There is no “right way” for every family, but there is a way for every family. Contact us to talk about your options, including those listed below. Keep in mind that you can use any combination of these options to make it work for you.
Also, keep in mind the tuition guarantee, which locks your tuition in over the four years you are enrolled at Hiram College.
This program allows you to break your balance into eight affordable payments spread over 10 months. There is a one-time fee for this payment plan, paid with the first payment, but there is no interest on this plan. More information can be found at the Student Accounts page and the application will be included with your Fall Semester bill.
There are two sources of loans that are available to families beyond the Federal Stafford Loan. These loans are not guaranteed.
Federal Parent Loan for Undergraduate Students (PLUS)
This loan is borrowed by the parent on behalf of a dependent student. The interest rate on this loan is fixed at 7.9% and typically goes into repayment 30 days after the loan has been fully disbursed. This loan can be deferred while the student is in school, but interest does accrue. For more information, including the application process, review the Loan Information page.
Alternative Student Loan
This loan is borrowed by the student and typically requires a credit-worthy co-borrower. The co-borrower is usually a parent, though it does not have to be the parent. The interest rate varies based upon the credit of the applicant and co-borrower and changes quarterly. This loan is deferred while the student is in school, but the interest does accrue. For more information, including the application process, review the Loan Information page.
International Student Loan
There are loans available to international students to help fund their education. Typically these loans require the student to apply with a credit-worthy US Citizen. For more information, review the Financial Aid for International Students page.