To obtain additional resources beyond scholarships and grants, most families use a combination of interest-free monthly payments and/or private loans.
Interest-free monthly payment option
The best way to limit debt is to consider the interest-free monthly payment option that is offered to Clark families through Tuition Management Systems (TMS).
Private educational loans
If the monthly payment plan is not a viable option for your family, you could consider a private educational loan program.
However, we strongly encourage families to consider all the ways to pay for an education before applying for any private alternative loan.
We recommend that you use the Borrow Smart tool, which encourages a combination strategy: drawing from a combination of resources to limit debt while keeping your monthly payments affordable.
In addition, keep these points in mind:
- International students are not able to borrow on their own. They must have a co-borrower: a credit-worthy U.S. citizen who meets the loan program’s requirements.
- Interest rates and fees vary from program to program, often based on the borrower's credit history. Interest rates are not always fixed.
- The maximum loan amount that you can borrow each year is up to the total cost of your attendance minus your financial aid award or merit scholarship.
Private loan programs reviewed by Clark University
Each year, Clark University reviews loan providers and their products, including interest rates, repayment options, borrower benefits and customer service. Based on our review, we provide a loan comparison chart.
Our reviewed programs include:
Citizens Bank Student Loan
- School-certified, no-fee private loan option for undergraduate and graduate students.
- Clark university has 10 years of experience with this loan product.
- Select either an immediate, interest-only or deferred-payment option.
- For more information, visit the Citizens Bank Student Loan website, or call 1-800-708-6684.
Sallie Mae Smart Option Student Loan
- No-fee private loan program funded by Sallie Mae.
- Clark university has 20 years of experience with this loan product.
- Offers a deferred repayment, interest only or immediate repayment option, as well as a $25-a-month fixed payment while enrolled.
- For more information, visit the Sallie Mae Smart Option website, or call 1-877-279-7172.
Wells Fargo Collegiate Loan
- For undergraduate and graduate students attending school full time, half time and less than half time.
- Standard repayment terms are 15 years. Both payment and interest are deferred. You make no payments while in school, although interest will begin to accrue while you are in school.
- For additional information, visit the Wells Fargo Collegiate website.
Additional private loan programs
You and your family are encouraged to research loans to find a product that best meets your needs. The university will process a loan from any lender or agency.