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Financial Plans


Financial plans that fit your needs and goals

As a student, you have many options available to fund your education. Below are the most common financial options that students use, but because everyone’s situation is different, it’s important that you discuss your payment plan with an advisor before you enroll.

cover_1Federal Financial Aid Plan

The Federal Financial Aid Plan is available if you receive federal grants, federal loans or both to pay for tuition in an eligible degree or certificate program. A list of federal financial aid programs is available on the U.S. Department of Education Student Aid website under Types of Aid.

Scholarships

Scholarships are a great way to fund your education because they do not need to be repaid; however, they are not provided to all students. Explore the scholarship opportunities that are available.

Institutional grants

If you’re a new student enrolling in an undergraduate program, or who meets certain financial need criteria, you may qualify for an institutional grant that will lower the cost of your education. An Enrollment Representative can help you determine if you can apply for an institutional grant.

Cash Plan

The Cash Plan lets you pay for tuition and fees one course at a time as you pursue your education. This plan requires that all charges be paid before the start of each course.

Tuition Deferral Plan

If your employer offers tuition reimbursement, the Tuition Deferral Plan provides for a 60-day “grace period” so that you can be reimbursed by your employer before making your payment. The U.S. Department of Veterans Affairs and U.S. Department of Defense offers similar benefits to active-duty and Reserve servicemembers and their dependents. If you choose this plan, your tuition bill will be sent to you.

Third-Party Billing Plan

The Third-Party Billing Plan works for students whose employers fund their education. This differs from our Tuition Deferral Plan in that the tuition charges are sent directly to your employer instead of to you. Please be sure to speak with an advisor to determine if your employer is approved for direct billing.

Private student loans

You can also pay for your education with private student loans available through most financial institutions.

Cash Plan

Pay as you go with this financial payment plan. By paying for one course at a time, you can manage your budget. The Cash Plan requires all tuition and electronic course materials fees to be paid in full prior to the start of each quarter.

Understand your rights and responsibilities when considering private loan options. Clear and accurate information can help you make informed choices, so you borrow only what you need and can reasonably repay.

The University recommends that private loans be considered only after all federal and state financial aid options have been exhausted. Private loans are made through third-party lenders and other financial institutions. Private loans are not subsidized or guaranteed by the federal government. Additionally, private loans are typically subject to a credit review, and individual lender terms and conditions will vary. For more information on the difference between federal and private loans, please visit the Consumer Financial Protection Bureau.

Private student loans may be available to both students and parents who are not eligible for federal financial aid or who need assistance beyond their financial aid eligibility. The lender determines eligibility, and amounts are limited to the cost of attendance minus other aid, including discounts and any other resources received.

Students may choose to use any eligible lender that offers private loans. The University does not maintain a list of lenders that offer private loans, nor will it endorse a particular lender. Students who need a focused resource to assist in finding a private loan may choose to use the list of private loan options developed by FinAid at finaid.org/loans/privatestudentloans.phtml

More financial options

Private student loans

Understand your rights and responsibilities when considering private loan options. Clear and accurate information can help you make informed choices, so you borrow only what you need and can reasonably repay.

The University recommends that private loans be considered only after all federal and state financial aid options have been exhausted. Private loans are made through third-party lenders and other financial institutions. Private loans are not subsidized or guaranteed by the federal government. Additionally, private loans are typically subject to a credit review, and individual lender terms and conditions will vary. For more information on the difference between federal and private loans, please visit the Consumer Financial Protection Bureau.

Private student loans may be available to both students and parents who are not eligible for federal financial aid or who need assistance beyond their financial aid eligibility. The lender determines eligibility, and amounts are limited to the cost of attendance minus other aid, including discounts and any other resources received.

Students may choose to use any eligible lender that offers private loans. The University does not maintain a list of lenders that offer private loans, nor will it endorse a particular lender. Students who need a focused resource to assist in finding a private loan may choose to use the list of private loan options developed by FinAid at finaid.org/loans/privatestudentloans.phtml

 

The 2014 report (PDF, 20MB) outlines progress related to improved student outcomes and makes clear that a majority of alumni report satisfaction with their University education. It also includes data related to the nature and characteristics of the University’s student body, and the results of empowering students to make responsible borrowing decisions leading to a significant decline in the school’s student loan cohort default rates.

“The purpose of this report is to provide a picture of the institution today and to outline areas for progress tomorrow,” said University of Phoenix President Tim Slottow. “It describes our vision and approach to higher education. It outlines our challenges. It defines some of the characteristics of our students, our academic programs, and our faculty. This is an incredibly exciting time for University of Phoenix and I am thrilled to be part of it. I hope that everyone committed to improving higher education in America will take a closer look at who we are, how we educate and what we accomplish.”

The report completes a profile of working adult students at University of Phoenix, a majority of whom are women, employed and achieving their educational goals with dependents living at home. The learning model of the University is explained in the report, how it involves students in a learning exchange with other working adult students, and how expert practitioner faculty bring to the classroom an average of nearly 20 years of professional experience. The report also includes the University’s institutional and programmatic accreditation information, and outlines how the nine distinct schools and colleges that make up the University align academic programs and curriculum with existing industry standards and competencies, while also creating those competencies for distinct disciplines through its partnerships with employers, industry groups and other organizations.

“University of Phoenix has established high-level objectives that provide a clear direction for day-to-day operations, actions and initiatives,” said University Provost Meredith Curley, Ed.D. “They are fundamental to the University’s future and how its vision is achieved, and are dependent on successful transformation into nine distinct schools and colleges. These objectives work hand-in-hand with having reinvented the way we assess our performance and processes, and how we improve student outcomes, enhance the reputation of the University and meet the evolving needs of employers and working adult students.”

University of Phoenix’s complete 2014 Academic Annual Report is available at http://www.phoenix.edu/content/dam/altcloud/doc/about_uopx/academic-annual-report-2014.pdf.


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