Loans

New Federal Stafford Loan Borrowers
New Stafford Loan borrowers must complete a Federal Stafford Loan Master Promissory Note (MPN) before the Financial Aid Office can disburse any loan proceeds. Students are encouraged to apply for their Stafford loans online. Borrowers may choose any lender from the list below OR feel free to select a different lender with whom to borrow.

Lender Information	Borrower Benefits	To Apply
Access Group Lender code: 808851 Servicer: Access Group	1% Origination Fee 1% Default Fee 0.25% interest rate reduction for borrowers who have their loan payments automatically withdrawn from any bank account
Citizens Bank Lender code: 817729 Servicer: Sallie Mae	1% Origination Fee 1% Default Fee 0.25% interest rate reduction for borrowers who have their loan payments automatically withdrawn from any bank account
Nellie Mae Lender code: 829076 Servicer: Sallie Mae	1% Origination Fee 1% Default Fee 0.25% Interest Rate Reduction for borrowers who have their loan payments automatically withdrawn from any bank account
EdAmerica Lender code: 831453 Servicer: EdFinancial Services	1% Origination Fee 1% Default Fee 0.25% Interest Rate Reduction for borrowers who have their loan payments automatically withdrawn from any bank account

Federal Parent PLUS Loan Borrowers
The New England Conservatory Financial Aid Office recommends the Federal PLUS Loan as one of the best financing options to assist undergraduate students with covering their remaining account balance. This program is available to credit-worthy parents of dependent, undergraduate students. Parents are encouraged to apply for their PLUS loans online. Borrowers may choose any lender from the list below OR feel free to select a different lender with whom to borrow.

Lender Information	Borrower Benefits	To Apply
Citizens Bank Lender code: 817729 Servicer: Sallie Mae	3% Origination Fee 1% Default Fee 0.25% Interest Rate Reduction for borrowers who have their loan payments automatically withdrawn from any bank account
Nellie Mae Lender code: 829076 Servicer: Sallie Mae	3% Origination Fee 1% Default Fee 0.25% Interest Rate Reduction for borrowers who have their loan payments automatically withdrawn from any bank account
EdAmerica Lender code: 831453 Servicer: EdFinancial Services	3% Origination Fee 1% Default Fee 0.25% Interest Rate Reduction for borrowers who have their loan payments automatically withdrawn from any bank account

Federal Graduate PLUS Loan Borrowers
Federal PLUS Loans are now available to credit-worthy graduate and professional students seeking to borrow on their own behalf. As federal loans are often the cheapest way for graduate students to borrow, the New England Conservatory Financial Aid Office encourages students to explore this loan option before borrowing privately. Students are encouraged to apply for their PLUS loans online. Borrowers may choose any lender from the list below OR feel free to select a different lender with whom to borrow.

Lender Information	Borrower Benefits	To Apply
Access Group Lender code: 808851 Servicer: Access Group	3% Origination Fee 1% Default Fee 0.25% Interest Rate Reduction for borrowers who have their loan payments automatically withdrawn from any bank account
Citizens Bank Lender code: 817729 Servicer: Sallie Mae	3% Origination Fee 1% Default Fee 0.25% Interest Rate Reduction for borrowers who have their loan payments automatically withdrawn from any bank account
Nellie Mae Lender code: 829076 Servicer: Sallie Mae	3% Origination Fee 1% Default Fee 0.25% Interest Rate Reduction for borrowers who have their loan payments automatically withdrawn from any bank account
EdAmerica Lender code: 831453 Servicer: EdFinancial Services	3% Origination Fee 1% Default Fee 0.25% Interest Rate Reduction for borrowers who have their loan payments automatically withdrawn from any bank account

Private/Alternative Loan Borrowers
New England Conservatory is in the process of compiling a list of alternative loan options with erms and services that we feel best meet the needs of NEC students and their families. We will be posting the list online shortly. As it will not be exhaustive, students and/or their families are welcome to borrow through loan programs not listed.

When researching your loan options, it is advisable to take into consideration the loans' interest rates as well as the origination, disbursement, and repayment fees. The NEC Financial Aid Office will be happy to answer questions or provide information as you identify the program, or combination of programs, that will best suit your family's unique situation.

Feel free to visit the following private loan comparison websites:

FinAid.org Private Education Loans