Financial Aid Facts
In early July you will receive a student billing statement for Semester I from the Office of Student Accounts. 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 Student Accounts.
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 https://www.afford.com/anderson/ or call (800)722-4867.
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, 2015.
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 https://www.afford.com/anderson/ or by calling TMS at (800) 722-4867. Your first payment will be due July 1, 2015. Under the ten month payment plan your first payment will be due August 1, 2015.
Option 3 — Federal Direct 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 7.9 percent. The loan is repaid over a 10-year period with payments beginning after the loan has been disbursed although deferment options are available. Apply online at Processing.
Option 4 — Private (non-federal Student Loan).
The interest rates and fees on private student loans may be different than the students' Federal Direct Loan or the Parent's Federal Direct PLUS Loan so you should consider borrowing under these programs before you consider borrowing a private student loan. The lender usually will require you to have a credit worthy co-signer before approving your loan. Additional information can be found on the Student Financial Services website at Processing.
Be prepared to purchase 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 $600. You may charge to your account the cost of your books and supplies purchased at the AU Campus Store during the first two weeks of school.
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 firstname.lastname@example.org.