We realize that financing a Curry education can be a challenge for most families. In an effort to assist families with the cost; we offer the following options to assist in financing your Curry education.
Students must complete the Free Application for Federal Student Aid (FAFSA) in order to have eligibility determined for and receive an actual financial aid award that includes - federal grant, loan or work study assistance.
Loan Programs for Parents of Dependent Students
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.
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 7.9%. There is a maximum repayment period of 10 years, with a minimum monthly payment of $50. Fees for this loan are 4% which is subtracted from the requested loan amount. 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 disburse to a student's 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.
Curry College is required to obtain a statement from students whose parent applies for a Federal Direct Parent PLUS Loan without first completing the Free Application for Federal Student Aid (FAFSA). This form acknowledges that the student will use the Federal Direct Parent PLUS Loan funds for educational expenses.
Statement of Educational Purpose Form (PDF)
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. In order to receive these funds, you must request them in writing. Please complete the form listed below and submit it to our office.
Unsubsidized Stafford Loan letter (PDF)
Alternative Loan Programs: Many families supplement their college financing plan with private educational loans. Private loans are available from a variety of sources and provide additional funding when the other types of aid do not cover costs. These loans are not guaranteed by the federal government but by private financial institutions. Interest rates on these loans are typically higher than federal loans but lower than personal loans. Student borrowers will need a credit-worthy co-signer to borrow from these loan programs.
The many opportunities available to finance a Curry College education may include a deferred payment plan and long-term loan programs to reduce immediate out-of-pocket expenses and help spread out college payments over a manageable period. The Student Financial Services Office will work with students and their families to assist them in determining the best options. Click on the following link to view the Resources for Alternative Financing Guide 2010-2011. (PDF)
For more detailed information on each option, please download Financing Options Chart. (PDF) For additional financing options please check back for updates on new loan products.
Most lenders offer their own loan programs to help you meet education costs. The above chart includes some suggested lenders that the College has worked with to help families meet their financing goals. However, the College will work with and process loans for any lender of your choice. Parents and students have the right to select the lender of their choice without penalty by the College and are not required to use any lenders on the suggested lender list. When selecting the option best suited for your circumstances, you should compare interest rates, borrowing limits, credit requirements and repayment options. Please contact our offices for more information.
Private Education Loan Self Certification Form Information
Effective February 14, 2010, lenders of private education loans are required to collect a completed and signed Self Certification Form prior to disbursing the loan proceeds. This applies to any private education loan(s) that are not at least partially disbursed prior to the effective date. Private education loans include all Alternative Loan, as well as Massachusetts No Interest Loans. Individual lending institutions are implementing their own procedures to comply with this new regulation, so you should contact your lender directly if you have specific questions about the process for submitting this form.
If you do not submit a completed and signed Self Certification Form to your lender, your loan(s) will not be disbursed.
The Higher Education Opportunity Act (HEOA) amended the Truth In Lending Act (TILA) establishing lending disclosures to ensure that you, the student loan borrower can make informed choices about educational financing products to fund your educational needs. Higher education institutions such as Curry College are required to provide 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.
Click here to view the Model PLA Agreement Form (PDF)
Payment Plan
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 $55 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 $35 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 by clicking on this link or you can contact them by telephone phone at (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. There is no charge for this service. You may make payments at www.afford.com/curry.
If you prefer to pay Curry directly, you can visit our office 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.