For most families, financing a college education is second only to purchasing a home, and in some cases, college costs supersede this expense as well. We at Bucknell recognize the difficulty this investment can present for many families, even for those who have been prudent in their planning for their children's education.
Therefore, we are very pleased to bring you the financing options listed below. These are Bucknell’s recommended steps in managing the cost of education.
Bucknell Monthly Payment Plan
This plan is administered by Tuition Management Systems (TMS), and is a budget plan that divides college costs into ten consecutive monthly interest-free installments. The current application fee (subject to change) is $50. Acceptance into the plan begins in April and ends on the fall semester due date. Please be aware that the first of the ten payments is due June 1. Those who enroll in the plan after June 1 will be required to make all back payments immediately. For further information or to apply, you may contact TMS at 800-722-4867 or www.afford.com/bucknell. (Non-US citizens may apply for the payment plan.)
Bucknell Tuition Prepayment Plan
This plan offers families the option of prepaying two or more years of tuition at the current rate, thus foregoing future tuition increases. This plan is available to enrolled undergraduate students who are not receiving need-based or merit-based scholarship assistance awarded by Bucknell University. You must complete the prepayment agreement by the fall semester due date. Tuition (not room and board) is the only cost which may be prepaid through this plan. Questions and requests for the prepayment agreement should be directed to Bursar Services at firstname.lastname@example.org or 570-577-3733.
Federal Direct Parent Loan for Undergraduate Students (PLUS)
This is a non-need-based, credit-worthy loan with a 7.9% interest rate that a parent may borrow in his or her name to assist with the student's educational costs. Federal regulations require that we have a Free Application for Federal Student Aid (FAFSA) on file for your student before we may process a PLUS loan for you.
To apply for the 2012-2013 academic year, please refer to Loans for 2012-2013.
To apply for the 2013-2014 academic year, please refer to Loans for 2013-2014.
In addition to the options above, your parents may wish to pursue the possibility of a home equity loan, credit union financing, or other avenues that may be open to them. Please be aware that private education loans do exist, but their interest rates and repayment terms can vary. If you would like to research some private education loan providers on your own, you may do so. We cannot recommend specific lenders to you, but please let us know if you have questions and we can try to assist you in your research.