The College sends bills for each semester and while many families pay this bill in full, other families choose to use one or more of the following financing options.
This interest-free monthly plan allows families to spread all or part of the semester's expenses over five equal monthly payments beginning in June. Participation in the plan requires a non-refundable fee. For more information about the plan, contact Tuition Management Systems by:
Many of our families choose to use a federal parent loan to pay all or part of the balance remaining after financial aid. You may apply as early as May, but you will want to have your financial aid award letter first to determine the amount that you will need to borrow for the academic year. For more details about this credit-based federal program, go to www.studentloans.gov. There are three steps to apply for this federal parent loan:
1) Complete the application process at www.studentloans.gov website - the parent borrower signs in with his or her FAFSA PIN. We recommend that you apply after May 1 for the 2013-2014 academic year.
2) If the application is approved, the parent borrower must complete the Master Promissory Note.
Repeat borrowers for the same student do not need to complete a new promissory note, but must apply for the loan each year by completing Step 1.
There are also credit-based private education loans available to pay all or part of the balance remaining after financial aid. We encourage you to research your loan options carefully. You may begin the application process in May, but you will want to have your financial aid award letter first to determine the amount that you will need to borrow for the academic year.
We recommend that you apply for federal financial aid and exhaust all federal loan sources first as the terms and conditions of those loans may be more favorable than the provisions of private education loans.
If you are approved for a loan, you will be asked to complete a Self Certification Form from the lender. On this form, you will report the Cost of Attendance, total financial aid (from the award letter including any outside scholarships) and the difference between the two (the maximum loan that could be certified). Contact our office if you need help with this form.
Need some help beginning your lender search? Our families have used these lenders during the past three years. We are providing this information for your research only - we do not recommend or endorse any particular private lender. The lenders are presented in alphabetical order.
|CHESLA Loan Program|
|(student must be a resident of Connecticut)|
|Connecticut Higher Education Supplemental Loan Authority|
|Discover Student Loans|
|The Maine Loan|
|Maine Education Loan Authority|
|(student must be a resident of Massachusetts)|
|(student must be resident of NJ)|
|PNC Solution Loan|
|Rhode Island Family Education Loan|
|(student must be a resident of Rhode Island)|
|Sallie Mae SMART Option Loan|
|South Carolina Student Loan|
|(student must be resident of S.C.)|
|Student Choice Private Loan|
|(borrower must be a primary account holder at the credit union)|
|Digital Federal Credit Union|
|Custom Choice Loan by SunTrust Bank|
|Citizens Bank TruFit Student Loan|
|VSAC Loan Advantage|
|(student must be a resident of Vermont)|
|Vermont Student Assistance Corporation|
|Phone: 1-800-798-8722 or 1-802-655-4050|
|University Credit Union|
|(borrower and co-borrower must be credit union members)|
|University Credit Union|
|Wells Fargo Student Loan|
|Wells Fargo Bank|