subject to change without notice. Families should always check with the lender directly for up to date information. The ELM Select 2.0 system is not yet delivering all committee-approved lender options. The software should be updated by 9/1/13. Please be advised that any lists provided by Emerson College are not exhaustive and borrowers have the option of borrowing under any loan program.