Financing & Payment Options

There are several options available for paying the remaining out-of-pocket costs not covered by financial assistance in the student's award package. These options are as follows:

• Traditional method of three payments per academic year. Tuition bills are typically mailed in early August (Fall term), early November (Winter term) and early February (Spring term).

• Utilize the TuitionPay monthly payment plan
  Sallie Mae offers TuitionPay which allows families to pay yearly education expenses out of current income through regularly scheduled monthly payments. Plans of 10, 11 or 12 months are available. An informational brochure on this program will be mailed to all incoming first-year and transfer students upon receipt of their tuition deposit. A nominal annual fee is charged for using this service. For further information, contact TuitionPay at (800) 635-0120 or visit the interactive web site at: www.TuitionPayEnroll.com.

• Parent Loans for Undergraduate Students (PLUS)
  The Federal PLUS loan program enables parents with good credit histories to borrow all or part of the student's yearly educational expenses. At Augustana, parents choose a lender through which they wish to borrow and submit the PLUS loan application to the Office of Financial Assistance. PLUS loan applications can be obtained from the lender or by calling the Office of Financial Assistance. You may also apply online by visiting the Loan Application page in the "Loans" section. Parents may also choose to pay yearly expenses using a combination of PLUS loan and the TuitionPay monthly payment plan or cash payments. For more information on the PLUS loan, visit: www.studentaid.ed.gov.

• Alternative loans for students
  Private loans are available to students who meet credit criteria and, in most cases, have a credit-worthy co-signer. These loans supplement the Federal Stafford and/or PLUS loans. Interest rates are variable. Interest accrues while the student is enrolled with repayment beginning 6 months after graduation.   Apply at Loan Application in the "Loans" section.