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Alternative Loan Programs

General Information

The college hopes that the financial aid offered to you is sufficient to cover your costs associated with enrolling at MassArt.

If the aid offered to you does not cover your total cost of attendance, or should you decide not to accept a portion of the aid offered to you, you may consider applying for a private student loan. A student's maximum eligibility for an alternative loan is their cost of attendance, less any other aid they are receiving.

Alternative Loans are not based on need, but on credit worthiness. Therefore, borrowers are required to have a creditworthy co-signer who is a U.S. citizen or a non-citizen permanent resident. We encourage our students to carefully compare the various pieces of information concerning credit-based student loans, in order to determine which one best meets their needs. Factors like interest rates, APR (Annual Percentage Rate), the length of repayment, minimum and maximum loan limits, and fees, should be carefully weighed.

We encourage students to apply for only one or two alternative loans each year. Each application shows up on your credit report as a "hard inquiry." Too many hard inquiries over fourteen or more days can impact your overall credit score. If you apply and are approved for more than one alternative loan, please let our office know which one you wish to borrow. Otherwise, we will certify the first application we receive, and cancel any others.

The Alternative Loan Process 

Student Financial Assistance will certify all loans to disburse for both the fall and spring semesters, unless otherwise notified by the student. Students should notify the office if they would like a one term disbursement after they have completed the application process.

Alternative Loan funds are disbursed to MassArt each semester via paper check. Some lenders may require a student to sign a check. Students who need to sign an alternative loan check are contacted by Student Financial Assistance via their MassArt e-mail.


These lenders offer private student loans with competitive rates while providing good customer service and electronic loan processing. You are welcome to borrow from the lender of your choice without penalty, whether or not that lender is identified here, or in other materials produced by MassArt. MassArt does not endorse any one loan product.

If you have any additional questions about borrowing a private loan, please call the Office of Student Financial Assistance at 617.879.7849.