Financial Options FAQs
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University of Phoenix offers numerous finance options to help you pay for your education. These options include federal and state financial aid, grants, loans, military assistance, employer tuition reimbursement, internal and external scholarship sources and access to other resources.
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Federal loans are long-term loans with low interest rates designed specifically for students who need help in financing their education. The Federal Stafford and Parent Loan for Undergraduate Students (PLUS) are guaranteed by the U.S. government and are not subject to the same restrictions as private loans. They have longer repayment terms, fixed interest rates, plus liberal deferment and forbearance provisions.
The subsidized Federal Stafford Loan is need-based and available to undergraduate and graduate students. For subsidized loans, the government pays the interest while the student is in school.
Unsubsidized loans are also available to students, regardless of income. Students are responsible for all interest payments with unsubsidized loans.
The PLUS loans and Graduate PLUS Loan are fixed low-interest education loans. The loans allow parents or graduate students to borrow up to the cost of attendance, minus other financial aid received (scholarships, grants, etc.) for each year of school. PLUS loans are not awarded based on financial need; they are approved based on the borrower’s credit . Qualified applicants are genereally approved as long as they do not have adverse credit.
For more information about federal loans, go to Federal Financial Aid.
Some students may choose private loans to supplement funds received from federal loans to cover costs not met by federal financial aid. Some examples include tuition, books, and computers. Private loans are not subsidized and are not guaranteed by the federal government and should only supplement federal loans.
Private loans are available through banks, education loan organizations and directly from some schools. Lenders determine the terms of the loan, like interest rates and fees, as well as the credit criteria. Depending on personal credit history and loan terms, a cosigner may be required.
Some students may be tempted to choose a private loan because of interest rate discounts or rebates. Interest rates and fees can vary greatly, depending on the lender. The interest rate you receive from your lender could fluctuate depending on your credit and/or the lender. Also, private loans may not offer as much protection as a federal loan, e.g., a guarantee or deferment options. No matter what type of loan you choose, remember all loans need to be repaid.
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University of Phoenix does not directly loan money to students. We offer financing options and encourage students to explore federal loans first. For more information, please refer to private loan lender list.
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University of Phoenix is a strong and stable university on solid academic and financial grounds. We have a proven track record and continue to be operationally secure and academically sound since 1976.
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The Federal Stafford and PLUS loan programs are guaranteed by the U.S. government. Stafford loan eligibility is not based on creditworthiness.
Parent and Graduate PLUS loans will be approved as long as the applicant has no adverse credit history.
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Stafford subsidized and unsubsidized loans have fixed interest rates that do not fluctuate based on the economy. Interest rates are set by the U.S government and the Department of Education for each award year. Private loan interest rates may vary based on specific lender standards.
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An investment in yourself never depreciates. You earn more than a degree when you invest in education. You gain a sense of accomplishment, greater confidence, increased opportunities and qualifications, likelihood of greater earning potential, and greater stability in an unstable market.
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Yes. The College for Financial Planning is a leader in financial planning education. The college provides accessible and flexible degree, non-degree, and continuing professional education programs. The philosophy of professional education emphasizes the relationship between theory and practice. Students will gain the conceptual foundations and practical skills necessary to adapt to changes in society and keep pace with the evolving fields of finance and financial services. To learn more about College for Financial Planning courses, visit http://www.cffpinfo.com/index.php or call the College for Financial Planning at 800.237.9990.
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University of Phoenix provides quality educational programs that are more accessible than conventional four-year colleges and universities.
We offer students a balanced approach to higher education, enabling them to earn a college degree while meeting their responsibilities at work and home. We constantly reinvest in our students’ education by refining the content and design of our curriculum so students are prepared to compete in today’s global economy.
The University’s curriculum is attuned to the current job market, particularly fast-growing areas that are facing resource shortages, e.g., nursing, teaching and information technology. University of Phoenix even helps unemployed students re-enter the workforce by offering relevant education.
Private, for-profit universities like University of Phoenix have proven to help working adults, single parents and first-generation college students get the skills they need to advance their careers.
Students are able to enroll at any time (rather than in standard semester terms) and complete courses in a consolidated timeframe while continuing to work.
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