FEDERAL AND PRIVATE LOANS - Roger Williams University Payment Options.… · FEDERAL AND PRIVATE...
Transcript of FEDERAL AND PRIVATE LOANS - Roger Williams University Payment Options.… · FEDERAL AND PRIVATE...
2020-2021 PAYMENT OPTIONS
FEDERAL AND PRIVATE LOANS
If you plan to borrow a Federal Parent PLUS loan or a Private Loan for the balance, you must apply for the loan by June 9, 2020. Below you will find 2020-2021 interest rates and fees. To apply for a Federal Parent PLUS loan, please complete application and Master Promissory Note at studentaid.gov. Additional information on Federal PLUS Loan and Private Parent and Student Loans can be found at https://www.rwu.edu/undergraduate/admission-aid/financial-aid/types-aid
Federal Loan Options Federal Loans Variable Interest Rate Fixed Interest Rate* Origination/ disbursement fee**
DIRECT PLUS LOAN Not Applicable 5.30% 4.236% DIRECT SUBSIDIZED LOAN Not Applicable 2.75% 1.059% DIRECT UNSUBSIDIZED LOAN (UNDERGRADUATE STUDENTS)
Not Applicable 2.75% 1.059%
* Interest rates applies to loans with a first disbursement date between July 1, 2020 and June 30, 2021. ** Origination fees applies to loans that first disburse on or after October 1, 2019, and before October 1, 2020.
Private/ Alternative Loans Private Lenders (Suggestions) Variable Interest Rate Fixed Interest Rate Origination/ disbursement fee*
www.citizensbank.com/studentloans 2.02 – 10.13% (based on a 5-15 year repayment) 4.72– 12.04% (based on a 5-15 year repayment) No Fees www.DiscoverStudentLoans.com 1.8 – 10.37% 4.74 – 12.49% No Fees www.risla.com Not Applicable 3.89% (Student Loan - Immediate)
4.89% (Parent Loan - Immediate) No Fees
www.salliemae.com 2 - 10.09% 4.74 - 11.85% No Fees
TUITION MANAGEMENT SYSTEMS MONTHLY PAYMENT PLAN
The monthly payment plan at Roger Williams University allows you to pay your education expenses in smaller, more manageable monthly installments. The cost for the monthly payment is a $40 per semester enrollment fee. If you plan to use Tuition Management Systems (TMS) monthly payment plan, you should set up a plan by June 9, 2020 at https://rwu.afford.com/.
Revised 4/24/2020