Other Financial Planning Options

In addition to scholarships and need-based aid, there are other options for financing an Agnes Scott education. These programs are designed to help a student’s family manage their resources in ways that will enable them to make their expected family contribution toward college costs.

Federal Parent Loan for Undergraduate Students (PLUS)

Parents (and stepparents) of dependent undergraduate students attending school at least half-time are eligible to apply for a Federal PLUS loan. Borrowers must be U.S. citizens or eligible non-citizens. Loan approval is subject to the credit criteria established by the U.S. Department of Education. Submitting the FAFSA is required before a PLUS application may be processed. The interest rate for the PLUS loan is 5.3% for loans disbursed between July 1, 2020 and June 30, 2021, and parents can borrow up to the student's cost of attendance less other financial assistance. It is important to note that these loans are in the parent or guardian name, not the student’s, and the parent or guardian will be responsible for their payment. A credit check is required.

Parents can apply for the PLUS loan at studentaid.gov.

Private, credit-based student loans

A private, credit-based alternative loan may be available to students who need funding for remaining college costs. There are various lenders for student borrowers which require no payments while the student remains in school. Private loans have various options for repayment and may offer forbearance and deferral options. In addition, interest rates for private loans are based on credit and set by the lender. These loans are more expensive than federally guaranteed loans and should only be used when all other options are exhausted. Alternative loans are typically in the student's name and usually require a cosigner.

To view and compare alternative loans that Agnes Scott students have used in the past, please go to ElmSelect.com.

Student Access Loan - For Georgia Residents

Georgia Student Finance Authority (GSFA) offers the Student Access Loan Program (SAL) for eligible students attending an eligible post-secondary institution in Georgia. The SAL is a 1 percent fixed rate loan, designed to assist undergraduate and technical college students who have a gap in meeting their educational costs. Students must be considered Georgia residents and U.S. citizen or eligible non-citizen. Students must complete a FAFSA in order to be eligible. The maximum loan limit is $8,000 per year, or $36,000 over a college lifetime. It is important to note that this loan is in the student’s name, and the student will be responsible for their payment.

Students can learn more and apply through the GSFA.

Student Aid Foundation

The Student Aid Foundation was founded in 1908 by Atlanta women to recruit others interested in giving and supporting women with their educational aspirations. Applicants must be female students who plan to be enrolled full-time, a U.S. citizen, a Georgia resident or attending a Georgia post-secondary institution and have a 2.8 minimum GPA. Incoming students may receive a maximum of $5,000, while upper-class students may receive $10,000/year maximum. There is no interest accrued while the student is enrolled, with a 4% interest rate following. It is important to note that this loan is in the student’s name, and the student will be responsible for their payment.

For more information, please see the Student Aid Foundation's website.

Payment plan

To help you afford education expenses, Agnes Scott College works with Tuition Management Systems. Tuition Management Systems’ Interest-Free Monthly Payment Plan allows you to spread your education expenses over smaller monthly installments for a small enrollment fee. There is no interest and no pre-qualification or credit check required.

This is a popular option with many of our families because it reduces the need to borrow and it gives families more control over their savings. Tuition Management Systems’ services have helped over two million students at more than a thousand schools nationwide afford education.

For more information on your specific payment options or to enroll in the Interest-Free Monthly Payment Plan, visit Agnes Scott's Tuition Management website or call 1.800.722.4867 and speak with an education payment partner.

Tuition Exchange, Inc.

The college participates in Tuition Exchange, Inc. For more details, please visit the Tuition Exchange website or contact Agnes Scott’s Office of Financial Aid.

Presbyterian Tuition Exchange

The Association of Presbyterian Colleges and Universities offers a Tuition Exchange program for employees of participating schools and their dependents.

For more details and a list of eligible institutions, please visit The Presbyterian College website or contact Agnes Scott's Office of Financial Aid.

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CONTACT THE OFFICE OF FINANCIAL AID

Email: finaid@agnesscott.edu

Phone: 404.471.6395

Toll-free: 800.868.8602

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