Payment Options
Students who are accepted for admission to Bay Path College for the entire academic year and are billed on a semester basis. The fall semester bill is sent out the last week of May and is due by July 1. The spring semester bill is sent out in November and is due by December 17. All checks and money orders should be made payable to Bay Path College. The College also accepts MasterCard, Visa, Discover and American Express; forms are located on the back of the billing statements that can be filled out and returned to the Business Office. Credit card payments can also be called in over the phone or made online. Payment plans are available through Tuition Management Systems, Inc. to those who qualify. Private Student Alternative or parent loans are available for both students and parents; contact the Student Financial Services Office for more information.
Most important, we are here to assist you with financing your Bay Path College education. If you have any additional questions, concerns, or need further information on financing options, please contact the Bay Path College Student Financial Services Office toll free at 1-800-782-7284, ext. 1256 or by e-mail at finaid@baypath.edu.
Monthly Payment Plan:
Bay Path College offers students and parents an interest-free monthly payment plan option to assist you in financing your education. Through Tuition Management Systems (TMS), families have the option of a monthly payment plan to divide the out-of-pocket expenses into 10 easy payments over the academic year. A $65.00 enrollment fee covers the plan administration for the academic year. If you have any questions, please call the Student Financial Services Office for assistance. To sign up for the payment plan, call TMS at 1.888.216.4258 or apply online at www.afford.com.
Federal Direct Parent PLUS Loans:
Your parent may apply for a Federal Direct PLUS Loan (Parent Loan for Undergraduate Students) online at www.studentloans.gov. Approval for a PLUS Loan is based on the credit worthiness of the parent applying for the loan. Parents may borrow up to the student’s cost of attendance minus any other financial aid received. PLUS Loans are low-interest loans (currently 7.9%) which can be repaid over a longer period of time (up to ten years with a $50 minimum monthly payment). Repayment begins within 60 days of the loan being disbursed to the college.
Private Student Loans
Private Student Loan Programs may be available from several lenders. If students still need money for college after reaching the borrowing limits for federal loans, students and families should first look at monthly payment plan options or the Federal Direct PLUS Loan option before private loan options. Private loans often carry higher interest rates and fees than federal loans or home equity loans and may have less attractive repayment terms. Typically interest rates on private loans are variable and can change from month to month. Private loans are based on the credit worthiness of the borrower, and may require a co-signer. The information in the borrower’s and co-signer’s credit report will determine the interest rates qualified for. There is usually a minimum loan amount depending on the lender's requirements. The terms and conditions vary depending on the lender’s requirements. Borrowers may be allowed to defer payment of principal and interest on the loan while the student is enrolled in school. Note that you may borrow a private loan through any program that you choose. Be sure to maximize your federal loan eligibility before applying for a more expensive private student loan. We urge students and parents who are borrowing to visit each lender’s web site and find the lender that best suits their needs.
The following list represents lenders from whom our students have borrowed during the 2010 – 2011 academic year:
