How to Finance Your Education
Tuition is charged on an annual basis until the beginning of the fourth year; thereafter on a quarterly basis.
Methods of payment for tuition are:
- Credit cards (one-time charge or automatic periodic charges)
- Personal or cashier’s check
- Money order
- Financial aid
Any tuition balance remaining after the application of financial aid funds is due according the student’s payment plan.
Many of the program’s students utilize a number of payment options including:
- Tuition payment plans: A variety of payment plans are available. For more information, contact the program office
- Employer reimbursement: Students should check with their employer to see if there are employee reimbursement opportunities available. Many employers underwrite programs to assist employees with their educational expenses. We encourage students to seek educational assistance from their employers, and the program office will gladly assist with documentation to meet the requirements of such programs. We will work with students to determine the most appropriate payment plan given their employer’s benefits
- Tax Relief Act of 1997 (TRA 97): This provides an excellent opportunity for many of our students to receive significant tax savings. Students may be eligible for the lifetime learning credit and/or the student loan interest deduction. The lifetime learning credit enables students to claim a tax credit for up to 20% of the first $5,000 of qualified tuition and education expenses. The student loan interest savings provides a tax credit of up to $1,000 of eligible student loan interest. For specific information, students should contact their tax advisor
- Scholarship and fellowships: The web is an excellent starting point to search sources for scholarships and other sources of financial aid. Also, many organizations award scholarships and grants to students who are connected directly or indirectly with them. We encourage students to think about any organizations with which they are affiliated and contact them
- Federal direct loans. The direct loan program is a federally guaranteed student loan program. All graduate students are eligible to borrow up to $20,500 per academic year. Up to $8,500 of this amount may be subsidized depending on your level of need
- Subsidized Federal direct loan. Interest rate: Effective July 1, 2007, the interest rate will be a fixed 6.8%. The government pays the interest while you are in school. Maximum loans: $8,500 per academic year; lifetime of $65,500 including undergraduate loans. Fees: 1.5% fee is deducted from each loan disbursement by the Department of Education. Disbursement: Loans are disbursed in up to four equal portions, depending on the number of terms in your loan period
- Unsubsidized Federal direct loan. Interest rate: Same as subsidized Federal direct loan except that interest begins to accrue upon the first disbursement. Maximum loans: $20,500 per academic year less any subsidized direct loan; lifetime of $138,500 including undergraduate loans. Fees: A 1.5% fee is deducted from each loan disbursement by the Department of Education. Disbursement: Loans are disbursed in up to four equal portions, depending on the number of terms in your loan period
- Federal Perkins loans. These loans are awarded annually on a first-come, first-served basis. Interest rate: 5%; the government pays the interest while the student is in school. Maximum loans: $8,000 per year for doctoral students; lifetime of $30,000. Please note: maximum loan amounts may vary depending on availability of funds. Disbursement: Funds are applied after your signed promissory notes are returned to the financial aid office
- Grad Plus loan. If a student takes the maximum subsidized and unsubsidized loans and would like additional funds, an application can be made for the Grad Plus loan
Financial aid for fourth-year and beyond students
In calculating need-based aid for students in fourth year and beyond (up through the seventh year of study), annual tuition is paid quarterly. Once a student advances to candidacy, tuition is reduced in half to a dissertation maintenance fee in the quarter following their advancement to candidacy. Therefore it is imperative that all students notify the financial aid office at least one month prior to the onset of a new quarter (quarters begin on July 1, October 1, January 1, and April 1) if their status is expected to change to candidacy so that proper calculations for future financial aid can be done appropriately. Until such time that a student
advances to candidacy, he/she continues to pay full tuition (although pro-rated quarterly).
Deferment of previous loans
Students who are enrolled in the Ph.D. program may have previous federal student loans deferred while they are enrolled. After a student completes his/her section of the deferment form, it is sent to the program office where it will be completed and provided to the lender.
Some states require students to maintain full-time status to be eligible for deferment of state-funded loans. The financial aid office can assist students on the specifics of their loan regulations.
Antioch University, as required by federal law, will automatically report a student’s enrollment status to the lender through the National student loan data system. If a student is still receiving payment notices she/he should contact the lender for a deferment
form, complete his/her portion and then forward it to the program office where it will be completed and returned to the lender.
