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Loans & Payment

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 (716.286.8686) for further information.  

There are many innovative funding programs that are available, including the following:

Level Tuition Plan (LTP)

The Level Tuition Plan gives new, full-time freshmen the option of locking in one tuition rate for all four years. Under this plan, a slightly higher rate of tuition is paid the first year. However, this rate will remain stable in the years ahead if/when the cost of tuition increases.

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 one down payment of 20 percent and four (4) monthly interest free installments per semester. 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 at the following links:

Federal Direct  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. There is an origination fee of 4.228 (as of July 1, 2021) percent deducted each time a loan payment is made. Repayment may be deferred until six months after the student ceases to be enrolled at least six hours per semester. The maximum repayment period is  10 years. The interest rate is fixed at 6.28 percent as of July 1, 2021.

PLUS loans are not need based and have no income restrictions. To be eligible, parents must have no adverse credit history. Apply at studentaid.gov

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 website (www.nysaves.org). Also, visit  www.fastweb.com  to search for scholarships.