Office of Student Financial Services

Student Loan Options


Before you apply for a credit-based 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. However, Student Financial Services recommends that you apply for a loan after you receive your bill. Bills are mailed in early July and mid-November.

MCLA has chosen to list these loans based on the review of disclosure information submitted by these lenders, not by College preference. 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.



The Massachusetts Educational Financing Authority (MEFA) is a not-for-profit and state-based student loan organization. MEFA offers low interest rates on their student loans with with various options for repayment. The student must be making satisfactory academic progress.

As a credit-based loan, if a student is applying, a co-signer will be required, but there are options for borrower release. 

For more information, students and families can visit


alternative Student Loan Lenders

The following links are for credit-based private educational loans. Student Financial Services strongly advises that you research multiple types of loans before applying for an alternative student loan. For many of the loans, interest is variable at prime plus a percentage and a co-signer is usually required. Repayment may begin immediately depending on the terms of the loan.

Students do not need to be eligible for financial aid in order to apply for an alternative student loan.

Sallie Mae Student Loans

Citizens Bank Student Loan

Discover Student Loans

Nelnet Student Loans

College Ave Student Loans

Ascent Student Loans

EDvestinU Student Loans

AAA Advantage Student Loans

Advantage Education Student Loans

LendKey Private Student Loans 

DCU Student Choice Student Loans