Office of Financial Aid
(607) 735-1728
finaid@elmira.edu
Payment Options & Loans
Options for Payment
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TMS Monthly Payment Plan
This no-interest plan is a convenient alternative to lump-sum term payments. This allows you to budget your payments over a ten month period, June through March.
Application and information: www.afford.com/elmira
Elmira College Payment Plan
Participants divide each term invoice into four equal monthly payments to be paid by the 1st of each month. The Fall Term invoice is paid July-October; the Winter Term invoice is paid November-February. You can sign up for this plan by calling the Business Office at (607) 735-1760. Participants will incur a monthly carrying fee of 1.5%.
Participants divide each term invoice into four equal monthly payments to be paid by the 1st of each month. The Fall Term invoice is paid July-October; the Winter Term invoice is paid November-February. You can sign up for this plan by calling the Business Office at (607) 735-1760. Participants will incur a monthly carrying fee of 1.5%.
Credit Card Payment Plan
Participants authorize a recurring amount charged to a MasterCard or Visa on the first day of each month. Authorization forms can be obtained from the Business Office by calling (607) 735-1760. Participants will incur a monthly carrying fee of 1.5%.
Participants authorize a recurring amount charged to a MasterCard or Visa on the first day of each month. Authorization forms can be obtained from the Business Office by calling (607) 735-1760. Participants will incur a monthly carrying fee of 1.5%.
Federal Stafford Loans
These loans for undergraduate or graduate students are guaranteed by the U.S. Department of Education. You must be enrolled at least half time and in a program leading to a degree or certificate.
These loans for undergraduate or graduate students are guaranteed by the U.S. Department of Education. You must be enrolled at least half time and in a program leading to a degree or certificate.
For both the Subsidized and Unsubsidized Federal Stafford Loans,
there are no payments due while you are enrolled at least half time
and for six months after you leave college. The typical payment
period is ten years.
Stafford Loan limits are: Freshmen $3500, Sophomores
$4500, Juniors $5500, Seniors $5500.
In addition to the above limits, students are also eligible for
$2,000 Unsubsidized Stafford Loan.
Prior to borrowing your first Stafford Loan you are required to complete a Stafford Loan Master Promissory Note and Stafford Loan Entrance Counseling. New students entering Elmira College for the Fall Term will be mailed Stafford Loan information in June.
Prior to borrowing your first Stafford Loan you are required to complete a Stafford Loan Master Promissory Note and Stafford Loan Entrance Counseling. New students entering Elmira College for the Fall Term will be mailed Stafford Loan information in June.
Subsidized Stafford Loan
If you are awarded a subsidized loan, the U.S. Department of Education pays the interest while you are enrolled in college at least half time, for the first six months after you leave college, and during deferment periods. The amount of your subsidized loan can not exceed your financial need.
If you are awarded a subsidized loan, the U.S. Department of Education pays the interest while you are enrolled in college at least half time, for the first six months after you leave college, and during deferment periods. The amount of your subsidized loan can not exceed your financial need.
Unsubsidized Stafford Loan
If you are awarded an unsubsidized loan, you are responsible for the interest from the time the loan is disbursed to you until it is paid in full. The government does not pay your interest.
If you are awarded an unsubsidized loan, you are responsible for the interest from the time the loan is disbursed to you until it is paid in full. The government does not pay your interest.
Federal Perkins Loan
This loan is awarded by the College based on financial need. No interest accrues and no payments are due while you are enrolled at least half time and for nine months after you leave college.
This loan is awarded by the College based on financial need. No interest accrues and no payments are due while you are enrolled at least half time and for nine months after you leave college.
Federal PLUS Loan
Parents can take out these loans for their dependent undergraduate children who are enrolled at least half time in a program leading to a degree or certificate. PLUS loans are guaranteed through the U.S. Department of Education. The borrower can not have an adverse credit history*. Typically, monthly payments on the PLUS Loan begin 60 days after the loan is fully disbursed to the college; however PLUS Loans disbursed after July 1, 2008 may be deferred until 6 months after your student is no longer enrolled at least half time in college. This deferment is not automatic. You must request a deferment from your bank. The typical repayment period is ten years.
You must complete a PLUS Master Promissory Note for each child you wish to borrow for prior to your first loan. In addition, Elmira College requires the PLUS Loan Amount Request Form to be completed each time a loan is requested.
2009-2010 PLUS Loan Amount Request Form
*If you are denied the PLUS Loan due to your credit history, your student may be eligible to borrow an Unsubsidized Stafford Loan. Contact the Office of Financial Aid for additional information.
Parents can take out these loans for their dependent undergraduate children who are enrolled at least half time in a program leading to a degree or certificate. PLUS loans are guaranteed through the U.S. Department of Education. The borrower can not have an adverse credit history*. Typically, monthly payments on the PLUS Loan begin 60 days after the loan is fully disbursed to the college; however PLUS Loans disbursed after July 1, 2008 may be deferred until 6 months after your student is no longer enrolled at least half time in college. This deferment is not automatic. You must request a deferment from your bank. The typical repayment period is ten years.
You must complete a PLUS Master Promissory Note for each child you wish to borrow for prior to your first loan. In addition, Elmira College requires the PLUS Loan Amount Request Form to be completed each time a loan is requested.
2009-2010 PLUS Loan Amount Request Form
*If you are denied the PLUS Loan due to your credit history, your student may be eligible to borrow an Unsubsidized Stafford Loan. Contact the Office of Financial Aid for additional information.
Alternative or Private Loans
When financial assistance is needed above traditional funding sources, such as scholarships, grants, federal student loans and the Federal Parent Loan (PLUS), alternative loans can help cover the difference. These loans are most often in the student’s name but a credit worthy co-signer is almost always required. Interest does accrue even while you are enrolled in college and the rate is usually variable each quarter. Most lenders do not require payments while the student is in college at least half time. Alternative loans tend to cost more than the loans offered by the U.S. Department of Education.
When financial assistance is needed above traditional funding sources, such as scholarships, grants, federal student loans and the Federal Parent Loan (PLUS), alternative loans can help cover the difference. These loans are most often in the student’s name but a credit worthy co-signer is almost always required. Interest does accrue even while you are enrolled in college and the rate is usually variable each quarter. Most lenders do not require payments while the student is in college at least half time. Alternative loans tend to cost more than the loans offered by the U.S. Department of Education.
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