College Loan

The College Loan (CL) is a loan award students receive based on eligibility requirements determined by the Financial Services Office. Upon graduation, withdrawal or ceasing to be a half time student the loan will be separated and put into grace with a 9 month grace period. The loan has a 5% interest rate and does not have a prepayment penalty. Late charges on this loan will not exceed 20% of the monthly payment amount. Throughout the life of the loan a borrower is able to process up to six (6) years of deferments (forbearance and economic hardships). The maximum payback period is ten (10) years with a minimum monthly payment of $50.00 plus interest per month.

Documents that are required to be completed by first time borrowers before the Loan is disbursed to the student account:

• Master Promissory Note (MPN) –This is for first time borrowers and can be completed electronically via ACS Education Service website. This outlines you rights and responsibilities under the loan program. Your MPN is valid for 10years.

The link to sign your MPN online is available here .

• Entrance Counseling - This is for first time borrowers and can be completed electronically via Financial Counselor. This is a tutorial on the importance of student loans and awareness of student loan debt.

The link to complete your Entrance Counseling is here .

• Annual Disclosure Statement - The student is required to sign and return this form to the Office of the Bursar. This statement outlines any prior disbursements from the loan program, discloses interest rates, grace period and late fees. This form is mailed in the original loan package sent to your home address.
• Annual Truth In Lending (T.I.L.A.) – These forms can be completed electronically via the ACS Education Services website. Completion and confirmation of documents are required for disbursement.

The link to complete the T.I.L.A. can be found here .

Loan Exit Counseling:

The Loan Exit Counseling is designed to ensure that you understand you rights and obligations as a student loan borrower. The session outlines the repayment provisions, grace periods, deferment options and rights and responsibilities of a loan borrower.

The Exit Counseling session can be completed here .

An in-person Exit Counseling session can be scheduled with the Office of the Bursar upon request.

The Exit Interview is a Suffolk University requirement and failure to complete it could result in a hold on your official transcript, diploma and academic records.

Incentive Loan

The Incentive Loan (TIL) is a loan award students receive based on eligibility requirements determined by the Student Financial Services Office. This loan is forgiven in full when/if the borrower graduates from Suffolk University. If the borrower leaves Suffolk for any reason the loan will be separated and put into grace with a 9 month grace period. The loan has an 8% interest rate and does not have a prepayment penalty. A late charge of 5% of the outstanding payment will be charged if payment is not made on the scheduled due date. Throughout the life of the loan a borrower is able to process up to six (6) years of deferments (forbearance and economic hardships). The maximum payback period is ten (10) years with a minimum monthly payment of $50.00 plus interest per month.

Please Note this program is being phased out and no new awards are being offered at this time by the Student Financial Services Office.

Documents that are required to be completed by first time borrowers before the Loan is disbursed to the student account:

• Master Promissory Note (MPN) –This is for first time borrowers and can be completed electronically via ACS Education Service website. This outlines you rights and responsibilities under the loan program. Your MPN is valid for 10years.

The link to sign your MPN online is available here .

• Entrance Counseling - This is for first time borrowers and can be completed electronically via Financial Counselor. This is a tutorial on the importance of student loans and awareness of student loan debt.

The link to complete your Entrance Counseling is here .

• Annual Disclosure Statement - The student is required to sign and return this form to the Office of the Bursar. This statement outlines any prior disbursements from the loan program, discloses interest rates, grace period and late fees. This form is mailed in the original loan package sent to your home address.
• Annual Truth In Lending (T.I.L.A.) – These forms can be completed electronically via the ACS Education Services website. Completion and confirmation of documents are required for disbursement.

The link to complete the T.I.L.A. can be found here .

Loan Exit Counseling :

The Loan Exit Counseling is designed to ensure that you understand you rights and obligations as a student loan borrower. The session outlines the repayment provisions, grace periods, deferment options and rights and responsibilities of a loan borrower.

The Exit Counseling session can be completed here .

An in-person Exit Counseling session can be scheduled with the Office of the Bursar upon request.

The Exit Interview is a Suffolk University requirement and failure to complete it could result in a hold on your official transcript, diploma and academic records.

Trustee Loan

The Trustee Loan (TSLL) is a loan award law students receive based on eligibility requirements determined by the Law Financial Services Office. Upon graduation, withdrawal or ceasing to be a half time student the loan will be separated and put into grace with a 6 month grace period. The loan has a 0% interest rate and does not have a prepayment penalty. Late charges on this loan will not exceed 1% of the outstanding loan balance. Throughout the life of the loan a borrower is able to process up to six (6) years of deferments (forbearance and economic hardships). The maximum payback period is five (5) years with a minimum monthly payment to be 1/60^th of the total amount borrowed.

Documents that are required to be completed by first time borrowers before the Loan is disbursed to the student account:

• Master Promissory Note (MPN) –This is for first time borrowers and can be completed electronically via ACS Education Service website. This outlines you rights and responsibilities under the loan program. Your MPN is valid for 10years.

The link to sign your MPN online is available here .

• Entrance Counseling - This is for first time borrowers and can be completed electronically via Financial Counselor. This is a tutorial on the importance of student loans and awareness of student loan debt.

The link to complete your Entrance Counseling is here .

• Annual Disclosure Statement - The student is required to sign and return this form to the Office of the Bursar. This statement outlines any prior disbursements from the loan program, discloses interest rates, grace period and late fees. This form is mailed in the original loan package sent to your home address.
• Annual Truth In Lending (T.I.L.A.) – These forms can be completed electronically via the ACS Education Services website. Completion and confirmation of documents are required for disbursement.

The link to complete the T.I.L.A. can be found here .

Loan Exit Counseling :

The Loan Exit Counseling is designed to ensure that you understand you rights and obligations as a student loan borrower. The session outlines the repayment provisions, grace periods, deferment options and rights and responsibilities of a loan borrower.

The Exit Counseling session can be completed here .

An in-person Exit Counseling session can be scheduled with the Office of the Bursar upon request.

The Exit Interview is a Suffolk University requirement and failure to complete it could result in a hold on your official transcript, diploma and academic records.