Payment Options

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:

Payment Plan 

This interest-free monthly plan allows families to spread all or part of the academic year's expenses over ten equal monthly payments beginning in June. Participation in the plan requires an annual $75 non-refundable fee. For more information about the plan, contact Tuition Management Systems by:

• Calling: 800-722-4867
• E-mailing: tmsserv@afford.com
• Or visit: www.afford.com/sjcme

Federal Direct Parent (PLUS) Loan

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.dlenote.ed.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.

2) If the application is approved, the parent must complete the Master Promissory Note.

3) Complete the Federal Parent Loan Request Form for Saint Joseph's College. 

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 Steps 1 and 3.

Private Education Loans

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.

Questions to ask the lender before you apply for a private loan:

1. Can the loan be used to pay for prior balances?
2. Is there a minimum amount I have to borrow?
3. Are interest payments required while I’m in school?
4. What is the interest rate and is it fixed?
5. What are the repayment terms?

How to Apply

1. Initiate the application process by choosing a lender and contacting them directly to begin the pre-approval process.
2. Your lender will perform a credit review. If approved, your lender will mail you a pre-printed promissory note that you will need to complete and return to your lender. Most students require a co-signer.
3. Complete the Private Education Loan Applicant Self-Certification form and return it to the lender.
4. Once we have received notification from your lender that you have returned your completed promissory note and self-certification, we will certify your loan as long as you are admitted to a degree program and have enrolled at least half-time.
5. Once your lender has received all necessary information from you and our office, you will be sent additional disclosures from your lender. Once all requirements are met, your lender will send your loan funds to the Bursar’s Office according the disbursement schedule we have approved.