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.
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 $55. 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 bucknell.afford.com/. (Non-US citizens may apply for the payment 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 grant or 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. Learn more at www.bucknell.edu/TuitionPrepaymentPlan or contact Bursar Services at email@example.com or 570.577.3733.
This is a non-need-based, credit-worthy loan with a 6.31% 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.
In addition to the options above, you and your parents may wish to pursue the possibility of a home equity loan, credit union financing, or other avenues that may be open to you. We strongly recommend borrowing federal loans first, but you may also want to consider private educational loans. Keep in mind that the interest rates for private student educational loans can vary depending upon your credit. If you do consider private loans, please be aware that different loans have different terms and conditions, interest rates (fixed or variable), etc. You also may want to check with your state to see if any state educational loan programs are possible for you. Other issues you may want to research may include:
If you wish to apply for a private educational loan, we suggest that you apply after May 15, as most credit checks are only good for a limited period of time.
We are not able to recommend specific lenders to you. However, please let us know if you have questions, and we can try to assist you in your research.
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