The billed costs, less the applicable financial aid, are the student�s financial responsibility.
There are many ways for a family to cover the costs not met by the financial aid listed on the award notice. In addition to utilizing current income and assets, the following options may be of assistance to students. The website www.collegelenderlist.com may also be of assistance.
CitiAssist Loans: Depending on creditworthiness, students (or students with creditworthy cosigners) can borrow up to the cost of education less financial aid. Flexible repayment options are offered. Loans through Citibank may be used for past-due balances. Contact them at 1-800-745-5473 for an application or apply online at www.studentloan.com.
Teri Loans: Depending on creditworthiness, parents or students can borrow up to the cost of education less financial aid. TERI Alternative Loan funds can be used for upcoming educational costs, or may be applied to cover past due balances from a previous academic period. TERI offers flexible repayment options. Contact them at 1-800-255-TERI for an application or apply online at www.teri.org.
Teri Continuing Education Loan: TERI offers a Continuing Education Loan for part-time students through which they can borrow from $500 up to $5,000 annually. Students may borrow on a semester, trimester, or quarterly basis. Loan funds may be used for tuition, fees, books, supplies and other college costs. This loan can also cover past due balances owed to the school from a prior academic period. Contact them at 1-800-255-TERI for an application or apply on-line at: www.teri.org.
Excel Loans: Nellie Mae also offers an alternative loan program for meeting educational costs. Depending on creditworthiness, parents or students can borrow up to the cost of education less financial aid. They also offer flexible repayment options. Please contact them at 1-800-338-5626 for an application or apply online at www.nelliemae.com.
Home Equity Loans: For some students and families, obtaining a low-interest home-equity loan is a convenient way to finance the cost of education. Generally, interest paid on home-equity loans is tax deductible for those taxpayers who itemize deductions.
Whole-Life Insurance: Many whole-life insurance policies allow the policyholder to borrow against the cash value of the insurance policy at a very low interest rate.
