Financial Aid Facts
In early July you will receive a student billing statement for Semester I from the Office of Student Financial Services. It will show the amount due after subtracting financial aid from tuition, room, board, and other charges. To determine this amount now, complete the payment planning worksheet that came with your financial aid award. Details on managing your student account can also be found at www.anderson.edu/finaid/.
In order to complete your payment arrangements with Anderson University, you need to choose from the following options. If you are considering option two or three, Tuition Management Systems (TMS), can calculate for you the optimal combination of PLUS loan borrowing and payment plan financing for your family budget. For your free analysis, go online to www.afford.com, or call 1-800-722-4876.
Option 1 — Direct payment in full to Anderson University.
If you choose this option, the amount shown as due on the student billing statement is to be paid directly to Anderson University by July 25.Option 2 — Enroll in a payment plan.
Anderson University has made arrangements through TMS to provide an interest-free monthly payment plan. You may have already received an enrollment packet from TMS or you can enroll online at www.afford.com or by calling TMS at (800) 722-4867. Your first payment will be due July 1.Option 3 — Federal PLUS loan.
Credit-worthy parents of dependent students are eligible to borrow funds equal to the cost of education less other financial aid. The interest rate is fixed at 8.5 percent. The loan is repaid over a 10-year period with payments beginning after the loan has been disbursed. Apply online at www.anderson.edu/finaid/processing.html, or call Nelnet College Planning at 866-866-7372. A one percent interest rate reduction in your PLUS loan is available through our preferred PLUS loan lender, College Bound Loans.Option 4 — Private (non-federal Student Loan).
The interest rates and fees on private student loans will be higher than the Federal Stafford or PLUS Loans so you should borrow under these programs before you consider borrowing a private student loan. The lender usually will require you to have a credit worth co-signer before approving your loan. We would recommend the Academic Preferred undergraduate Loan offered through our preferred lender, Nelnet. To find out if you qualify call Nelnet College Planning at 866-866-7372. For names and applications of additional lenders contact the Office of Student Financial Services.Nelnet College Planning
Anderson University has partnered with Nelnet College Planning to provide you with access to expert counselors prepared to provide you with options on how to finance your college education. This free service is available to you 24 hours a day through College Planning's 866-866-7372 toll free number. Nelnet College Planning will be able to determine of the PLUS Loan is the right option for your parents and you can also learn about additional student loan option, including Nelnet's Academic Preferred Loan.You should be prepared to purchase your books and supplies when you arrive on campus using a personal check or credit card. The estimated average cost of books and supplies per semester is $450. You may charge to your account the cost of your books and supplies purchased at the University Bookstore during the first two weeks of school.
Semester costs for 2007-2008:
- Tuition (12-17 hrs.)
$10,960 per semester - Room (semi-private)
$2,430 per semester - Basic Meal Plan
$1,370 per semester
Please contact the Office of Student Financial Services if you need help determining your financial obligation to AU or if you need assistance in choosing one of the financing options. You can reach us at (800) 421-1026 or (765) 641-4180 or at boheider@anderson.edu.
