Other Financing Options
The college offers several other options for financing an Agnes Scott education. These programs are designed to help a student’s family manage their resources in ways that will enable them to make their expected family contribution toward college costs.
Federal Parent Loan for Undergraduate Students (PLUS)
Parents (and stepparents) of dependent undergraduate students attending school at least half time are eligible to apply for a Federal PLUS loan. Borrowers must be U.S. citizens or eligible noncitizens. Loan approval is subject to the credit criteria established by the U.S. Department of Education. Submitting the FAFSA is required before a PLUS application may be processed. The interest rate for the PLUS loan is 7.9% for 2012-13, and parents can borrow up to the student's cost of attendance less other financial assistance. Parents can apply for the PLUS loan at www.studentloans.gov
or by completing a Federal PLUS loan application
and returning it to the Office of Financial Aid.
Private, credit-based student loan
A private, credit-based alternative loan may be available to students who need funding for remaining college costs. There are various lenders for student borrowers which require no payments while the student remains in school. These loans are more expensive than federally guaranteed loans and should only be used when all other options are exhausted. Alternative loans are typically in the student's name and usually require a cosigner. Agnes Scott has a list of frequently used lenders at www.elmselect.com
to help students choose a loan. These lenders were selected because their loan terms and conditions are generally favorable to the borrower and because they have a good record of customer service with our students. However, students wishing to borrow an alternative loan are not required to use a lender from this list.
Code of Conduct
Sample Alternative Loan Disclosure Statement
Sample Loan Approval Disclosure
Application and Solicitation Sample Disclosure
10-month payment plan
To help you afford education expenses, Agnes Scott College is pleased to make the services of Tuition Management Systems available to you and your family. Tuition Management Systems’ Interest-Free Monthly Payment Option allows you to spread your education expenses over smaller monthly installments for only a small enrollment fee. There is no interest and no pre-qualification or credit check for this service. With this payment plan you have 24-hour access to account information through Tuition Management Systems’ website, toll-free automated account information, and personal account service Monday through Saturday. Education Payment Partners are available to help you determine the best payment option for your education costs.
This is a popular option with many of our families because it reduces the need to borrow and it gives families more control over their savings. Tuition Management Systems’ services have helped over two million students at more than a thousand schools nationwide afford education.
For more information on your specific payment options or to enroll in the Interest-Free Monthly Payment Plan, visit Tuition Management Systems’ website at http://www.afford.com/agnesscott
or call 1.800.722.4867 and speak with an Education Payment Partner.
Tuition Exchange, Inc.
The college participates in Tuition Exchange, Inc. For more details, please visit www.tuitionexchange.org
or contact Agnes Scott’s ﬁnancial aid ofﬁce.
Presbyterian Tuition Exchange
The Association of Presbyterian Colleges and Universities offers a Tuition Exchange program for employees of participating schools and their dependents. For more details and a list of eligible institutions, please visit www.presbyteriancolleges.org/tuitionexchange.htm
or contact Agnes Scott's financial aid office.