Financial Aid at Aquinas College

Ways to Cover Out of Pocket Costs

1.  Pay in Full

  • Full payment is due the first day of each semester.

2.  Monthly Payment Plan

3.  Parent PLUS Loans

  • Parents may borrow in their names to help cover the student’s educational costs.  
  • A credit check must be passed in order to be eligible to borrow.  
  • Parents may borrow up to the cost of education minus any other financial aid received.  
  • The interest rate and origination fees are set by the Federal Government every year
    • For loans between July 1, 2021 and July 1, 2022, the fixed interest rate is 6.28%
    • The origination fee for loans disbursed between October 1, 2021 and September 30th, 2022 is 4.228%
  • Repayment begins immediately after you’ve received the last disbursement of the loan, while your child is still in school.  However, deferments can be requested through your loan servicer, while your student is enrolled at least half-time and for an additional six months after.  
  • If a PLUS Loan is denied due to adverse credit, the student becomes eligible for additional unsubsidized Ford Direct Loan funds- Please contact the financial aid office for further guidance.

>More Information about Loan Applications

4.  Alternative Loans

  • Private loans are also available for students and parents to help with educational costs.  
  • Private loans are credit based, and each lender has its own requirements.  
  • A co-signer will be required, but some lenders offer co-signer release options after a certain number of on time payments.  
  • We cannot recommend any lenders, but a historical list of those utilized by our students within the last three years can be obtained at ELMSelect.
  • Aquinas College does not have a preferred lender agreement with any lender and will work with all student requests.

5.  On-campus Employment

  • Part-time employment is available to all students. Each student arranges their own employment and receives a paycheck for the hours worked.  >Employment Information

Be sure you know how you will cover your balance and books before classes begin

  • Bill notices will be emailed to your student at their AQ email address in mid-July and mid-December for each semester.  Their statement can always be found online at MyAQ.  

What about tax incentives for Education-related Expenses?

  • For more information, click here. 
  • Check with your tax advisor for current information/eligibility.