The Office of Financial Aid, the Bursar and the Loan Office are available to provide information about financing options and to assist families with developing a financing plan. We strongly encourage you to review the financing options referenced below as well as the financing examples. The Bursar's Office requires payment by August 1 for fall semester and January 1 for spring semester. All aid, regardless of source or origination, must be credited first toward college-billed charges, such as tuition, fees, and room and board. If, after deducting your anticipated financial aid from these charges, you will owe a balance, there are a number of payment options and resources you may consider.
Brown's Installment Payment Plan (IPP): Managed by the Bursar's Office, Brown's IPP enables students and their families to make interest-free monthly installments to cover each semesters tuition, housing, meals, and required fees. The IPP is available for the fall and spring semesters only. Enrollment in the plan for fall semester begins late June; enrollment in the plan for spring semester begins mid-November. Each semester of enrollment requires a $75 non-refundable enrollment fee. The IPP can be updated once your financial aid award is complete. Typically, awards for the upcoming year are completed mid to late June. More detailed information and application instructions may be obtained from the Bursar's Office website or by calling (401) 863-2484.
Federal Direct PLUS Loans: The Federal Direct PLUS Loan is available to assist parents, guardians and graduate students in borrowing all or a portion of the cost of education. The interest rate for the Direct PLUS loan is a fixed 7.90%. The PLUS loan offers several benefits available to borrowers including deferment of repayment until after the student graduates (or drops below half-time enrollment status). In addition repayment calculators are available to assist families in determining their monthly payments. Additional information on the PLUS loan program may be obtained by visiting the Loan Office website or by contacting their office at (401) 863-3296.
Federal Student Loans: The Direct Stafford Loan program provides low-interest loans to students to assist with paying for educational expenses. Regardless of whether or not a student was offered a federal student loan in his or her initial financial aid package, U.S citizens and permanent residents may be eligible to borrow either a subsidized or unsubsidized Stafford Loan. Detailed information about these loans, including maximum borrowing limits, is available on the Loan Office web site. Contact the Office of Financial to initiate the borrowing process.
Private Student Loans: If you are considering borrowing a Private Loan please review this information.
In an effort to assist our families in understanding the financing options available to them, example scenarios have been created to illustrate how a family may use one or more of these options to pay the Expected Family Contribution (EFC). The example scenarios listed below are based on a range of expected contributions. Please reference the Expected Family Contribution on your financial aid award letter then choose the appropriate example closest to your EFC.
· Scenario based on an EFC of $50,000
· Scenario based on an EFC of $40,000
· Scenario based on an EFC of $25,000
· Scenario based on an EFC of $20,000
· Scenario based on an EFC of $7,000
* Disclaimer: These example scenarios are for illustration purposes only. Interest rate, fees, and other terms for all loan and payment plans referenced are subject to change.
"Financing a Brown Education Planner" - A brochure and worksheet prepared by the Office of Financial Aid to help families develop a financial plan.