Monthly Payment Plan
The Monthly Payment Plan is an affordable, interest-free alternative to paying each semester’s tuition and expenses in full prior to the Fall term (due in August) and the Spring term (due in January). The Monthly Payment Plan is not a loan, so there are no interest payments—only a low annual enrollment fee. Used alone or in conjunction with loans, the Monthly Payment Plan can help reduce the amount you need to borrow, which saves you money and keeps debt to a minimum.
For more information please call the Washington College Business Office at 410-778-7708, or click on the link below.
Alternative/Private Student Loans
Many banks and lending institutions offer alternative educational loans that can be used to cover the portion of the total cost of education not covered by scholarships, grants, and other financial aid. These loans are offered by private lenders and there are no federal forms to complete. Eligibility for these loans often depends on the credit score of the borrower.
Some families turn to alternative loans when the federal loans do not provide enough money or when they need more flexible payment options.
Because most private loans cost more than the education loans offered by the federal government, and most have variable interest rates tied to your credit score, we recommend that families research the various private loans before electing to use this payment option.
Washington College does not partner with any particular lenders. However, the Office of Student Aid staff would be happy to help answer questions you may have related to alternative/private loans.
Prepaid Tuition Option
Washington College offers a prepaid tuition plan that guarantees savings by protecting the student from future increases in the price of tuition. Tuition may be prepaid at the prevailing semester rate by multiplying the current semester rate by the number of semesters to be prepaid. The Prepaid Tuition Option covers tuition only; room, board, and other fees cannot be prepaid and will be invoiced according to the normal fall/spring billing cycle(s). For additional information or questions, please contact Jeani Narcum, Director, Office of Student Financial Aid, at 410-778-7214.