Loans & Financing Options
When you consider all the ways an education at a top university can enrich your life, it’s one of the best long-term investments you can make in your future. Borrowing is one way to make that investment possible. Of course, only you and your family can decide how much is a reasonable amount to borrow. But with careful planning, a loan can be a smart decision.
Most educational loans offer more favorable terms than other consumer loans, such as car loans or credit cards. However, since all loans must be repaid, we encourage you to borrow no more than necessary, explore other options for financial aid, and earn as much as possible through employment.
The U.S. Department of Education’s central database for student aid is StudentAid.gov. This website is the main portal to access your entire federal loan borrowing history, application process, and central repayment information repository. To access your personal information at StudentAid.gov:
- Go to https://studentaid.gov/.
- Log into your account with your FSA ID and password.
- “Accept” the account access warning.
- Select “View Details”.
StudentAid.gov does not provide any information about any educational loans not issued by the U.S. Department of Education. This includes private, state, and institutional loans borrowed previously.
Loan and Financing Options
- Student Loans Federal and state loans offered to students who qualify, based on your application for financial aid. Generally, student loans offer more favorable terms than credit-based loans.
- Credit-Based Loans Loans for educational expenses, available to students, parents and others who qualify for credit.
- Payment Plan Not a loan but a payment plan to budget your payments monthly without interest charges, to be used alone or in combination with a credit-based loan or other aid.
- Loan Repayment Federal, state, and private education loans have different repayment plans and consolidation options. Specific information about your loan program including contact information for your loan servicer.
- Code of Conduct Boston University’s practices regarding private loans.