Wheaton offers a variety of financing options in addition to traditional financial aid programs. These options give families the opportunity to spread out payment of Wheaton’s comprehensive fee anywhere from 12 months to 25 years. Educational financing terms are in many cases better and more flexible than options that may be available privately to individual families. We urge any family examining how to pay for Wheaton to give these programs serious consideration. Many families have found that a combination of payment and loan plans works especially well for them.

Interest-Free Monthly Payment Plan

Offered in partnership with Nelnet, the monthly payment option is an alternative to large annual or semester payments and helps limit borrowing. This option is available each semester, and includes: convenient, interest-free, monthly payments; 24-hour automated account information through Campus Commerce; Nelnet customer support is available Monday through Friday 8:00 am to 8:00 pm (EST) at 800-609-8056. 

Learn more about payment options:  Billing and Payment Policy Information

Supplemental loan programs

Most educational loan programs allow for early prepayment of principal without penalty and require the borrower or co-borrower to have U.S. citizenship or permanent residency.

Federal Direct PLUS Loan

The Federal Parent Loan for Undergraduate Students (PLUS) program enables creditworthy parents to borrow through the Federal Treasury. The interest rate is currently fixed at 9.08 percent and is reset annually on July 1. Repayment of principal and interest begins after disbursement or may be deferred and continues for a maximum of 10 years. Eligibility for the PLUS loan takes into consideration the total cost of attendance less any other aid received.

The Federal PLUS is the most flexible of these parent financing options. A brief credit check is performed to confirm a favorable credit history. If the loan is denied due to unfavorable credit history, the student may qualify for additional funds from the Unsubsidized Federal Direct Loan program. Parents who wish to apply for the Federal PLUS must complete a FAFSA for the student.

Federal Direct Unsubsidized Loan

Students who are not eligible for the Subsidized Direct Loan program are eligible to borrow a Direct loan without the federal interest subsidy. Although repayment of principal is deferred during enrollment, interest will accrue. The student borrower has the option of making interest payments while in school or having the accrued interest capitalized (added to the principal borrowed prior to the start of repayment). First-year students may borrow up to $5,500 for the year, sophomores up to $6,500, and juniors and seniors up to $7,500 per year. The interest rate is currently fixed at 6.53 percent and is reset annually on July 1. Students who wish to apply for the Unsubsidized Direct Loan must complete a FAFSA.

Find more information here: Federal Loan Programs

Private Educational Loans

Wheaton researches the educational loan market and collects information on a variety of loan programs. Visit Private Loan Information for information on private educational loan programs available to Wheaton students. The list is not exhaustive; you may find loan programs with favorable terms offered to residents of your state or through other loan providers. Wheaton will certify loan eligibility for any loan program or lender you select.