If you do not plan to file the 24-25 FAFSA, we kindly ask that you please reconsider and check out the reasons you should, here.
Step 2– Determine Your Net Cost for the Year/Semester
2024–25 comprehensive financial aid offer letters for incoming, admitted students with a completed 24-25 FAFSA will be sent in late March 2024 due to colleges and universities delayed receipt of student FAFSA data resulting from the U.S. Department of Education’s implementation of the FAFSA Simplification Act.
The first student account e-statement for the 2024–25 academic year will be emailed to all enrolled students the week of July 8, 2024.
Tuition, fees, room (double) & (standard) meal plan (if not an approved commuter)
*Please note this represents standard direct costs for a residential student. It does not reflect any indirect costs incurred nor does it reflect variable pricing for single rooms, commuter meal plans, etc.
$75,950
$37,975
$37,975
Subtract SU aid (scholarship/grant)
$
$0
$0
Subtract Federal & State Grants (as applicable)
$
$0
$0
Subtract Outside Scholarships or other Aid
$
$0
$0
Subtract Federal Student Loans for dependent students.
Year 1: $5,500 Gross (No more than $3,500 subsidized.)
Step 4b: Actual PLUS Loan Amount to Request; if balance remains, move to Step 5
$0
$0
$0
Step 5: Private Student Loans; if balance remains after private student loans, please determine out-of-pocket payment or revisit Step 3 for payment plan option.
$
$0
$0
Remaining Payment Due or Final Balance:
$70,509
$35,255
$35,255
*Please note this tool should be used to estimate your costs for the upcoming year as it reflects standard costs for room and meals. Please visit the http://susqu.campusdish.com/ for additional dining choices/costs and the Tuition and Fees website under the “Special Fees” tab for single, multiple room, etc. pricing.
Step 3– Review Payment Plan Options for Remaining Balance or a Portion of the Balance
Utilizing a monthly payment plan each semester is optional but recommended as it’s a good way to minimize student loan debt – especially when you can spread those payments over several months (6, 5, 4, or 3 months).
Pro Tip: Determine an amount you can pay monthly and utilize a payment plan. This will decrease the amount you may consider borrowing through a parent or private student/parent loan.
Students & their authorized users can set up a payment plan by following these steps:
Go to myNest and select ‘My AID & STUDENT ACCOUNT’
Click ‘My Payment & Billing”; and
Click “Proceed to Processor”; and
Click “Set Up a Payment Plan.”
Set up an Authorized User Account for Parents/Supporters (where applicable). After logging into Campus Commerce:
Click on “My Profile”
Manage Payers, click the “ADD” button;
Complete the form and click “Save”;
Authorized User will receive an email with instructions on finalizing their account setup.
Step 4: Consider a Federal Direct PLUS Loan for Parents
The federal government offers a loan program for parents of dependent students to borrow for educational expenses. Through this program, a biological or adoptive parent or stepparent may borrow up to the cost for the year less other financial aid the student has received. The PLUS Loan offers a fixed interest rate and tax-deductibility of interest at most income levels.
The Direct Parent PLUS Loan interest rate for 2023-2024 academic year rate is 8.05%. The 2024-25 interest rates will be available no later than July 2024. The U.S. Department of Education charges a 4.228% origination fee. For example, if you wish to borrow $10,000, keep in mind that 4.228% will be withheld from the loan by the U.S. Department of Education. To determine the actual amount of the loan to borrow including the fee, divide the amount you need to cover your costs for the year by 0.95772. Keep in mind “max” loan requests are not accepted, please specify an amount for your loan.
How can I secure a 2024–2025 Direct Parent PLUS Loan? First-time SU borrowers can secure your loan by visiting studentaid.gov in April 2024. This site will allow you to enter your information, request a loan amount, and initiate a credit check. You will also be required to complete a Master Promissory Note (MPN). NOTE: Your process will not be complete until both the application and MPN are submitted. Step-by-step directions are available here. A parent will be instructed to complete PLUS Credit Counseling if credit is denied and subsequently the decision is appealed, or an endorser is added.
Step 5: Private Student Loan Options for Higher Education
Private loans are an option for families who need to borrow for their educational investment. Susquehanna recommends that you exhaust federal student borrowing options first. However, for families who wish to consider alternative, private loans, please visit our SU website mxwwmt.rasar.org/privateloans for current information. Susquehanna strongly recommends that you compare private loans with federal loan options before coming to a financing decision.
Final Reminders from SFS Regarding Your Investment in Higher Education:
Monitor Your Student Account: Billing at Susquehanna is done electronically through our Student Account Portal. Fall bills will be available in myNest’s Student Account Portal by the week of July 8, 2024. You and your authorized user(s) will receive an e-statement notification via your SU email and the authorized user’s email on file highlighting the availability of the fall 2024 statement. We kindly ask that payment arrangements for the 2024-25 academic year be in place be in place by August 1, 2024.
Protect Your Investment with Tuition Insurance: Given life happens, please consider tuition protection insurance through Allianz’s Grad Guard Tuition Insurance. Susquehanna’s refund policy and tuition insurance details can be found at rasar.org/refundpolicy. Depending on the coverage purchased, the optional insurance provides coverage up to 100% of any funds paid by you for tuition, room, meal plan, health fee, and student activity fee for the semester that the student is unable to complete due to medical reasons. Students and families will also have an opportunity to review the refund policy and purchase insurance when entering the student account portal.
Monitor Your Federal Loan Borrowing via studentaid.gov: We encourage students and families to track their student loans by using the US Department of Education’s “Manage Loans” website. Students will need to utilize their FSA ID and password (same as their FAFSA) to login into the site to review their Aid Summary.