Alternative Financing
Estimate your actual RU Costs. Subtract your financial aid awards (not
including student employment) from the estimated costs for
undergraduate or graduate students. The
costs that you will be charged by the university will be tuition, fees,
matriculation fee, on-campus room and board. You will also need money for
books at the beginning of each semester.
This will provide you with an estimate and allow you to explore options to
finance any balance that you may owe. Your billing statement will be
mailed to you showing the actual amount that you owe.
Please remember that if your financial aid is estimated, awards are subject to
change if award adjustments are necessary after verification of your financial
aid application.
There are several options that families can use to finance educational costs
that are not paid by the standard financial aid programs. These options
are summarized below:
- Higlander Choice Payment Plan
- This payment plan is administered by Radford University and
allows families to make 10 monthly payments to pay any balance due for
tuition, fees, and on-campus room or board.
- Parent Loan (PLUS) - The PLUS Loan allows
parents to borrow up to the cost of attendance minus any financial aid that
the student is receiving. The parent is responsible for repayment of
this loan. Repayment begins within 60 days, but may be deferred
(parent should contact the lender). The loan is a credit-worthy loan.
However, if the parent is denied, the student is eligible to borrow
additional unsubsidized Federal Stafford Loan funds. The amount of the
additional unsubsidized Federal Stafford Loan will depend upon the students
class level. The student must meet eligibility requirements for this
loan, which includes the Standards of Academic Progress.
- Alternative Loans - Alternative Loans are
provided by various lenders. The loans are typically taken out by the
student. If the student is not eligible based on credit, he/she can
obtain a credit-worthy co-signer. Repayment options, interest rates,
and fees vary between lenders.
University charges can be deferred until funds arrive if the borrower has
been approved for the loan.