Financing Options

The loan programs described below allow credit-worthy parents of dependent students to borrow up to the entire cost of college, less any awarded financial aid. Because the loans are not based on need, the family is not required to apply for financial aid. However, the student and applicant must meet eligibility requirements outlined in the application materials. Unlike student loans, repayment on parent loans begins after the second disbursement of the loan funds. Loan funds will be credited to the student's tuition account no earlier than ten days prior to the start of the semester.

• Alternative Loan Programs
• Alternative Financing Guide (2018-2019)

Federal Direct PLUS Loan

The Federal Direct Parent Loan for Undergraduate Students (PLUS) allows parents to borrow on behalf of their dependent students. Eligibility for this loan is not based on financial need but does require a credit check. Parents may borrow up to the cost of attendance minus any financial aid. The loan has a fixed interest rate of 7.6% (this rate resets annually on July 1). There is a maximum repayment period of 10 years, with a minimum monthly payment of $50. Fees for this loan are 4.248% which is subtracted from the requested loan amount prior to disbursement of the funds to the College. Note: In the case that a parent is not approved for a Federal Direct Parent PLUS Loan, the student may be eligible for an additional Federal Direct Unsubsidized Stafford Loan.

Before Federal Direct Parent PLUS loan proceeds can be credited to a student's tuition account, the Office of Student Financial Services must receive confirmation from the Department of Education that the applicant has successfully completed a Federal Direct Parent PLUS Loan Master Promissory note and passed a credit check.

IMPORTANT NOTE: The student and parent(s) with whom the student resides must file a FAFSA in order to apply for this loan.

If you are a dependent student and your parent is denied the Federal Direct Parent PLUS Loan, you are eligible to receive additional Federal Direct Unsubsidized Stafford Loan funds. The College will notify you of your eligibility for the additional funds once we verify a parent's ineligibility for the Federal Direct PLUS Loan.

Effective February 14, 2010, lenders of private education loans are required to collect a completed and signed Self Certification Form from the student prior to disbursing the loan proceeds to the College. To assist you in completing the information necessary for SECTION 2: COST OF ATTENDANCE AND ESTIMATED FINANCIAL ASSISTANCE of the form, you can login to your myCurry account to view individual information. Private education loans include all Alternative Loan, as well as the Massachusetts No Interest Loans programs. Individual lending institutions may have their own procedures to comply with this regulation, so you should contact your lender directly if you have specific questions about the process for submitting this form.

Important Note:  Your loan funds cannot be paid to the College to settle your student account balance if you do not submit the completed and signed Self Certification Form to your lender.

The Higher Education Opportunity Act (HEOA) enacted August 2008 amended the Truth-in-Lending Act (TILA) establishing private education loan disclosure requirements about loan terms on or with the loan application and lenders must also disclose information about lower cost alternatives like federal student loans. Additionally, once the loan is approved and finalized for disbursement, additional disclosures must be provided. These regulations were passed to ensure that borrowers of private education loans have the necessary information to make informed choices about financing products to fund educational costs. These regulations apply to all private education loans but not to loans under the Federal Title IV Loan Programs (Stafford, Perkins and PLUS). We are providing a model Private Lender Agreement (PLA) Form as an example of what your lending institution is required to share with you upon borrowing an educational loan.

Model PLA Agreement Form

We encourage you to start early in the planning your educational financing so you do not experience delays in receiving your education loan proceeds. Under these amendments, you, the borrower will have additional responsibilities as a loan borrower including acknowledgement of the disclosure statements and completion of the Self-Certification Form. We encourage you to check with your lender to ensure you complete all necessary paperwork. Also, we invite you to contact the Student Financial Services Office if you have any questions about these requirements.

Families may also elect to break up the cost of the entire year into installments using the Tuition Management Services (TMS) payment plan. For a nominal enrollment fee, payments may be made for the entire year on an interest-free, 12 or 10 month payment plan. There is a $60 enrollment fee for both the 12 and 10 month plans. Twelve month plans begin on May 1 and end on April 1. The 10 month plan begins on July 1 and ends on April 1. We also offer a single semester plan for an enrollment fee of $40 in which half the yearly cost is paid to TMS in five installments. The Fall semester plan also begins on July 1 and ends on November 1. The Spring semester plan would begin on December 1 and end on April 1. For information about how to enroll in either plan, please contact TMS on their website or call (888) 216-4258.

Payments

Curry College partners with Tuition Management Systems (TMS) to process checking and savings transactions and to accept credit/debit card payments online. TMS accepts American Express, Discover, MasterCard and VISA cards. You may make payments at curry.afford.com/paynow.

PLEASE NOTE: Effective June 1, 2016 credit and debit card transactions will have a service fee applied. A transfer payment from a bank checking or savings account will not incur a service fee.

If you prefer to pay Curry directly, you can visit our office during regular business hours to pay with cash or mail your personal or official check to our address. We are available to assist you and answer any questions you have at 617-333-2354 or studentaccounts@curry.edu.