Loans & Financing Options
When you consider all the ways an education at a top university can enrich your life, it’s one of the best long-term investments you can make in your future. Borrowing is one way to make that investment possible. Of course, only you and your family can decide how much is a reasonable amount to borrow. But with careful planning, a loan can be a smart decision.
Most educational loans offer more favorable terms than other consumer loans, such as car loans or credit cards. However, since all loans must be repaid, we encourage you to borrow no more than necessary, explore other options for financial aid, and earn as much as possible through employment.
Certain borrower information will be submitted to the National Student Loan Data System (NSLDS) and will be accessible by authorized agencies, lenders, and institutions for students and parents borrowing federal loans.
- Student Loans Federal and state loans offered to students who qualify, based on your application for financial aid. Generally, student loans offer more favorable terms than credit-based loans .
- Credit-Based Loans Loans for educational expenses, available to students, parents and others who qualify for credit.
- Payment Plan Not a loan but a payment plan to budget your payments monthly without interest charges, to be used alone or in combination with a credit-based loan or other aid.
- Prepaid Tuition Plan An option to prepay four to eight semesters of tuition at the current tuition rate.
- Loan Repayment Federal, state, and private education loans have different repayment plans and consolidation options. Specific information about your loan program including contact information for your loan servicer.
- Code of Conduct Boston University’s practices regarding private loans.