Alternative Loans

Amount to Borrow

Students and parents may borrow private loans to cover their entire cost of attendance (less any other aid received). A student's cost of attendance includes tuition and fees, as well as living and personal expenses. Please review our comprehensive list of attendance costs to calculate how much is required to send a student to Berklee. These costs are indicative of one year of attendance at Berklee and are subject to change each academic year.

Once you have determined a student's cost of attendance, subtract any other aid the student will be receiving, including all federal, state, private, and institutional grants, loans, and scholarships. The amount left over is the maximum that you can borrow for an academic year. To keep your debt as low as possible, it is highly advised to only borrow for what you need; do not borrow the maximum unless you absolutely must do so.

Parent Loans

  • Federal Direct PLUS Loan for Parents: Parents of dependent students (as determined by the FAFSA) have the opportunity to apply for a Federal Parent Loan for Undergraduate Students (PLUS). The PLUS program is a non-need-based federal loan program that offers a fixed interest rate. To apply for this loan, eligible parents must complete a Federal Direct PLUS Loan for Parents application on using his or her FAFSA PIN to sign in.

  • MEFA: The Massachusetts Educational Financing Authority (MEFA) offers parent loans with a fixed interest rate as well. More information regarding eligibility, loan terms, repayment options, and application instructions can be found at

Private Student Loans

For students and parents who need financing beyond what is available through the federal loan programs, we offer the recommendations listed in our Loan Guideor you may go to and select Berklee from the menu. While we are pleased to offer you this list of reputable lenders and the loans offered by such, you are in no way limited to those on this list. Berklee will process an alternative or supplemental loan from any lender and it is your right to apply for loans through the lender of your choice.

Neither Berklee nor the Office of Financial Aid will recommend one specific lender. It is your responsibility as the loan borrower to compare loan options available to you and determine which loan will best fit both your short-term and long-term financial needs.