Undergraduate Degree Students

Whether you’re paying college expenses with savings or taking out loans, the damaged economy resulting from the global pandemic may make paying your tuition bill even more challenging. The information below is presented to help you and your family make smarter choices about how to pay for BU and thoughtful borrowing decisions.

After determining whether you qualify for government-sponsored student loans, which generally offer more favorable terms, you may want to consider credit-based loans to help pay direct and indirect college expenses.

On an annual basis, Boston University invites private lenders to provide information about their products through a Request for Information (RFI) process. The University has reviewed the information provided by every lender who submitted information and, based on the information submitted, identified the following loan products as having competitive rates, customer service, and borrower benefits.

You are not required to borrow from one of the lenders listed here or in other University materials. You may choose to borrow from any lender without penalty.

We urge you to compare credit-based loan information and terms carefully to determine the best fit for your particular circumstances.

If you are interested in applying for a credit-based loan it’s advised that you do so no more than 90 days prior to the start of the enrollment period, i.e. early June for fall semester and academic year loans and mid-October for spring semester loans.

Check our Credit-Based Loan Timeline page for more information about what action steps you need to take and when to take them. For example: Will you need to borrow? If so, how much? What should you look for in a loan to ensure that it meets your needs and desires? How do you pick a lender, and how do you apply?

To request an adjustment to an existing credit-based loan for an undergraduate student, borrowers must complete and submit a Loan Adjustment Request – Undergraduate form.

Loan List for Undergraduate Students & Parent Borrowers

  • Federal PLUS Loan
  • Private Credit-Based Loans (ELM)
    • Undergraduate Student Loans
      • Citizens Bank Student Loan for Undergraduate Students
      • Discover Undergraduate Loan
      • KHEAA/KHSLA Advantage Loan (Kentucky Residency Not Required)
      • MEFA Undergraduate Loan (Massachusetts Residency Not Required)
      • RISLA Student Loan Deferred Repayment (Rhode Island Residency Not Required)
    • Undergraduate Parent Loans
      • Citizens Bank Student Loan for Parents
      • KHEAA/KHSLA Parent Advantage Loan (Kentucky Residency Not Required)
      • RISLA Parent Loan (Rhode Island Residency Not Required)
      • Sallie Mae Parent Loan
      • SoFi Lending Parent Loan

Additional Resources for Undergraduates