Payment Options for Lifelong Learning (Continuing Education) and Graduate Students
No-interest Payment Plan
The College offers a no-interest payment plan called the EZ Pay Plan which allows students to budget a semester’s balance over a 5-month plan (Fall payments begin in July, and Spring payments begin in December). Monthly payments are due by the 20th of the month. Families can self-enroll through the student’s my.cedarcrest.edu account to pay any portion of the semester amount due through this plan. There is an enrollment fee of $25 per semester to use this plan.
Employer Tuition Deferment
If your employer reimburses you for your tuition after you complete your course(s), you may defer your payment to the College until you receive your employer's reimbursement. Deferred tuition payment must be submitted to Student Financial Services no later than four weeks after grades are issued. To be eligible to defer your tuition payments until you receive reimbursement from your employer, you must complete an “Employer Tuition Benefit Application.” The application requires a signature from your employer confirming your benefit eligibility and terms. Once your employer and the College approve the application, this application will remain in your student file. It is the student's responsibility to notify the College as to any change in employment or benefits. You are responsible for payment in full of all tuition, whether or not reimbursement is ever received from the employer. You must also complete a “Tuition Deferment Form” for each semester. The Tuition Deferment Form and the student's portion of the tuition, if any, are due by the tuition due date.
Federal Direct Graduate PLUS Loan
This is a federal loan made to a credit-worthy graduate student who is enrolled at least half-time, maintains satisfactory academic progress and is not in default on any education loan. The borrower may apply to borrow an amount up to the cost of attendance minus financial aid. If the Federal Direct Graduate PLUS Loan is denied, the application process ends (unless the borrower would like to obtain a credit-worthy endorser for the loan or has been denied due to delinquent mortgage payments and would like the situation re-evaluated). The interest rate is currently fixed at 7.9% for the 2009-2010 academic year. Payments will automatically be deferred until 6 months after the date the graduate student ceases to be enrolled at least half-time. To apply for this loan program, please complete the Federal Direct Graduate PLUS Request and return it to Student Financial Services. Return address and fax information are located on the bottom of the Request form.
Private Educational Loans
These are private consumer education loans in the student’s name and should be investigated carefully regarding all terms, including fees, interest rate, adjustments, etc. Students must have a credit-worthy co-signer to qualify. The maximum amount that may be borrowed is the school’s cost of attendance minus any other financial aid. For some loan programs, principal and interest may be deferred while the student is enrolled in school at least half-time. Fees and interest rates for these types of programs vary greatly and depend upon the credit criteria of the borrower (student) and co-signer. The College has a list of private educational loans available at www.ElmSelect.com and will also certify any private loan requested by a Borrower.