FEDERAL DIRECT PARENT PLUS LOAN

Offered to the parent of a dependent student, so they may bridge the gap between a student’s financial aid eligibility and their total cost of attendance. Interest rates are fixed at 8.05% for loans disbursed on or after July 1, 2023. Parents are required to complete a separate loan application that requires a credit check. This loan is not based on financial need and can cover up to the student’s entire cost of attendance. Interest does accrue while the student is in school. Repayment begins after the loan has been fully disbursed. Parents do have the option to defer repayment while the student remains in school, however, they must contact their loan servicer and request a deferment once the loan has entered repayment. Parents should email the Financial Aid Office if interested in this option.

ALTERNATIVE STUDENT LOAN

A loan designed to help students meet their college costs after all other types of aid have been awarded. Several lenders offer students the opportunity to borrow loan funds; however, a credit-worthy co-signer is usually required. Cosigners can be parents, relatives, family friends, etc. The lender determines the interest rate. Students can apply for a fixed or variable interest rate when completing the loan application. Interest will begin accruing at the time of disbursement. Students can choose to begin repayment after graduation or immediately. 

NELNET MONTHLY PAYMENT PLAN

A tuition payment plan is offered to U.S. citizens or permanent residents who would like to finance their education throughout the academic year. The student's remaining annual balance is divided into 10 monthly payments (5 payments per term) over the academic year. Payments are due on the 15th of each month starting in July and ending in April. There is an $85 annual set-up fee that is due upon enrolling in the monthly payment plan. Click here to learn more.

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