Financing Options
Available at Earlham |
The chart below provides information about the loans and
payment plans currently available at Earlham. If you have
questions about the programs described in the chart, please
feel free to contact our office.
|
| Payment plan name |
Type |
Interest Rate* |
Origination
or
Application Fee |
Payment begins |
How to Apply |
How to Get More Information |
| Full Payment |
- |
- |
- |
July 31st for Fall semester, mid-December for Spring semester
|
- |
Contact Student Accounts
at Earlham
(765) 983-1333 |
EC Deferred
Payment Plan**
|
Payment
Plan |
12% APR or 1% of balance due on last day of each month |
None |
July 31st for Fall semester, mid-December for Spring semester |
Select the Deferred Payment Option on your Earlham semester
bill |
Contact Student Accounts at Earlham
(765) 983-1333 |
Earlham
Direct Pay
|
Automatic
payments
deducted
from your
checking
account |
N/A |
$40
non-
refundable
enrollment fee |
July — April, ten equal payments; or July — Nov., five equal payments |
Complete application available from Earlham Student Accounts |
Contact Student Accounts at Earlham
(765) 983-1333 |
Federal Direct PLUS Loan
(parents) |
Loan from U.S. Dept of Education |
Variable, capped at 9% (for 2005-06 interest rate is 6.1%)
|
2.5%
(4% minus 1.5% up-front interest rebate) of loan principal |
60 days after fully disbursed, several repayment options |
Parent completes Earlham PLUS Loan Request Form, returns it
to Financial Aid at
Earlham. |
Contact the Financial Aid Office at Earlham
(765) 983-1217 |
Federal Perkins
Loan
(for students)
|
Federal Loan |
Fixed at 5% |
None |
9 months after student graduates, withdraws or drops to less
than half-time |
Must be included in aid package; complete loan papers when
mailed to you |
Contact the Accounting Office at (765)983-1271 |
Federal Direct
(Subsidized) Stafford Loan
(for students)
|
Loan from U.S. Dept of Education |
Variable, capped at 8.25% (for 2005-2006 interest is 4.7%) |
1.5%
(3% minus 1.5% up-front interest rebate) of loan principal |
6 months after student graduates, withdraws or drops to less
than half-time |
Must be included in aid package; complete application and
note when instructions are mailed to you |
Contact the Financial Aid Office at Earlham
(765) 983-1217 |
Federal Direct
Unsubsidized Stafford Loan
(for students)
|
Loan from U.S. Dept of Education |
Variable, capped at 8.25% (for 2005-2006 interest is 4.7%)
|
1.5%
(3% minus 1.5% up-front interest rebate) of loan principal |
Same as Subsidized above; interest accrues while student is
in school |
If not included in award, write to the Financial Aid Office
to specify interest |
Contact the Financial Aid Office at Earlham
(765) 983-1217 |
Supplemental Loans
(students)
|
Loan |
Varies |
Varies |
Varies |
Contact
Lender |
Contact the Financial Aid Office at Earlham
(765) 983-1217 |
|
*The interest rates and/or repayment options
for loans are only accurate as of the day of printing. Contact
the lender(s) for the most up to date information.
**Requires one-half of the amount owed for Fall Semester
due July 31, with remaining balance in three equal installments
due August, September, and October. For Spring Semester, one-half
of the amount owed due mid-December, with the remaining balance
in three equal installments due January, February, and March
|
