What other options are available if a student is not eligible for any type of need-based aid?
Those students are still eligible for an unsubsidized direct loan. They would be responsible for the repayment of the accrual of interest while they are in school. But the interest rate is very modest on those loans. Also, parents might be interested in applying for Parent Loans for Undergraduate Students (PLUS). Parents are generally eligible for loans up to the cost of attendance for the student minus any financial aid the student may receive. The interest rate is capped, and there is generally a ten year repayment period. Applications for PLUS loans can be requested through the Office of Financial Aid. Based on new legislation, parents are able to defer payments on a PLUS loan until after the student graduates. Winthrop also has a payment plan available through the business office. The balance due for each semester would be divided into four payments that would be paid over the course of the semester. There is no interest charged, but there is a $30 participation fee per semester. T
Related Questions
- Can the percentage of students receiving aid be greater than 100% if a student receives more than one type of aid?
- Are PSO students eligible for federal student aid such as Pell Grants or Federal Student Loans?
- What other options are available if a student is not eligible for any type of need-based aid?
