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Loans and Payment

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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. We have 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 at 716.286.8686 for further information.  

Funding Programs Available

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

Level Tuition (LTP)

The Level Tuition Plan (LTP) allows first-semester freshmen to “lock in” one tuition rate for four consecutive years or eight consecutive semesters. The LTP is open to new, first-time, full-time, undergraduate freshmen. This is an optional plan. Under LTP, students will pay a slightly higher rate for the first year, but tuition stays the same for all four years as regular 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% 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. 

Federal Direct PLUS Loan Program

Direct PLUS Loans are an option to bridge the gap between the cost of attendance and our financial aid package. Direct PLUS Loans are for parents or step-parents of undergraduate students, and graduate students borrowing on their own. Borrowers must be US citizens or an eligible noncitizen, by federal definition. Loan approval is subject to credit criteria established by the US Department of Education. A credit report will be obtained from a national credit bureau once you submit a request for approval.

Federal Direct Loan

To receive a direct loan, you must be registered for at least six credit hours per semester and have been packaged with the maximum amount available to you at your grade level. Eligibility for a Subsidized Direct Loan (Sub) is based on the federal need analysis formula. The government pays the interest while you are enrolled for at least six hours per semester.   The Unsubsidized Direct Loan (Unsub) is not based on need and you are responsible for the interest that accrues while attending school.   Interest can be deferred while in school, but it will be capitalized (added on the principal balance of the loan) at repayment, which occurs six months after leaving school. Once disbursed, the loan information will be submitted to NSLDS and will be accessible by authorized agencies, lenders and institutions.

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.

College Savings Program

NY 529 is a type of investment account that can be used to save for higher education and offers tax savings.