• Usually offered by colleges and private agencies
• College-sponsored plans usually have low or no fees
• Beneficial for financing small balances, managing cash flow, or using in combination with other financing options
• Possibly no interest charges

• Private agency fees or high interest
• Repayment period usually limited to college term or year, so installment payments can be high
• No loan forgiveness in the event of death or total disability unless borrower purchases option

Please visit: www.afford.com or www.tuitionpay.com

• Parents of dependent undergraduates can borrow up to the cost of attendance, less other financial aid
• Fixed interest rate at 7.9%
• 1.5% Fee rebate
• Repayment period of up to 10 years
• Loan forgiveness in the case of death or total disability
• Deferment and forbearance options including while student is in school
• Minimal credit check
• Interest paid may be tax deductible

• Borrowers with poor credit may be turned down for a loan
• Origination fee of 4.00%
• Deferment and forbearance options will lead to interest capitalization

Master Promissory Note

• Students can borrow up to the cost of attendance less other financial
• Co-signer allowed if student’s credit record is not acceptable
• Interest paid on loan may be tax deductible
• Payment deferred while in school

• Credit requirements, loan fees, interest rates and loan amounts vary
• Interest accrual may begin immediately after disbursement
• No loan forgiveness in the event of death or total disability, unless borrower purchases option
• Variable interest rates with no or very high caps that can adjust as frequently as monthly

Alternative Private Loans

• Both variable and fixed interest rates available
• Readily available assuming the home has equity
• Interest is typically tax deductible
• Long repayment period makes monthly payment lower

• No forgiveness of the loan in the event of death or disability unless borrower purchases option
• Loan amount is dependent on amount of equity in home
• Closing costs or other fees
• Home is collateral for the loan
• Repayment begins immediately
• Long repayment period makes total interest paid higher

• Some credit cards have incentive programs
• Low minimum monthly payments and long repayment periods
• Best used for short term cash flow purposes
• Some credit cards have incentive programs
• Low minimum monthly payments and long repayment periods
• Best used for short term cash flow purposes

• Cards that earn incentive points usually have an annual fee
• Processing fees for advance payments; interest rates can be high
• No loan forgiveness in the event of death or total disability unless borrower purchases option