Student Financial Services
Alternative Loans
For most alternative loans, graduate students must be enrolled in at least 5 credits per semester and undergraduate students must be enrolled in at least 6 credits per semester to qualify. If you are a student taking less than the minimum number of credits, you can contact Student Financial Services for information on loans that you may be eligible for.
We recommend applying for an alternative loan through ELM Select online.
Loans in this category are credit-based loans offered by various private lenders and are certified by the College each year for the student's entire annual academic period of enrollment. There are numerous alternative loans available from a wide variety of lenders.
Students should have the application completed and ready for certification by the school no later than July 25th for students beginning enrollment in the fall semester and November 25th for students beginning enrollment in spring semester. This will ensure the crediting of loan funds in a timely manner and prevent late payment fees.
Simmons College will not certify loans in a pre-approval status. Only loans that are fully approved (promissory note and additional documents submitted to lender) will be certified. Loans will not be certified for a partial period of enrollment (i.e., a single semester) unless it is the student's final period of enrollment.
Therefore, Simmons strongly encourages students to plan for the entire annual period of enrollment when applying for private alternative loans. Students' maximum eligibility for alternative loans is their total cost of attendance less any other financial aid they have received.
