Loan Programs, Financing & Borrowing Wisely
Families are encouraged to learn about financing options and make informed financial decisions. In addition to Grants and Scholarships, financing options available to families include:
Installment Payment Plan (IPP)
Federal Direct and Federal Perkins Loans
Brown University Institutional Loans
Eligibility is determined by the Financial Aid Offices.
Undergraduate Students: Contact the Office of Financial Aid and review Educational Financing.
Graduate Students: Contact the Office of Financial Aid and review the Graduate Overview.
Medical Students: Contact the Alpert Medical School (AMS) Office of Financial Aid.
If loans are part of your plan, you'll want to borrow wisely to keep your loan debt as low as possible. Here's how:
- Assess your needs before you borrow - You aren't required to accept the full amount of any loan that is offered.
- Compare the loans you've been offered - Choose the loans with the lowest interest rates and best borrower benefits, such as: deferment, forbearance, and forgiveness options. See our Helpful Tips for Loan Borrowers.
- Pay attention while completing loan requirements - If you decide to borrow loans, you'll need to complete entrance counseling and a promissory note. These loan requirements provide you with details about the grace period, interest rate, and repayment details.
- Reduce your refund - If you have borrowed loans and your student account has a credit balance (overpaid), think about reducing the amount you've borrowed. If you don't need the full amount, send a detailed email to email@example.com to reduce your loans and lower your student loan debt. If you actually need the full amount, request an electronic student account refund through the Bursar's Office.