Other Financing Options

If your family's resources plus the financial aid award are insufficient to meet the full cost for the year, consider one or more of the following financing options:

Parent Loans

Parents of dependent students may qualify for a Federal PLUS loan.
Parents must pass a credit check that the lender will perform, and cannot be in default on an education loan or owe a refund on an education grant to qualify.
Parents may borrow up to the annual cost of attendance minus all other aid awarded to the student.
The fixed interest rate beginning July, 2006 is 8.5%.
Repayment begins 60 days after the loan is fully disbursed; however, borrowers can request a deferment while the student is enrolled at least half time. Keep in mind, Interest still accrues.
Parents can apply on-line or request a paper PLUS application from the Financial Aid Office.

Unsubsidized Stafford Loans

Available to students who do not qualify for all or part of the Stafford subsidized loan
The subsidized and unsubsidized combination cannot exceed annual loan limits.
Students who do not qualify for parent loans may borrow up to an additional $4,000 per year for the first and second years and up to $5,000 for the remaining years.
Financial need is not a requirement, but total aid may not exceed the cost of education.
Interest accrues on deferred principal payments and interest payments, so payment is strongly encouraged.
If the Financial Aid Office did not include the unsubsidized loan on your award letter, you can check with the Financial Aid Office to see if you qualify for this additional loan.

Private Alternative Loans

A student, who has exhausted all other financial aid options, may want to consider applying for an alternative educational loan.
Students enrolled at least half time are eligible, and can apply for this type of loan on their own if creditworthy. If not, a creditworthy cosigner will be required.
Students can borrow up to cost of attendance minus other aid received.
Payments are deferred as long as the student remains enrolled half time, but interest will accrue while in school.
To apply click on the following link: Apply for Private Loans

United Methodist Loan

The United Methodist Loan is available to a student who is an active, full member of The United Methodist Church for at least one year prior to application.
The annual loan maximum is $2500 for full-time students; $1250 for half-time students.
A cosigner is required.
Repayment begins no later than six months after graduation and there is a ten-year repayment period.
Interest accrues on the principal balance from the date the loan check is disbursed until loan is paid in full.
There are no prepayment penalties.
Applications are available in the Financial Aid Office.

TuitionPay from Salliemae

TuitionPay offers a 10-month payment plan.
The student budgets for any amount of the year's charges, which is divided into 10 equal installments, with no interest added.
The first payment is due June 1.
There is a $55 application fee.
Student may enter the program after June 1 by sending a check for all missed payments.
Applications are available at the Financial Aid Office or you may enroll online at www.TuitionPayEnroll.com.

University Deferment Plan

If payment in full is not possible on registration day, a one-month deferment of up to one-half the total charges may be granted.
An application and processing fee will be assessed.

Campus Employment

More than 500 students work on campus in various departments, including the library, administrative offices, and public computing centers.
Students work an average of 10 hours per week and many earn minimum wage, although there are opportunities for advancement through internships and advanced positions.
Job openings are posted on JobHoundConnect, which is managed by the Office of Career Services.

Credit Cards

VISA, MasterCard, American Express, and Discover are accepted by the university for payment of books and institutional charges.
Payments can be made by authorized users on the school website.