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Financing a Brandeis Education. What does it cost? When is it due? How can we pay?. 2013-2014 Direct Charges. Tuition $ 44,380 Fees 1,726 Double Room 7,204 10 Meal/Points 5,510 Total $ 58,820. Net Cost Calculation .

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Financing a brandeis education

Financing a Brandeis Education

What does it cost?

When is it due?

How can we pay?


2013 2014 direct charges
2013-2014 Direct Charges

Tuition $ 44,380

Fees 1,726

Double Room 7,204

10 Meal/Points 5,510

Total $ 58,820


Net cost calculation
Net Cost Calculation

Subtract Grants, Scholarships, and net of Loans from Total Cost

$58,820 Total Cost

- 27,270 Aid

$31,550 Net Cost


Semester billing dates
Semester Billing Dates

Fall semester bills mailed early July with payment due on August 9th

Spring semester bills mailed mid- November with payment due on January 3rd


Payment options
Payment Options

Directly by Check or Money Order

Western Union Wire Transfers

On-Line Payment Gateway by Credit Card or Direct Withdrawal from Checking/Savings

10-Month Payment Plan

Tuition Stabilization Plan (TSP)

Loans:

Home Equity or Mortgage Loan

Supplemental Education Loans for Parents

Supplemental Education Loans for Students


Parent federal direct loan for undergraduate students direct plus
Parent Federal Direct Loan for Undergraduate Students (Direct PLUS)

7.9% fixed interest rate

4% origination fee deducted from amount borrowed

Cost of attendance minus financial aid

Immediate or deferred repayment

10 year standard or 25 year extended

Standard, deferred, extended, graduated repayment, or income based repayment

Consolidation


Mefa loan for parents
MEFA Loan for Parents (Direct PLUS)

Fixed interest rates of 5.99/7.24% on immediate repayment 10 year term, 6.29/7.29% on immediate 15 year term, 7.09/8.09% on interest only repayment during in-school period 15 year term, 7.59% on deferred repayment during in-school period 15 year repayment term

4.0% origination fee added to amount borrowed

Cost of attendance minus financial aid

Lower interest rates on immediate and interest-only loans apply during in-school period only, interest-only repayment ends after anticipated graduation date, deferred repayment ends after the student graduates, leaves the program, or is enrolled for less than half-time status


Student federal direct unsubsidized stafford loan
Student Federal Direct Unsubsidized Stafford Loan (Direct PLUS)

6.8% fixed interest

1% origination fee deducted from amount borrowed

$5,500 1st year, $6,500 2nd year, $7,500 3rd year and beyond (minus any subsidized loan)

Additional $4,000 1st and 2nd year, $5,000 3rd and beyond with PLUS denial

Deferred repayment until six months after graduation with 10 year standard or 25 year extended

Standard, extended, graduated, income contingent, or income based repayment

Interest accrues during deferment period

Consolidation


Private loans for students
Private Loans for Students: (Direct PLUS)

Variable interest rates based on credit rating and co-signer presence

Cost of attendance minus financial aid

Six plus years of repayment starting six months after graduation

Origination/disbursement fees vary

Co-signer usually required with possible release

Payment of interest may be required during deferment period

Interest rate reduction incentives vary based on direct withdrawal payment and years of on-time payments.


Combinations to pay 31 550 net cost
Combinations to Pay (Direct PLUS)$31,550 Net Cost

Payment Plan and PLUS Loan (Immediate Repayment)

$10,000 Payment Plan = $1,000.00 Monthly

$21,550 PLUS = $267.23 Monthly

$1,000 Payment for Seven Months, $1,267.23, Payment for Three Months, $267.23 for Two Months for First Year


Combinations to pay 31 550 net cost1
Combinations to Pay (Direct PLUS)$31,550 Net Cost

Payment Plan and MEFA Loan (Immediate Repayment)

$10,000 Payment Plan = $1,000.00 Monthly

$21,550 MEFA Loan = $217.11 Monthly

$1,000 Payment for Seven Months, $1,217.11 Payment for Three Months, $217.11 for Two Months for First Year


Combinations to pay 31 550 net cost2
Combinations to Pay (Direct PLUS)$31,550 Net Cost

PLUS (Standard 10 Year Repayment) and Private Student Loan (Deferred Repayment)

$21,550 PLUS = $267.23 Monthly

$10,000 Private Student Loan = Payment of Interest Only During Deferral Period

$267.23 Monthly Payment During Deferral Period


Multi year repayments
Multi-Year Repayments (Direct PLUS)

$10,000 PLUS Borrowed per Year for Four Years - Standard 10 Year Repayment

Year 1 - $124 Monthly

Year 2 - $248 Monthly

Year 3 - $372 Monthly

Year 4 - $496 Monthly for 7 years, $372 for 1 year, $248 for 1 year, $124 for 1 year.


On line help
On-Line Help (Direct PLUS)

GO.BRANDEIS.EDU/FINANCING for:

- Payment Plan

- Education Loans

- Tuition Stabilization Plan (TSP)

- Customize a Solution (click “BorrowSmart” under Education Loan Programs)

- Other links


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