Alternative Loans

BEFORE applying for an Alternative Loan, please note:

Alternative Loan Lenders

The University of Maryland, Baltimore County has partnered with ELM to provide a neutral listing of some alternative loan options that may be available to students. By clicking the link below, students will be taken to the ELM website where they can search through many lenders which partner with ELM. There are many lending institutions so students and parents should carefully research multiple options and choose the lender that best meets their individual financial needs. Borrowers may also choose lenders that are not listed on the ELM website. Please note that the listing of alternative loan options on the ELM website is not comprehensive and the University does not endorse any specific lender or group of lenders.

Alternative Loan Search

After the student has completed their application, the loan request will:

  • be sent electronically from the lender to our loan data provider, ELM, and
  • we will receive the loan request and certify the student's loan eligibility on ELM within our current processing timeframe (usually three to four weeks), and
  • ELM will send notification to the student's lender that the loan request has been certified, and
  • the lender will schedule the electronic funds transfer (EFT) directly to UMBC
  • Please monitor and respond quickly to any school or lender requests

Self-Certification and Cost of Attendance (COA)

Loan Application Deadlines

Application Priority Processing Dates

The loan application must be on file with our office by these dates in order for the loan funds to be available for the first billing due date.

Priority Processing
Summer 15 Fall 15 Only Fall 15/ Spring 16 Spring 16 Only Summer 16
MPN and Entrance Counseling received by the following dates: April 12, 2015 June 26, 2015 June 26, 2015 Dec. 11, 2015 April 15, 2016

Final Application Deadline Dates

Loan applications submitted after the priority deadline dates will be processed throughout the semester; however, MPNs and Entrance Counseling received after the following deadline dates cannot be processed.

Final Deadlines
Summer 15 Fall 15 Only Fall 15/ Spring 16 Spring 16 Only Summer 16
Last day to submit a MPN and Entrance Counseling: June 26, 2015 Dec. 11, 2015 May 1, 2016 May 1, 2016 June 24, 2016

Application Priority Processing Dates

The loan application should be received in our office by these dates in order for the loan funds to be available for the first billing due date.

Priority Processing
Summer 14 Fall 14 Only Fall 14/ Spring 15 Spring 15 Only Summer 15
MPN and Entrance Counseling received by the following dates: April 18, 2014 June 27, 2014 June 27, 2014 Dec. 12, 2014 April 12, 2015

Final Application Deadline Dates

Loan applications submitted after the priority deadline dates will be processed throughout the semester; however, MPNs and Entrance Counseling received after the following deadline dates cannot be processed.

Final Deadlines
Summer 14 Fall 14 Only Fall 14/ Spring 15 Spring 15 Only Summer 15
Last day to submit a MPN and Entrance Counseling: June 27, 2014 Dec. 12, 2014 May 1, 2015 May 1, 2015 June 26, 2015

Reduce or Cancel an Alternative Loan

Students who would like to reduce or cancel an Alternative Loan should contact their lender to make the adjustment then follow up with their assigned financial aid counselor.