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NU's Financial Aid Office offers you and your family special financial assistance that can help make NU affordable. This assistance includes special payment options, alternative loan programs, and government-supported loans. NU's Financial Aid Office has a staff of knowledgeable, helpful professionals who will be happy to work with you on an individual basis to provide you with step-by-step details about affordable options. Contact NU's Financial Aid Office(telephone: 716-286-8686) for further information.
There are many innovative funding programs that are available, including the following:
NU's Monthly Payment Option
In an effort to accommodate every family’s educational financial needs, Niagara University offers an interest-free payment plan that allows each semester’s cost to be paid in five installments (ten payments per academic year). There is a nominal charge for this service. Please look for additional information from the Office of Student Accounts, including the required application and all scheduled due dates, for the upcoming academic year. Information, including downloadable applications, may also be found under the heading of payment plans at our
Federal PLUS Loan Program
The Parent Loan for Undergraduate Students (PLUS) is available to parents of dependent undergraduate students. Parents may borrow an amount up to the cost of attendance per student less other aid received. Repayment of principal and interest begins in 60 days, with up to 10 years to repay the loan. The interest rate is fixed at 8.5%.
PLUS loans are not need based and have no income restrictions. To be eligible, parents shall have no adverse credit history.
There is an origination fee of up to 4 percent deducted each time a loan payment is made. Payment is made through electronic fund transfer (EFT).
Applications are available from your lender (bank, credit union, etc.) or Niagara’s financial aid office. Completed applications must be submitted to the financial aid office at Niagara University. Please allow six to eight weeks for processing.
Privately Sponsored Alternative Loan Programs
A number of lenders, credit unions and agencies sponsor alternative loans, home equity loans and lines of credit to help families finance the cost of a college education.
The following is a representative listing of such programs. Contact these lenders for the latest terms and rates.
- What is the interest rate?
- What is the cap on the interest rate and how often does the interest rate change?
- When and how often is the interest capitalized (added to the principal)?
- When does the repayment begin?
- What are the penalties for missing monthly payments?
- Can you postpone payments after graduation; under what circumstances?
- Is there in-school deferment for graduate school; and is there a maximum time for an in-school deferment?
For additional information about financing a college education, visit the College Savings Program's web site (www.nysaves.org) and the Higher Education Services Corporation's web site (www.hesc.org). They can provide important information for students and their families. Also, visit www.fastweb.com to search for scholarships.
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