FY2027 Private/Alternative Lenders for Student Loans

The University of Massachusetts is requesting proposals from multiple qualified lending institutions to provide private and alternative student loans for enrolled and qualified students across its Amherst, Boston, Dartmouth, and Lowell campuses for the 2026-2027 processing year. The selected lenders will be responsible for the entire loan lifecycle, including application qualification, award notification, loan administration, payment collection, and disbursement to the appropriate campus bursar. Awarded lenders will have their direct loan service web links listed on campus websites and potentially a national Service Agent Website (SAW), such as ELM SELECT, to facilitate financial aid services. These links must enable borrowers to browse loan options, select programs, and complete applications online. Lenders must ensure full compliance with accessibility standards, including WCAG A and AA, and Section 504 of the Rehabilitation Act. The University reserves the right to award contracts to multiple vendors or a single vendor based on best value, considering loan program requirements, lender background and history, market recognition, borrower services, and program affiliations.