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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 7.54% for loans disbursed between July 1, 2022 and June 30, 2023, 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 name, not the student’s, and the parent will be responsible for their payment. A credit check is required.

Parents can apply for the PLUS loan.

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.

Finding the best lender for you and your family is important. One option you can use to review and compare private lenders is available through Sparrow. On Sparrow, you can search and compare real, personalized private student loan offers from over 15+ lenders through a simple, three-minute application. Sparrow allows you to easily compare loans and is free. Using Sparrow does not impact your credit score when searching for loan options; your credit score will not be impacted until you choose a loan and begin the application process. Get started with Sparrow.

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% 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.

Payment plan

To help you afford education expenses, Agnes Scott College works with our payment provider Nelnet. Nelnet's 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. Nelnet’s services have helped over two million students at more than a thousand schools nationwide afford education.

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.

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