Alternative Payment and Financing Options

• Installment Plan: The Allegheny Tuition Payment Plan administered by Tuition Management Systems (www.afford.com) is recommended to help you budget payment of your educational expenses and limit your debt. This plan provides a convenient method for paying tuition, required fees, room and board in 10 monthly installments. It is available to parents of Allegheny students, and in some instances may be made available directly to students. Application forms are available from the Financial Services Office as well as at www.afford.com. Applications are enclosed in the July mailing of bills for the Fall Semester and they should be returned with the first payment by August 1. While full-year participation is encouraged, applications are accepted for second semester if they are received before December 1. An $80 participation fee for the full year is charged and a $45 fee if paying by semester. There are no interest charges, but late payments are assessed a $35 late fee.
• Full Payment Plan: Allegheny College offers, upon request, a payment method that allows a participant (student, parent, or other party on behalf of a student) to receive a flat $500 annual discount deducted from his/her bill from all basic charges, including tuition, room, board, and Student Activities and Health Center fees, under the following conditions:

1. The bill must be paid in full for the full year by the August 3rd due date prior to the start of a new academic year.
2. The student must be enrolled on a full-time basis for the year.
3. The student must live in College housing all year.
4. The student must be a participant in a full meal plan all year.
5. The student must not have accepted any need-based financial aid, including, College, federal and state grants (Pell, SEOG, Byrd or PHEAA) and loan programs (Perkins, Parent Plus, Stafford or Alternative loans) but may only receive a merit-based scholarship from the College or other sources to be eligible. A parent or guardian's employer-provided, dependent child educational assistance grant may be applied against other charges on the bill.
6. Withdrawal from the College during or between semesters or a reduction from full-time academic status will result in forfeiture of this discount and it will become due and payable.

For further information and an application form, please contact the Financial Services Office at (800)376-7075.

Loan Options

A variety of financing options are available to students to help finance the cost of education. Allegheny College Office of Financial Aid suggests that you compare the following loans among your many choices, if additional financing is needed.

William D. Ford Direct PLUS Loan Program for Parents

• Must file a FAFSA to be eligible
• Available to parents of enrolled dependent students
• Borrower must be a U.S. citizen or permanent resident
• Parents may borrow the full cost of education less any financial aid received
• 7.9% fixed interest rate
• Interest begins to accrue on the loan from the date of the first disbursement
• Repayment begins within 60 days of full disbursement unless other arrangements have been made
• 2.5% net origination fee is automatically deducted from the disbursement of the loan
• Federally-determined independent students and dependent students whose parents do not qualify for the Federal PLUS are eligible to borrow additional unsubsidized Stafford Loans up to the following amounts: $4,000 each of the first two years, then $5,000 each year for up to three additional years of undergraduate study.
• How to apply

Alternative Student Loans

Please read our 2009-2010 Alternative Student Loan Information.

Addison H. Gibson Foundation Low-Interest Educational Loans

• Available to residents of Western PA
• Up to $12,000 (cumulative) for undergraduates
• 2% annual interest until one year after graduation
• 5% annual interest during repayment
• Principal payments deferred until one year after graduation
• Generous repayment terms
• No loan origination fees

For more information call (412) 261-1611 or visit the Education Trust Web site.