Other Financing Options

Included below is information on how to navigate the financial aid process at the University of Delaware. As we mentioned, it starts with filing the FAFSA. From there, stay tuned for additional communications from Student Financial Services and explore the options and resources provided below to know what to expect as you prepare to start your college journey.

Educational Loans

While students will generally be eligible for federal loans, the amounts they can borrow are limited. Many parents will explore other loan sources to help offset college costs. The most common types of loans are the Federal Parent PLUS Loan and alternative loans.


Parent PLUS Loan

Parents of dependent undergraduate students may apply for the Federal Direct Parent PLUS Loan to cover educational expenses that are not covered by other aid in your financial aid award. Note: You must have a valid FAFSA on file for the academic year for which you are applying the PLUS loan.

The Parent PLUS Loan is offered through the federal government at a fixed interest rate and requires a credit check. For additional details on the Parent PLUS Loan program, including application steps, view our Parent PLUS Loan Supplement.

  • Application Process: Apply online at www.studentloans.gov
  • Application Timing:
    • Fall 2015 Admits: Apply on or after April 15, 2015


Alternative Loans

Families may also borrow educational loans through private lenders to help cover educational expenses. These loans are backed by various bank lenders and are generally offered at variable interest rates. Since most lenders require that borrowers have good credit to be eligible for the loans, parents/guardians/friends may need to cosign on the student's educational loan application.

While the University does not endorse any specific lender, we provide a sampling here to help you start exploring these options.

  • Application Process: Apply directly through your lender's website
  • Application Timing:
    • Fall 2015 Admits: Apply on or after April 15, 2015


University Billing and the Monthly Installment Plan

The University bills and requires payment prior to the start of each semester. For families who are looking for greater flexibility with payment due dates, the University offers a monthly installment plan that allows families to spread each semester's payments over four months. Please note that there is a $50 enrollment fee per semester for this option. Please refer to our billing/installment plan due dates below:

  Fall 2015 Semester Spring 2016 Semester
 
Billing Notification Sent Mid-July Mid-December
 
Semester Payment Due Date August 1 January 4
 
Installment Plan Due Dates August 1
September 1
October 1
November 1
January 4
February 4
March 4
April 4