Loans

The Financial Aid Office can assist you in reviewing an educational loan that can help you meet the costs of a Lafayette education.

Federal Stafford
Federal Parent PLUS
Alternative

Our staff has comprised a list of suggested educational loan lenders based on a yearly review of the following borrower benefits and accommodations:

We know many families appreciate having a list of lenders they can select and they also have the option of choosing a lender that is not on our list. In those cases, we ask that the students contact our office so we are aware of the lender, can make sure the student knows the terms s/he is selecting, and we can provide counsel if we think it is necessary.

The financial aid staff is dedicated to providing access and, as such, it is our mission to coordinate all aspects of a financial aid award (grants, loans and campus employment) and provide assistance and guidance on application procedures, financial concerns as well as loan programs and financing options. The office serves as the steward for all private, federal, state and institutional funds that enables our students and families to fund their college education and each staff member takes the responsibility very seriously. We welcome your input and encourage you to contact us with any questions or concerns.

Feel free to contact us at financialaidloans@lafayette.edu or (610) 330-5057.

Disclosure Statement: The Lafayette College Office of Financial Aid presents a suggested lender list to our students and their parents based on a yearly review of student benefits and accommodations. We take pride in making these suggestions but are willing and able to work with our students and parents if they choose to obtain a federal student loan from any eligible lender/guarantor. The Lafayette College Office of Financial Aid does not receive inducements from any suggested lender.

Payment Plans

1. TuitionPay Plan allows families to pay part or all of their educational costs through monthly payments. No interest is charged, but there is a nominal annual fee. More information is mailed in spring and can be obtained by visiting https://tuitionpay.salliemae.com or calling (800) 635-0120.

2. Tuition Prepayment Plan allows families who are not receiving Lafayette–funded aid (need-based or merit) to ″lock in″ the College’s tuition for a minimum of two or four years. By paying tuition upfront, parents can lock in the rate of tuition through graduation. The rate would be the amount charged in the first year of plan participation. Room and board charges would still fluctuate yearly. If the student withdraws before the prepaid fees have been used, the balance will be refunded, but no interest will be paid on the funds for the period they were on deposit with the College.

Billing
The Controller’s Office sends a bill for each semester’s expenses. Each student’s financial aid award is divided equally between the two semesters and credited accordingly on the bill.

Bills are mailed in early July for the fall semester and early December for the spring semester. Payment is due three weeks prior to the start of classes.