Worksheet To Calculate Your Estimated Costs (Page 2 of 2) in pdf

EXAMPLES OF PAYMENT OPTIONS

You have several options for paying your estimated balance due. Your first option is to pay the fall balance

due in full by the due date in mid-July and the spring balance due in full by the due date in early January. The

University Bursar’s Office uses ePay, a quick, easy, and secure way to pay your bills online using Visa,

Mastercard, Discover, American Express, a debit card, or U.S. checking account. Additionally, the options

you have, should you elect not to make payment in full directly to UNH, would be as follows:

Option 1

Option 2

Option 3

Tuition Management System(TMS)

Borrow from the federal

Borrow from a private alternative loan

Monthly payment plan

parent PLUS loan program

program

This federal credit-based loan

This private credit-based loan is borrowed by

The payment plan is interest free.

program allows a parent of a

the student and a credit-worthy co-signer.

dependent student to borrow up

This optional plan is year specific and you

to the cost of attendance less

Interest rates, terms and conditions are set by

any aid received by the student.

each individual lender.

There is an $85 enrollment fee to utilize

The parent repays the loan with

Students may be required to begin repaying

this service.

interest over the course of 10

the loan or at least make interest payments

years. For 2015-2016, the

while enrolled in school.

PLUS loan has a fixed interest

TMS does not accept credit cards as a

rate of 6.84%.

Interest rates may be fixed or variable.

method of payment

Example: $20,000 Balance Due for the

Example: $20,000 Balance

Example: $20,000 Balance Due

year divided by 10 months = $2,000 per

Due repaid over 10 years (120

month

months) = approximately $230

With a variable high rate of interest (9.13):

per month

Interest payments while in school = approx.

You can also use the plan in conjunction

$152 per month.

with another method of payment (loan,

Repayment (interest & principle) = approx.

direct payment, etc.).

$325 per month for 10 years.

With a fixed low rate of interest (5.75):

Interest payments while in school = approx.

$96 per month.

Repayment (interest & principle) = approx.

$290 per month for 10 years.

**Families should not apply for PLUS or alternative loans prior to April 15, 2016 because the credit

checks associated with those loans will expire before the funds can be disbursed.

Worksheet To Calculate Your Estimated Costs Page 2

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