Recipients are selected on the basis of demonstrated financial need. This program is awarded to full-time undergraduate students. A promissory note is mailed with the award letter, and it must be completed and returned to the Financial Aid Office before the loan proceeds will be on the student's tuition account. Applicants must be able to document in writing the unexpected circumstances surrounding the hardship. Emergency loans are not available to students with a tuition balance.
Students can apply online or by using a paper application.
It is open to students and their families, and approval is based on the applicant's creditworthiness. The Mass Plan loan offers two interest rate options, a variable rate and a fixed yearly rate. Repayment begins immediately, and families may borrow up to the student's cost of education less financial aid received. The TERI Alternative Loan offers a competitive interest rate. Loan approval is based on the applicant's creditworthiness and ability to repay the loan.