News
Students Make Informed Student Loan Choices
Over the summer, BU Sourcing & Procurement, together with BU Financial Assistance, invited lenders to provide information about their student loan products through a formal Request for Information (RFI) process. A committee, led by the Financial Assistance Office and comprised of representatives from the different schools and colleges on both campuses, met to review and discuss the findings. Loans for Undergraduate Degree, Graduate/Professional Degree, and Non-Degree were identified and scored based on competitiveness of rates, customer service and borrower benefits.
Christine W. McGuireExecutive Director of Financial Assistance states, “Boston University Sourcing has given the University committee for student loan policy invaluable support and guidance in identifying private loans for students and parents consideration. Now in our second year of a single University-wide RFI process, with the help of the Sourcing department, we have been able to create a web-based process to collect information and analyze it for the benefit of students across the 16 schools of the University. The Sourcing professionals have been so helpful, and the result has been improved service to students.”
Students were encouraged to visit BU Financial Assistance to compare information concerning credit-based student loans to determine the best fit for their particular circumstance. Students are always welcome to borrow from the lender of their choice without penalty, whether or not that lender is identified on the site or in other University materials.