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Alternative Student Loan Options

Before considering an alternative loan, we encourage you to apply first for federal grants and loans that have more favorable terms and conditions than a private educational loan.

To help you complete an alternative loan application, here are the estimated costs of attendance.

The following links are for credit-based private educational loans. On many of the loans, interest is variable at prime plus a percentage and a co-signer is usually required. Repayment may begin immediately. Students do not need to be eligible for financial aid.

MCLA has chosen to list these loans based on the review of disclosure information submitted by these lenders. We are posting their websites for your convenience.

Please remember, you may choose one of the lenders listed or one of your own. Make sure that you research each loan for current interest rates and terms before choosing a lender.

These loans are listed based on borrower volume at MCLA and a 'Request for Information' (RFI) from the lenders, not in order of College preference. Information for Graduate borrowing can also be found through the lenders listed below.


MEFA is Massachusetts state financial authority offering both parental and student loans. Loans are available to both Massachusetts residents and out-of-state students attending a Massachusetts school. Interest rates are fixed.

MEFA Loan Information

Sallie Mae Smart Option Student Loan - Sallie Mae Bank

Smart Option Information, Interest Rates and Application Material

Disclosure Information

TruFit Student Loan - Citizens Bank

TruFit Loan Information & Interest Rates

Disclosure Information

Discover Student Loans

Discover Loan Information & Interest Rates

SunTrust Education Loans - SunTrust Bank

SunTrust Loan Information & Interest Rates

Wells Fargo Collegiate Loan

Wells Fargo Loan Information & Interest Rates