Payment Plans

Installment Plan

The Allegheny Tuition Payment Plan, administered by Tuition Management Systems (, is recommended to help families budget payments of the student’s educational expenses and to limit debt.   This plan provides a convenient method for paying tuition, required fees, room and board in 10 monthly installments.  It is available to parents of Allegheny students, and in some instances may be made available directly to students.

Application forms are available from the Financial Services Office, as well as at  Applications are also enclosed in the July mailing of bills for the Fall Semester.  The completed application form should be returned with the first payment by August 1.  While full-year participation is encouraged, applications are accepted for second semester if they are received before December 1.  An $85 participation fee for the full year is charged and a $45 fee if paying by semester.  There are no interest charges, but late payments are assessed a $35 late fee.

Loan Options

A variety of financing options are available to students to help finance the cost of education.  Allegheny College Office of Financial Aid recommends that students utilize federal student loans first.  These loans have lower fixed interest rates than alternative educational loans and also have deferment and consolidation options.

Federal Direct Stafford Loan (for students)

The Federal Stafford Loan is a federally-funded loan program for students.  Stafford Loans must be repaid.  Repayment begins 6 months after enrollment is less than half-time. An origination fee will be deducted at the time of disbursement.

Subsidized amounts are based on demonstrated financial need.  The federal government pays the interest while the student is enrolled at least half-time.  Effective July 1, 2013, the interest rate for new subsidized Stafford Loans (once repayment begins) is 3.86% fixed.  The maximum subsidized amount that may be borrowed each year is as follows:  $3,500 for freshmen, $4,500 for sophomores, and $5,500 for juniors and seniors, up to a total of $23,000 for undergraduates.

Unsubsidized Stafford Loans accrue interest while the student is enrolled and is added to the principal at repayment.  The interest rate on new unsubsidized Stafford Loans is 3.86% fixed.  An additional $2,000 unsubsidized Stafford loan is available to all eligible students.

New students should complete both the Federal Stafford Loan Entrance Counseling and the Stafford Loan Master Promissory Note (MPN) by July 15, 2014.  Click here to complete the required Federal Stafford Loan Entrance Counseling.  Click here to complete the required Master Promissory Note.  Note that students will need their Federal Student Aid PIN to start the Federal Direct Stafford MPN.

Federal Perkins Loan (for students)

The Federal Perkins Loan is a federally-funded loan program based on demonstrated financial need.  The amount of a student’s Federal Perkins Loan is determined by Allegheny College and is based on funding levels.  Perkins Loans normally are awarded to Allegheny students with significant financial need the first two years of enrollment, due to lower amounts available from the Stafford Loan Program for freshmen and sophomores.

Students are required to complete a combined Perkins Loan Entrance Counseling/MPN before funds can be disbursed.  NOTE: The Perkins Loan Entrance Counseling is separate from the Federal Stafford Loan Entrance counseling.

New students should complete the Federal Perkins Loan Entrance Counseling/MPN after June 1, 2014.  Click here to complete the required Perkins Loan Entrance Counseling.

William D. Ford Direct PLUS Loan Program for Parents

  • Must file a FAFSA to be eligible
  • Available to parents of enrolled dependent students
  • Borrower must be a U.S. citizen or permanent resident
  • Parents may borrow the full cost of education less any financial aid received
  • 6.41% fixed interest rate
  • Interest begins to accrue on the loan from the date of the first disbursement
  • Repayment begins within 60 days of full disbursement unless other arrangements have been made
  • 4.0% origination fee is automatically deducted from the disbursement of the loan
  • Federally-determined independent students and dependent students whose parents do not qualify for the Federal PLUS are eligible to borrow additional unsubsidized Stafford Loans up to the following amounts: $4,000 each of the first two years, then $5,000 each year for up to three additional years of undergraduate study.
  • How to Apply for a Direct PLUS Loan

Private Student Loans

If you need further financing after federal student loans, you should select the loan that best meets your needs and which offers the best interest rate and borrower benefits.

Allegheny College suggests that you compare several alternative options, if additional financing is needed.  To assist families in their search for alternative loan possibilities, Allegheny College provides some private loan information at

Neither Allegheny College, nor any of its employees, benefit financially from families using any specific lender for private students loans.  Any information we provide at regarding alternative students loans is for information purposes only and should be used in comparison with any other loan options a family wishes to consider.

The information provided at is collected annually by reviewing interest rates, fees charged, interest rate reduction options, cosigner release options, savings potential, and other borrower benefits (such as borrower age, loans for past-due balances, academic progress requirements).  Alternative loans that Allegheny staff considers typical for that academic year will be included in the list at