Additional Financing Resources

Beyond your Financial Aid Award Notice the following options are used by many families to further meet college expenses:

Federal Parent Plus Loans

The Parent Loan for Undergraduate Students (PLUS) program assists eligible parents in meeting educational expenses. The Federal Direct PLUS program allows parents to borrow up to the cost of education minus other resources. An origination/insurance fee not to exceed four percent is deducted from the disbursed amount. Your parents may choose to defer payments on the PLUS loan until six month's after the date the student ceases to be enrolled at least half-time (six credits). The Direct Loan Servicer will provide you with the option to pay the interest that accrues on the loan prior to the start of repayment, either monthly or quarterly, or capitalized quarterly. Alternately, you may choose to begin repayment 60 days after the loan is fully disbursed, e.g. 60 days after the spring disbursement if your loan is for both fall and spring semesters, or for spring only. If you do so, the interest that accrues from the first disbursement to the start of repayment will be capitalized. If a parent is not eligible to receive to a PLUS loan due to extenuating circumstances, such as bad credit or financial hardships, the student is eligible to borrow an additional $4000 to $5000 (depending on the student's academic level) in unsubsidized loan money.

If you wish to apply for a Federal Direct PLUS Loan please follow the steps on the Loan Information page.

Installment Payment Plan

This is an option that can help many families budget the out of pocket expense. Enrollment in this plan is at a $50 fee per semester and is done as you make your first payment. The semester installment payment plan allows families to make up to 4 monthly payments each semester to pay-off the balance. Enrollment in the Installment Plan is done from the online Billing site, My Finances when payment is made for the semester.

Alternative Loan Options

Please note that these lenders are for private student loans and are not to be used for Parent PLUS Loans or student Federal Direct Loans (Stafford Loans).

If you are a current student who wishes to find out more information about Alternative Loan Programs, please select the link below. By doing so, you will have access to a list of several alternative loan lenders that are frequently used by our students. Please keep in mind that you are not required to use one of the lenders displayed at the end of the counseling session. These lenders are presented for informational purposes only.

**The lenders which appear on the list presented at the end of this counseling session were chosen based on the lender's ability to receive electronic loan certifications, send Electronic Funds Transfer (EFT), and fee structure. Most loans presented at the end of this counseling session have zero fees for all borrowers. A few of the lenders included in the list may charge fees for borrowers with poorer credit and that the Sallie Mae Smart Option Loan requires that some payments be made while in school. Please read all fee and interest rate information carefully before AND after approval.

If the student is a resident of NJ they may be interested in taking an alternative loan through NJ Class. More information can be found at:

  • NJ Class(for NJ residents only and Requires a FAFSA to be filed.)

To find information about resources for your specific state, you can access the site below:

Outside Scholarship Opportunities
Delaware Resident

The Dept. of Education website lists opportunities available to residents of Delaware in their Compendium:

Other information to help students and parents prepare for college:

The Delmarva Education Foundation serves Delmarva residents from Sussex County down to Cape Charles, VA.
DEF Website:
Scholarship Link:


To find information about resources for your specific state, you can access the sites below:

US Department of Education:

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