Hampshire College

Hampshire College realizes that the cost of attending college may require families to borrow some or all of their estimated family contribution. We advise that the overall borrowing done by the student be kept to a minimum.

The suggested hierarchy of loan borrowing is:
1. Students maximize their Direct loan;
2. Parent borrows a PLUS loan to cover balance of bill;
3. If additional funds are needed, student, with parent as co-signer, borrows a small MEFA or alternative loan. We recommend no more than $5,000 per year be borrowed in a MEFA or an alternative loan.

Your goal is to determine which loan best fits your current and future needs, so take the time to review all of the information provided on this website. Begin with reviewing The Loan Process and Comparison of Various Financing Options listed to the left. 

Financing Tip: If you are planning to take out a loan, you should also consider a monthly payment plan to reduce the amount you need to borrow. For example, if you are planning to borrow $10,000 but can afford a $2,000 monthly payment plan ($200 per month for 10 months) you then just need to borrow $8,000 instead of borrowing the full $10,000. The reduced loan amount will reduce your future interest charges and your future monthly loan payments.

Borrowers are free to select any loan or lender from the many lenders and loan products currently available. For your convenience, we have listed several loans and lenders on this website for your review and consideration. Many of our current and former students and parents have borrowed from the listed lenders.

Applying and electronically signing a loan application online is the fastest and most convenient way to borrow an education loan. You receive an instant pre-approval notice and you can sign the form immediately. You do not need to mail anything. If you do not sign the form electronically, be sure to follow up on your pre-approval and provide the required forms so your loan may be processed by the College.

With each of the loans described in this section, the maximum loan amount is the cost of education less estimated financial aid (including Direct loans). Each loan requires that Hampshire’s loan counselor certify the loan amount and the enrollment of the student. Each loan also requires the student to be making satisfactory academic progress according to Hampshire’s guidelines.

Realize that lenders, servicers, guarantors, and loan holders may change their loan fees, benefits, terms, margins over the index, the interest index, and other loan-related criteria at any time.