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Your Expected Family Contribution (EFC) is an estimate of your capacity over time to absorb some of the cost of your education. It does not necessarily predict how much cash your family has on hand.

To obtain additional resources beyond scholarships and need-based grants and loans, most families use a combination of interest-free monthly payments, Federal Direct PLUS Loans 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 Nelnet Campus Commerce, a Rhode Island company that works with colleges and universities nationwide.

For more information, call Nelnet at 1-800-609-8056 or visit the Nelnet website.

Types of Loans

The Federal Direct PLUS Loan is a Parent Loan for Undergraduate Students reserved for the parent of a dependent, undergraduate student.  The lender is the federal government.  The interest rate and origination fee is reset each July 1st for the upcoming academic year.  The Federal Direct PLUS Loan fact sheet, instructions and application can be found on our Forms and Resources webpage.  During the 2019-2020 academic year, 140 Federal Direct PLUS Loans were borrowed with an average loan of $17,758.

The MEFA Undergraduate Loan is offered through the Massachusetts Educational Financing Authority.  MEFA is a non-profit state agency that lends private educational loans to credit worthy undergraduate students and their parents.  For more information about the MEFA Undergraduate Loan, please visit their website or call 1.800.449.6332.  During the 2019-2020 academic year, 106 MEFA Undergraduate Loans were borrowed with an average loan of $16,616.

The Citizens Bank Student Loan offers competitive interest rates, flexible terms and repayment discounts.  They also offer multi-year approval for qualified borrowers.  For more information about the Citizens Bank Student Loan, please visit their website or call 1.800.708.6684.  During the 2019-2020 academic year, 45 Citizens Bank Student Loans were borrowed with an average loan of $18,198.

The Sallie Mae Smart Option Student Loan offers multiple repayment options and an interest rate reduction when monthly payments are made via auto debit.  For more information on the Sallie Mae Smart Option Student Loan, please visit their website or call 1.877.279.7172.  During the 2019-2020 academic year, 103 were borrowed with an average loan of $17,200.

Other lenders self selected by our students & families

  • Credit Union Student Choice Loan
  • Discover Loan
  • First Marblehead Alternative Loan
  • The Maine Loan
  • New Jersey Class Higher Education Loan
  • Rhode Island Alternative Loan
  • Wells Fargo Collegiate Loan

*Clark University has compiled this list based on terms, conditions and provisions that are favorable to borrower.  This includes payment of the origination fee by the lender, highly competitive interest rates, high quality servicing and flexible repayment options/benefits.  Students attending Clark Universities or their families are not required to borrow from a lender on this list.

Contact Information

Office of Financial Assistance

Mailing Address
  • Clark University
    Office of Financial Assistance
    950 Main Street
    Worcester, MA 01610
  • 1-508-793-7478
  • 1-508-793-8802 FAX
  • finaid[at]clarku[dot]edu
  • Office Hours: Monday - Friday, 8:30 a.m. - 5:00 p.m.